Renovating your home can be an exciting yet costly venture. Whether you’re upgrading your kitchen, adding an extension, or fixing essential repairs, having the right financing in place can make all the difference. Let’s explore how home improvement loans can help fund your renovation plans and what options are available in 2025.
Why Consider a Home Improvement Loan?
A home improvement loan provides the funds needed to upgrade or repair your property. Many homeowners turn to this financing option when they:
Need urgent renovations such as replacing a broken boiler or fixing structural damage.
Plan to increase their home’s value with upgrades like loft conversions or modern kitchens.
Want to improve energy efficiency through insulation or solar panel installations
Types of Home Improvement Loans
Secured Loans (Homeowner Loans)
Borrowing is secured against your property, meaning lower interest rates.
Ideal for major renovations like extensions or roof replacements.
Risk: If repayments are not met, your home may be repossessed.
Unsecured Personal Loans
No need to use your property as collateral.
Suitable for smaller projects such as bathroom or kitchen refurbishments.
Interest rates may be higher due to lack of security.
Remortgaging for Home Improvements
Allows you to borrow additional funds by refinancing your mortgage.
Works well for homeowners with significant equity.
Can offer lower interest rates but extends the mortgage term.
Bridging Loans
Short-term option for those needing funds quickly.
Commonly used when purchasing a property that requires renovations before becoming mortgage-eligible
How to Choose the Right Loan for Your Renovation
When deciding which financing option works best for you, consider:
The size of your renovation – Larger projects may require secured loans or remortgaging.
Your repayment capability – Ensure monthly repayments fit within your budget.
Your credit score – A good credit history can help secure lower interest rates.
The urgency of the project – If urgent repairs are needed, a bridging loan may be the best option.
Government Grants and Low-Cost Loans
In 2025, the UK government is offering support to homeowners looking to improve energy efficiency through grants and low-cost loans. These initiatives aim to make green home improvements, such as solar panels and insulation, more affordable
Seek Professional Guidance
Navigating the remortgage market can be complex, but you don’t have to do it alone. Windsor Hill Mortgages offers expert guidance to help you make informed financial decisions. Our experienced advisers in Bath will guide you through every step.
Speak to our team today and we'll take you through your mortgage options.
Remortgaging is a crucial financial decision that can help homeowners reduce costs, secure better interest rates, or release equity from their property. With mortgage rates fluctuating and economic conditions changing, is 2025 the right time to remortgage? Let’s explore the key factors.
Why Homeowners Are Considering Remortgaging in 2025
Many homeowners who secured fixed-rate deals in previous years are now facing the reality of higher mortgage rates as their current terms expire. With UK mortgage rates stabilising and forecasts suggesting potential reductions, remortgaging could lead to substantial savings.
Key reasons homeowners are looking to remortgage:
Current fixed-term deals expiring: If your deal is ending in 2025, failing to act could mean moving onto your lender’s Standard Variable Rate (SVR), which is usually higher.
Potentially lower interest rates: The Bank of England has hinted at possible rate cuts, meaning better deals could become available.
Homeowners wanting financial stability: Locking in a new fixed rate could protect you from future increases.
Comparing Fixed-Rate vs Variable Mortgages
Choosing the right remortgage deal depends on your financial goals and risk appetite:
Fixed-Rate Mortgages – These offer stability, keeping your monthly payments the same for a set period (typically 2, 5, or 10 years). While you won’t benefit from rate cuts, they provide financial certainty.
Tracker or Variable Mortgages – These follow the Bank of England’s base rate, meaning your payments can fluctuate. If rates drop, your payments decrease; however, if they rise, so will your costs.
When Should You Act?
If your mortgage deal expires within six months, now is the time to start the remortgage process. Acting early allows you to:
Lock in a competitive rate before potential increases.
Have time to compare deals and avoid rushed decisions.
Avoid moving to an expensive standard variable rate.
Can You Save Money by Remortgaging?
The potential savings depend on your current mortgage rate versus what’s available now. If your deal is above 5%, switching to a lower-rate mortgage could reduce your monthly payments significantly. Homeowners on standard variable rate mortgages, often around 7%, could benefit the most.
Consider These Factors Before Remortgaging
Early Repayment Charges (ERCs) – If you’re still in a fixed term, check for fees before switching.
Your Loan-to-Value Ratio (LTV) – A lower LTV (e.g., 60-80%) means access to better deals.
Your Credit Score – Lenders assess your creditworthiness, so ensure your finances are in good shape.
Additional Costs – Consider legal fees, arrangement fees, and valuation costs before switching.
Seek Professional Guidance
Navigating the remortgage market can be complex, but you don’t have to do it alone. Windsor Hill Mortgages offers expert guidance to help you make informed financial decisions. Our experienced advisers in Bath will guide you through every step.
Speak to our team today and we'll take you through your mortgage options.
Stamp duty is a major consideration when buying a home, and upcoming changes in April 2025 could significantly impact both first-time buyers and home movers. Understanding these adjustments can help you plan effectively and avoid unexpected costs.
What’s Changing?
Currently, first-time buyers benefit from a stamp duty exemption on properties valued up to £425,000. For properties priced between £425,001 and £625,000, they pay a reduced rate of 5% on the portion within this range. However, as of 1 April 2025, these thresholds will drop:
No stamp duty for properties up to £300,000 (down from £425,000).
5% tax on the portion between £300,001 and £500,000.
Properties above £500,000 will no longer receive any first-time buyer relief.
How Much More Will You Pay?
These changes mean that buyers purchasing homes above the new thresholds will face significantly higher costs.
Here are a few practical examples:
A £411,900 home in London – Currently stamp duty-free for first-time buyers, but from April 2025, buyers will need to pay £5,595.
A £327,700 home in Bath – Currently tax-free, but will cost £1,385 in stamp duty.
A £625,000 property today – Would attract a £10,000 stamp duty bill. From 1 April 2025, the same property will be taxed at £21,250, an increase of £11,250.
What Does This Mean for Homebuyers?
Increased Costs – Many buyers will need to budget for higher stamp duty payments, particularly in regions with high property prices.
Increased Market Activity – There has already been a rise in buyer demand, especially in London and the South East, as people rush to complete purchases before the changes take effect.
Longer Completion Times – The average property transaction in the UK takes 151 days to complete. If you want to buy a property in 2025, you will most likely fall under the new stamp duty changes.
How to Prepare for the Changes
Assessing your financial position – Knowing how much you could borrow will help set realistic expectations. There are government schemes designed to assist buyers, such as the Mortgage Guarantee and Own New Rate Reducer schemes.
Secure a mortgage in principle – This strengthens your position when making an offer and speeds up the buying process. This can strengthen your position when negotiating!
Work with a mortgage adviser – A professional can help you explore the best financing options and navigate the stamp duty changes effectively.
Seek Professional Guidance
Navigating stamp duty changes can be complex, but you don’t have to do it alone. Windsor Hill Mortgages offers expert guidance to help you make informed financial decisions. Our experienced advisers in Bath can guide you through every step, from securing your mortgage to finding the right protection for your home.
Speak to our team today and we'll take you through your mortgage options.
Avoid Costly Mistakes and Set Yourself on the Path to Long-Term Financial Stability
Buying your first home is an exciting milestone, but without careful planning, it can quickly become overwhelming and expensive. That's the last thing we all want, right?
To help you navigate the process with confidence, here’s what every first-time buyer needs to know to avoid costly mistakes and secure long-term financial stability.
1. Know Your Financial Health Before House Hunting
The first step in buying a home is understanding your finances. Before you start browsing properties, check your credit report with providers such as Experian or Equifax. Ensure any errors are corrected, as an accurate credit record is crucial for securing a mortgage.
Additionally, assess your affordability by factoring in all costs beyond the mortgage deposit, including:
Home insurance
Mortgage fees
Stamp duty (if applicable)
Legal and survey costs
Moving expenses
2. Save for a Larger Deposit
While some lenders accept a 5% deposit, a larger down payment (10%-20%) can secure better mortgage rates and reduce your monthly repayments. That's a bit challenging though, so why not consider using government-backed schemes such as:
Lifetime ISA (LISA): Get a 25% government bonus on savings up to £4,000 per year.
First Homes Scheme: Discounts on new-build properties for eligible buyers
3. Get a Mortgage in Principle
Obtaining a mortgage in principle before house hunting shows sellers you’re serious and helps you understand how much you can borrow. Feel free to call us and we'll help you with this!
4. Research the Best Mortgage Deals
Not all mortgages are created equal. Work with an experienced mortgage broker (like Windsor Hill Mortgages) to compare options and find a deal that suits your needs. Common types include:
Fixed-rate mortgages – Set interest rate for a fixed period.
Tracker mortgages – Interest rate fluctuates with the Bank of England base rate.
Offset mortgages – Use savings to reduce mortgage interest.
Feel free to call us and we'll help you with this!
5. Factor in Additional Homeownership Costs
Owning a home comes with ongoing costs beyond the mortgage, such as:
Council tax
Utility bills
Property maintenance
Unexpected repairs (e.g., boiler replacements)
6. Consider Future Financial Stability
Think beyond the initial purchase – will you be able to afford mortgage payments if interest rates rise or your circumstances change? Having 3-6 months of savings as an emergency fund is a smart financial cushion
7. Seek Professional Guidance
At Windsor Hill Mortgages, we understand that buying a home can feel like navigating a maze. Our experienced advisers in Bath can guide you through every step, from securing your mortgage to finding the right protection for your home.
Speak to our team today and we'll take you through your mortgage options.
What Homebuyers Need to Know When Looking for Properties
Buying a home is one of the most exciting milestones in life, but it can also feel overwhelming. Whether you’re a first-time buyer or a seasoned homeowner, understanding the key factors when searching for a property can help you avoid common pitfalls and make informed decisions.
1. Know Your Budget Before You Start
Understanding how much you can afford is the first step to a successful home-buying journey. Lenders will assess your income, outgoings, and credit history to determine your borrowing capacity. It’s a good idea to:
Obtain a mortgage in principle to show sellers you are a serious buyer.
Factor in additional costs like stamp duty, legal fees, and potential renovation expenses.
2. Set Clear Priorities
List what matters most to you. Location, property size, schools, transport links, and local amenities are all important. Remember that compromise is often necessary, so distinguish between must-haves and nice-to-haves.
3. Explore Buying Schemes
For first-time buyers, government schemes like Shared Ownership and First Homes Scheme can make homeownership more accessible. These can reduce the deposit required or offer discounted property prices.
4. Research the Local Market
House prices vary widely across regions. Northern areas, for example, are seeing stronger growth than the South. Understanding these trends can help you find areas offering better value for your money.
5. Prepare for Extra Costs
Beyond the deposit and mortgage payments, there are hidden costs to be ready for:
Surveys and valuations
Solicitor fees
Home insurance
Moving costs
Immediate repairs or decorating
6. Don’t Rush the Process
View multiple properties, ask questions, and visit at different times of the day. A house may look perfect during the day but feel different in the evening. Take your time to get a full picture before committing.
7. Seek Professional Guidance
At Windsor Hill Mortgages, we understand that buying a home can feel like navigating a maze. Our experienced advisers in Bath can guide you through every step, from securing your mortgage to finding the right protection for your home.
Speak to our team today and we'll take you through your mortgage options.
Protecting What Matters: Life Insurance & Critical Illness Cover
Life is unpredictable. While we hope for the best, it’s essential to prepare for the unexpected, especially when it comes to protecting your loved ones and securing your home. That’s where life insurance and critical illness cover come in. These policies provide financial security when you and your family need it most, ensuring that your home remains yours, no matter what life throws your way.
When it comes to insurance, we are fee-free, so why do it alone when you can have an expert by your side?
Why Life Insurance Matters
Buying a home is one of the biggest financial commitments you’ll ever make. If the worst were to happen, life insurance ensures that your loved ones aren’t struggling to cover mortgage payments. Instead of adding financial stress to an already difficult time, a life insurance payout provides stability and peace of mind.
Pays a lump sum to help cover the outstanding mortgage balance.
Ensures your family can remain in their home without worrying about repayments.
Can be tailored to match the amount and length of your mortgage.
There are different types of life insurance to consider:
Term Life Insurance – Covers you for a set period and pays out if you pass away during that term.
Whole Life Insurance – Provides lifelong coverage and pays out whenever you pass away.
Decreasing Term Insurance – Designed to match your mortgage balance as it reduces over time.
Critical Illness Cover: A Safety Net for You
Life insurance covers your family in the event of your passing, but what happens if you’re diagnosed with a serious illness that prevents you from working? Critical illness cover steps in to provide financial relief, allowing you to focus on recovery instead of worrying about your mortgage.
Pays out a lump sum upon diagnosis of a serious illness covered by the policy.
Can help with mortgage payments, medical expenses, and household costs.
Offers peace of mind, knowing that financial worries won’t add to health concerns.
Who Should Consider These Policies?
Anyone with a mortgage should consider life insurance and critical illness cover, especially if:
You have dependents who rely on your income.
You’d struggle to keep up with mortgage payments if you couldn’t work.
You want financial security for yourself and your family, no matter what happens.
Tailoring Cover to Your Needs
Every household is different, and your insurance should reflect that. When choosing life insurance or critical illness cover, consider:
Your mortgage balance – Ensure your cover amount matches your outstanding loan.
Your lifestyle and financial commitments – Factor in any other debts or expenses.
Your family’s future needs – Think beyond just mortgage payments to school fees, childcare, and other long-term expenses.
Why Choose Windsor Hill Mortgages?
At Windsor Hill Mortgages, we specialise in finding the best insurance solutions tailored to your unique situation. With decades of experience, we understand the importance of securing not just a mortgage, but your home and your future. Our team is here to guide you every step of the way, ensuring you have the right cover in place.
Buying a home is one of the biggest financial commitments you'll make, and understanding how much you can borrow is crucial. Thankfully, a range of online mortgage calculators can help you estimate your borrowing power based on your income, expenses, and other financial factors. In this guide, we’ll explore the different tools available and how they can help you make informed decisions.
Why Use a Mortgage Calculator?
Mortgage calculators are a great starting point for prospective homebuyers. They provide an estimate of how much you might be able to borrow based on key financial details such as:
Your income (including salary, bonuses, and other earnings)
Your outgoings (such as bills, loans, and other expenses)
The size of your deposit
Your credit score and history
While these calculators offer valuable insights, remember that they provide estimates rather than final mortgage approvals. Actual amounts may vary based on lender assessments and credit checks.
Mortgage Calculators in the UK
Several UK lenders and financial institutions provide mortgage calculators to help you gauge your affordability. Here are some of the best tools available:
1. Nationwide Building Society
Nationwide’s borrowing calculator lets you enter details like your income and deposit amount to estimate how much you could borrow. It’s a quick way to get an idea of your potential mortgage range. Try Nationwide’s Mortgage Calculator
2. Santander
Santander offers a simple tool that allows you to input your financial details and see an estimate of what you could borrow. Use Santander’s Mortgage Calculator
3. HSBC
HSBC’s affordability calculator assesses your financial details and provides an estimate of how much you may be eligible to borrow. Check Out HSBC’s Mortgage Calculator
4. Halifax
Halifax provides a user-friendly mortgage calculator that helps potential buyers understand their borrowing limits based on personal financial data. Explore Halifax’s Mortgage Calculator
5. NatWest
NatWest offers a mortgage cost calculator that gives an estimate of your borrowing potential based on your income and expenses. Visit NatWest’s Mortgage Calculator
6. MoneySuperMarket
This independent comparison site provides a mortgage calculator that helps users compare different lending options and understand affordability. Try MoneySuperMarket’s Mortgage Calculator
7. MoneyHelper
A government-backed resource, MoneyHelper provides a mortgage affordability calculator that gives users an accurate picture of their borrowing capabilities. Use MoneyHelper’s Mortgage Calculator
What to Consider When Estimating Your Mortgage?
When using mortgage calculators, keep in mind that lenders assess more than just income. They consider:
Credit score: A higher score increases your borrowing potential.
Existing debts: Loans and credit card balances may affect your affordability.
Employment status: Self-employed applicants may need to provide additional documentation.
Deposit size: A larger deposit often means better mortgage deals and lower interest rates.
While mortgage calculators are a helpful tool for estimating affordability, speaking to a mortgage advisor can provide a more accurate and personalised assessment. If you’re planning to buy a home, use these tools as a starting point but consult with a lender to get a clearer picture of your mortgage options.
Once you are ready to explore your mortgage options, start by checking out these calculators and take the first step towards securing your dream home!
Whether you’re a first-time buyer, looking to remortgage, or exploring protection options, Windsor Hill Mortgages is here to help every step of the way.
We know December can be a busy and expensive time of year. With the holiday season and financial pressures, it’s easy to postpone big decisions like securing a mortgage. That’s why we’re introducing this exciting offer to give you an extra reason to act now. This December, we’re offering £100 cashback to clients who book their consultation online and complete their mortgage by 31st March 2025.
This offer is also timed to align with the upcoming Stamp Duty changes, making this an ideal time to lock in your mortgage and complete your case before April 2025.
How it works?
1. Book your consultation online
Schedule your appointment through our easy-to-use online booking system between 1st and 31st December 2024. Booking online via the link on our website takes less than 60 seconds.
2. Complete your mortgage by 31st March 2025
Work with one of our expert advisors to secure your mortgage and complete your case.
3. Receive your £100 cashback
Once your mortgage is successfully completed, we’ll process your cashback in 14 business days.
Why do it now?
1. Avoid Stamp Duty increases
The upcoming changes to Stamp Duty could impact on your property purchase. Booking now ensures you’re ahead of the curve.
2. Save money
£100 cashback helps offset the costs associated with securing your mortgage. Why not use this amount on furniture?
3. Expert guidance
Our specialist advisors will guide you through the process, offering tailored advice to meet your needs and long-term goals.
4. Free consultation
You’ll still enjoy a free consultation, which makes this offer even better value!
How to get started?
Booking your appointment is easy! Simply click on the “Book Now” button at the top of our website, select a date and time that suits you, and you’re all done! We’ll do the rest.
If you’ve been thinking about reviewing your mortgage options or securing a deal, now is the time to act! With £100 cashback and our expert support, there’s no better time to make progress on your financial goals.
Terms & Conditions:
Cashback applies to online bookings made between 1st and 31st December 2024. It doesn’t matter when the date of the consultation is, as long as you complete the booking during December.
Cases must be completed by 31st March 2025.
Cashback payments will be processed 14 business days after the mortgage completion.
Take the first step today and book your consultation online. Whether you’re a first-time buyer, looking to remortgage, or exploring protection options, Windsor Hill Mortgages is here to help every step of the way.
