I don't want to use the equity in my property for home improvements, what high value loans are available or is it better to use equity?
if you mean a high value loan secured on your home, then you are using your equity.
a personal loan is limited by law to £25000 but the terms on that amount will usually be limited to 5 years and there are only a few lenders that go to that limit.
you might well find the most affordable approach is to take some equity as your primary mortgage lender will offer a lower rate than any other secured lender and will still be favourable compared to a personal loan.
but dont assume that if you have say 20 years left on the mortgage that you must take the top up over 20 years. you should be able to pick any term you like but most lenders will have a 5 year minimum - but this wont really matter as long as you dont take a 5 year interest rate deal otherwise you might incur a penalty on early repayment | 01.04.11 @ 22:25