Personal Loans · Home Renovation Loans
Renovation loans without redrawing your mortgage
A home renovation loan is a personal loan used to fund improvements without refinancing your mortgage. Noddle compares renovation loans across a panel accessed through the Loan Market Group platform and arranges the one that fits your budget and timeline. The lender assesses and funds the loan.
Noddle is a broker, not a lender. We find, compare and arrange; lenders approve and lend.
- Australian Credit Licence 526746
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- Servicing Australia, 100% online
- One application, many lenders compared
Personal loan or mortgage redraw for a renovation?
A personal loan keeps your renovation separate from your home loan, with a fixed term so the debt is cleared on a set date. Redrawing or refinancing your mortgage can offer a lower rate but stretches the cost over decades. Noddle lays out both so you can compare the total cost, not just the rate.
What can a renovation loan cover?
Kitchens, bathrooms, flooring, landscaping, solar, and structural work are all common. An unsecured personal loan does not require equity in your home, which suits renters improving a property or owners who prefer not to touch their mortgage.
Frequently asked questions.
A home renovation loan is a personal loan used to pay for home improvements. It is usually unsecured, so it does not require equity in your property, and it has a fixed term. Noddle compares renovation loans across its panel and arranges the one that suits your budget.
No. An unsecured personal loan for renovations is based on your income and circumstances, not your home equity, so renters and owners without equity can apply. Noddle compares both unsecured personal loans and equity-based options where relevant, and explains the difference in total cost.
It depends on your income, expenses and the lender. Renovation personal loans vary by lender and your circumstances. Noddle compares options across its panel and arranges an amount sized to what you can comfortably repay, subject to responsible lending checks.
A personal loan clears the debt on a fixed date and keeps it separate from your mortgage. Refinancing can offer a lower rate but spreads the cost over the life of the home loan, often costing more overall. Noddle shows both so the choice is informed.
Noddle may charge a brokerage fee for arranging your loan, and may also receive a commission from the lender. Both are disclosed upfront in our Credit Guide and your written quote before you commit. The brokerage fee can be paid upfront or capitalised into your loan. If capitalised, you pay interest on it over the loan term. All fees and commissions are disclosed in our Credit quote before you proceed.
About the author
Joshua Wessels is the founder of Noddle and leads its broking team. He has more than a decade in Australian consumer finance and holds a Diploma in Mortgage Broking. Noddle is a member of the Finance Brokers Association of Australia (FBAA member 362825) and the Australian Financial Complaints Authority (AFCA member 81857), and operates under Australian Credit Licence 526746.
Read more about the team on the Noddle team page.
Noddle Pty Ltd (ABN 63 643 806 759, ACN 643 806 759) operates under Australian Credit Licence 526746. Noddle is a credit assistance provider, not a credit provider. We arrange loans through a panel of lenders accessed via the Loan Market Group (LMG) aggregation platform. We are bound by the responsible lending obligations of the National Consumer Credit Protection Act 2009 and regulated by ASIC. Fees and any commissions are disclosed in our Credit Guide and your written quote before you commit. Any approval, rate and amount is determined by the lender, subject to their assessment.
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