home renovation loan

Home Renovation
Loans

We’ve got the tools to turn your house into a dream home. Apply for a Latitude Renovation Loan online in just 7 minutes and get a response to your application in 60 seconds.

Check your interest rate in 2 minutes with no impact to your credit score.
Check your rate

We’ll ask you a few quick questions about your circumstances and credit history to give you a personalised interest rate and repayment amount.

$
This won't affect your credit score

Interest Rates

Variable
Variable Rate
9.49
%
p.a.
^
to
29.99
%
p.a.
^
Comparison Rate
10.93
%
p.a.
*
to
31.83
%
p.a.
*
Fixed
Fixed Rate
9.49
%
p.a.
^
to
29.99
%
p.a.
^
Comparison Rate
10.93
%
p.a.
*
to
31.83
%
p.a.
*

Let's talk loan details


RateChoice of a Fixed or Variable loan

Loan amountsFrom $5,000

RepaymentsWeekly, fortnightly, monthly

Loan terms2 - 7 years
Secured and unsecured

Other benefitsFixed loan:
Rate and repayment fixed for the life of the loan
Variable loan:
No early termination fee

Other InformationLoans with a variable interest rate are subject to change throughout the duration of the loan

Fees & charges
Establishment Fee$395
Loan Service Fee$13 per month
Payment handling fee for using BPAY®$1.50 (increasing to $1.95, effective 5th March 2024)
Late Payment Fee:$40 (increasing to $45, effective 5th March 2024) in the event that you can’t make the minimum repayment by your agreed date
Early Termination Fee:Fixed loan:
$500 up until the last 3 months of the loan term
Variable loan:
No early termination fee
Other InformationLoans with a variable interest rate are subject to change throughout the duration of the loan

Calculators and tools

Personal loan
repayment calculator

What will my repayments be?

Car loan
repayment calculator

What will my repayments be?

Budget
planner

See where your money is going and how to save more

Why choose a Latitude loan?

Un-complicated loans

Get an indicative Quote in 2 minutes, Apply in under 7 minutes. Once approved and you accept your contract, funds in your account in less than 24 hours.

Flexible options

At Latitude, you can choose to apply for a Fixed or Variable loan, along with an option to set up monthly, fortnightly or weekly repayments.

How to apply

  1. Check your interest rate online in 2 minutes without impacting your credit score
  2. Apply online and receive a response in 60 seconds
  3. Provide required documents, such as banking statements and identification documents
  4. Accept your loan contract digitally
  5. Obtain funds within 24 hours of us receiving your online acceptance

Eligibility

You must:
  • Be 18 years or over
  • Be a permanent Australian resident
  • Be currently employed and earning at least $25,000 gross per annum
  • Be able to demonstrate a good credit history for the last 5 years
  • Be free from bankruptcy for the last 7 years

Frequently asked questions

About my Latitude Home Renovation Loan
  • What can I use my Latitude Home Renovation Loan for?

    <span>You can use a Latitude Home Renovation Loan for most purposes. Whether that's for basic home improvements or some more extensive renovations, a Latitude Home Renovation loan could make this possible. If you have something in mind, give us a call 13 28 26 to discuss a solution that suits you.</span>

    What can I use my Latitude Home Renovation Loan for?
  • How much can I borrow with a Latitude Home Renovation Loan?

    <span>The minimum amount you can borrow for a Latitude Home Renovation Loan is $5,000, with the maximum depending on your circumstances and current financial situation.</span>

    How much can I borrow with a Latitude Home Renovation Loan?
  • How do I make repayments on my Latitude Home Renovation Loan?

    <span><p>You can opt to make weekly, fortnightly or monthly repayments by Direct Debit or BPAY®.</p><p>Payment via BPAY® will incur a payment handling fee of $1.50.</p><p>BPAY® and the BPAY® logo are registered trademarks of BPAY Pty Ltd ABN 69 079 137 518</p></span>

    How do I make repayments on my Latitude Home Renovation Loan?
  • What's the minimum and maximum length for a home renovation loan?

    <span>With a Latitude Home Renovation loan, you can choose to repay your loan over a period of 2 - 7 years.</span>

    What's the minimum and maximum length for a home renovation loan?
  • Useful forms to manage your Latitude Home Renovation Loan

    <span><p>To help you manage your account, here are some useful forms.</p><a target="_blank" href="https://latitudefs.zendesk.com/hc/en-au/requests/new?ticket_form_id=360000137778">Direct debit set up form</a> [PDF]<br><a target="_blank" href="https://latitudefs.zendesk.com/hc/en-au/requests/new?ticket_form_id=360000130337">Third party authority</a> [PDF]</span>

    Useful forms to manage your Latitude Home Renovation Loan
Application and approval
  • When will I get a decision on my Latitude Home Renovation Loan application?

    <span>In most cases, you can expect to receive a decision on your Latitude Home Renovation Loan application in 1-2 working days.</span>

    When will I get a decision on my Latitude Home Renovation Loan application?
  • How long till I receive funds for my Latitude Home Renovation Loan?

    Once your Latitude Home Renovation Loan is approved and signed, your funds are usually available the next business day or no more than two working days (depending on your circumstances).

    How long till I receive funds for my Latitude Home Renovation Loan?
  • What is the eligibility criteria for a Latitude Home Renovation Loan?

    <div><p>At a minimum, you will need to:</p><ul><li>be currently employed and earning at least $25,000 gross per annum</li><li>be an Australian Permanent Resident</li><li>be at least 18 years of age</li><li>Be able to demonstrate a good credit history for the last 5 years</li><li>Be free from bankruptcy for the last 7 years</li></ul><p>Other credit and approval criteria will apply depending on your situation. In most cases, you can expect to receive a decision on your loan application in 1-2 working days.</p></div>

    What is the eligibility criteria for a Latitude Home Renovation Loan?
  • Do I need to provide security for my Latitude Home Renovation Loan?

    <span>Whether you need to provide security or not will vary depending on your personal circumstances and the loan amount you have applied for.</span>

    Do I need to provide security for my Latitude Home Renovation Loan?
Fees, charges and interest
  • Will the interest rate on my Latitude Home Renovation Loan be Fixed or Variable?

    <span>You can choose whether your Latitude loan is fixed or variable. Interest rates may vary depending on the type of Latitude home renovation loan you apply for. Fixed loans have a fixed interest rate for the term of the loan. With a Latitude Variable home renovation loan the interest rate could change during the term of your loan.</span>

    Will the interest rate on my Latitude Home Renovation Loan be Fixed or Variable?
  • How is my interest calculated on a Latitude Home Renovation Loan?

    <span>Interest is calculated daily and charged to your account on a monthly basis.</span>

    How is my interest calculated on a Latitude Home Renovation Loan?
  • Will I be charged a fee for making extra payments?

    <span>With a Latitude Home Renovation Loan, you can make extra payments whenever and however you like. Be aware that for a Fixed loan, an early termination fee of $500 applies if you payout your loan in full up until the last 3 months of the loan. Payment handling fees of $1.50 apply when making extra repayments via BPAY®. BPAY and the BPAY logo are registered trademarks of BPAY Pty Ltd 69 079 137 518.</span>

    Will I be charged a fee for making extra payments?
  • How can I avoid paying late fees on my Latitude Home Renovation Loan?

    <span><ul><li>Paying by direct debit saves you time and the hassle of manual repayments, it also helps you to avoid fees from missed or late payments.</li><li>Make sure you have sufficient funds in your account so all direct debits and other scheduled payments can be made.</li><li>If your circumstances change which could affect your repayments, call us on <a href="tel:132826"> 13 28 26</a> to discuss your options.</li><li>You can also make additional repayments so you pay off your loan sooner and save on interest<sup>1</sup>.</li></ul><p><sup>1</sup>Early termination fee applies.</p></div></span>

    How can I avoid paying late fees on my Latitude Home Renovation Loan?

Important information

^ Approved customers only. Terms, conditions, fees and charges apply for Latitude Personal Loan. All applications are subject to lending and approval criteria.

Loan terms range from 2-7 years for Latitude Personal Loan.

Latitude Fixed Personal Loan rates range from 9.49% p.a. to 29.99% p.a. (comparison rates 10.93% p.a. to 31.83% p.a.).
Latitude Variable Personal Loan rates range from 9.49% p.a. to 29.99% p.a. (comparison rates 10.93% p.a. to 31.83% p.a.).

* The Comparison rate for the above products are based on $30,000 over 5 years.

WARNING: These comparison rates apply only to the example or examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

EXAMPLE: A personal loan of $30,000 borrowed for 5 years with an interest rate of 15.99% p.a. (17.40% p.a. comparison rate), would equate to a total amount payable of $45,418 (including a $395 establishment fee and $13 monthly loan servicing fees).

Results from the calculators should be used as an indication only, and they do not represent either a quote or pre-qualification or approval for a loan. The calculator should only be used as a guide to see how loan repayments can vary when you change the loan amount, interest rate and loan term. Fees and charges are payable and the calculators do not take these into account.

1 You can make additional payments at any time, however, an early termination fee may apply on a Fixed loan up until the last 3 months of your loan term.