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As we are spending more time inside the home, many of us are now looking at undertaking home improvement projects to breathe new life into tired spaces or to simply make a good home even better.

To assist you fund these projects, consider the following options to find the one that works best for you.

Use your equity

Using your equity involves borrowing against the current value of your home, before any value-adding renovations. Equity is the difference between the bank’s valuation of your house and the amount you still owe on your mortgage. The amount you will be able to borrow will depend on how much equity is available as well as your own financial situation.

Home loans generally offer lower interest rates compared to personal loans and credit cards, which is a good reason why it makes sense to use your equity!

Remember, using your equity means adding to your original debt which requires an increase in your existing home loan repayments. Make sure you are comfortable with changes in repayments.


Redrawing on your existing home loan is another fast and easy option.

If you have an existing variable rate home loan with us and you have made additional repayments on your mortgage, you may be able to redraw on those funds to cover your renovation costs.


Renovations are an ideal time to review your current home loan product to see if it still meets your needs.

If you have an existing variable rate home loan with us, contact us to discuss our range of home loan products and options available to you and we will help you make the switch.

If you are with another lender, refinancing your home loan with us can help fund your renovations and enjoy more banking flexibility.

Talk to a lending specialist today

For smaller renovation projects, a personal loan (max. amount $40,000) or a low rate credit card may be the option for you. To find out more about how we can help finance your renovation project, please fill out the form below.

Why choose Endeavour Mutual Bank?

  • Endeavour Mutual Bank has been providing banking services to the community for over 65 years. At Endeavour, you're not just a customer, you're an owner!
  • We’re not like the big banks. We are customer owned and by putting you first, our investment is in you without the conflict of interest between customers and shareholders.
  • We are not behind big banks in terms of facilities. We have more than 20 branches, Internet Banking, Mobile Banking App, Apple & GooglePay and an Australia-based call centre.