Bathrooms on Finance - Bathroom Financing Options Surrey

our bathroom is one of the most important areas in the house second to the kitchen. It’s the place where you do your morning and evening routines, so it makes sense that it’s relaxing and comfortable. Not to mention, it should be aesthetically pleasing so that you like to spend your time there.

The problem is, a lot of homeowners don’t have the budget to breathe new life into their bathrooms, as much as they aspire to do so. Bathroom renovation, although popular, is quite exorbitant.

So, if you are planning to update the room but are struggling to save some cash for it, we recommend you take a look at some financing options that allow you to spread the cost.

IGD Building has now partnered with iDeal4Finance. The latter can help you fund your renovation projects in no time. This option lets you spread the cost, taking a major burden off your wallet. We provide the materials, and designs and carry out the work needed, they give you the cash. It's quick and simple as that.

Disclaimer: Please note that IGD Building is an Introducer Appointed Representative of Ideal Sales Solutions Ltd, t/a Ideal4Finance, not the lender. This is for information purposes only. For further details on the available monthly payment options, please contact the company.

Bathroom Finance Application Process

To start your application process, simply click on the image below.

bathroom financing options banner by ideal4finance and igdbuilding

If you do want to use iDeal4Finance as your payment method, you first need to go through their online paperless application process and processing system.

To get started, all you have to do is follow our unique URL and submit your data on the online form and at payment stage. You need to fill out a couple of details like your name, e-mail address, and valid mobile number.

Once you are done, you should wait for an expert to contact you and have all the details arranged for you. It’s as simple as that.

They will proceed to ask you for some proof of income such as a recent bank statement or permanent employment. This is to verify that you can provide regular sustainable income. Eligibility criteria apply for pretty much every payment method of this kind.

It won’t take much time and before you know it, you will get the funds you need for your new bathroom while also being able to spread the cost. We also provide kitchens on finance via iDeal4Finance who also work with us to provide our clients with home improvement loans and financing for house renovations and loft conversion and house extension financing.

Please, keep in mind that we are not the lender, which means we cannot offer independent advice. If you have any questions regarding our partner's funding options, make sure to get in touch with iDeal4Finance.

How Do I Qualify for Bathroom Financing?

In order to qualify for financing for your bathroom renovation, you must meet certain eligibility criteria. Most finance providers state that you must:

  • Be a permanent UK resident with at least 3 years of UK address history
  • Have a UK bank account that accepts direct debit
  • Be 18 years of age
  • Have regular employment and regular sustainable income
  • Not be subject to a Debt Relief Order or bankruptcy
  • Have no outstanding County Court Judgements (CCJs)

Make sure you meet those criteria before you make your credit decision. Be prepared to have your borrowing history checked in advance.

How Much Does It Cost to Finance a Bathroom?

The cost to finance a bathroom in the UK varies based on a slew of factors like the interest rate, the total cost of the bathroom, your geographical area, your credit score, and the repayment period.

Another factor is the size of the project, the materials you are going to use, and even the style you opt for. Depending on this, your bathroom can cost anywhere from a few thousand pounds to tens of thousands of pounds.

Mind you that the interest rate will also vary. Normally, it ranges from 3% to 15%. The better your credit score, the smaller the rate you can negotiate.

That being said, you should shop around and compare offers before you decide on a credit lender.

As for the repayment period, it varies from a few months to several years depending on the loan amount and terms. It’s important to mention that even though you will get lower monthly payments when your repayment period is longer, you will also pay more in interest over time.

Bathroom Credit Calculator

man calculating bathroom financing options

Before you get started with your credit application, you can use a bathroom credit calculator to see what your monthly payments will be like.

In most cases, you have to input your loan term, interest rate, and loan amount to determine the size of your monthly payment.

This will give you an idea of whether you will be able to make those instalments on time. It will help you figure out whether you should take out a loan or not.

What Are the Potential Advantages and Risks of Bathroom Finance?

Advantages of finance application for UK resident:

  • It’s more affordable since it allows you to spread the cost of your new bathroom project over a period of time
  • You will get a brand new bathroom without having to save money your whole life until you can afford it
  • With a fixed monthly payment, you will find it’s easy to manage your budget after credit application and approval

Risks of bathroom finance:

  • You'll have to pay interest on the loan, which increases the cost of the renovation
  • If you don’t make payments on time, you will be subjected to extra charges that will damage your credit rating and may stop you from getting a new credit agreement in the future
  • Since there are interest charges, you will end up paying more for your renovation project than the actual cost is

Pay Monthly Finance

bathroom financing options banner

One of the things with loans is that you know in advance what your regular monthly payments will be. A pay monthly finance is a great option that can be useful if you are already involved in other loans.

Multiple financial commitments can be challenging to manage, so having this option enables you to plan your expenses more carefully throughout the month.

As always, eligibility criteria apply when you want to spread the cost of your payment. A minimum spend may be needed. Your borrowing history and financial circumstances will be reviewed before you can get that kind of loan.

Buy Now, Pay Later

With buy now, pay later, you can defer payments for up to 6-12 months. Unlike with the previous option, there are no monthly payments throughout this period, giving you more time to save money before interest charges are put in place.

Keep in mind that unless you pay off your loan within that period, you will be subjected to higher interest charges and direct debits, respectively.

Also, a minimum spend might be required. As with any loan option, you should be careful with the buy now, pay later bathroom. Again, your borrowing history and financial circumstances will be reviewed to confirm you are indeed suitable for this type of payment.

What is Your Budget?

Another key thing to take into account is your budget. You should consider your income, expenses, additional loans, and unexpected expenses that may come up during the month.

This will give you an idea of what amount of money you can safely borrow. Don’t forget to add the interest charges to the cost before you attempt to obtain credit from the customer portal that offers retail point-of-sale credit and more.

What Happens If My Application Isn't Accepted? 

If your finance application doesn’t go through, unfortunately, you won’t be able to get funds for your bathroom project from a credit lender.

This means you have to postpone the renovation until you have the money to cover the full cost.

Another thing you can do is to look for alternative financing if you still haven’t exhausted all your finance options. Keep in mind that having multiple loans could be bad for your credit rating, which will reduce your likelihood to select finance in the future.

Frequently Asked Questions about Bathrooms on Finance

How do I find and hire a bathroom fitter?

Sometimes it can be challenging to find a good bathroom fitter but there are a few tips to keep in mind that can make the process much easier.

The first one is to get recommendations from family and friends. Choose someone you trust. Second, try an online search. Read reviews left by previous customers to get an idea of the expert’s trustworthiness.

Go through trade directories like the Guild of Master Craftsmen or the National Association of Professional Inspectors and Testers (NAPIT) for a fitter. They list only qualified and trustworthy professionals.

Remember to ask different fitters for quotes and compare prices until you find the one that suits you the most. Give us a call if you're looking for a fitter in Surrey.

How can I save money on a new bathroom?

There are different ways to save money on a new bathroom. The first one is to do the job yourself. This might work for you if you have adequate skills and experience with it. A DIY approach will save you lots of bucks as it requires minimum spend on workmanship.

Second, you could shop around for materials and fixtures. Search online for discounts and deals that may be of your interest.

And third, repurpose existing furniture and fixtures. Breathe new life into old items instead of purchasing new ones.

Can I get a bathroom on finance even if I have bad credit?

Yes, it is possible to get finance for your bathroom with bad credit, although it may be more difficult than usual.

Mind you that the loan terms of your credit agreement may not be very favourable. You might have to provide a guarantor or collateral.

Alternatively, you might have to consider using a credit card or a personal loan. Your credit decision will depend on your unique financial circumstances and situation. Choose wisely.

What does representative APR mean?

This stands for Annual Percentage Rate and is used for the interest rate that the company advertises to the majority of borrowers.

However, in the end, every customer is offered an individual interest rate based on multiple factors but mostly on their credit score. Before applying for a loan, it’s important to understand the terms of your finance agreement.

What is interest-free credit?

An interest-free credit is what the name implies: a credit that doesn't come with an interest, unlike interest-bearing options. This usually occurs for a certain period of time.

And you are still obliged to pay off the loan amount in full by the due date; otherwise, additional charges will be incurred. Late or missing repayments usually come with consequences.

Do I need a UK bank account for a credit agreement?

Yes, in the UK, you have to provide a bank account where direct debits will be taken each month as you sign your finance agreement.

Do banks send statements every month?

In most cases, banks will send a monthly statement via mail alongside other bank details. This often includes deposits, credit transactions, monthly repayments, finance charges, and purchases.

What does credit subject to status mean?

It means that your getting approved for a loan will depend on your income checks and credit rating. It's usually linked to unsecured loans.

What is a credit check?

A credit check carried out shows information about previous or existing commitments that you may have. It reveals how you have managed credit in the past, i.e. your borrowing history. This will affect the cash price you can borrow and the terms of your credit agreement.

What is an early settlement fee?

This is a penalty when you pay off your loan too early or you simply pay more than what your fixed monthly instalment states. Not all credits have this fee, e.g. interest-free credit but in the end, it is your financial circumstances that will determine your finance options and respective cash price.