Accessing equity by topping-up your mortgage is often the first place people look when they need to finance home improvements. But this often takes time and may have significant costs involved. A personal loan may have a number of advantages. Firstly, in terms of approval time, you could apply online in less than 15 minutes and be approved within days.
Secondly, although the interest rate may be higher, short term debt should be compared with long term debt. Paying off a personal loan in between one to seven years, could mean that a lot less will ultimately be paid. Additionally, you do not need to provide trade quotes and documentary evidence with a personal loan, which is handy if a few extras need to be bundled into the loan, like a new TV or a holiday.