Make your dream reno less dream-like and more real-like

Use it to fund your renovations

Credit and suitability assessment in under a week

Access to your funds within 48 hours of approval

You love your location…it’s so you

You figure even a few small improvements will add value to your house and you can see yourself staying there long enough to make taking the renovation plunge worthwhile. Sure, you’re in for a bit of a journey. But you’re emotionally packed and ready to take it. And you’ll find what you need to start preparing here.

You’re not really ready to go through with a reno

Life’s busy enough. Selling and upgrading seem the best move. But remember to think long term. Project your needs into the future. 10 years or more. Definitely more. And don’t forget the moving costs. Hmmm. Maybe a renovation could work…

4 steps to making a renovation budget

Lists are a way of life when you’re renovating. Here’s an important one to start.

Make a list of what you want to change then prioritise it
Scope out the project. Be realistic about costing the items and go deep into the details
Set up a timeframe for yourself and your suppliers
Consider contingencies. There’ll be some. Add a 20% buffer to cover extra costs

Top up

You can borrow more on your existing home loan. Same loan, with the advantage of an interest rate that’s lower than some short-term unsecured loan alternatives. Learn a little more below.


If you’ve been paying off more than you need to on your mortgage, you may be able to take those funds back to use on your reno.


Renovations provide an ideal chance to ponder on whether your home loan still suits your needs. A quick chat with one of our home loan specialists will help you figure out if there’s a better choice amongst our home loan options and how to apply to switch.

Personal Loans

If you don’t have enough equity on your home just yet, or your home loan doesn’t offer redraw then an ING Personal Loan could be the key to your reno. You won’t have to put up collateral and there are no ongoing or early repayment fees (other fees may apply). Depending on your situation, a personal loan could be good for smaller renovations, between $5,000 to $30,000.

5 questions you need to ask yourself

Is the renovation short-term or long term?

You will need to decide if you can live at home during the renovation. Either way, the job usually goes faster if you’re not living in it.

Are there council approvals, building permits or any environmental regulations to consider?

A building permit is usually required for all structural works. They help make sure projects are safe, functional and carried out by qualified pros. If you live in an apartment, you need to seek approval of the strata before undertaking the works.

Will the renovation affect the neighbourhood?

Besides creating noise, your renovation might impact neighbours. Think about whether your building will affect their light or view or shade their sunny backyard.

Does the house have any structural problems?

Before you start, arrange for a home inspection to identify any structural problems. That way, you’ll have a full picture from the outset of how big and expensive or hopefully inexpensive the job is going to be. Knowing if there are any hidden surprises (read shocks) is much better up front.

Who’s leading the operation?

Even if you’re renovating with a partner and making all the decisions like a well-oiled team, it’s best to put one person in charge of estimating, tracking and managing the budget and all the documents.

Top reasons to top up your loan

Increasing or topping up your home loan is a great way to get the funds you need for the reno you want. The amount you can top up your loan by depends on how much useable equity you have in your property and your current financial situation. That’s a little reminder that a bigger home loan will probably mean your repayments will be higher too.

The Benefits

  • Interest rates that are typically cheaper than short-term unsecured debt – like a personal loan or credit card.
  • Easy application process. We’ll arrange the valuation for you, so, that’s one less thing to worry about.
  • Credit and suitability assessment in under a week.
  • Access to your funds within 48 hours of approval.
  • Access to use the funds at your own pace. We’ll pop the money in your redraw, so you can use it as you need it.

The Features

  • Use it to fund your renovations. Note: it’s not available for structural renovations, i.e. knockdown rebuilds, because this would be considered a construction loan which is not currently offered by ING.
  • Because we put the money in your redraw this means you can use it as you need it, and you’ll only be charged interest on what you use.
  • No paperwork to sign (Yippee) – we can assess and process it all on the phone (however, we’ll still need a few documents like payslips but this can all be done over email)