If you’ve extended your property upwards and outwards with an extension or loft conversion and still think your home is too small or maybe those options are not practical, the answer could lie beneath your feet. If you’ve got an older property with a cellar, then you could consider converting it to add more space to your home. Converting damp cellars into pleasant, dry, living areas is becoming increasingly popular. A loan from Nemo could provide the funds needed to make such home improvements.
Your Nemo loan could allow for an existing cellar to be tanked, that is given a waterproof membrane, plastered and decorated, and also given a new stair case for a relatively low cost. It may sound daunting, but you could effectively add an extra storey with little change to the outward appearance, and you might find that you add value to your property.
With a loan from Nemo, you could borrow between £10,000 and £100,000, repayable over a term from 5 to 25 years.* Our typical rate is 10.9% APR variable.
If you have already worked out the amount needed to convert your cellar, and would like to see how much your monthly repayments on a Nemo loan would be, click here to see our repayment calculator.
A cellar conversion can be used for a number of things. By converting the extra space into a play room for the children, remembering that the cellar will usually have good sound-proofing and will be extremely well-insulated by the surrounded earth, it could be particularly useful for noisy teenagers!
The possibilities are endless, from gyms to office spaces, for those wanting to work at home; with a Nemo loan you could make the most out of your home. So, why delay? Apply today for a Nemo loan. Nemo loans are secured on your home and are All loans are subject to status.
To apply for a Nemo Loan, click here.
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