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.* Nemo’s competitive rates for loans range from 7.9% APR to 13.2% APR variable, with a typical 8.9% 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.

At Nemo we like to take care of life’s what ifs, and that’s why we have teamed up with Norwich Union to offer our customers an optional Payment Protection Plan. If you lose your income without warning, or through accident or illness, payments for you Nemo loan would be covered. Click here to find more information on Nemo’s Payment Protection Plan.

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.

*Repaying borrowing over a longer term may increase overall interest charges. Some of Nemo’s products are repayable over a term of 10-25 years.

Secured loans from Nemo are for personal purposes only. Nemo does not provide secured loans for investment or business purposes. A Nemo loan is secured on your home and is for homeowners with a mortgage only. All loans are subject to status.