Renovation Loans

If your renovation loan application is approved and the contract is signed, the funds are directly deposited into your nominated account for payment to contractors at your discretion. 

Our renovation loan repayment calculator can estimate the monthly repayment, determined by the borrowed amount, rate, and selected term.   

A renovation loan from Plenti can be used for various purposes, such as upgrading your kitchen, fixing a burst pipe, or giving your home a fresh coat of paint. The funds are flexible for any home repairs or updates.  

While the maximum limit is $65,000 per applicant, the personalised loan amount depends on your application and financial circumstances. It's advisable not to borrow more than necessary to avoid unnecessary increases in repayments and total interest paid.

In some cases, Plenti may provide a 'counter-offer,' a conditional approval for a lower loan amount deemed more affordable based on your application.

To qualify for a Plenti renovation loan, you must meet the following criteria:

•   Age: 18 years or older
•   Citizenship: Australian citizen or permanent resident
  
•  Income: earn over $25,000 annually from a verifiable, regular income source
  
• Credit History: maintain a good credit history
  

If you're self-employed and uncertain about your eligibility, don't fret. You can apply as long as you have been in your current role for at least 12 months.

Plenti’s application process is quick, easy, and entirely online. Once you have confirmed that you are eligible for a renovation loan, you can get a rate estimate from Plenti by clicking here. If you are happy with the estimated rate, continue the application by simply clicking through to the next step.*

Applying for a renovation loan with Plenti is a swift and seamless online process. After confirming your eligibility, click the provided link to obtain a rate estimate. If you are satisfied with the estimated rate, proceed to the next steps with a simple click.

A kitchen renovation can transform a dated area into the vibrant heart of your home. Here’s a quick guide to the costs and financing options:

Typical Kitchen Renovation Costs

• Quick Refresh ($10,000+): For a small kitchen needing minor updates like new cabinetry, laminate benchtops, and basic appliances while keeping the existing layout.
• Standard Renovation ($20,000+): Mid-range updates with features like engineered stone benchtops, designer splashbacks, and quality appliances, offering more flexibility in the design.
• Full Makeover ($40,000+): For those who love food and entertaining, featuring custom cabinetry, premium benchtops, and top-tier appliances with a redesigned layout.

Saving Tips

• DIY Tasks: Save on trades by handling tasks like removing old cabinetry and flooring yourself.
• Keep Layout: Avoid moving plumbing and electrical services to reduce costs.
• Cabinetry: Integrate open shelving to cut costs on cabinetry.
• Appliance Brands: Opt for quality yet lesser-known brands or second-hand options.
• Simple DIY: Handle easier tasks like painting to save money.

Financing Your Renovation

If you’re ready to start your kitchen renovation, consider a renovation loan to finance your project. Plenti typically provides personal loans up to $65,000 which could help finance your dream kitchen. Get started by submitting a rate estimate today.

Bathroom renovations can turn a basic space into a luxurious sanctuary. Here’s a quick guide to the costs and financing options:

Typical Bathroom Renovation Costs

• Basic Makeover ($10,000+): Simple updates for a small bathroom, including low-cost taps, vanity, toilet, and basic tiling. Stick to the existing layout with budget-friendly items.
• Mid-Range Revamp ($20,000+): More options for style and mid-range fittings like a frameless shower screen, freestanding bath, and upgraded lighting. Limited flexibility for major layout changes.
• Deluxe Upgrade ($30,000+): Premium touches such as high-quality fixtures, dual shower heads, designer tiles, under-floor heating, and an entirely new layout. Ideal for a luxury experience.

Saving Tips

• DIY Tasks: Handle tasks like removing old fixtures and hauling debris yourself to save on trade costs.
• Keep Layout: Stick to the existing layout to avoid expensive plumbing and electrical changes.
• Smart Tiling: Tile only essential areas and consider clearance tiles for budget savings.
• Prioritise Splurges: Focus spending on key items like bathtubs or quality tapware and save on others.
• DIY Finishing Touches: Take on simpler jobs like painting and installing accessories yourself.

Financing Your Renovation

Ready to start your bathroom renovation? Consider a renovation loan to fund your project. Plenti typically provides personal loans up to $65,000 which may assist you to build your  dream bathroom. Begin by submitting a rate estimate today.