Renovation loans
From $2,000 to $5,000 to turn your current place into something you love.
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Renovate instead of moving
Looking at Sydney or Melbourne property prices lately? Yeah, we know. It’s enough to make anyone think twice about moving. That’s why more Australians are choosing to renovate instead. Skip the stamp duty, avoid the hassle of moving, and turn your current place into something you actually love. CashPal offers renovation loans from $2,000 to $5,000 to help make it happen.
Why Australians are renovating instead of moving
Let’s be honest. Moving house in Australia has become ridiculously expensive. By the time you factor in stamp duty, agent fees, removalists, and the premium you’ll pay in this market, staying put starts looking pretty smart.
Besides, you’ve already got the good stuff sorted — the neighbours you actually like, that school your kids are happy at, the local cafe that knows your order. Why throw all that away?
How our renovation loans work
We keep it simple. Borrow between $2,000 and $5,000 for your home improvements. Fixed rates, clear terms, no nonsense. Apply online, get an answer the same business day, and if you’re approved, the money’s usually in your account within 24 hours. Because when you’re ready to rip out that awful bathroom, you don’t want to wait weeks for the bank to make up their mind.
What people actually use renovation loans for
We’ve funded all sorts of projects over the years.
Kitchen updates
Still got those beige benchtops from 1995? Oven that only works if you know the secret? Kitchens cop a beating in Australian homes, and they’re often the first thing people want to fix.
Bathroom renovations
Nothing dates a house faster than an old bathroom. Whether it’s those salmon-pink tiles or taps that need wrestling to turn off, bathroom updates make a massive difference to daily life.
Outdoor areas
This is Australia. We live outside half the year. Decks, pergolas, outdoor kitchens — these aren’t luxuries, they’re how we make the most of our climate.
Making homes more efficient
Are your energy bills through the roof? Solar panels, better insulation, or decent windows can slash your bills and make your home more comfortable year-round.
Fixing what’s broken
Sometimes it’s not about making things pretty. Leaking roofs, dodgy plumbing, or electrical work that makes you nervous — these things need sorting, and our personal loans can help.
Applying for a loan through CashPal is easy
Here’s how it works.
- 1
Submit your online application
100% online. Complete your application in minutes and receive a fast assessment from our team.
- 2
We assess your application
We’ll review your details, verify your information, and determine whether we can offer you a loan.
- 3
Review and sign your contract
If approved, we’ll send you your loan contract electronically for you to review and sign.
- 4
Funds sent fast
Once your contract is signed and final checks are complete, we’ll transfer your funds directly to your bank account, often within 1 hour.
No impact to your credit score
Why renovating makes sense right now
Moving costs a fortune — we’ve covered that. But there’s more to it. When you renovate, you get exactly what you want, not what some previous owner thought looked good in 2003. You design it, you choose the materials, you create your space.
You can also do it in stages. Can’t afford to do the whole house? Start with the bathroom. Add the deck next year. It’s flexible. And here’s something people forget — good renovations add value. Do it right and you’re not just spending money, you’re investing in your property.
What it costs
Our interest rates are competitive and fixed. That means your repayments stay the same for the whole loan, with no nasty surprises when rates go up. The exact rate depends on how much you borrow and your financial situation, but we tell you everything upfront — no hidden fees appearing later.
Planning your renovation
Before you apply, get some quotes. Australian renovation costs vary heaps, but roughly — and pro tip: add 20% to whatever the tradie quotes you. There’s always something unexpected once you start pulling things apart, especially in older houses.
| Project | Typical cost |
|---|---|
| Basic bathroom | $5,000 – $15,000 |
| Kitchen refresh | $10,000 – $30,000 |
| Deck or pergola | $5,000 – $20,000 |
| Single room reno | $5,000 – $15,000 |
Renovation loan FAQs
Can I use it for DIY?+
Absolutely. Buy materials, hire tools, whatever you need. Just be realistic about your skills. YouTube makes everything look easy until you’re standing in your half-demolished bathroom at 11pm.
Do I need to own my home outright?+
No. Plenty of our customers have mortgages. We look at whether you can afford the repayments on top of your other commitments.
When do I have to spend the money?+
Once it’s in your account, it’s yours to use when you’re ready.
Can I pay the renovation loan off early?+
Yes, and we won’t charge you extra for it. Come into some money? Pay it off and save on interest.
Ready to start your reno?
Fixed rates, clear terms, no nonsense. Apply online, get an answer the same business day, and — if approved — the money’s usually in your account within the same day.
- MJ
- KZ