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Renovating your house is one of the most exciting things you can do as a homeowner. It is also one of the most financially complex. Whether you are planning a kitchen renovation, a bathroom renovation, a full extension, or a whole-home transformation, the way you fund your renovation matters just as much as the tiles you choose.
At Zella Money, we help Australians access home loan options from banks and lenders across Australia to fund their renovation goals. We are not here to hand you a brochure and wish you luck. We sit down with you, understand your situation, and help you work out which renovation finance structure actually makes sense for your property and your budget.
Understanding your renovation finance options
There is no single loan product that suits every renovation. The right structure depends on your renovation budget, how much equity you have in your property, the scale of the work, and what your lender will accept. Some renovations are funded through a renovation loan that sits alongside your existing home loan. Others are funded by refinancing to access equity you have already built up in your home. For larger or more structural projects, a construction loan may be the right fit.
A construction loan works differently from a standard home loan. Funds are drawn down in stages as the build progresses, which means you only pay interest on what has been used. This can help with renovation cashflow, particularly when renovation costs are spread across a long renovation timeline. If your project involves council approval, renovation permits, or a licensed renovation builder, a construction loan structure is often the most appropriate path.
For smaller projects, or where you already have significant equity in your property, refinancing to release equity can be a practical way to access renovation funds without taking on a separate facility. This involves increasing your loan amount against the current value of your home. The amount you can access depends on your loan to value ratio (LVR), your income, and what lenders will approve based on your full financial picture.
The role of equity in renovation finance
Equity is the difference between what your home is worth and what you owe on it. If your property has grown in value since you bought it, or you have paid down a meaningful portion of your loan, you may be in a position to access equity to fund your renovation. This is sometimes called an equity release, and it is one of the most common ways Australians fund major renovation projects.
At Zella Money, we can help you understand how much equity you may be able to access, and which lenders are likely to support your renovation valuation. Not all lenders treat renovation projects the same way, and some are more comfortable with value add projects than others. Having a broker in your corner who understands how lenders assess renovation finance can make a real difference to the outcome.
Renovation interest rates and loan structure
One of the most common questions we hear is whether to go with a variable interest rate or a fixed interest rate for a renovation loan. The honest answer is that it depends on your circumstances. A variable interest rate gives you flexibility, which can be useful when renovation costs are unpredictable. A fixed interest rate gives you certainty over your repayments, which can help with budgeting across a longer renovation timeline.
Some clients choose to split their loan, fixing a portion for stability while keeping a portion variable to allow for extra repayments or redraw. Zella Money can walk you through the trade-offs and help you find a structure that suits your renovation budget and your broader financial goals.
What counts as a major renovation?
Lenders generally distinguish between cosmetic updates and structural or major renovation work. A kitchen renovation or bathroom renovation that involves moving walls, changing plumbing, or adding significant square footage is likely to be treated differently from a paint job and new flooring. If your project requires council approval or renovation permits, your lender will want to know. Some lenders require a fixed-price contract from a licensed renovation builder before they will approve renovation finance.
If you are planning to improve home value through a major renovation, it is worth thinking about how lenders will assess the property before and after the work. A renovation valuation, sometimes called an on-completion valuation, estimates what the property will be worth once the renovation is finished. This can affect how much you are able to borrow and how your loan to value ratio is calculated.
Why Zella Money for your renovation finance
Renovating your house is a significant financial commitment, and the decisions you make around home renovation finance will affect your cashflow, your loan structure, and ultimately how much value you add to your property. At Zella Money, we take that seriously.
We access home loan options from banks and lenders across Australia, which means we are not limited to one lender's products or policies. We look at your full picture, including your renovation timeline, your renovation budget, your existing loan, and your longer-term property goals, and we help you find a renovation mortgage structure that fits.
Whether you are looking to modernise a property, create your dream renovation, or simply build a more functional and modern home for your family, Zella Money is here to help you think through the finance side clearly and confidently. Renovating your house should feel exciting. With the right renovation finance in place, it can stay that way.
Getting a home loan can feel overwhelming. It doesn't have to be. At Zella Money, we've built a process that keeps you informed, supported, and confident at every step. Here's how we work together.
Let's Have a Chat: Everything starts with a conversation. We take the time to understand where you are right now, where you want to go, and what matters most to you. No pressure, no jargon. Just an honest discussion about your situation and your goals.
We Dig Into the Detail: Once we know what you're working towards, we take a closer look at your finances. Income, expenses, savings, existing debts. We look at the full picture so we can give you advice that's actually relevant to your life, not just a generic answer.
We Research the Market: With a clear picture of your situation, we search across a wide panel of lenders to find options that genuinely suit you. We're not tied to one bank or one product. Our job is to find the right fit, not the easiest one.
We Walk You Through Your Options: We present a shortlist of suitable loan options and explain each one in plain language. Rates, fees, features, flexibility. We cover it all so you can make a decision you feel good about. No hard sell, ever.
We Handle the Application: Once you've chosen the loan that works for you, we take care of the paperwork. We prepare and lodge your application, liaise with the lender, and keep things moving. You don't need to chase anyone.
We Keep You in the Loop: From application through to approval, we stay in regular contact. You'll always know where things stand. If the lender needs anything extra, we handle it quickly and let you know what's happening and why.
Settlement and Beyond: Approved and settled? We're still here. We check in after settlement to make sure everything's running smoothly, and we stay available as your circumstances change. One loan is just the beginning.
Ready to talk to the team? We're excited to meet you! Shoot though an enquiry and we'll get back to you ASAP!
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We used Jaclyn the Senior Finance Broker to buy our first home and she was amazing! She is so knowledgeable, made us feel valued and turned our dream into a reality. Can not recommend her enough! Shout out to Sal as well the Settlements Manager who helped make settlement nice and simple.
Chris Fallon
I cannot recommend Zella highly enough! Charlotte and the wider Zella team were with us every step of the way! They truly had our backs in securing the best home loan for our family. Prompt, informative and easy to deal with! Thank you so much for all your hard work!! xx
Olivia Jolliffe
I had a great experience with Zella from start to finish. The team was friendly and made our refinance super easy. Highly recommend!
Casey Sharrock
Huge thanks to Tara and her team! Highly recommend !
Maddie B
Bought my first home through Zella and so so glad I did! Georgia was extremely helpful from the start and patient with answering all of my stupid questions. Thank you again for everything!
Christine Untario
I really appreciated working with the team. They were really efficient, no question went unanswered and they were lovely to work with. I felt in good hands!
Jane Eldershaw
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For most standard lending appointments, no. We're paid by the lender once your loan settles. In rare cases where applications are highly complex, a fee may apply, but we'll always discuss and disclose this with you upfront.
Yes. We use bank-grade security systems and are fully compliant with Australian privacy regulations. Your information is treated with the highest level of care and confidentiality.
Absolutely. We assist clients across Australia and have a thorough understanding of different state and territory regulations, grants and incentives.
We keep communication clear and simple. Your broker will be available via email and phone, and we manage documentation securely through our electronic portal. Your initial meeting can be held over the phone or by video call, depending on your preference. We're always just a message away if you need support.
To get started, we'll need documents such as identification, proof of income (like payslips or tax returns), details of your assets and liabilities, and statements for any existing loans or credit facilities. Your broker will give you a personalised checklist so you always know what's needed.
Your borrowing capacity depends on factors like your income, expenses, existing debts, credit history and the policies of individual lenders. We'll work with you to assess your position and give you a clear understanding of what's achievable.
Yes. Our brokers stay across all available incentives, including first home buyer grants, stamp duty concessions and guarantee schemes. If you're eligible, we'll help you understand how to apply and make the most of these opportunities.
Absolutely. We specialise in guiding first-home buyers through the process with tailored advice, clear communication and plenty of support along the way.
Banks offer their own products. We offer you options. As your broker, we take the time to understand your goals and financial circumstances before searching across a broad panel of lenders to find solutions that genuinely suit you. We also stay across the latest policies, grants and niche lender options that could make a real difference to your outcome.
We conduct a credit check early in the process to help us best assist you. Your score is safe with us. If you have any concerns about your credit history, please speak with your broker — we're here to support you.
Pre-approvals generally last between three and six months, depending on the lender. We'll guide you through the timeline and help you refresh your approval if your property search takes a little longer than expected.
Once your loan is formally approved, we'll guide you through the settlement process. We work closely with your solicitor or conveyancer to ensure all requirements are met and everything runs smoothly right through to settlement day.
Definitely. We understand the nuances of self-employed income and have extensive experience presenting applications for business owners in a way that resonates with lenders.
No. In addition to home loans, we also assist with commercial lending, investment loans, refinancing and asset finance. Whatever your finance goals, we're ready to support you.
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