You may be looking to fit a new kitchen, or add an extra bathroom. Perhaps you're looking to remodel the garden or add an entertainment area.
You may be able to borrow extra required funds on your existing home loan without having to take out a completely new loan.
Or, if we can find a better deal than your current home loan, adding the cost of the new renovations may not seem that expensive, because refinancing your existing loan may actually reduce your current repayments.