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I would like to thank you for all your help and efforts to get the Baxi Boiler to us after all the trouble we had. My apologies for the delay in thanking you but it has been a busy time. Once again many many thanks for all your efforts.

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Financing your Bathroom Renovations

Renovating your bathroom can give you the chance to show your creativity, as well as helping you to create your dream bathroom. Your renovations may be a necessity – perhaps some repair work needs doing, or you want to rearrange the layout to increase bathroom space. Or your renovations may be purely aesthetic – you might want a more modern look, or are bored with the existing décor. Either way, you will often need to look into some form of financing to help fund your design project. Here we take a look at your financing options.

Depending on the scale of your bathroom improvements, you may be able to simply pay for renovations outright. Not everyone is fortunate enough to be able to do so however. In this case, you may want to consider a personal loan for your project. As loan financing is harder to come by these days, thanks to the global credit crunch, you want to make sure that you draw up a realistic budget before deciding how much you want to borrow.

Instead of planning your dream bathroom and then totalling up its cost, you should look at your existing financial situation first and then design your bathroom based on how much you can realistically afford to borrow. Designing to a strict budget like this can actually aid your creativity, and it helps you prevent overspending too.

Another financing option is to use your overdraft facility or a credit card. If you plane to use one of these options, then, again, you need to look at your finances. Take a look at your monthly incomings and outgoings, and figure out exactly how much you can realistically afford to spend on repayments each month. This will give you a clear idea of how much you can afford to go into your overdraft or spend on your credit card. This will also help you calculate how long it will take you to pay back any money that you borrow.

Another important financial aspect to bathroom remodelling is the affect that it can have on your home insurance. Any changes made to your home, especially when it affects your overall home value, can have a bearing on your insurance premium. You are required to let your insurer know of any proposed changes to your home - not letting your insurer know could invalidate your whole policy.

If your insurer decides that it needs to raise your premium in relation to your proposed plans, then you could make savings by holding off on renovations until your existing insurance policy is nearing its end. This will leave you free to search for an alternative insurance provider who may not charge as high a premium.

When searching for a new insurer, make use of the internet as many insurance companies offer their best rates online. Legal & General for example, offer a 15% discount on their home insurance policies to customers who purchase their home insurance with them online.

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