How Much Does a New Kitchen Cost?
Kitchen costs in the UK range enormously depending on the size, specification and whether you're altering the layout. A budget kitchen renovation might cost £5,000 to £10,000, a mid-range refit £10,000 to £25,000, and a high-end kitchen with structural changes can easily exceed £30,000 to £50,000.
When budgeting, don't forget to include the cost of appliances, worktops, tiling, flooring, plumbing, electrics and any building work. Getting detailed quotes from kitchen fitters before you apply for extra borrowing ensures you request the right amount.
Does a New Kitchen Add Value?
A well-designed, modern kitchen is one of the most important features buyers look for, and it can add 5% to 10% to your property's value. The key is choosing a style that appeals broadly rather than something too niche or trendy. Neutral colours, quality worktops and good storage are consistently valued.
An outdated or poorly maintained kitchen can actively reduce interest from buyers, so even if you're not planning to sell soon, updating your kitchen can protect and enhance your home's value over time.
Remortgage vs Other Ways to Pay
Remortgaging offers the lowest interest rate for borrowing, but because you repay over the full mortgage term (potentially 20 to 30 years), the total interest cost can be high. For a £15,000 kitchen, you might pay less per month via remortgage, but a five-year personal loan could cost less in total interest.
Consider these alternatives alongside remortgaging:
- Personal loan — fixed repayments over one to seven years, no risk to your home
- 0% credit card — interest-free for a promotional period, good for smaller amounts
- Savings — no interest costs at all, if you have enough set aside
- Further advance — borrow extra from your existing lender without switching your mortgage
When Remortgaging Makes Sense
Remortgaging for a kitchen makes most sense when your current mortgage deal is ending anyway (so you'd be remortgaging regardless), you need to borrow a larger sum, or you want to keep your monthly outgoings low. If you can make overpayments to clear the extra borrowing faster, you'll reduce the total interest cost significantly.
It's less attractive if you'd face early repayment charges to leave your current deal, if you only need a small amount (under £5,000), or if you could realistically save up the money within a year or two. Always weigh the convenience of lower monthly payments against the long-term cost.
Important: Your home may be repossessed if you do not keep up repayments on your mortgage. There will be a fee for mortgage advice. The actual rate available will depend on your circumstances. Think carefully before securing other debts against your home.