UK a nation of home improvers
New research from Sainsbury's Finance has shown that the UK is a nation full of home improvers.
The study discovered that one in five of all personal loans taken out in the six months to the end of June have been used to pay solely for home improvements, such as bespoke conservatories, pool houses and garden studios.
According to the bank, 20 per cent of personal loans were taken out to finance such projects, which represents only a small decline on 2009's figure of 20.7 per cent.
When compared to statistics from between 2007 and 2009, there was a 47 per cent increase in the number of Brits using personal loans to pay for home improvements.
The average value of a personal loan taken out for such a venture was £9,225 - a 12 per cent rise on last year's £8,237.
It means the total value of deals taken out to finance home improvements will stand at approximately £3.2 billion for the year if the trend continues.
"Some recent reports indicate that many Britons are delaying buying major items at the moment, but our figures indicate that when it comes to our homes, improving them is the exception," explained head of loans Steven Baillie.
In other news, Post Office statistics show that Brits could be willing to pay up to £20,000 more for a home with a sea view.
Posted by David Waxman
Conditions easing for first-time buyers
Property owners who have invested in a pool house or bespoke conservatory in anticipation of the housing market returning to normal may be buoyed by comments from FirstRungNow.com The online resource for first-time buyers has claimed...
Brochure
Would you like some more information on our conservatories? Order a copy of our brochure online today or call
Gallery
View either our residential gallery or our commercial gallery or view a number of our conservatory case studies.
