Tuesday, April 26, 2011
Category:
Home Improvements
According to moneysupermarket.com, ‘Britain’s passion for home and garden improvements always increases over a Bank Holiday period’. In fact, it has been revealed that 16 percent of the price comparison site’s users will be spending money on home improvements over the two forthcoming Bank Holiday weekends.
Furthermore, moneysupermarket.com’s research has shown that 19 percent of homeowners will be taking out a loan to fund home improvements in the near future. It was also found that 21 percent of homeowners have borrowed an average sum of £14,037 for this purpose in the past.
On a regional basis, people from the West Midlands were found to have spent the greatest amount of money – on average – on their home improvements loan, at £29,586. In contrast, the research uncovered that people from Scotland have spent the least, at £6,305.
Findings have also shown that people from Northern Ireland are most likely to have taken out a loan for the purpose of home improvements, at 28 percent. This figure reportedly stands at 24 percent amongst those from East England.
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Homeowners who would like to embark upon home improvements, but do not have the money required, could consider taking out a secured loan to make this possible. One of many finance options available, a secured loan for
home improvements could allow borrowers to transform their current property into their dream home. For example, a tired kitchen or bathroom suite could be replaced with a new, modern counterpart. What’s more, borrowers who would like more living space could even consider extending their property.
