For Your Protection and Peace of Mind
All our loans & procedures are approved and qualified by our fully experienced compliance team to ensure they meet our high standards and comply with all current regulatory requirements
 News |
|
Search Categories |
| Archive News |
Homeowners 'show continued desire' for DIY
British homeowners show no signs of reducing investment for home improvements to their properties, a recent study from Halifax has found.
Although the rate of home loan approvals is slowing, according to Nationwide figures last month, the continued demand for home improvement and low interest rates may be helping to sustain home loan applications.
A total of 46 per cent of those surveyed had carried out improvements to their homes in the last 12 months and of those improvements, 75 per cent were found to be decorative – with paint and wallpapering found to be most popular.
Halifax's head of secured lending, Donna Spencer, said: "The continued desire to improve their homes shows that people are taking a responsible attitude towards their properties and enjoying making the most of them."
She added: "DIYers appear to be favouring simple, straight forward, inexpensive home improvements, which add value and update the look of an entire house, without the need for specialised materials or tools."
The survey revealed that over the next year the biggest priority for homeowners will be "refreshing a property's image", which involves redecorating and investment in new furniture.
The Bank of England released figures last month showing that during February borrowers took out £8.1 billion of secured loans on their homes.