Lloyds TSB Reveals Increasing Popularity of Home Improvements

A growing number of Britons are planning to make development in their property.

Homeowners are willing to invest money and showing interest in taking home improvement loans. According to Lloyds TSB, an increasing number of people are planning to take their homes off the market which results in a recent decline in the economic climate. In a survey of estate agents, 55% of people pointed to go up in removing their property from the open market for the improvement in their homes.

It was showed that 59% of people had placed some plans which resulted in a downfall in the value of property. Half of the Britons are choosing to stay to flourish their property. Meanwhile, it has been noted that there is an increase of 19% in the loan applications for the purpose of home improvements.

Those who are looking for an effective way to improve their home obtaining a home improvement loan could be advisable.

The study also reveals that new kitchen is the most appealing feature for would be buyers, with around 79% of respondents showed interest in looking for such room. Over the half of the people reported that a new bathroom appeals to them when searching to buy a home and quarter wants to shift into a recently decorated home. Meanwhile, 29% of potential buyers quote a loft renovation as an attractive feature and 47% claims that an additional feature is something they look forward while hunting for a home.

David Wishart, director of Lloyds TSB, said: "In recent months we have seen a major rise in the home improvement personal loan demands. He also added that a home improvement loan is affordable and effective for homeowners to spread the cost of funding a renovation project."

News Categories