Sainsbury's Bank: Loans for home improvements more popular
www.moneynews.co.uk > Housing market > Sainsbury's Bank: Loans for home improvements more popular
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Money News |
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Sainsbury's Bank: Loans for home improvements more popular
Thu 12th Feb 2009
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The supermarket financial services supplier said that between 2007 and 2008 it had noticed a 53 per cent increase in the number of loans taken out to be used wholly or partially on home improvements.
Steven Baillie, head of loans at Sainsbury's, suggested that people may be trying to add value to their current homes in order to attract higher bids for them when the housing market recovers.
He added: "It is well-documented that the housing market struggled last year and our figures might suggest that people have decided to stay put and make the most of their existing homes."
Last month, Sainsbury's Bank revealed it had cut the rates of interest on its loans to 8.1 per cent.
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Related News : Housing market |
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Related News : Sainsbury |
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