Alliance & Leicester loans support 'lucrative loft conversions'

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Alliance & Leicester loans support 'lucrative loft conversions'

Those people savvy enough to make extensions to their home could increase the value of their property significantly, new research from Alliance & Leicester shows.

According to the group, a loft conversion could prove to be one of the most financially fruitful undertakings.

While the average dormer loft conversion costs in the region of £23,000, Alliance & Leicester estimates that such an enterprise can add £100,000 to the value of a property.

The group is encouraging those people who want to undertake a conversion to their home to take out a competitive Alliance & Leicester personal loan.

Offering loans of between £7,500 and £20,000 at a typical rate of 6.3 per cent, the Alliance & Leicester personal loan will entail affordable monthly repayments.

Richard Al-Dabbagh, personal loans manager at the group, said: "Taking out an Alliance & Leicester personal loan in order to fund all, or part of a loft conversion, can be a far cheaper option than moving to a larger house to gain an extra bedroom.

"Carrying out home improvements instead of moving can have amazing results, potentially increasing the value of your existing property and also saving a great deal of money as well," he added.

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