Sainsburys Finance notes home improvement trend

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Sainsburys Finance notes home improvement trend

Research by Sainsburys Finance has shown that plenty of people are taking out personal loans to carry out home improvements.

Head of loans at the firm Steven Baillie suggested that the state of the housing market may be encouraging people to make alterations in their current properties rather than move to a new place.

He said: "Some recent reports indicate that many Britons are delaying buying major items at the moment, but our figures indicate that when it comes to our homes, improving them is the exception."

Figures released by Sainsburys Finance show that 20 per cent of personal loans taken out during the first six months of the year were solely for making improvements around the house.

The firm revealed there was a similar figure (20.7 per cent) during the same period of 2009.

Last week, the Sainsburys Finance car buying index indicated that the number of consumers intending to buy a new car in the next six months is at a three-year high.

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