Debt relief may be needed following DIY, finds moneysupermarket.com

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Debt relief may be needed following DIY, finds moneysupermarket.com

A study carried out into the plans of Brits for DIY this summer could result in some needing debt relief, if the figures from moneyseupermarket.com are anything to go by.

The price comparison site carried out research to find how consumers in the UK are planning to spend their Bank Holiday weekend and discovered that many are planning to do DIY.

However, it found many have taken out loans for home improvement in the past, with the average total coming in at £14,037.

Tim Moss, head of loans at debt at moneysupermarket.com, advised people to be careful, or they could end up spending more than they had anticipated on doing up their homes.

"If you do take out a personal loan for home improvements, make sure you borrow the right amount and don't be tempted to over borrow for the sake of it," Mr Moss added.

It follows on from an earlier report from the company, which found the costs of insurance in Dorking, Surrey, have seen their premiums rise by 46 per cent since January 2010.  ADNFCR-323-ID-800514070-ADNFCR

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