Home Improvement Loans

[Ronny]

I was browsing through various websites and found an article which proved interesting reading about how home improvements will become more and more popular:

"You can easily see why home improvement companies will be busy. Take a house valued at £300,000: The cost of moving is massive. Stamp duty alone is £9000. Add estate agent, solicitor, mortgage, financial adviser and moving fees and you will have waved bye bye to £20,000 for the joy of such a stressful event.

In effect the market will be self-stagnating until such costs are removed. Instead the consumer will decide to have a £20,000 discount on their next kitchen, conservatory or extension. With such low mortgage rates look out for a surge in those seeking a home improvement loan......"

[brian]

Of course, this presumes homeowners have money to spend on home improvements - and with the credit crunch in full swing, and loans less available, possibly not a time when many are investing. Certainly I know for a fact the bathrooms sector is very much in decline, so it looks like fewer people are developing bathrooms!

[gdwebs]

Yep the idea is usually people will pay off those fees when moving from equity increases, which isn't looking likely at the moment.

On the same token, like Brian said, thats assuming people actually have the cash to spare, as banks arn't likely to allow a loan that spending £30k on a few home improvements at the moment

[peteboy]

You could try robbing a bank or getting a government bailout though