Lloyds TSB Personal Loans Reveal Loans for Home Improvement Projects Soar
Lloyds TSB Personal Loans has revealed that UK estate agents are losing out as homeowners are taking their property off the market and loans for home improvement projects soar
(I-Newswire) - New research from Lloyds TSB Personal Loans has revealed that over half ( 55 per cent ) of estate agents nationwide have reported an increase in homeowners taking their property off the market in favour of making home improvements.
Lloyds TSB Personal Loans ( http://www.lloydstsb.com/loans.asp ), surveyed 500 UK estate agents and over 1000 home owners to understand how would-be sellers are responding to the cooling housing market*. The research is published as Lloyds TSB ( http://www.lloydstsb.com/personal.asp ) revealed a 19 per cent, year on year increase in personal loan applications for home improvement projects.
The findings reveal that three in five ( 59 per cent ) homeowners who had been looking to sell their property have put plans to move on hold due to rising concerns over property prices. Half of those staying put are opting to renovate their existing property instead.
Fifty five per cent plan to undertake improvements to boost chances of a sale in the current less buoyant market. However, almost a quarter ( 23 per cent ) admit they are adapting their property to accommodate changing lifestyle needs and are keen to recoup any potential fall in house prices by adding long term value.
David Wishart, director of personal loans ( http://www.lloydstsb.com/loans/personal_loans_online.asp ) at Lloyds TSB, said: “In recent months we have seen a significant increase in home improvement personal loan requests. For the last decade homeowners have been able to sit back and rely on rising property prices to increase the equity in their home but sadly this is no longer possible. If you want to trade up and avoid substantially increasing your mortgage, you’ll need to add value to the house you're currently in."
TV presenter and property finder, Phil Spencer, commented on the research: “The current cooling of the property market is making homeowners think twice about selling up and many are opting to improve instead. In a buoyant market, people taking on a home improvement project could get away with less than perfect preparation or some slapdash sums, as their mistakes were covered by rising property prices. However, in today’s environment it is vital you plan any project thoroughly to ensure maximum return on investment.”
Lloyds TSB quizzed both estate agents and homeowners on the features most likely to help a property sell in the current climate. The findings reveal the top improvements likely to appeal to buyers are:
David Wishart continued: “Whether the motivation is a quick sale, adding long term value or accommodating changing lifestyle needs, it’s vital homeowners consider the financial investment they’re about to make. A personal loan can provide a hassle free, affordable way of spreading the cost.”
To help homeowners add value to their home Lloyds TSB personal loans has teamed up with Phil Spencer to create the Move or Improve Guide ( http://www.lloydstsb.com/moveorimprove ), offering practical advice and insider tips on the do’s and don’ts of home improvement. An audio podcast and PDF version of the guide is available to download free of charge.
Notes to editors:
* 1081 homeowners surveyed by Tickbox.net in June 2008. 500 UK estate agents surveyed by The Survey Shop in June 2008.
About Lloyds TSB Student banking Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority and signatories to the Banking Codes. Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN . Registered in England and Wales no. 2065.
For more media information or regional statistics contact: Amanda Glover Media Relations Manager Lloyds TSB Press Office 25 Gresham Street London EC2V 7HN 020 7356 2021
If you have questions regarding information in this press release contact the company listed below. I-Newswire.com is a press release service and not the author of this press release. The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. As some companies / PR Agencies submit their press releases once per week/month or quarter, make sure check the official company website for accurate release dates as our site displays the I-Newswire.com distribution date only. We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information.
Immerse yourself in mystery and magic with two exciting new casual games from Focus Multimedia and Big Fish Games Studios, one of the world’s leading casual game developers. Hidden Expedition Titanic and Azada join Focus’ popular Revival range of super-budget price games and are available in a store near you.
Edraw Max enables students, teachers and business professionals to reliably create and publish kinds of diagrams to represent any ideas. With large pre-drawn libraries and more than 4600 vector symbols, drawing couldn't be easier!
New range of cards launched to make you the cover star.Hallmark Cards in partnership with OK Magazine has launched an exclusive and exciting new range of greeting cards that gives people the chance to give family and friends the A-List treatment.
Many people choose not to pursue an accident claim. The reasons range from knowing the insurance company will settle; to they don't want the legal hassles and expense.
Many individuals and businesses have always purchased their personal computers from a well-known provider to pre-conceived specifications. Increasingly...
The effectiveness of SEO and PPC Services are directly related to the quality and quantity of the performance data that they have to work with. If you are seeking assistance in achieving a higher ranking on search engine results, then we suggest you visit RankYourWebsites.com, specialist in this area. If you have found your attempts at optimization to prove fruitless, the representatives at RankYourWebsites.com will have a solution to increase your traffic.
http://www.vineyardsforsalein.com/ - online island vineyard for sale, vineyard for sale paso, texas vineyard for sale, washington vineyard for sale, tuscany vineyard for sale, vineyard for sale santa, vineyard for sale California
Mark Flanagan, Managing Director of Manchester health and safety, food safety and fire safety consultancy, Shieldyourself, discussed the Scores on the Doors scheme when he made a guest appearance on the BBC’s 5 Live Radio Show recently.
