DIY Wannabes 'Should Take Out a Personal Loan'

Homeowners planning to make DIY home improvements to their property should consider taking out a personal loan to pay for the job, Alliance & Leicester has said.

Research from the personal loans provider shows that the planned renovations will cost, on average, £12,000 each. Around three in four of wannabe DIYers also told Alliance & Leicester that TV shows such as Property Ladder were the source of their home improvement plans.

The most popular renovation jobs polled were redecorating rooms (planned for by 54 per cent of respondents), putting in a new bathroom suite (43 per cent) and fitting new flooring or carpeting (41 per cent).

Richard Al-Dabbagh, head of personal loans at Alliance & Leicester, commented: "Homeowners who are looking to make…higher cost [home improvements] might consider taking out a personal loan to fund such improvements, but it is essential that they shop around for the best deal to suit them to make the most of their investment."

He added: "TV programmes appear to make home improvements…an easy thing to do, and this has focussed homeowners' minds on improving their current home. Home improvements should make properties desirable, not only for homeowners while they are living in the house, but also for when they choose to make the most of the investment of time and money and sell."