A study by Sainsbury’s Finance has found that a fifth of the personal loans they have authorised during the first half of the year were for home improvement projects. The total cost of home improvement loans had risen by 12% at £9,225.
Head of loans at Sainsbury’s, Steven Baillie, commented that although many people were currently putting off buying bigger items, the theory of ‘improve not move’ was definately in evidence from their figures.
