4 April 2005
As homeowners continue to spend increasing amounts of cash on DIY improvements, personal loans are becoming ever more the ideal solution to fund this sweeping craze.
According to new research from Halifax, spending on DIY has more than doubled in the last 20 years.
Indeed, spending increased by 5.8 per cent this year, up from £14.5 billion in 2003 to £15.4 billion in 2004, according to the financial group.
"Most of this increase has been in the form of DIY with households increasingly doing jobs around the home themselves," commented Halifax chief economist, Martin Ellis.
"Although we are now doing more jobs ourselves, the actual amount of work done by tradesmen on home maintenance and repairs last year was almost identical to that in 1994."
Although many enthusiasts still choose to finance their DIY activities through credit card transactions, personal loans are recommended as a more convenient and manageable financial solution.
Compare all UK personal loans at uSwitch.com and find the one to suit your needs.
© 2008 Adfero Ltd
Content for the uSwitch.com market news service is provided by a third party, Adfero Ltd. Whilst uSwitch.com makes reasonable efforts to check the reliability of this content, uSwitch.com does not guarantee the accuracy thereof or endorse the views or opinions given by Adfero Ltd, unless expressly stated otherwise.