20 May 2005
Many people are using personal loans to add extensions to their houses in order to avoid paying stamp duty and having to move to another house.
Recent research by the Royal Institution of Chartered Surveyors (RICS) showed that an extension is on of the best ways to improve their property in practical and financial value.
The most effective extensions were said to be those that made up for existing inadequacies the house might have, such as a new conservatory when the reception area is lacking.
Many people are increasing the value of their property by improving it, and the improvements are often financed by a carefully chosen loan.
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