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Secured loans holders 'making green home improveme

Secured loans holders 'making green home improveme

Category: Loans

Updated: 17/11/2008
First Published: 17/11/2008

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Homeowners have been found to be using environmentally-friendly materials in home improvements in a bid to reduce costs.

Research by Halifax has suggested that an increasing number of those with secured loans are using green materials because they are cheaper.

Nearly two-thirds of those surveyed stated an intention to use them in the future, while around one in ten have already done so.

And for 38 per cent of people, cutting back on spending is the most important reason to be more environmentally-friendly.

David Rochester, head of underwriting at Halifax Home Insurance, observed a growing trend that has emerged in recent years.

He said: "Items such as fireplaces, baths and tiles have traditionally been popular, but many households are now likely to consider solar panels or wind turbines."

Homeowners were recently advised by Alliance & Leicester to consider taking out unsecured loans in order to fund improvements such as loft conversions.

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