Britons keen to improve homes - Mortgages - News - Moneyfacts

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Britons keen to improve homes

Britons keen to improve homes

Category: Mortgages

Updated: 30/04/2009
First Published: 29/04/2009

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 It is now over 6 months old so the content may be out of date.

A quarter of Britons are set to pick up their DIY tools this year in an effort to increase the value of their homes.

While the mortgage market has shown some tentative signs of recovery, house prices are still historically low. As a result, 25 per cent of homeowners are planning to sink money back into their property by making significant improvements.

Of those planning for a summer of DIY, two thirds said they were doing so to make their homes look as they wish, while eight per cent are eyeing an increase in the value of their property, according to

People in the 18 to 34 year old bracket are most likely to invest money into their homes with property value in mind; 17 per cent cited this as their main motivation.

"It is encouraging to see not all homeowners are allowing themselves to be beaten by the downturn," said Richard Winder, spokesperson for the website.

"Many are turning their attention to the house they're in and planning substantial home improvements this year, which could potentially add monetary and aesthetic value to a property."

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Homemover numbers fall for first time since 2011

The mortgage market enjoyed a record year in 2016, so it may come as a surprise to hear that the number of people moving home has fallen for the first time in five years, with fewer apparently taking advantage of the market.

2016: the best year for remortgaging since 2009

Remortgaging has certainly seen a surge in activity of late, helped in no small part by the dramatic drop in mortgage rates over the last year, so much so that 2016 as a whole proved to be the best year for the sector since 2009.

Homeowners underestimate remortgaging savings

Remortgaging has been enjoying a surge in popularity in recent months, and considering how much you could save, it’s a no-brainer! Unfortunately, many fail to realise the extent of potential savings, which could mean too few make the switch.