To help DIY enthusiasts

Britons are now using personal loans to fund their home improvements. Home improvements in the form of loft conversions are significantly adding up to the value of their homes.

London (loans-bazaar) June 07, 2006: Britains DIY enthusiasts are using personal loans to fund their latest craze loft conversions.

According to Alliance & Leicester's Personal Loan, once a loft conversion is completed, the value of the home increases by an average of £100,000 and this is attracting more and more Britons to undertake home improvements. The increase in the value of a home is quite high when compared to the actual cost of carrying out the improvements.

Some figures from Alliance & Leicester show that a dormer loft conversion to a three-bedroom home in London involves £25,000 on an average, while the returns could be anywhere around £146,000 should the homeowner decide to sell the property. Similarly, an average cost of a loft conversion in the north-west and the west Midlands is nearly one-fifth of the value that could be added to your home.

Richard Al-Dabbagh, Senior Personal Loans Manager at Alliance & Leicester said: Carrying out home improvements instead of moving can have amazing results, potentially increasing the value of your existing property and also saving a great deal of money as well.

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