Remortgaging 'helps with home improvements'

More home owners than ever before are using their mortgage to make vital home improvements despite this meaning remortgaging their property, according to experts.

Woolwich has found that home owners in the UK want to redevelop their homes and make various improvements so that they can add value to their investment. However it seems that remortgaging seems to be the only way to afford such work.

"Savvy buyers can often see through botched DIY jobs, meaning that sellers will either need to drop the price or employ an expert to re-do the task," said Andy Gray from Woolwich.

"In order to get the home improvements done properly people are increasingly looking to use their mortgage to fund them."

The most common home improvements seem to be revamping the kitchen or bathroom plus adding extra rooms though attic conversions and extensions are also very popular.

New research shows that many people are now considering home improvements as an alternative to moving home due to a lack of affordable properties in the UK.


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