A poll of moneysupermarket.com users has shown that 16% of Brits were planning to spend money on home improvements over the two bank holiday weekends while additional research shows one in five UK homeowners (19%) will be taking a loan out in the near future to improve their home.
The comparison site found a fifth (21%) of homeowners have borrowed money previously for necessary home improvements with the average loan value of £14,037.
Those from the West Midlands had spent the most money on average on their home improvements loan, at £29,586, while Scots spent the least - the average for Scotland was just £6,305, 45% less (£7,732) than the UK average.
Tim Moss, head of loans and debt at moneysupermarket.com, said: "With the warmer weather arriving, and TV full of DIY adverts many people may be thinking about taking advantage of the extra holidays and lighter nights to make changes around their homes.
“In addition, following the drop in house prices, many people may be left in negative equity and unable to sell their property. Therefore homeowners who had been looking to move may be forced to spend money to improve the value of their property, or simply make changes to ensure they can live happily in their home for an extended period.
“It is no surprise people will turn to a loan or credit card to make the necessary adjustments to their homes. However before you are tempted to splash out on expensive improvements, think about whether a simple lick of paint or new carpets would have a same impact on your home compared to an expensive fitted kitchen or a conservatory."
