Homeowners prioritise improvements over moving

Ryan Bembridge

April 26, 2016

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Homeowners are more likely to make home improvements than move this year, Clydesdale and Yorkshire Banks research has found.

The study found that 14% of UK homeowners plan to move this year but 21% want to stay put and carry out improvements.

Steve Fletcher, head of customer banking networks at Clydesdale and Yorkshire Banks, said: “This time of year is traditionally synonymous with spring cleaning and DIY and many homeowners also find it is a popular time of year to make decisions about whether to move or improve.

“We understand the challenges that homeowners face and can provide help and support whether it is a personal loan to help make planned home improvements or a mortgage to buy a larger home.

“We now offer 95% LTV mortgages to existing homeowners looking to take the next step up the property ladder and make that dream home a reality.”

London homeowners are most focused on moving, with 26% planning to move in 2016.

Yorkshire homeowners are most likely to be carrying out home improvements, with 25% planning to upgrade their home this year.

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