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Loan News

USwitch Reports Further Utility Bill Rises For Homeowners
Despite Britain's six largest energy suppliers increasing the cost of their tariffs only a few months ago, consumers could be set to find themselves coming under further financial pressures, it has been suggested.

Drivers Urged To Check Motor Insurance Small Print
It is important for motorists to be fully aware of the terms and conditions of their motor insurance policies, it has been suggested.

MPC Maintains Interest Rates
The base rate of interest has been left unchanged, it has been announced.

Consumers Want Room For Hobbies In The Home

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Consumers Want Room For Hobbies In The HomeSignificant numbers of Britons would like to dedicate a room in their homes to one of their interests, a new study indicates.

Research carried out by Legal & General as part of its Changing Face of British Homes survey reveals that about nine out of ten (87 per cent) consumers have a pastime that they enjoy within the comfort of their property and desire to have a part of their home dedicated specifically to such a hobby. Findings from the financial services firm show that nine per cent of people want to convert space into a music studio or karaoke room. In addition, seven per cent of all respondents want a space in which to play either snooker or pool.

A home cinema, meanwhile, is wanted by 11 per cent of men. Four per cent of males would like room for a model railway, with just over one in ten (11 per cent) dreaming of having a place specifically to listen to music. In addition, 12 per cent of men are keen to have a snooker or pool room, although those of the opposite sex wanting this space falls to three per cent.

Women, on the other hand, appear to be more in touch with their artistic nature. An estimated 12 per cent of females want an arts and crafts room, with this proportion falling to three per cent among men. In addition, nine per cent of ladies questioned would like a space dedicated to sewing.

For those looking for a competitive way to finance transforming spare space into a dream room, applying for a homeowner loan could well be of assistance.

Overall, the study showed that a library is the most sought-after hobby area that consumers want. Some one in six (15 per cent) of those surveyed would like such a room. Such a statistic, the firm pointed out, shows that the firm’s love affair with reading is “still alive and well”.

Commenting on the figures, Ruth Wilkins, head of communications for Legal & General’s general insurance business, advised homeowners with plans to convert parts of their property to cater for their hobbies to make sure that they will be protected by their home insurance policy. She said: “Contrary to what many believe, this research shows that books and reading are very key elements to British home life. With almost nine in ten adults having a hobby at home, it is important that hobby equipment is covered by your household insurance. The value of a film, music or book collection can soon add up and gym equipment can be expensive to replace.”

Those looking to convert unused space in their property into a dream space may wish to take out a loan to fund the cost of construction work and filling rooms with specialist equipment, such as music instruments, home cinema equipment or a snooker table. In addition, taking out a home loan could provide consumers with extra income to purchase a comprehensive home insurance policy. Furthermore, this type of loan may be of help to people wishing to refurbish bathroom or kitchen space. Speaking earlier this year, Brian Berry, director of external affairs for the Federation of Master Builders, claimed that improving these two rooms could help consumers to increase the value of their home.

Loan Arrangers providing you with breaking homeowner loans news.

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