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Bank survey hammers home popularity of DIY

A massive £17bn will be spent on home improvements this summer as

growing numbers of property owners take up DIY, according to research by

Alliance & Leicester.

The bank&#39s movingimproving survey of 4,000 homeowners found the average

intended household spend on DIY for the next few months has risen by 23 per

cent to £981 from £558 in the spring.

This leap marks the third consecutive quarter that anticipated spending on

home improvements has risen. The bank found almost one in five people plan

to spend more than £1,000 on home improvements over the next three

months – up by 15 per cent in the past nine months.

A&L found the boom to be driven by single women in their 30s, who are

spending more than men of any age on DIY. Women intend to pay out up to

£1,433 over the summer months compared with up to £1,286 for men.

Head of mortgages and insurance Tim Hague says: “The findings highlight

the growth we have witnessed in DIY across the UK continues at an

accelerated pace and we judge this to be a public vote of confidence in the

property market.”


Scarborough flex goes redemption free

Scarborough Building Society has introduced the flexible lifetime discount mortgage.This mortgage is available for loans up to 95 per cent of valuation and a maximum of £250,000. It has a 1.4 per cent discount for the life of the loan which gives a current payable rate of 5.59 per cent. There is no arrangement fee […]

Death in zenith?

The state of the market and, in particular, distribution were the subjectsof a debate on the former Royal Yacht Britannia recently. The event, entitled Depol-arisation, the end of the IFA? was the first ofa series o ganised for senior industry executives by IBM, as part of itsInsurance Executive Impact programme, sponsored by Siebel. A panel […]

Recycling an income

With the launch of the Government&#39s website for silver surfers last week,we can expect those of retirement age to become increasingly well informedabout their financial affairs. But tax planning concepts will probably needa little help from financial advisers for some time to come. Take the tax regime introduced with stakeholder in April. Who would havebelieved […]

Merrill Lynch HSBC website comes top in survey

Merrill Lynch HSBC’s website has been ranked first for ‘usability’, by financial services research consultancy BlueSky International in its triennial survey of European online brokers.Merrill Lynch HSBC UK managing director Victor Dodig says: “We are delighted with our overall performance in the BlueSky Ratings after just two months of being in business. It’s a significant […]


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