Most Britons cannot afford to refurbish a property after moving in, it has emerged.

Research conducted by insurance provider More Than reveals that 60 per cent of consumers are faced with affordability issues due to the cost of their property.

But the majority (51 per cent) also object to the similarity of mass-produced new-build housing.

One solution could be to obtain a homeowner loan, which can be taken out in addition to a mortgage and could provide the funds necessary for home improvements.

Mike Holliday-Williams, managing director of More Than, comments on the trend for swathes of construction to be undertaken at a time that "the impact on the average homeowner is twofold".

First is the extra cost involved in finding a truly unique property, while in addition "new owners will have to spend more time and money personalising their homes".

A Capital Economics study recently predicted that Britons are increasingly likely to use products such as homeowner loans to unlock their "housing wealth" in the future.ADNFCR-1287-ID-18341262-ADNFCR

Request a Callback

Fill in your details and we'll call you back