Jump in home improvement loans given out to property owners

The value of loans to upgrade properties surpassed finance for cars for the first time

More than €500 million was drawn down last year to improve properties. Picture: Getty

There has been a significant rise in the number of people taking out home improvement loans, a new report has found.

A study from the Banking & Payments Federation Ireland found €533 million in home improvement loans was drawn down in 2022, a rise of more than 15 per cent compared to 2021.

Some €126 million was drawn down In the final three months of the year, a rise of 8.7 per cent compared to ...