Thursday 23 November 2017

Dermot Bannon TV show blamed for jump in loans

Dermot Bannon and Lisa O'Brien. Photographer Verona McQuaid,
Dermot Bannon and Lisa O'Brien. Photographer Verona McQuaid,
Charlie Weston

Charlie Weston

A leading bank has reported a surge in people applying for home improvement loans.

And RTÉ's popular home make-over programme 'Room To Improve' has been blamed.

The Dermot Bannon-hosted programme has been cited by Bank of Ireland as one of the key reasons for a 38pc rise in consumers seeking to borrow to do work on their properties.

More than one-in-four applicants were looking to borrow between €10,000 and €20,000.

Homeowners over the age of 35 account for most of the applications, the bank said. Most seeking to borrow to renovate their homes are aged between 35 and 44.

Bank of Ireland's head of retail loans, Christine Hamill, said: "The popularity of TV programmes like RTÉ's 'Room to Improve' encourages homeowners to invest in their homes and put time and money into sprucing up the property."

It comes after figures provided by Onlinetradesmen.ie, the source website for qualified trade professionals, said it saw a 22pc increase in home improvement projects submitted by consumers in the first three months of this year.

For the first quarter, there were approximately 17,000 home improvement projects completed by Onlinetradesmen.ie, with the largest proportion relating to repairs and maintenance.

Ireland's new interior design event House will be held at the RDS on May 27- 28 with advice from Dermot Bannon, Jo Hamilton and Roisin Lafferty.

Visit house-event.ie for tickets and more information.

Irish Independent

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