Industry News from Yes Insurance

Homeowners renovating a kitchen or bathroom may not benefit as much as they might think, it has been claimed.

This is because research from GE Home Lending has suggested that such a project would only add £13,400 to a property, while the pricey job it may possibly increase home insurance costs.

The company added that a loft conversion or a room extension is a better idea - adding an average of £28,000 to a property or £45,000 if it is in London.

And Giacomo Giganetllo, unsecured loans sales leader of GE Home Lending, has warned consumer preconception on the matter is misguided.

"In many cases homeowners automatically opt for a new kitchen or bathroom … [But they] could be missing out on the most valuable additions," said Mr Gigantello.

Those carrying out home improvement projects over the summer should make sure their property is fully secured at night - minimising the risk of being targeted by opportunistic thieves.

© Adfero Ltd