Home Improvement Loans

QWhat Is The Best Way To Fund Small Improvements?
AThe costs of most smaller DIY projects are paid from savings or by revolving credit, such as credit or store cards. Paying from savings is by far the cheapest option, especially now that interest rates to savers are quite low and are expected to fall. Some instant saver accounts now offer little more than 1-2% interest per annum. No borrowing obviously means no repayments, which is the ideal situation. Credit or store cards can be a very expensive options if the borrowing runs on and on. Store card interest rates have not tumbled in line with falls in the Bank of England base rate, and can be as high as 30%, or more than ten times the rate of inflation. Some credit cards offer "teaser" rates of around 6%, but typically these last only six months or so, and then borrowers face rates of 15-18%. If there are no real plans as to how long it would take to repay the borrowing, then a personal loan would be a more disciplined and cheaper option.