New demand for consumer finance

A rise in homeowners choosing to improve or expand their homes rather than move has sparked demand for installers looking to offer consumer finance for a range measures such as windows, doors and conservatories.

Strong house price growth and the high cost of living has seen the continuation of the improve-not-move trend. The sector has been resilient against recent political turmoil, with neither Brexit nor the general election yet affecting consumer spending in this area.

Instead, builders and installers are seeing an increase in demand for a range of home improvement services including double glazing and conservatories, refurbishments, conversions and extensions – and finance options to cover these.

Austin Barcley, director of Improveasy, said: “Many homeowners are staying put and investing in their homes. For example, upgrading their windows and doors or refurbishing kitchens and bathrooms.

“It is also common now for young adults to move back in with their parents due to high living costs, creating demand for expansion projects such as loft conversions to comfortably house multiple generations under one roof.

“For some of these projects, homeowners are turning to finance options to help make their dream home a reality, presenting an opportunity for installers to win new business through offering finance, or part finance options.”

Improveasy offers financial solutions that installers can use to win business more easily.

Companies do not need to be FCA regulated as they will become Appointed Representatives (AR) and will appear on the Financial Conduct Authority (FCA) register. Once trained, they can then begin offering finance options in a responsible and compliant manner, under the Improveasy brand.