Recent research suggests that UK homeowners are opting to improve their homes rather than sell them.
A Lloyds TSB Personal Loans survey found that over half (55 per cent) of estate agents were experiencing homeowners taking their properties off the market in favour of making home improvements.
Lloyds TSB director of personal loans David Wishart explained that the national financial situation is affecting the trend.
"In recent months we have seen a significant increase in home improvement personal loan requests," he said.
"For the last decade homeowners have been able to sit back and rely on rising property prices to increase the equity in their home but sadly this is no longer possible.
"If you want to trade up and avoid substantially increasing your mortgage, youll need to add value to the house youre currently in."
Homeowners can add value by installing a conservatory or glazed kitchen extension, both of which give extra space and light.