Taking out a home improvement loan can help boost the value of property, it has been revealed.

According to head of mortgages for Woolwich Andy Gray, "Home improvements can make a tangible difference to the value of peoples homes, but a bad standard of work can drag the price down."

"Savvy buyers can often see through botched DIY jobs, meaning that sellers will either need to drop the price or employ an expert to re-do the task," he added.

Mr Gray’s comments follow research by the financial services firm which indicates that an increasing amount of homeowners are paying for others to carry out home improvement projects.

The study revealed that 65 and 63 per cent of consumers respectively will hire tradespeople to do electrical and plumbing work.

Last month, research by Yorkshire Bank revealed that taking out a competitively-priced home improvement loan to redecorate can increase the value of property for sellers.

Interfinancial providing you with breaking homeowner loan news.