Taking out secured homeowner loans can help those consumers looking to boost the value of a property, one expert has claimed.

Used to finance home improvement projects, secured homeowner loans can be "an investment", Edward Simpson, head of public affairs at the Finance and Lending Association (FLA), has claimed.

He said that more people are using homeowner loans as a cheaper alternative to moving house.

"Because of the huge increase in house prices, people are tending towards investing in their own property - be that in touching it up or the building of extensions, because that’s a much cheaper option than going [into] the housing market," Mr Simpson commented.

Meanwhile, the FLA spokesperson claimed that all loans carry benefits and can help consumers to "manage the peaks and troughs" of spending and debt.

Halifax Home Insurance recently advised Britons to be wary of rogue traders and ensure home improvements are carried out by reputable tradesmen.

Interfinancial providing you with breaking secured homeowner loans news.