Over the course of their lifetime Britons will spend £54,400 moving home, new figures indicate.

According to research by Abbey, each time consumers switch property they will spend an average of £16,000, a figure which could help them meet deposit costs or make repayments on Secured Loans and other forms of borrowing.

Head of mortgages Nici Audhlam-Gardiner said: "With the average Briton expecting to spend over two years’ annual average salary just meeting the costs of professional fees and stamp duty of their three or four moves, homeowners clearly need all the help they can get."

Legal and stamp duty costs, hiring removal companies and carrying out renovations to make property more "saleable" were all reported to account for homeowners’ moving expenses.

Last week, Andy Gray, head of mortgages for Woolwich, suggested that taking a home improvement loan can help borrowers increase the value of their property.

Interfinancial providing you with breaking homeowner loan news.