Hitachi Capital Consumer Finance survey shows Scots are improving not moving

• White goods purchases in Scotland up 20%
• Home improvement purchases up 88%

Scottish homeowners are spending more money on making their house a home, rather than looking at ways to make a quick profit.

According to figures released by Hitachi Capital Consumer Finance, there has been a significant increase in those customers making home improvements and installing new white goods over the past 12 months, as people decide not to move during the credit crunch.

The figures revealed that homeowners North of the border spent 20% more in 2008 than 2007 on white goods, such as fridges and washing machines, compared with a rise of just 6% from those in the South East and 11% in the East Midlands.

But it is not just lifestyle improvements homeowners are making. The research also revealed that over 88 percent of customers had utilised retail finance to purchase a whole host of home improvement items with Scots buying conservatories, bathrooms and kitchens to add value to their homes.

Gerald Grimes Divisional Managing Director, Hitachi Capital Consumer Finance, said: “During the property boom people were releasing equity or taking out loans to make home improvements. However, in the current climate when funding is much tighter, it seems homeowners are using point of sale finance to make changes to their home.”

Hitachi Capital now has links with over 1,200 retailers across the UK and places great emphasis on the proactive and profitable support to help retailers increase sales in these difficult times.

For more information contact: Daniel Hobson Hitachi Capital (UK) PLC t: 0113 380 1030 m: 07917 264079 e: daniel.hobson@hitachicapital.co.uk