Homeowners are willing to pay thousands of pounds to help protect their property, new figures show.
In research carried out by Alliance & Leicester Personal Loans, the typical consumer is prepared to invest some 8,500 pounds into various security measures in an attempt to make their home safe. Overall, just over two-thirds (68 per cent) of respondents stated that they would think about purchasing a high-tech alarm system with motion sensors and a direct link to their local police station in order to feel safe. Meanwhile,£500 pound loan 20 per cent claim they are prepared to invest in door and window bars, while a third would like a security patrol to be put into place. Some 53 per cent of those surveyed have indicated a willingness to invest in motion sensor security lights.
And with the costs of getting such measures fitted out running into thousands of pounds, applying for a personal loan could well be an advisable way of meeting the expense. The financial services firm stated that purchasing CCTV and an alarm system can set consumers back by 2,000 pounds and 1,200 pounds respectively, with these figures not including installation costs.
Meanwhile, a third (33 per cent) of respondents state that they would like to live in a gated community. However, pointing to research carried out by estate agent Hamptons International, the financial services firm claimed that dong this “comes at a price” as it could add some 25 per cent on to the cost of owning a property. As a result, such a move was suggested as being “prohibitively expensive for many people” which in turn could well impact upon their ability to make repayments on mortgages, personal loans and other demands on spending.
Richard Al-Dabbagh, senior personal loans manager for Alliance & Leicester, commented: “It is only natural we should want to protect our homes. Clearly the best way to do so is to invest in equipment which will either deter or prevent would-be burglars from attempting to break in. Although the simplest ways can be the most effective, householders who want greater peace of mind are willing to consider further security enhancements to their homes. By spending around £8,500, the majority of homes could have a level of security that would deter many would-be burglars.”
He added that taking the time to invest in security measures can “present a very visible deterrent, even to the experienced and expert burglar”. Mr Al-Dabbagh asserted that as burglary is usually an “opportunist crime”, criminals often look to ransack properties where they are least likely to be detected and are presented with the fewest obstacles. And despite the variety of home security services and products available suggested described as “bewildering”, the industry expert suggested that applying for a low cost loan could be one way to meet the costs of having such services installed.
However, those considering making an application for a personal loan could be well advised to take the time to make sure that they are getting the deal which is right for them. Speaking earlier this month, Lisa Taylor, an analyst at Moneyfacts, pointed out that numerous loan lenders have hiked interest rates on their personal loans in recent weeks.
She added that those who have plumped for an uncompetitively-priced personal loan could find that they are paying twice as much in interest as is necessary. It was also suggested that choosing the most expensive borrowing option may result in borrowers paying back some 500 pounds in additional interest after taking out a 5,000 pounds loan over a three-year period.