Annual Spring tension for lenders

According to Charcol, this is a very important time for brokers as well, as they could be saving clients significant sums of money.

Alison Cooley, spokeswoman for Charcol, said: "Spring is traditionally one of the most popular periods for individuals to fether their nest by making home improvements. With some borrowers finding it hard to find the right property to move to, an alternative is to sit tight and improve their existing lot.

"A mortgage is the cheapest form of long term borrowing and with interest rates so low, increasing the mortgage will often be the perfect solution for indiviudals looking for some extra money for general improvements, DIY or otherwise. The right home improvements can effectively pay for themselves by adding to the value of your property."