Brits save money by furnishing homes with second hand bargains

With the Christmas spend hangover and VAT increases on the horizon, millions of homeowners are looking to embrace the age of austerity by furnishing their property with second-hand furniture, electronics, white goods and other household items, according to new findings.

Research conducted by Santander Mortgages has shown that more than one in four (28 per cent) home furnishings is now purchased second-hand, borrowed or handed down.

Only 58 per cent of homeowners now choose to buy their living room furniture brand new and one in four (23 per cent) opt for second-hand cutlery and crockery. Almost half of those surveyed (48 per cent) said they bought or received second-hand dining room furniture, while one in ten (12 per cent) say they acquired second-hand linen.

The East Midlands is the UK's hand-me-down capital, with 39 per cent of household items acquired in a used condition. In contrast, homeowners in Scotland and Northern Ireland buy the highest proportion (78 per cent) of new home furnishings.

Phil Cliff, Director of Santander Mortgages commented: "Furnishing a property with used items is an excellent way to save money as the premium for brand new household goods is often excessive - especially with VAT increasing to 20 per cent in January. Many buyers are so focused on saving for the deposit and fees that they don't have as much as they'd like left in the bank for furniture and furnishings.  The average homeowner now spends £3,800 kitting out their new property and this amount can go a long way if buyers take the time to choose carefully. At Santander we're always looking at ways to help homebuyers cut costs; from best-buy deals to covering some of those moving costs with our Homebuyer Solution range, we have products to suit all needs."