Below you will find news relating to mortgages. Get up to date information about the current mortgage market.
A generation of first-time buyers is in danger of risking quality and safety by cutting corners when it comes to home improvement. Research published today shows 218,000 (58%) of new UK homeowners admit to calling in friends and family to do work such as electrical, roofing or plumbing jobs on their home rather than calling trained professionals. This puts homeowners at risk of botched jobs, wasted cash and even injury – not to mention ruined friendships.
This is according to a report published by TrustMark, the Government-backed scheme to help protect householders from cowboy builders and rogue traders. The findings show that as a nation, many of us are guilty of looking for ‘mates rates’, rather than focusing on getting a quality job done in our home, with 44% of us admitting to calling on acquaintances rather than qualified plumbers, roofers or experienced handymen.
The problem of ‘mates rates’ is even more common among first time homeowners, with half (54%) admitting to cutting corners choosing a mate or family member, because they expect the work to be done cheaply, or even for free. One in ten (14%) even admit to asking their dad to do the work.
However, perhaps having learned the hard way, more experienced homeowners are less likely to cut corners and insist on getting a quality job done, with over half (56%) opting for professional tradespeople to carry out renovation work on their home.
According to Ian Livsey, TrustMark chairman, “It’s all very well asking family members to help you out with home improvement projects, but it’s worth bearing in mind, for example, that it’s unlikely you’ll be lucky enough to have a father who is a qualified electrician – whatever he may tell you! Homeowners need to remember that selecting a reputable tradesperson is the best way to get a quality job at a fair price.”
David Pope from Electrix UK, a TrustMark member firm said: “Homeowners may feel that by asking friends or family to work on their home they are getting good value for money. In the long run, they need to understand that by not using a qualified and accredited tradesperson they could be risking the quality of work – even the safety of their home.”
The research also reveals that UK women are more likely (57%) than their male counterparts (45%) to call on a close acquaintance to carry out work in or around their home, rather than employing a professional. Females are also more likely to ask a trusted relative (40%) to do the job.
Regionally, homeowners in the South-East of England are the most cash conscious when it comes to home improvement, with three quarters (75%) choosing a friend over a professional because they’ll offer a cheaper price. Londoners (63%) are most likely to opt for a qualified tradesperson, with people in the North-West of England most likely to ask their dad to carry out work on their home.
Householders looking for a reputable tradesman can log on to www.trustmark.org.uk. There they can get information on a range of TrustMark approved organisations that currently cover trades as diverse as general builders, electricians, heating engineers, plumbers, glaziers, damp-proof specialists, roofers, landscape gardeners and fence installers. Other trades are being added month by month as TrustMark grows
|
|
||
FM2 are 'whole of market' advisers with access to a mortgage database containing thousands of mortgage offers - updated daily with many high-street lenders including Halifax, Nationwide, Woolwich, Alliance & Leicester, Cheltenham & Gloucester, RBS, Abbey, Northern Rock, Coventry and Leeds Building Society. Their advisors are able to quickly find a product to suit your individual requirements.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.