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Repairs leave homeowners in debt

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More than one in ten people attending to mounting household repairs over the last quarter were forced to borrow money to fix their home, research has shown.

Property repair group HomeServe said around 14% of people forced to deal with problems like lost roof tiles or a broken pipe either had no home insurance or failed to claim on it, instead putting themselves in the red to resolve their difficulties.

A total of 9% ran up debt on their credit cards to settle the bill, while the rest resorted to loans, overdrafts or borrowing the money from family and friends.

Of the 2,024 people surveyed, one in three said they had dipped into their savings to meet the cost. Home emergencies cost more than £400 for 10% of those questioned, while 5% were left with a bill of more than £1,000.

Jon Florsheim, chief executive of HomeServe Membership, said: "The extreme weather conditions of the last three months have wreaked havoc on British homes.

"But the effects of the recession have caused their own problems, with millions of homeowners facing bills they cannot afford."

© Press Association 2009