Homeowners in ‘No Contract’ Flaw Risk Millions

Jan 2010

Homeowners in 'no contract' flaw risk millions

YOU'RE TAKING THE RISK!  When it comes to upgrading our homes it seems we're a nation that's prepared to risk millions in botch jobs, new research claims.

A whopping four in five of us don't get a contract for building jobs and home improvements even though we're spending thousands in the process. 

In fact, more than two thirds preferred to rely on a mere shake of the hand or a 'mate's' verbal agreement to seal the deal rather than a proper contract.

Roman Russocki, Chief Executive of Trustmark, said: "Having a proper contract is vital. Without it you're asking for trouble. With millions of pounds at stake people need to get smart and do their research first."

The research also revealed six per cent of people were dissatisfied with the work carried out; based on a national average, that equates to nearly one million unhappy homeowners  over the last five years.

The survey of 1,000 homeowners showed that the average building or home improvement spend for homeowners was £3,700.

We're also not very good at searching out the best deal, even in these troubled times. Only one in three of us get quotes from three or more tradesmen.

However, once bitten twice shy, after a botch job, more than 40 per cent of us demand a watertight contract in future.

Many believe the tradesman is still someone to be suspicious of with tradesmen voted as the fourth least trustworthy profession behind politicians, bankers and estate agents. More than a third of homeowners confessed tradesmen have offered to do a job for cash and another 145,000 admitting that they would rather move house than deal with another tradesman.

"The vast majority of tradesmen do a great job, but just remember that a bit of savvy prep can save you thousands in the long run," said Russocki.