Brits rely on credit for kitchen sink breakdown

11/06/2008

New research has shown UK homeowners rely on borrowing money for basic domestic repairs such as those in the bathroom or kitchen.

The study from Alliance & Leicester Savings found 16 per cent of people do not have money put aside to deal with a household breakdown, such as faulty boilers, while 45 per cent could not afford to pay more than £500.

Five per cent of those borrowing to pay for repairs to the kitchen sink or boilers replied they would have to ask a friend or relative to lend them the money.

Just 30 per cent of respondents said they could afford a major expense of £1,000 or more, such as brand-new boilers, with 21 per cent reporting they would struggle to pay over £100 for a plumbing problem.

Hetal Parmar, manager for savings at Alliance & Leicester, commented: "The reality of being a homeowner means that at some point you will inevitably have to pay out for repairs such as broken boilers and faulty appliances."

Last month, National Home Improvement Council advised homeowners to seek help from professionals rather than carry out work themselves.