A new report has revealed that around half of Britain’s 7 million homeowners admit that their properties are currently in need of repair, bringing a whole new meaning to the expression ‘Broken Britain’. The findings come from research by mortgages and secured loans broker OceanFinance.co.uk, which reveals a list of key repairs going unaddressed in properties throughout the nation.
The main offenders
Among the many issues highlighted in the report, those occurring the most frequently concerned the exterior of properties – a case of out of sight, out of mind perhaps? An incredible 32% of respondents admitted the fences around their home were either completely broken or in need of maintenance.
Meanwhile, almost a third of respondents to the survey said the walls of their houses required a fresh lick of paint. And just over a quarter had exterior windows in need of repair, whilst a similar number had problems with damp or mould - and these are just the most-reported of a long list of problems currently going unrepaired in British homes.
Faulty homes – why are so many people not fixing them?
The bleak reality for over half of the Ocean Finance survey’s respondents is that they simply don’t have enough money to fund repairs to their homes at the moment. With austerity biting, over half of those surveyed claimed they couldn’t afford the cost of property maintenance.
Over time, issues such as mould and structural damage only worsen, often compromising a property on a much more fundamental level after a period of years. The fact is that as many as 3.5 million British homeowners could be powerless to stop their properties falling into disrepair if they don’t take early preventative action.
However, 40% of those surveyed revealed they simply hadn’t had time or ‘got around’ to fixing their home. In light of the great plight of those who cannot afford repairs and could be slipping towards a larger problem with their properties, it’s hard to defend this kind of inaction. If you’ve got the cash, we would urge you to fix any issues with your home before they get worse - a stitch in time saves nine!
Ian Williams of Ocean Finance commented: "It's easy to let small repair jobs mount up, and before you know it you have several different jobs that are going to cost a lot to fix. For that reason, it's usually worth taking care of problems as and when they come up.
"Keeping on top of maintenance around the home is vital to protect the value of your property."