Domestic leaks ‘costing Brits billions’

Faulty showers, taps and washing machines are causing a significant debt management headache and cost Brits a combined total of some £1.8 billion annually, according to a recent Halifax Home Insurance study.

“Older properties are vulnerable [to costly water leaks] as a result of corroding pipes, which face increasing strain as Britain endures ever more extreme fluctuations in temperature as a result of global warming,” Vicky Emmott, senior underwriter at Halifax Home Insurance, has warned.

The latest statistics in to the problem from Halifax demonstrates that since 2002 close to 17 million Brits have been affected financially by water damage, with the washing machine singled out as the most common cause.

Last week, the Conservatives suggested that the cost of living in the UK has been “soaring” as a result of chancellor Gordon Brown’s recent budgetary decisions.