Figures from Abbey show that around 18 per cent of homeowners have had to pay for damage caused by builders, with the average cost amounting to more than £200.
In addition, almost one in 20 homeowners have seen poor workmanship leave them with a repair bill worth over £1,000 and the problem costs Britons a total of around £3.9 billion over the course of a year, the latest research demonstrates.
Prasad Shastri, head of insurance marketing at Abbey, said: “The potential damage that could be caused by rogue tradesmen is staggering.
“Using workmen who are less that reputable may seem like the cheaper option in the first instance, but you may not have an enforceable contract or any comebacks if the job goes wrong and that could end up costing a lot more in the long run.”
Many British homeowners could have their debt management burden increased in weeks to come as the latest rise in the cost of borrowing begins to impact household finances.