£64m heating repairs debt for Brits
Article Category: Debt Management Help and Advice
Britons could find themselves facing a collective debt of £64 million to pay for repairs on heating systems, according to research from uSwitch.
The online comparison and switching service has revealed that while 43 per cent of people do not get their boiler serviced annually, one in five have never had a service carried out on the vital cog in the heating system wheel, leaving the boilers vulnerable to breakdown.
According to uSwitch, the cost of the ten most common heating system problems varies from £88.99 for a room thermostat, to in excess of £468 if there is a problem with the main heat exchanger, the replacement of which could leave those affected facing a bad debt situation.
Less than a third (28 per cent) have emergency cover in place to deal with such a situation, uSwitch claims.
“Household budgets are stretched so tight that it’s very tempting to try to make a quick saving by not bothering to cover things like your boiler,” said Ann Robinson, director of consumer policy at uSwitch.
However, she adds that such a “saving” can “end up costing [them] dear”.
Earlier this year, research from the Clydesdale Bank revealed that one in nine homeowners had to deal with their boiler blowing up in their first year in a new home.
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