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New Research Reveals Rogue Traders Cash in on Recession and Cost Britain £4 billion in Repair Costs

New research reveals that 6.2 million Brits have fallen foul of a rogue trader in the past five years, with poor quality plumbers being the worst culprit.
Finance - 8 August 2011   Download IconContent available for download:  
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New research reveals that 6.2 million Brits have fallen foul of a "cowboy" trader in the past five years. The research suggests that plumbers have caused distress to most, with 1.4m saying they have been affected by poor quality plumbing work since 2006.

Those that have employed a "cowboy" trader in the last five years paid an average of £2,077 for the work they carried out, meaning that Great Britain has had to pay nearly £3.7billion to rectify botched jobs during this time. On top of this, over 150,000 people are estimated to have paid over £5000 to rectify a botched job.

Of those that used tradesmen in the past five years, only a third (36%) say they asked for a number of quotes and a mere 31% asked for a formal written quote for the work. Worryingly just 5% checked if they were accredited by TrustMark, the Government endorsed standards agency, despite this being an easy web-based check via TrustMark's online database. Men are more thorough in their checking with 15% saying they asked for references opposed to just 9% of women.

. Introduction:

New research has revealed that over 6 million Brits have fallen foul of rogue traders over the past five years and this could have cost Britain nearly £4 billion in repair costs. Tough financial times have meant that many people may have chosen a cheaper rate over a quality tradesman – yet this has left people footing a bill much higher than expected as they look to rectify any mistakes or shortcuts. There can also be a great deal of personal stress attached to these difficult situations including the clean up and often confrontation.

So what are the dangers of “cowboy” traders and why have so many Brits fallen victim to them over the past 5 years?

Joining us to discuss this further is Ben Tyte, Head of Sainsbury’s Home Insurance.

. Suggested Questions:

What does the research reveal about “cowboy” tradesmen in our area?

What are the financial risks involved with hiring a rogue tradesman?

Are there any other risks?

How can our listeners check if their tradesman is trustworthy?

What advice have you got for anyone who wants to avoid the problem of “cowboy” tradesmen?

Where can our listeners go to find out more information?