Kids at half-term cause homeowners £106 million

Posted 2007-11-3

Sainsbury’s Bank has asserted that the combined cost of repairing home damages caused over the half-term school holiday could reach £106 million.

Structural parts of homes such as walls, floors, carpets and windows, are the most likely to be damaged by off-school children (and their pets). The risks increase substantially during days of inclement weather when children and their friends spend more time inside the home.

Steve Johnson, head of home insurance stated, “If the weather is poor and they have to spend more time indoors, the chances of your home being damaged in some way by them or their friends increases.”

The cost of damage repairs could be met through a secured home loan, which would release equity from the property.

The Building Societies Association revealed that many households with young children neglect the potential financial return available from their properties; despite the additional funds which may be obtained through a secured home loan. 

However, keeping a home in good repair is a sound decision and protects the homeowner’s investment in the property over-all.

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