Financial

Home maintenance warning for Victorian homes

(Handythoughts) - A study conducted by Lloyds TSB found that Victorian properties could be facing considerable maintenance issues over the next decade or so.

The report was based on a survey of 1,800 homeowners, suggested that Victorian homes faced an annual upkeep bill of £3,800, almost double the maintenance costs of modern properties, by comparison.

"The economic conditions over the last two years mean we've all had to tighten our belts and cut spending in general" David Stoddard of Lloyds TSB Insurance said. "but we should remember that proper upkeep of a home is vitally important in order to prevent greater problems occurring in the future."

The study found owners had a huge backlog of maintenance problems on older houses, including dry rot, rising damp and subsidence. Indeed, it found these Victorian homes were three times as likely to suffer dry rot and five times more likely to be hit by rising damp than modern properties.