Unexpected building work costing £48.7bn

Four in five people have been hit with an unexpected expense over the last year, the majority connected with costs of building repairs, new research reveals.

Brits spent £48.7 billion on unexpected bills over the last 12 months, according to Abbey Savings.

Home repairs make up the biggest proportion of unexpected expenditure, with 36 per cent of Britons spending £1,206 each in the last 12 months

That's a total of 15.9 million people spending a combined £19.2 billion.

Over one in three people dipped into their savings to pay for an unforeseen expense with the save percentage using their credit card.

A further 13 per cent delved into their overdraft, while seven per cent borrowed money off a friend or relative and four per cent sold something they owned in order to pay for them.


© Adfero Ltd