9% of plumbers now offer payment plans – survey

According to a survey, 9% of UK plumbers now allow customers to pay for work in instalments, as a way of helping homeowners afford renovations throughout the cost-of-living crisis.

New research by IronmongeryDirect surveyed plumbers across the nation and also found that almost 57% have been asked about payment plans in recent months.

Across all trades, younger workers are leading the trend and are more than twice as likely to accept staggered payments as the older generations. The survey indicated that 33% of millennial tradespeople allow instalments compared to just 14% of over 55s.

Certain trades are also more likely than others to offer such schemes. More than two-thirds – 67% – of roofers allow their clients to pay on finance, ahead of 57% of bricklayers and 50% of locksmiths.

Payment plans offer advantages to both tradespeople and customers – 21% of workers think they’d help attract more business, but precautions need to be taken to ensure financial security.

Dominick Sandford, managing director at IronmongeryDirect, added: “The cost-of-living crisis means many Brits are more cautious about big money purchases, and that includes home improvements. As a result, tradespeople are having to adapt to maintain their workflow, and offering payment plans is one way of doing this.

“However, you should take extreme care if you decide to go down this route, as there is always the danger that you could miss out on the full amount, either due to awkward customers or simply through paperwork errors. That’s why we’ve partnered with Forbes Burton to create a thorough guide for those considering this option.”

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