Builders Taking Deposits . Should they be Licenced

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    Builders Taking Deposits . Should they be Licenced

    In my area many houses have Concrete Render or Pebble Dash.
    There is such a shortage of builders that do this work that if you find one which will do it, they all want a substantial deposit (40%) for them to give you a date when they will do it.
    But there is no security, they can go bump taking with them thousands of pounds of deposits. They only need 10 people giving them £4000 each and they have £40,000 of other peoples money.
    Perhaps they should be made to have a Licence. I know in the early 1980's when I did Finance I had to get a Licence as a Deposit Taker.

    #2
    Perhaps they should or have the deposits held in escrow.

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      #3
      Landlords should be licensed or registered, free 24/7 details online

      Artful: Registered landlord.
      I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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        #4
        Most builders are terrible businessmen as well. Id be worried dumping that much money into their pockets.

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          #5
          Originally posted by SouthernDave View Post
          Most builders are terrible businessmen as well. Id be worried dumping that much money into their pockets.
          Yes, and prejudiced, and make ill-informed generalisations without substantive evidence.

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            #6
            I would offer to provide scaffolding, bulk materials,SBR etc meaning they have a labour-only contract .Better still try to do it yourself with a few mates-practice makes perfect.

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              #7
              Originally posted by gnvqsos View Post

              Yes, and prejudiced, and make ill-informed generalisations without substantive evidence.
              I can’t comment on them being like that.

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                #8
                Originally posted by SouthernDave View Post
                Most builders are terrible businessmen as well. Id be worried dumping that much money into their pockets.
                Hey guys, long time no speak, I've come for some advice and a general chitchat and saw this, and could not resist.

                Agreed on builder reliability, we have a 12 month wait for our services and keep our deposits in a separate account (what is left after purchasing custom material). We also have thousands of positive feedback online and run an honest family business. If you go cheap (as many many LL often try to do) or without a reputation, expect to pay the price of losing a deposit and being messed around. You can't take chances then grumble...

                Just for less balance, the most annoying of all customers - needy, over expectant, argumentative, and the worst/late payers are, drumroll please...LL I'm waiting for a barrage of complaints but it has been a 23 year experience serving London and a continual theme.

                We now just turn you away.

                Yes, I am an LL too And getting people to do the work we don't want is a NIGHTMARE - it's do it myself or wait months. It's not going to change anytime soon which incidentally links into the topic I am about to post on selling up.

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                  #9
                  Originally posted by SouthernDave View Post

                  I can’t comment on them being like that.
                  But you said most were poor businessmen.

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                    #10
                    Originally posted by gnvqsos View Post

                    But you said most were poor businessmen.
                    All the ones I know, definitely. My dad used to own a building firm, Pretty much all my mates became builders.
                    they invented the CIS scheme purely because builders can’t budget properly.

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