The VAT increase will undoubtedly tempt some homeowners to look for cheaper loft conversions in ‘one-man-band’ builders who will do a deal for cash. Cash either means that a builder does so little work that he is under the VAT threshold or he is unlawfully not declaring tax.

As with most things, you really do get what you pay for in the London loft conversion industry. Cash-deal builders are often non-specialists without professional project management, and no backup or redress if the worst does happen.

Cheaper cash deals may seem an attractive option at first but they can often prove to be more expensive in the long run if things go wrong during or after the build and the company goes out of business or disappears. Invest your money wisely with a specialist loft conversion company like Landmark Lofts and you’ll have the security of project management by a chartered building surveyor and a 10-year insurance backed guarantee (provided by HomePro Insurance and underwritten by Royal & Sun Alliance) as standard.

An insurance backed guarantee (IBG) means that, even if the loft conversion company goes out of business, your guarantee will still be upheld by the insurers. In many countries on the continent an IBG is mandatory for all builders and we believe that the government should introduce similar measures here so that homeowners are not left without redress if their builder goes out of business.

Homeowners should always check whether any company quoting for their loft conversion offers an IBG as standard. An IBG should not be confused with having employer’s liability or public liability insurance: many builders claim to be ‘fully insured’ but this is not the same as offering an IBG. Only the most reputable London loft conversion companies, such as Landmark Lofts, are able to obtain IBGs from their insurers.