The FMB survey found that 15% of homeowners in Northern Ireland had requested payment plans from builders, which is 67% higher than the UK average of 9%.

Additionally, 11% of Northern Ireland homeowners have had to take on a second job specifically to pay for building work, in comparison to the UK average of 9%.

The research also found 7% of homeowners in Northern Ireland have borrowed money or gone into debt to cover building costs, slightly lower than the UK average of 9%. And 37% have never hired a builder at all, which is the highest rate in the UK compared to 29% nationally.

•   The Finance Professional Show 2024: The Video
•   Builder licensing debated in parliament
•   Govt will 'massively undershoot' targets, warns former housing minister

Additionally, just under a quarter (20%) of Northern Ireland homeowners have lost money due to hiring unqualified or unlicensed builders, with the average loss being £493 over the past five years.

Gavin McGuire, hub director of Northern Ireland at the FMB, said homeowners in the country were facing “impossible choices” as a result of these financial pressures.

“The fact that we lead the UK in payment plan requests shows the acute financial pressure households here are under,” said Gavin, who was also concerned by how many homeowners weren’t hiring builders altogether.

"This suggests many homes across Northern Ireland have mounting maintenance issues that are being ignored, not because homeowners don't want to fix them, but because they simply can't afford to.

“We need to ensure that quality building work remains accessible and affordable, and that homeowners have confidence in the builders they hire.”