AV/PV/EVIDENCE/2026-03-04/v1.0
Terry McKane-Slaughter (AssocRICS) — Building Review, 12 November 2024. Each line item from the insurer's schedule is compared against RICS/SPONS market rates for Outer London (2024/25). Items marked with a flag are either assessed at £0 where RICS rates apply, or are significantly below the SPONS market rate for the required scope.
Terry's Total
£96,500
AXA internal review
RICS/SPONS Low
£196,740
Market rate — low estimate
Items at £0 (RICS range)
£62,200–£120,800
15 items excluded by Terry
Flagged items
25 of 55
Underpriced or wrongly excluded
The chart below shows Terry's figure against the RICS/SPONS market rate range for each trade section. The gap is consistent across every section — this is not a matter of professional judgment on one or two items.
Investigation
Remedial works
3 flagged itemsStrip-out (general)
1 flagged itemStrip-out (ground floor)
5 flagged itemsStrip-out (first floor)
1 flagged itemStrip-out (roof)
1 flagged itemStrip-out (M&E)
1 flagged itemRefurbishment (ground floor)
9 flagged itemsRefurbishment (first floor)
2 flagged itemsRefurbishment (roof)
Refurbishment (general)
1 flagged itemMechanical & Electrical
1 flagged itemElectrical rewire — most significant single underpricing
Terry allowed £2,500 for "damaged light fittings only." Two independent NICEIC EICRs both rated the installation as Unsatisfactory, requiring a full rewire. SPONS rate for a full rewire of a 220m² London property: £25,000–£45,000. Terry's figure is 6–10% of the minimum market rate for the required scope.
15 items assessed at £0 where RICS rates apply
Terry excluded items totalling £62,200–£120,800 at RICS rates. These include both ground floor bathrooms, all ground floor ceilings, all doors, roof trusses, timber rot assessment, and wall finishes — items the strip-out evidence confirms were damaged.
Drying programme — 2–3 days vs 3–6 weeks
Terry allowed £1,800 for an industrial drying programme. BDMA/SPONS guidance for 4 industrial dehumidifiers in a 220m² property is £3,500–£8,000 for a full programme (3–6 weeks). A major escape of water in a property of this size requires weeks of drying, not days.
Underpricing is systematic — not isolated
Of 55 line items, 25 are either assessed at £0 or significantly below the SPONS market rate. This pattern is consistent across every trade section — investigation, strip-out, refurbishment, and M&E. It is not a matter of professional judgment on one or two items.
Every line item from Terry's schedule, with the RICS/SPONS market rate range and a note on the basis for comparison. Items flagged in amber are either assessed at £0 where RICS rates apply, or are significantly below the market rate for the required scope.
| Section | Line Item | Terry's Position | Terry's Figure | RICS/SPONS Range | |
|---|---|---|---|---|---|
| Investigation | Form hole at ground floor to inspect basement area | Accepted | £350 | £350–£650 | |
| Investigation | Test suspected asbestos containing materials | Accepted | £150 | £150–£400 | |
| Remedial works | Industrial drying programme (4× dehumidifiers/fans) | Accepted — £1,800 | £1,800 | £3,500–£8,000 | |
| Remedial works | Assess timbers for wood rot / access to ground floor void | Not Required — £0 | £0 | £1,200–£2,500 | |
| Remedial works | Cut out and splice repair 10 lin m of wet rot timber | Not Required — £0 | £0 | £2,800–£4,500 | |
| Strip-out (general) | Strip out damp affected floor coverings, insulation, ceilings, fixtures | Partial — ceilings only (~50m²) | £1,500 | £8,000–£15,000 | |
| Strip-out (ground floor) | Strip out existing parquet flooring (hallway only — 15m²) | Accepted — hallway only | £1,000 | £900–£1,500 | |
| Strip-out (ground floor) | Strip out existing hardboard (hallway only) | Accepted — hallway only | £100 | £100–£300 | |
| Strip-out (ground floor) | Strip out existing floor tiles (kitchen) | Accepted | £650 | £500–£1,200 | |
| Strip-out (ground floor) | Strip out underfloor heating (kitchen) | Conditional on inspection | £650 | £800–£1,500 | |
| Strip-out (ground floor) | Strip out hardboard | Accepted | £1,400 | £1,200–£2,000 | |
| Strip-out (ground floor) | Remove existing carpet to staircase | Accepted | £750 | £400–£800 | |
| Strip-out (ground floor) | Remove damaged softwood flooring and fix new (kitchen only) | Accepted — kitchen only | £2,300 | £2,000–£4,500 | |
| Strip-out (ground floor) | Hack off wall finishes | Not Required — £0 | £0 | £3,500–£7,000 | |
| Strip-out (ground floor) | Strip wallpaper (3 layers) | Not Required — £0 | £0 | £1,500–£3,000 | |
| Strip-out (ground floor) | Remove lathe and plaster ceilings (ground floor) | Not Required — £0 | £0 | £4,000–£8,000 | |
| Strip-out (ground floor) | Remove existing single doors | Not Required — £0 | £0 | £800–£2,000 | |
| Strip-out (ground floor) | Remove defective kitchen worktops, cupboards and equipment | Accepted | £2,200 | £1,500–£3,000 | |
| Strip-out (ground floor) | Remove cloakroom bathroom | Not Required — £0 | £0 | £1,500–£3,000 | |
| Strip-out (ground floor) | Remove large bathroom (first floor) | Accepted | £2,000 | £1,500–£3,500 | |
| Strip-out (first floor) | Remove damaged softwood flooring and fix new (first floor) | Accepted | £2,500 | £3,500–£7,000 | |
| Strip-out (first floor) | Strip wallpaper (bathroom/bedroom only) | Accepted | £500 | £500–£1,200 | |
| Strip-out (first floor) | Remove lathe and plaster ceilings (bathroom/bedroom/hallway) | Accepted | £2,750 | £2,500–£5,000 | |
| Strip-out (first floor) | Remove skirtings | Accepted | £350 | £300–£700 | |
| Strip-out (first floor) | Remove existing single doors (3 only) | Accepted — 3 doors only | £250 | £240–£600 | |
| Strip-out (first floor) | Strip out existing family bathroom (first floor) | Accepted | £10,000 | £8,000–£15,000 | |
| Strip-out (roof) | Remove roof insulation | Accepted | £200 | £200–£500 | |
| Strip-out (roof) | Remove hardwood boarding | Accepted | £200 | £200–£600 | |
| Strip-out (roof) | Strip back roof coverings, remove/replace 3 roof trusses | Not Required — £0 | £0 | £8,000–£15,000 | |
| Strip-out (M&E) | Remove existing M&E installation | Not Required — £1,200 conditional | £1,200 | £3,500–£6,000 | |
| Refurbishment (ground floor) | Supply and install new hardboard (hallway only) | Accepted | £550 | £500–£1,200 | |
| Refurbishment (ground floor) | Supply and install underfloor heating | Conditional — £500 | £500 | £3,500–£7,000 | |
| Refurbishment (ground floor) | Supply and install new parquet flooring | Accepted | £8,000 | £12,000–£22,500 | |
| Refurbishment (ground floor) | Supply and install new tiled flooring | Accepted | £750 | £2,000–£5,000 | |
| Refurbishment (ground floor) | Supply and install new carpet to staircase | Accepted | £3,500 | £2,500–£5,000 | |
| Refurbishment (ground floor) | Supply and install new ceilings (ground floor) | Not Required — £0 | £0 | £6,000–£12,000 | |
| Refurbishment (ground floor) | Supply and install single new doors (ground floor) | Not Required — £0 | £0 | £4,000–£8,000 | |
| Refurbishment (ground floor) | Allowance for works to kitchen (worst case replace) | Accepted | £15,000 | £20,000–£40,000 | |
| Refurbishment (ground floor) | Allowance for new small bathroom (ground floor) | Not Required — £0 | £0 | £8,000–£15,000 | |
| Refurbishment (ground floor) | Allowance for larger bathroom (ground floor) | Not Required — £0 | £0 | £12,000–£22,000 | |
| Refurbishment (ground floor) | Allowance for remedial works under staircase | Not Required — £0 | £0 | £2,000–£5,000 | |
| Refurbishment (first floor) | Sand and seal existing flooring | Accepted | £5,850 | £4,000–£8,000 | |
| Refurbishment (first floor) | Supply and install new ceilings (first floor) | Not Required — £0 | £0 | £4,500–£9,000 | |
| Refurbishment (first floor) | Supply and install single new doors (first floor) | Not Required — £0 | £0 | £2,400–£4,800 | |
| Refurbishment (roof) | Mineral wool insulation to loft (270mm) | Accepted | £1,500 | £1,500–£3,000 | |
| Refurbishment (roof) | 18mm T&G chipboard loft flooring | Accepted | £1,500 | £1,200–£2,500 | |
| Refurbishment (general) | Fill plaster chases (bedroom/hall/bathroom only) | Accepted | £3,000 | £2,500–£5,000 | |
| Refurbishment (general) | Replace ornate coving (bedroom only) | Accepted | £1,500 | £1,500–£4,000 | |
| Refurbishment (general) | Mist coat primer (bathroom/bedroom/hallway/kitchen) | Accepted | £500 | £500–£1,500 | |
| Refurbishment (general) | Redecorate all affected areas | Accepted | £2,000 | £8,000–£18,000 | |
| Refurbishment (general) | Install skirting boards (hallway and kitchen only) | Accepted | £500 | £500–£2,000 | |
| Mechanical & Electrical | Full rewire and replace damaged light fittings | Partial — damaged fittings only | £2,500 | £25,000–£45,000 | |
| Mechanical & Electrical | Commission boiler by Gas Safe engineer | Accepted | £750 | £500–£1,000 | |
| Mechanical & Electrical | Replace boiler if damaged by water ingress | Conditional | £4,500 | £4,000–£8,000 | |
| Mechanical & Electrical | Replace/repair hot/cold water system | Conditional on inspection | £5,000 | £5,000–£12,000 | |
| Total | £96,500 | £196,740–£390,450 | |||
Note on RICS/SPONS rates: Market rates are sourced from SPONS Architects' and Builders' Price Book 2024 and BCIS data for Outer London. Rates are applied to the scope described in Terry's own schedule. Where Terry restricted scope (e.g. "hallway only"), the RICS range shown reflects that restricted scope. Where Terry assessed £0, the RICS range reflects the minimum scope required based on the evidence of damage.
Terry McKane-Slaughter's total of £96,500 is 51% below the RICS/SPONS low estimate of £196,740 for the same scope.
15 line items were assessed at £0 where RICS rates apply, representing £62,200–£120,800 of excluded work. These exclusions are not supported by the strip-out evidence.
The most significant single underpricing is the electrical rewire: Terry allowed £2,500 for damaged light fittings only, against a SPONS rate of £25,000–£45,000 for the full rewire confirmed as required by two independent NICEIC EICRs.
The underpricing is consistent across every trade section. It is not a matter of professional judgment on one or two items — it is a systematic pattern that applies to investigation, strip-out, refurbishment, and M&E alike.