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At worst, faulty electrics can be a serious fire hazard and can lead to injury or electrocution. This is why electrics were brought in to the building regulations under Part P. Existing wiring installations are not covered, but if you make significant alterations or new additions to the wiring in your home, the regulations come into force.
If you are thinking of buying a property more than 25 years old, it is important to check that the wiring is up to date before you buy. Ideally, you will get an idea of what work is required and an estimate of the likely cost so that you can take this into account when assessing the feasibility of the project and how much to offer.
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