>>796562Cheap hammocks can and will "snap". Trust me. Ended up on my ass in a Grand Trunk Ultralight. They can definitely rip.
You're generally paying for the quality and style of fabric for a simple hammock. Even the nicest custom made hammocks shouldn't cost more than $60 (not sure about £).
If you make the hammock a double layer, or one that has an integrated bug net, the cost can double (or even triple).
You can also add extras to raise the cost, like different suspensions, ridgelines, top covers, ect.