Householders in the UK have been hit by rising prices almost across the board over the last 18 months, from food to energy bills and mortgage rates. However, there is help and support available for people who are struggling to balance their budget. There are also plenty of small steps you can take that soon add up to lower bills. Here are a few tips.
Some houses were placed in the incorrect council tax band when the system was first introduced back in 1993, and the mistake may never have been spotted. If you suspect that you may be overpaying, it is possible to challenge your bill, potentially saving up to £400 per year.
If your property is of comparable size and value to your neighbours, check on the Gov.uk website to find out if you are in the same band. You also need an estimation of what your property was worth when the original valuations were made in 1991, which you can do using online tools on portals such as Rightmove or Zoopla.
The Gov.uk website gives the information on what band your property should be in, depending on its value in 1991. If your current band doesn’t match up, then you can ask for a reassessment. You need to be very sure that you have a good case, or you could inadvertently push your or your neighbour’s property into a higher band.
It is easy to sign up for a direct debit or standing order for various services and memberships over the years, many of which we never use or have completely forgotten about. Common examples include TV streaming services, gyms, and premium internet shopping sites. Cutting back on just a few of these can soon add up to a decent monthly saving.
If you have been with the same car insurance provider for several years, chances are that you do not currently have the cheapest deal. Some companies do not reward your loyalty, but instead increase your premiums annually even if you have made no claims.
Therefore, it is always worth using comparison sites to shop around at least 30 days before your current contract is due to expire.
If you are satisfied with your broadband provider and don’t want the hassle of changing your email address, it is still possible to negotiate a cheaper deal. Use comparison sites to find out what rival companies are offering to see if they have lower prices.
If they do, note them down and then speak to your provider to say you are considering switching. They may offer to match the competitor’s price.
If your current fixed rate mortgage deal is coming to an end, you will almost certainly be facing a steep increase in your monthly repayments as average interest rates have risen from 2% to between 4-5% over the past year. Therefore it is advisable to seek the advice of an experienced mortgage broker to help you find the most competitive new deal.
If you want to speak to a mortgage broker for poor credit, please get in touch today.
Your home may be repossessed if you do not keep up with your mortgage repayments.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is £595.
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is £595.
The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
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