Counting the cost of keeping home
The cost of home upkeep has risen this year, according to latest research.
Data from Sainsbury’s Bank suggests that the annual cost of homeownership is now £11,035, which is about 12 per cent higher than it was in 2004-05.
This is equivalent to the cost of homeownership rising by about £3.28 per day, according to the data.
Robert O’May, home insurance manager at Sainsbury’s Bank, commented: “It’s becoming more expensive to run a home, which makes it all the more important for homeowners to shop around to make sure they are getting the very best deals available.
“This is not only for their mortgages and utility supplies but also their home insurance.”
Homeowners concerned about the cost of funding the upkeep of their homes may wish to take a debt consolidation loan to reduce the monthly interest paid.
These can wrap up outstanding debts to numerous creditors into one affordable package, lessening the immediate financial impact on consumers.
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