Thousands of elderly being forced to sell their homes

A leading charity for the elderly has recently stated that thousands of elderly homeowners in the UK are being forced to sell their homes each year in order to cope with the cost of going into a care home. Read more

Tags: council and care, elderly brits, elderly finance troubles, care home, Geriatrics, care, Local Government, Disability

Council tax expected to rise by 4%

Households in England and Wales are to face increasing strain as council tax bills are to go up by 4 per cent in the next financial year, according to the government.

Figures from the Department for Communities and Local Government (DCLG) revealed that the bill for an average household is expected to rise from £1,101 to £1,146.

Those in Band D will see the payment rise from £1,321 to £1,374 because of the increases, which the government says are the smallest there have been for 14 years.

Sir Simon Milton, the Local Government Association chairman, said that the increase would put council budgets under severe strain.

“Councils have been under a real financial squeeze during the annual struggle to keep bills down,” he said.

Sir Milton added: “The stark reality is that low council tax rises have come at a cost and many councils have had to make tough decisions on spending.”

Meanwhile, shadow local government secretary Eric Pickles said that cost of living since Labour has come into power has “gone through the roof”.

Tags: Communities and Local Government, bill, cent, association chairman, households, Local Government

Council tax rises by 91% in 10 years

Increasing council tax bills are putting the squeeze on mortgage holders throughout the UK.

According to research by Halifax, the average council tax bill has risen by 91 per cent in the past ten years.

This huge increase is clearly going to cause trouble for many homeowners, particularly first-time buyers who may be struggling to keep up with mortgage payments anyway.

Halifax points out that the average annual bill currently sits at £1,078, almost double the £564 that most people paid in 1997-98.

The largest percentage rise has been seen in Monmouthshire, where council tax has increased by 184 per cent in the last decade.

People living in Richmond-upon-Thames pay the most council tax in Britain, with a bill of £1,665.

Halifax points out that the 91 per cent average increase is well above percentage rises in other areas, with average earnings goring by 51 per cent and the Retail Price Index growing by 31 per cent in the same time period.

“Council tax bills have increased significantly faster than either average earnings or retail prices over the past ten years,” said Martin Ellis, chief economist at Halifax.

“Bills diverge across the country. Growth rates over the last decade differ by a wide margin between billing authorities too.”

People considering getting a mortgage are advised to ensure that they have calculated their finances properly before signing up to ensure that they will have enough cash to pay for things such as council tax and household bills on top of their mortgage payments.

Tags: Business Finance, increase, trouble, billing, top, Subprime crisis background information, Local Government, bill