Martin Lewis' Money Saving Expert team has issued a warning to millions of homeowners.
The consumer champion has been providing valuable advice throughout the UK's cost of living crisis. Martin keeps people up to date with the latest advice in the Money Saving Expert newsletter.
People have relied on Martin's tips as the UK has been hit with soaring interest rates and skyrocketing energy bills. In the latest edition of the newsletter, the finance guru's team issued a bleak outlook for the coming months
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They said: "Spring looks set to be painful this year, with hikes to broadband, energy and water bills all on the cards." The Money Saving Expert also warned that council tax bills are set to increase in April.
They added: "To add to the strain, most local authorities in England plan to hike council tax bills by the maximum 5% allowed. That'll add almost £100 a year to the average band D property bill."
The finance team urged homeowners to check now if they are in the right council tax bracket as their bill could be slashed by thousands. They added: "Everyone should check now if they qualify for a discount or reduction."
Figures provided by Money Saving Expert found up to 400,000 homes in England and Scotland are in the wrong bracket. The team provided three steps how to check your council tax band, which we have listed below:
- Compare your band with nearby similar homes
- Estimate your home's value in 1991.
- If both checks show your band may be too high, challenge it. Beware though: there's a risk it could reveal that you (and neighbours) are in too low a band - meaning higher costs
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