Millions of homeowners in the UK have been issued a warning from Martin Lewis' Money Saving Expert Team. They are warning that the country is heading towards a 'painful time' and urge all households to check on this simple thing that could help save thousands.
The consumer expert has been guiding people in Britain through the cost of living crisis with expert tips and up to date advice in his Money Saving Expert newsletter. The Liverpool Echo reports that the finance team has issued a bleak outlook for the next few months- but they have also reminded homeowners of the importance of checking you council tax bracket.
Alongside skyrocketing energy bills and increasing interest rates that are set to rise even more, council tax bills are also going to see a hike. These hikes will not affect everyone, however, and now more than ever it is vital to check that you are in the correct bracket.
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The money guru's team said: "Spring looks set to be painful this year, with hikes to broadband, energy and water bills all on the cards. 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."
Homeowners are being urged to check they are being charged the right amount for council tax, as figures provided by Money Saving Expert found that 400,000 homes in England and Scotland are in the wrong bracket. You can slash thousands of pounds of your yearly bill, the team said: "Everyone should check now if they qualify for a discount or reduction."
You can check you council tax band by using these tips, provided by MSE, 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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