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Might Equity Release Help with Soaring Fuel and Food Costs
28/01/2011
It has been recently announced by one of the top 5 energy companies, E.ON, that prices on energy are increasing by an average of £62 per year to dual fuel bills for its 4.3million customers. This evidence supports energy experts claims that fuel prices will double every 5 years.
The rise in the cost of gas and electricity is further impacted households finances, who are already experiencing a fall in the cost of living due to rising food prices.
The British Retail Consortium have released figures that indicates that food prices are rising at double the rate of wages. In December, food price inflation was 4% compared to pay rises which were only 2%.
Petrol prices are also running around 20% higher than a year ago, while rail fares have increased, with the pain further compounded by the Government’s VAT increase to 20%.
The increases in the cost of living come as the country struggles to emerge from recession.
Homeowners aged over 55 years who are concerned about the cost of living and would like to know how much money the value of their property could release to help, can find out by contacting therightequityrelease.co.uk for equity release advice.
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