Thursday, October 20, 2011
Category:
Secured Loans
According to MoneySupermarket.com, the cooler weather that we have experienced this week has prompted 54 percent of households to switch their heating on. However, it has been revealed that one in four households are refraining from turning their heating on due to increasing energy prices. In fact, it was found that 6 percent of households are unable to afford to heat their homes, whilst 17 percent will only do so if the weather turns very cold.
Following an online survey, which was completed by 13,700 MoneySupermaket.com users, it was uncovered that in the last week, 36 percent of energy customers have switched their heating on. Furthermore, 11 percent were found to have switched their heating on in the last fortnight, whilst 9 percent have had being utilising their heating systems since last month. Meanwhile, 17 percent are reportedly intending to switch their heating on in the near future.
Findings have shown that the latest energy price rises caused the cost of gas to increase by 17.4 percent on average, whilst the cost of electricity increased by 10.8 percent on average. As a result, annual standard bills reportedly stand at £1,287 on average.
Whilst the cost of living is ‘soaring’, MoneySupermarket.com has revealed that bill payers typically use approximately 40 percent of their annual energy consumption during the winter months. Nevertheless, consumers could reportedly save an average sum of £237 per annum by ensuring that they are on the best energy deal for their location and level of usage.
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Homeowners whose finances are currently so tight that they are refraining from switching their heating on could consider taking out a secured loan to relieve the pressure. One of many finance options available, a secured loan could be used to tie up any existing debts that are proving to be expensive each month. By consolidating debts, such as credit cards and store cards, borrowers could be left with lower outgoings and extra money each month. Interested homeowners could use a
secured loan calculator to work out their monthly secured loan repayments if desired. However, if opting for a secured loan to consolidate debt, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
