Martin Lewis’s ‘important’ warning to employees on | U.Okay.Finance Information
Martin Lewis has issued an “incredibly important” warning to anybody incomes beneath £23,000 as they may get hundreds of kilos in help with their water payments.
On his BBC Podcast, the Cash Saving Professional founder revealed a staggering two million people are usually not claiming the reductions they’re eligible for.
Mr Lewis’s revelation on how to cut water invoice costs and prices will come as a lifeline for a lot of forward of a deliberate hike to water payments within the coming days and weeks throughout the UK.
The financial guru identified that people need to bear in mind of two varieties of help accessible – the social water tariff and Watersure.
People should both have an income under £23,000, be receiving sure advantages, or presumably have a medical situation to qualify.
The 52-year-old stated: “Now a couple more important updates about water bills. First of all, are you one of up to two million homes on low incomes or universal credit missing out on saving hundreds of pounds with a social tariff?
“These social tariffs are provided by all corporations and so they can cut back what you pay by up to 90% by decreasing or generally capping the associated fee of your payments or your water meter fees.”
He added: “It is extremely important if you’re on a low income, and precisely what the standards are relies upon, however for instance much less than £22-23,000 household income otherwise you’re on Common Credit score, simply get on to your water company’s web site, see what it is offering or call them and discuss to them about it.”
For those with three bedrooms, the financial whizz suggests considering the number of people living in the home versus the number of rooms. If the number of people is less than or equal to the number of bedrooms he recommends having a water meter rather than having a bill to make things “a lot cheaper”.
Mr Lewis said: “Water is de facto important. The very first thing I’ll say is England and Wales solely this it really works otherwise in Scotland and Northern Eire. The primary query you ask your self is ‘do you’ve got more or the identical quantity of bedrooms in your property than people’?
“Three bedrooms, two people, would count a yes. In that case you are likely to be better off on a water meter than having a bill. Because we talked about the bill is based on the value of your property. Very simply you’ve got a big house not many people living in it, it’s likely to be cheaper if they’re measuring your actual water usage. It’s going to make it a lot cheaper doing it that way.
“If that sounds proper get onto the Shopper Council for Water’s calculator. Simply as an instance Ursula received in contact with me and stated ‘I received a water meter fitted as there’s solely two of us in a three mattress home we now pay £16 a month as a substitute of £60 a month.’ That is £500 a yr cheaper – nothing to be sniffed at.”
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