LOOKING TO MAKE-OVER YOUR BATHROOM? R
L&C Mortgages – the UK’s fee-free mortgage adviser – revealed that 1.4 million UK households are struggling to pay their mortgage and 2.6 million people think their monthly payments are too high – but are they on the right deal?
More than half (58 per cent) have never remortgaged for a better deal, as highlighted in L&C’s ongoing campaign to get homeowners to save as much as they possibly can by shopping around. In an aim to combat worries about being able to cover monthly payments, 2.5 million admitted they have been forced to make significant cutbacks to reduce their spending in order to afford their mortgage payments.
The news comes as cash-strapped consumers are already having to cope with rising food and energy bills, and a hike in the cost of living generally. Many are ‘just about managing’ to live.
Another shocking find is that 4.2 million people said they cannot imagine a time when they will not be paying their mortgage.
L&C’s data shows that on top of worrying about the cost of their mortgage, the nation has an average debt of £10,048 across overdrafts, student loans and on credit cards. This number rises to an average of £12,992 when looking at those aged between 18 and 34, which could present a real problem for those trying to get a first foot on the property ladder.
And worryingly L&C also revealed that more than a third (36 per cent) of homeowners are still on a standard variable rate mortgage. Not only are these rates typically higher but if interest rates rise, those on them could see payments go up even more. This research also highlights that 1.1 million households are wasting £2.78 billion by sitting on the wrong mortgage deal.
David Hollingworth, from L&C Mortgages, said: “The fact that people have been making cuts in order to cover mortgage payments indicates how people feel they are ‘just about managing’ in many aspects of their lives.
“We know that British households last year ran down their savings to a record low and that the cost of basics, such as energy and the weekly shop, are continuing to rise – so it’s no wonder that people are feeling the pressure when it comes to their monthly mortgage payments.
“The problem is that although people feel they are struggling, they are not taking steps to manage their mortgage. Our research has found that millions are sitting on the wrong deal, even though seeking advice could potentially save consumers some hard-earned cash by getting a better deal – and even enable them to pay off their mortgage quicker.” If you’re happy with the layout of your bathroom, replacing the suite should be straightforward and relatively inexpensive, but if you want to change the layout, expect it to be more complicated and costly.
Unless you’re a very experienced and competent DIYer, get a good plumber to do the work. They should be able to offer advice about changing the layout and what is and isn’t possible or advisable – as should a good bathroom/interior designer.
A professional may think of things you haven’t, such as what you can and can’t do with the wastes, which could affect the layout and the products you choose. bathroom on graph paper. Draw the room’s features – such as the window, door, airing cupboard – on one piece of graph paper and the fittings you want on another, using the same scale. Then draw different layouts on different pieces of graph paper and lay them over the first plan to see how they work, or make life simple and do all this on a computer or tablet. Once you have a layout you’re happy with, it’s a good idea to make life-size templates of the fittings in cardboard to try in the room. Having an above-bath shower will restrict where you put the bath, for example, and you may come across other problems when placing your templates.
Better still, try the actual loo, basin, bath, etc, when the room’s empty to see how they work together and in the space you have. If returning them isn’t a problem, you could try Don’t forget to work out how much space is needed to comfortably use the loo and basin and to dry off after having a shower or bath. Pack in too much and you’ll find that your bathroom isn’t particularly easy, practical or pleasurable to use. It’s important to choose a suite that’s in proportion to the size of the room. Straight baths, for example, come in different widths and lengths, but if you’ve got a really small or awkward space, a tapered bath may be ideal. If there’s more space, a shower bath, which is roomier at the shower end, can be a good choice. Freestanding baths and separate shower cubicles need room to breathe, so squeezing them into a small space isn’t advisable. If your heart’s set on a freestanding bath, but you don’t have room, a freestanding-style shower bath is a good compromise. This looks like a freestanding bath, but the tap end and one side is flat so it sits flush against two walls, meaning you can have a shower above without water leaking down the sides.