Martin Lewis has issued an “incredibly important” warning to anyone earning under £23,000 as they could get thousands of pounds in help with their water bills.
On his BBC Podcast, the Money Saving Expert founder revealed a staggering two million people are not claiming the reductions they’re eligible for.
Mr Lewis’s revelation on how to cut water bill prices and costs will come as a lifeline for many ahead of a planned hike to water bills in the coming days and weeks across the UK.
The financial guru pointed out that individuals need to be aware of two types of support available – the social water tariff and Watersure.
Individuals must either have an income below £23,000, be receiving certain benefits, or possibly have a medical condition to qualify.
The 52-year-old said: “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 offered by all firms and they can reduce what you pay by up to 90% by lowering or sometimes capping the cost of your bills or your water meter charges.”
He added: “It’s incredibly important if you are on a low income, and exactly what the criteria are depends, but let’s say less than £22-23,000 family income or you’re on Universal Credit, just get on to your water company’s website, see what it’s offering or call them and talk 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 really important. The first thing I will say is England and Wales only this it works differently in Scotland and Northern Ireland. The first question you ask yourself is ‘do you have more or the same number 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 right get onto the Consumer Council for Water’s calculator. Just as an example Ursula got in touch with me and said ‘I got a water meter fitted as there’s only two of us in a three bed house we now pay £16 a month instead of £60 a month.’ That’s £500 a year cheaper – nothing to be sniffed at.”
