It is a 4-bed detached house, so something like £240 a month is to be expected.
I assume your property is single occupancy, so you will be benefiting from a 25% discount.
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Well actually no, I have a spouse and I am not officially at retirement age.
Originally a 4 bed house 10 years ago in the same post code and in Band F was just under £1200/annum for rates. So working it out the cost now is £2350 which equates to an increase of 6.91% per annum compounded, which is somewhat higher than the quoted annual inflation rates over the past 10 years, which has on average been below 3%. So on that basis we should not be paying more than £1610/annum or £161/mnth. so I would like to know what additional service I am getting for an extra £740 a year? :steam: However the East Devon District council did sell up there very nice offices in Sidmouth for redevelopment into some swanky gated properties a few years ago, and last year moved into a very posh new building in Honiton that cost a fortune, and of course the senior execs are still on 6 figure salaries I believe.
Yes but you've got to pay for provision for the increasing number of very old people who are living longer due to medical science but many having a low quality of life. Also the gold plated pensions of public sector staff which cost a fortune in a low interest rate environment plus (again) increased live expectancy.
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Don’t talk to me about F***ing pensions, I over funded two for 20 years to provide for me and the better half when we reached 60, and guess what we were ripped off like millions of others by the greedy pensions and financial companies who found a loop hole in the pension trustee laws which effectively allowed them to raid the funds on virtually any excuse. Basically legalised robbery in my view. I could go on but won’t as I don’t want another heart attack.
My endowment policy was supposed to pay off the house, with some left over, after 25 years, What it actually bought was a secondhand motorbike :(
There's not much else you can do.
I got talked into an endowment mortgage by a very attractive young lady. Thankfully the sale fell through and I changed it to a repayment for the one I did buy.