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Last month, the Bank of England increased the base rate of interest from 4.5% to 5% – the highest it’s been since the Financial Crisis of 2008.

This directly impacts the amount of money that borrowers will pay for their mortgages and other products, as well as the amount that savers can earn on their savings.

More recently, it announced that it expects mortgage payments to rise by at least £500 a month for over a million households in the UK between the end of this year and 2026.

For many, it’s yet another monthly household cost that has seemingly risen drastically overnight, adding to the recent rises in energy bills, groceries, fuel and broadband for us all.

of renters now spending less on food and essentials
0 %

So what support is available to help with these rising costs?

We’ve provided a breakdown of the support that we know is available, with the qualifying criteria provided for each.

Cost Of Living Crisis - Support Available In England

1. Income Support

You may qualify for one of the Government’s ‘Income Support’ schemes below. These come in many forms and you can find out more for each one over at gov.uk/cost-of-living

These include:

Available for those who currently receive certain benefits or tax credits.

You may qualify to receive a regular payment if you’re on a low income, out of work or cannot work.

This is available if you care for someone for at least 35 hours a week who receives certain benefits.

You may qualify for ESA if you have a disability or health condition that affects how much you can work, or if you need support to get back into employment.

This is also available if you need some financial support when looking for work.

of UK adults now struggling to afford rent/mortgage repayments
0 %

2. Possible Tax Reductions

This is a handy way of transferring some of your personal tax allowance to your partner if you don’t pay Income Tax. This applies to both marriages and civil partnerships.

You can also check to see if you can claim tax relief on the things you need to buy to be able to do your job.

3. Other Tools & Support Available

This is a handy tool you can use to check to see if you’re getting the minimum wage when employed.

You could receive a Budgeting Advance if you need some money upfront to help you start a new job.

A handy bonus on your savings could be available – check to see if you qualify for a bonus on your savings.

Looking To Get Back Into Work?

If you’re currently unemployed, we can help you get back into work with a wide range of fully funded training courses.

All of our pre-employment training courses play an important role in preparing you for the world of work, and deliver key skills that are specific to the employer who will be interviewing you upon course completion.

Each of our courses run in various locations throughout the UK on a weekly basis, and include training in:

To find out more about our fully funded, pre-employment training courses, simply fill out one of our contact forms. One of our friendly advisors will then get in touch to discuss our courses in more detail with you.

Alternatively, you can call us on: 0161 474 7603, or email: [email protected]

*stats provided by the Office for National Statistics (July 2023)

Back2Work Complete Training provide Pre-Employment Training throughout the UK.

Pre-Employment Training works great as both a recruitment service for employers and an employment service for those who are unemployed.

Registered office in England and Wales, No:07559200
© 2019, Back2Work Complete Training, All Rights Reserved.

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0161 474 7603
[email protected]

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