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If you are on the hunt for energy-saving products for your home, to help cut the cost of your utility bills, then we are here to help. In fact, we’ve been busy doing some all-important research to find affordable items that you can buy online, to save a trip to the shop and some petrol at the same time.
The cost of living is rising for all of us who live in the UK come April, and these must-have buys (all from Amazon for any Prime members out there) ought to help soften the blow of expensive bills for some of us.
We’re not talking about energy-saving lightbulbs, as we’re hoping that your house is already fitted with those throughout, and we’re not just going to suggest that you buy a heater instead of turning your radiators on because burst frozen pipes cost a hell of a lot to sort too. But instead, we’ve curated a roundup of nifty buys under £20, that will help lower your utility bills and save money over a period of a few months.
Every penny matters to the Ideal Home team, and we’ve got plenty more suggestions on how to save energy at home, in fact, once you’ve done your shopping below, it might be a smart idea to follow some of our tips and tricks. We’ve got advice on how to keep your home warm and much more, to get ahead of the game and cut your costs now.
Radflek Radiator Reflectors: £20.79 at Amazon
These radiator reflectors will help keep your house warm when your heating is on. How? Place them behind your radiator (don’t worry, they’re out of sight) to reflect heat back into your room, instead of onto an external wall and to waste. This way, you might find that you can turn the temperature of your heating down – or that you need not leave your heating on for so long. They’re easy to fit since these panels hang from wall brackets that you can stick to the wall behind your radiator. Plus, they are said to reduce heat loss by a whopping 45%.
Long Life Lamp Company Automatic LED Night Light: £8.99 at Amazon
If your children like to have a night light on, or perhaps you sleep better knowing your hallway is lit to lead their way to you? These plug-in night lights aren’t just compact but they’re rated A++ on the energy scale. They automatically turn on at dusk and off at dawn, and they come in a range of colours They’re completely safe to use around pets and even children, especially since they don’t give off any heat. A great alternative to leaving a full lamp or a light on, and they are especially great to use whilst you are out of the house, to give the illusion that you are inside, without the expense of leaving a light on.
Deconovo Blackout Curtains: now £16.94 at Amazon
Now less than £20, these blackout curtains are also thermal, so as to keep heat inside your room in the winter, and in the summer to ensure your room stays cool all night long. How? They are triple-layered with a special fabric, all you need to do is choose a colour and measure your window. They’re eyelet curtains making them super simple to hang within minutes, and they have almost 40,000 reviews on Amazon.
Magichome Store Ionic Shower Head: £12.87 at Amazon
Switch your current shower head out for this one and thank us later. Not only because it will increase your shower pressure and make your hair and skin feel softer, but because it works to reduce the amount of water you use as you shower. It’s easy to fit within minutes, without any tools required. Plus, its filtration shower head helps balance the pH of your water, and remove toxins, heavy metals, chlorine and more from reaching your hair and skin. The benefits of this showerhead are incredible, even if not for saving money as you shower.
KinTor Wool Dryer Balls: £10.97 at Amazon
If you’re not ready to give up using your tumble dryer, or perhaps you’re not a fan of how your washing feels when it dries naturally? Buy a bag of these wool dryer balls and you’ll never look back. They aim to cut drying time and reduce creases in your clothes, meaning you’ll have to use your iron less (yes!). They’re unscented although you can use them with essential oils to fragrance your clothes naturally, , and each ball will last for up to 1,000 uses. Meaning you won’t need to replace these for years to come. Use 3 – 4 balls for a medium or small load and 6 balls for a large load of wet washing, and we guarantee you’ll be impressed at how fast your washing goes from being damp to dry.
If you’re still wondering why is my energy bill so high once you’ve bought one or two of these and tried our tips and tricks, then we’ve identified 6 root causes as to why you might be paying such a large sum.
The post 5 energy-saving products that cost less than £20 – to reduce your utility bills in 2022 appeared first on Ideal Home.
The Bank of England is considering dropping the affordability test for mortgage lenders. The consultation by the Financial Policy Committee over whether to withdraw the mortgage affordability test began yesterday and will close on 6th May 2022.
Borrowers are currently subjected to two test recommendations that limit how much they are able to borrow when applying for a mortgage. These were introduced in 2014 by the Financial Policy Committee to help guard against an increase in household indebtedness that could make an economic downturn worse.
The first recommendation is the ‘flow limit’ which limits the number of mortgages that can be extended at loan to income ratios or greater than 4.5. The ‘affordability test’ is the second test that specifies a stress interest rate for lenders when working out a borrower’s ability to repay a mortgage.
Image credit: Future PLC
The Bank of England has launched a consultation to review ending the affordability test recommendation, whilst keeping the ‘flow limit’ in place. The consultation paper said that: ‘the FPC judged that the LTI flow limit, without the affordability test Recommendation, but alongside the wider assessment of affordability required by the FCA’s Mortgage Conduct of Business (MCOB) framework, ought to deliver an appropriate level of resilience to the UK financial system, but in a simpler, more predictable and more proportionate way.’
The new measure would mean borrowers and first-time buyers are able to borrow more for a mortgage. However, Tayo Oguntonade a Qualified Mortgage advisor and Brickz with Tipz founder, points out that many first time buyers, who are currently renting, will already easily pass the affordability test when securing the best first-time buyer mortgages.
‘What the affordability test does, it looks at if you could still afford your monthly payments if interest rates were to increase by a drastic amount. And for most people that affordability test is relatively easily passed,’ Tayo says. ‘Especially as renters are paying more in rent right now than they would for the equivalent mortgage.’
Image credit: David Merewether
‘They’re looking to take away or make some changes to the affordability tests, but they’re leaving the loan to income ratios in. And I think the loan to income ratio is really the one that has the most impact on people buying a property right now.
‘The loan to income ratio is where most lenders will give you 4.5 times your income, effectively. So that is the maximum loan that they’ll give you and most people find that’s what stops them getting a big loan, rather than the affordability tests.’
In the event of a decision being made to withdraw the affordability test after the consultation process, The Bank of England said it expects the test to be formally withdrawn by the FPC within 12 months of the decision.
The post Bank of England considers ending mortgage affordability test – what this means for UK mortgages appeared first on Ideal Home.
