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Funeral Costs Soar: Families Turn to Loan Sharks
7 Jan
Summary
- Funeral costs rose 5.3% to £4,510 last year, the biggest increase since 2016.
- 12% of families experiencing financial difficulty turned to loan sharks.
- A young man is crowdfunding his brother's £10,000 funeral after sudden death.
The escalating cost of funerals is pushing bereaved families into desperate measures, with many turning to unregulated loan sharks or crowdfunding. Research indicates a 5.3% jump in average funeral expenses to £4,510 last year, the most significant increase since 2016. This financial pressure is compounded by rising cremation and burial fees, as well as increased living costs.
One poignant case involves Max Hughes, who is fundraising for his 20-year-old brother Karl-Frederick's funeral, aiming for £10,000 to cover the service, burial, and headstone. Karl-Frederick passed away suddenly last month. Max shared that their family lives month-to-month, highlighting the unaffordability of such expenses for average working individuals.
Experts note a significant increase in calls to funeral poverty services, with a 20% rise in inquiries in the past year. Simple attended funerals now average £3,828, while more comprehensive services, including memorials and flowers, can exceed £5,140, leaving many families in severe financial distress during their time of grief.
