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Home / Lifestyle / Funeral Costs Soar: Families Turn to Loan Sharks

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.
Funeral Costs Soar: Families Turn to Loan Sharks

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.

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Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
The family is aiming for a £10,000 target to cover funeral, burial, and headstone costs, estimating at least £7,500 for the funeral alone.
Funeral costs have increased due to higher cremation and burial fees, pricier coffins, and the general rise in living expenses.
Some families are turning to crowdfunding or borrowing money from loan sharks to cover funeral expenses.

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