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Soaring funeral costs risk leaving ‘legacy of debt’

By March 23, 2016September 11th, 2021No Comments

Price of a cremation rose by 10% last year

Many people are in grave danger of leaving a legacy of debt because they have not planned for soaring funeral costs, according to report from mutual financial services company OneFamily.

Between 2014 and 2015 the average price of a cremation in the UK rocketed by 10% from £3,239 to £3,572, while the price of a burial rose by 4%.

Although both were an improvement on last year’s statistics, when burials rose by 9% and cremations by 12%, the cost of putting loved ones to rest is still rapidly increasing.

The average cost of a burial in London is £8,250, which is £3,435 more than in Northern Ireland.

Fees for both administration and professional guidance are the most expensive components of burials, costing £2,050 on average.

The cost of a cremation has risen by 22% since 2012, taking the average UK cost from £2,896 to £3,572 in just three years. It is the administration and professional fees that make up the highest cost at £2,069 on average, while death and funeral notices on average cost only £93.