You are here: Home - Credit Cards & Loans - News -

UK’s funeral debt soars to almost £150m

Written by:
Rising funeral costs mean Brits collectively had to borrow almost £150m this year to give their loved ones a decent send off.

Analysis by insurer Royal London found funeral debt in the UK has gone up from £142m to £147m in the past 12 months with the average person borrowing £1,601 from friends and family or the bank to cover funeral costs.

According to Royal London, the average cost of a funeral in the UK is now £3,675.

But costs vary from region to region. A burial in Belfast, for example, costs £2,917 but £9,679 in Kensal Green in London, according to the Institute of Cemetery & Crematorium Management.

Cremation costs are significantly lower in comparison to burials, with Greenock in Scotland (£2,873) being the cheapest.


How to reduce costs

Nick Willcocks, co-ordinator at, said: “A growing number of people are struggling to meet funeral costs, but there are affordable options available across the UK, and with a little looking around it is possible to find firms that will meet your budget. We encourage individuals to speak to two or three firms directly, get a feel for them and then make a choice.”

“An increasing number of people are choosing to separate the cremation from the celebration of life and through direct cremation this invariably provides a more affordable but no less dignified alternative to a traditional, attended funeral.”

For more, see our How to cut the cost of a funeral guide

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get in the second lockdown?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
£10k in high street savings account will shrink to £9,800 in two years

A toxic environment of low interest rates and rising inflation means £10,000 saved in a typical high street savings account...