Martin Lewis offers water meter warning to anyone living in flats which could save you over £1,000
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Money saving expert Martin Lewis is back with another tip for us, and this time it's all about your water meter.
The number can tick up every time you fill your kettle or wash your hands, but with the ongoing cost of living crisis, it can be painful to see your bill rise along with it.
After previously handing out some good advice to tackle rising energy costs, Lewis turned his attention to water during the latest episode of ITV’s The Martin Lewis Show Live.
The broadcaster pointed out that unlike with energy companies, there is 'no switching' and 'no competition' with domestic water supply, meaning you unfortunately don't have the option to change suppliers to save money.
However, that doesn't mean you're not over-spending.
Lewis explained that some properties, like flats, are deemed unsuitable to have water meters installed, meaning the devices aren't there to record precisely how much water you use.
"Many people who live in flats can’t get a water meter, it’s called ‘not practicable’ to have a water meter fitted," Lewis explained.
If this applies to you, then Lewis laid out how you can ask for an 'assessed charge'.
"That’s where they work out how much you would pay if you were on a water meter, even though you can’t have one, and you’re charged that rather than the water rates," Lewis said.
The money saving expert went on to explain that the lack of a water meter could also be costing you extra if you do not have 'more or the same number of people as bedrooms in your home'.
He said: “Two people, three bedrooms. Why would that be better on a water meter? Because water rates are based on the rateable value of your house, which is a proxy for the value of your house.
“You’ve got this big old house here so they’ll be charging you a lot, but there’s only two people here so they won’t be using that much. Water meters measure your water usage and your sewage, so that will probably be cheaper.
“This can be hundreds of pounds. Now if you have a voluntary change, you usually have two years that you can switch back to water rates if a water meter isn’t working for you."
After hearing Lewis' advice, one customer revealed she'd saved more than £1,000 by getting in touch with her water company.
"My provider called me back to say, I’m now due a rebate of £1,132.81! As a 76-year-old relying on her state pension, this is like winning the lottery," she said.
During his show, Lewis added that there may be extra help available to those who are on benefits, disabled or have related medical issues which mean you need to use a lot of water.
"Speak to your energy firm," Lewis said. "There’s often, but not always, help available to you.”
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Topics: Martin Lewis, Money