In his Markets Insight column Michael Howell warned of challenges for UK investors from “the great wall of debt” that will need refinancing in 2025/26 (October 17). It isn’t just investors who should worry. The prime collateral for all bank loans is property, or rather the land it sits on, because land is in fixed supply and cannot be consumed. Fred Harrison’s Boom Bust: House Prices, Banking and the Depression of 2010 (published in 2005) precisely predicted the peak of the last house price boom as end 2007. He predicts the next peak in 2026.

Carol Wilcox
Christchurch, Dorset, UK

SHOPPERS are rushing to snap up the £2.49 gadget at Wilko that could help dry clothes quicker.

It comes as the average UK family is forking out £1,834 a year on gas and electricity.

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And many of us are turning to heated airers to get clothes dry whilst it’s cold and wet outside.

The average Brit will do roughly four loads of laundry per week or 208 washes per year, a study by Ariel found.

For those who haven’t done the maths, it adds up to a shocking 13,000 loads of laundry across an entire lifetime.

But luckily Wilko has a £2.49 gadget that can help ease the costs of this unbearable load.

The Wool Dryer Balls, sold in a pack of two, offer an eco-friendly and reusable solution that claims to save up to £100 annually on dryer costs.

Made from 100% wool, these dryer balls help reduce drying time by increasing the airflow in your tumble dryer.

They work by separating clothes inside the drum, allowing heat to circulate more effectively.

This means your laundry dries faster, with less static, and comes out softer—all without the need for chemical fabric softeners.

According to Wilko, the balls not only help clothes dry quicker but also help soften fabrics and reduce wrinkles, making ironing easier.

The Wool Dryer Balls can be found in-store or purchased online, with free click-and-collect options or home delivery starting at £4.99.

Other dryer balls have been praised by buyers on Amazon.

A happy customer elsewhere told how similar products helped cut down drying time by 45 minutes.

Using dryer balls could be a way to reduce the amount of time and money spent on drying clothes, especially in the colder months when tumble dryers are in high demand.

A mum-of-three previously shared her huge savings after trying out tumble dryer balls.

She said: “Not only could I save £106.08 a year by using dryer balls, but my clothes came out feeling softer than usual and with less creases so they were easier to iron.”

This small, inexpensive purchase can help to bring down energy usage without requiring any drastic lifestyle changes or compromises in laundry routines.

MORE SAVING TIPS

Experts like Martyn James point out that tumble dryers, along with other “wet appliances” like washing machines and dishwashers, are some of the biggest energy users in the home.

He said: “The big offenders are ‘wet appliances’ including washing machines, tumble dryers and dishwashers,” he says.

“Try to only use them for full loads, learn more about what that ‘eco mode’ does as that could save you energy and drop the heat as low as you can go.

“These machines have to quickly generate heat, so can result in them adding a quarter of the cost of your energy bill.

“‘You should also regularly clean out the lint drawer, which can help your machine run more efficiently.

Other cost-saving tips include lowering the temperature when washing clothes, as consumer experts at Which? found that washing at 20°C instead of 40°C could reduce running costs by up to 62%.

Reducing the number of loads you do can cut your usage and bill, and making sure your doing a full load each time is one way to do this.

Another way is to get a bargain dehumidifier from B&M to dry clothes which can shave up to £74 off a crucial household bill.

A MAJOR energy supplier is reopening a grants scheme which can pay hard-up households up to £2,000 in free cash.

The British Gas Energy Support Fund will begin accepting new applications from Monday, 4th November, providing grants to customers facing difficulties paying their bills.

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Any British Gas or Scottish Gas energy customer who is struggling to pay their energy bill and has sought financial and energy advice is eligible to apply for support.

Successful applicants could receive a grant of up to £2,000 to help with outstanding debts – £500 more than what was available to households last winter.

To be considered for a grant, you must meet the following criteria:

• Reside in England, Scotland, or Wales
• Have not received a grant from the British Gas Energy Trust in the past 12 months
• Have either a credit or prepayment meter with an outstanding account debt

Proof of income will be required at the point of application.

This will be assessed alongside household outgoings to determine if you are in or at risk of fuel poverty.

Customers must also have to have been receiving help from a money advice or guidance agency within the last six months to be eligible.

This could include support from charities like Citizens Advice or StepChange.

To apply, you’ll need to visit britishgasenergytrust.org.uk/grants-available.

The fund that reopens on Monday is strictly for British Gas customers only.

WHAT IF I’M NOT WITH BRITISH GAS?

Another fund offered by the same firm can help support customers at other suppliers.

The British Gas Energy Trust’s Individual and Families Fund has been accepting applications from those struggling with energy debt since September.

The Individual and Families Fund was first set up in 2021 to help households struggling with energy debt.

However, unlike other energy supplier grants, this scheme’s support is available to British Gas and non-British Gas customers.

Energy customers could previously get up to £1,500 in help from the fund, but it has increased to £1,700 this winter to help an increasing number of households in debt.

However, not everyone will be eligible for a grant under the British Gas Energy Trust’s scheme.

There are certain criteria that you need to meet to be considered for the Individual and Families Fund, including:

• Pre-payment meter customers must have between £50 and £1,700 of energy debt
• Credit customers must have between £250 and £1,700 of energy debt
• You live in England, Scotland, or Wales
• You have not received a grant from the British Gas Energy Trust within the last 2 years
• You must be seeking a grant to clear an outstanding debt on a current or open gas, electricity or dual fuel energy account. The account must be in your name and relate to your main residence
• You have received help from a money advice agency within the last six months

Customers with energy debts worth more than £1,700 will not be eligible for support through the fund.

Although British Gas Energy Trust welcomes applications from customers of all energy suppliers, it is recommended that customers from the following companies first seek assistance through their own hardship schemes:

• Ovo Energy
• E.ON Next
• EDF Energy
• Scottish Power
• Octopus Energy
• Utilita

If you are rejected by your own energy company’s hardship fund, apply to the British Gas Energy Trust’s Individual and Families Fund by visiting www.britishgasenergytrust.org.uk/grants-available.

WHAT OTHER SUPPLIERS OFFER

Most energy suppliers have a discretionary grant scheme to help support their most vulnerable customers.

Grants vary by supplier and, of course, the exact amount you’ll get will depend on your own financial circumstances.

Here’s a full list of other energy suppliers offering grants.

EDF Energy

EDF’s Consumer Support Fund provides grants to support vulnerable customers struggling with energy debt.

Grants are given to help clear debt and to help fund the provision of essential white goods, such as fridges or cookers.

You can apply to the scheme at EDF’s Let’s Talk website by visiting www.forms.lets-talk.online/Login

But before you can apply for funding, you need to sought independent debt advice.

You will also need to provide your EDF account number, current debt balance and details of your household finances and vulnerability.

E.ON Next

Customers of E.ON Next can apply for cash grants to help with their energy costs.

E.ON doesn’t have established eligibility criteria, but the fund aims to help as many people as possible, and applications from individuals with the greatest needs will be prioritised. 

You must know your energy account number and provide a recent meter reading to complete your application.

As part of your application, you’ll also be asked to provide evidence of your circumstances, such as proof of household income or DWP benefit payments.

Find out more, including how to apply, by visiting www.eonnextenergyfund.com.

Octopus Energy

Octopus Energy offers a range of support, including cash from its Octopus Energy Assist Fund.

It could also include loaning a thermal imagery camera to find heat leaks in your home, which you can fix to reduce energy usage and your bill.

It also conducts home energy visits to discuss how households can reduce their usage and gives out free electric blankets.

Octopus is encouraging all customers to get in contact if they’re struggling with their bills.

Octo Assist fund is still open for applications, and customers have no deadline for applying.

Find out more by visiting www.octopus.energy/blog/octo-assist.

ScottishPower

ScottishPower has handed out more than £60m in support to customers experiencing difficulties in paying their energy bills, through its Hardship Fund.

You could qualify for help from the fund if you receive support from the following benefits:

• Income-related employment and support allowance
• Income-based Jobseeker’s allowance
• Income support
• Housing benefit
• Universal Credit
• Tax credits
• Pension credit savings credit

Help could also be available if you have a low household income or if special circumstances, such as illness, have impacted your earnings.

To apply you’ll first need to sought advice from debt charity Step Change by calling 0800 138 1111.

You’ll then need to apply for funding through Scottish Power‘s scheme by visiting www.support.sigmaconnected.com/scottish-power-hardship-fund

If your application is successful, the fund can wipe all or part of your energy debt.

Utilita

Citizens Advice Plymouth operates the scheme, which also provides Utility Warehouse customers with budgeting advice and benefits assessments.

The hardship fund allows for debt write-offs worth between £1,000 and £2,000, depending on individual circumstances.

To find out more and how to apply, visit www.help.uw.co.uk/article/billing_and_payments/Payment-help/uw-hardship-fund.

How to get free debt help

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There are several groups which can help you with your problem debts for free.

• Citizens Advice – 0800 144 8848 (England) / 0800 702 2020 (Wales)
• StepChange – 0800138 1111
• National Debtline – 0808 808 4000
• Debt Advice Foundation – 0800 043 4050

You can also find information about Debt Management Plans (DMP) and Individual Voluntary Agreements (IVA) by visiting MoneyHelper.org.uk or Gov.UK.

Speak to one of these organisations – don’t be tempted to use a claims management firm.

They say they can write off lots of your debt in return for a large upfront fee.

But there are other options where you don’t need to pay.

IS it too soon to put the heating on? That’s the question on millions of people’s lips as the winter months approach and temperatures start to drop.

But the combination of a higher energy price cap from October 1, and the loss of the Winter Fuel Payments for millions of pensioners means that more of us than ever will be struggling to heat our homes this winter.

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The new price cap is set at £1,717 per year for a typical household who use electricity and gas and pay by Direct Debit.

This is an increase of £149 from the cap that was in place between July and October.

Worse, the government has confirmed that the Winter Fuel Payment (worth between £200 and £300 depending on how old you are) will no longer be universal.

Pensioners can still get it if they receive Pension Credit, but Age UK has warned that 2.5million people aged over 66 who badly need the money to stay warm this winter will not receive it and will be in serious trouble as a result.  

Against that backdrop, many people are desperately looking for ways to delay putting their heating on, or to minimise how much they use it.

Aydin Sigva, an expert in energy saving and insulation at Cavitech.uk, says that there are lots of gadgets that can help people keep their energy bills under control.

However, he cautions that the first thing that households need to do is make sure they have the right insulation in place.

He warns this is important because homes are a bit like a sieve with lots of places valuable heat can escape.

The loft, walls, floors, door and window frames, even keyholes will see heat you’ve paid for flying out into the street.

He says: “Cavity and loft insulation save a few hundred pounds a year each – loft insulation is usually cheaper so should be the first job you do.

“If you’re a tenant, you’ll need the landlord to do it or get permission to do it yourself but its only worthwhile if you’re staying long-term as it’ll take a few years to get your money back in savings.”

This is backed up by the Energy Savings Trust, who calculate that cavity wall insulation can save around £155 a year from your bills, while solid wall insulation saves around £210 a year.

Loft insulation saves the average household up to £135 a year, and you can even insulate your floor saving up to £40 a year.

However, these things aren’t cheap to do, for instance, insulating the loft costs £950 on average, while cavity wall installation can set you back a whopping £1,700.

Of course, you’ll make your money back in the long run through cheaper bills, and good insulation also protects you from cold draughts which can have you reaching for the thermostat controls.

MONEY-SAVING GADGET

Sigva also has a list of simple quick fixes that Brits can do themselves to save a few pounds.

He says: “Put a brush and flap over the letterbox, draught excluders around leaky doors and windows and even block unused keyholes with some tissue and tape.”

However, he also recommends a nifty gadget which costs around £89 and can help you reduce your bills by between 5% and 15% according to the Energy Savings Trust.

He says: “Consider an energy use monitor – a clever gadget that attaches to the meter and displays on a screen exactly what you’re using at any moment. 

“Discover what devices use more power and use them less. Turn off items on ‘standby’ and remind the kids to turn off lights and consoles when not in use!

“There’s no magic answer, but a few simple steps can save a lot of wasted money.”

You can pick up a monitor for as little as £12 from B&Q.

What energy bill help is available?

There’s a number of different ways to get help paying your energy bills if you’re struggling to get by.

If you fall into debt, you can always approach your supplier to see if they can put you on a repayment plan before putting you on a prepayment meter.

This involves paying off what you owe in instalments over a set period.

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If your supplier offers you a repayment plan you don’t think you can afford, speak to them again to see if you can negotiate a better deal.

Several energy firms have grant schemes available to customers struggling to cover their bills.

But eligibility criteria vary depending on the supplier and the amount you can get depends on your financial circumstances.

For example, British Gas or Scottish Gas customers struggling to pay their energy bills can get grants worth up to £2,000.

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British Gas also offers help via its British Gas Energy Trust and Individuals Family Fund.

You don’t need to be a British Gas customer to apply for the second fund.

EDF, E.ON, Octopus Energy and Scottish Power all offer grants to struggling customers too.

Thousands of vulnerable households are missing out on extra help and protections by not signing up to the Priority Services Register (PSR).

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The service helps support vulnerable households, such as those who are elderly or ill, and some of the perks include being given advance warning of blackouts, free gas safety checks and extra support if you’re struggling.

Get in touch with your energy firm to see if you can apply.

These devices work by measuring the amount of energy your using on individual devices around the home.

They are placed between a socket and the plug of the device being measured.

A screen on the plug shows how much power the item is using, and they run on batteries so they don’t add more usage to your bill.

Each plug is different but it measures the energy use of the individual appliance you’ve plugged in.

With some you can enter the price you pay for energy and then the gadget works out the cost for you.

The cost per unit you pay depends on the tariff you’re on but you can usually find this information on your latest energy bill or online account.

For your chosen appliance, you can use the plug to check the cost of running it when it’s in use, or just on standby.

They are different to smart meters which can also help you track the cost of energy around the whole home.

Either device can you help you better understand what energy you’re using around the home, and then reduce it where you can saving money.

MORE WAYS TO SLASH HEATING BILLS

Sigva also recommends that households invest thermostatic radiator valves.

These are relatively cheap, but you will probably need a plumber to install them.

The valves can be set so that radiators only click on when the temperature drops to a chosen level, so you don’t waste money heating a house that’s already warm.

Rooms that you do not use very often such as a spare bedroom can be turned down very low, which will decrease your bills.

You can pick these handy gadgets up for just £9.99 each from Screwfix.

Another tip is a tube of mastic, which can be used to close up gaps around windows where the masonry has separated from the wood or plastic frame.

Sigva says: “Houses move a little in hot and cold weather, so gaps can open up allowing cold air and warm out.”

A tube of mastic costs just £6.69 from DIY.com.

He even says that ordinary silver foil can be put behind radiators to reflect a little more heat back into the room.

This radiator foil is just £7.51 for a roll from Screwfix.

Heat activated fans can be placed on wood burners and even certain types of gas fire to throw heat into the main part of the room. 

Also called stove fans, these can be picked up from the likes of B&Q for as little as £15.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories