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Brits underestimating care home fees by £17,000

The north-east has seen the biggest year-on-year increase in fees
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British adults are underestimating the annual cost of a care home stay by an average of £16,646, research shows. 

This is up from £12,000 last year, according to the survey from Which?.

The survey found 58% came up with a figure that falls well short of actual costs. 

One in 10 underestimated the cost by £837 a week, or roughly £43,500 a year.

Londoners could be in for the biggest shock, as they underestimated weekly costs by £649, which works out as £33,748 per year.

People in the East Midlands were the closest to reality, underestimating by £152 per week.

The research also shows the regions experiencing the largest year-on-year increase in care home fees are the north-east (11.3%), Yorkshire & Humberside (10.9%) and the north-west (10.4%).

However, the least affected areas – the east of England and the south-east – still saw sizeable jumps at 7.7% and 7.9%, respectively.