FTB - No previous stats

Labsettings

Hello,

Sorry if this has been posted before but I found out last Thursday that my moving date is today and I'm panicking!!

I'm a first time buyer moving into a newbuild house and have been trying to use comparison sites for gas, electric and all the rest... but all sites ask for previous details which I don't have... simply switch gave me a quote £400 less than energy helpline.

I'm really confused and I don't know who to trust/which ones to go for.

Please can anyone help me to figure this out? The stats were based on 2 people living in a 3 bed house. Also, is direct debit actually better than other outlets? How much do you need to keep an eye on it?

Thank you in advance,

Amy

macman

Most (but not all) of the cheapest online tarrifs are fixed monthly DD only.
You'll need to supply meter readings and register for a supply with the existing provider(s) before you can commence the switching process, which take s4-6 weeks.
All the comp sites produce very similar results if you enter the data correctly, a £400 variation indicates that you have not. Use annual kWh consumption figures, not monthly DD figs, as the latter produce less accurate results, as they have to make assumptions about your actual consumption.
No-one knows your likely level of consumption, as it will depend on so many variables, but for a 3 b/r house you could start with 20,500kWh of gas and 3,300 kwh of electricity. This will give you a starting point for comparison.
Use any of the recommended comp sites on the main MSE board.
This assumes a property with gas CH and hot water.

KimYeovil

I'm always confused by this question. What do FTBs use for heat and power before they step on the ladder? Are they hermits living in caves off the grid? Just what are the expected differences between renting and buying?

macman

Maybe living at home with parents and not paying the bills?

KimYeovil

macman wrote: »

Maybe living at home with parents and not paying the bills?

I know* families in real life do not gather round for meetings with conch-cushions but they must have some interaction. And if you are in a position to become a buyer theseadays you surely can not be wholly clueless.

*Well, I hope they don't.

macman

I suspect the majority of home owners don't know their approx annual consumption, let alone their offspring.