Childcare costs up to £5,000 more each year than mortgage
In Dumfries today talking a new focus for LEADER the impact of rural childcare costs cropped up and then I read this…
Familes are spending more on childcare than on their mortgage, according to a new report.
The Family and Childcare Trust’s annual report found that parents with two children young children needing full-time care would pay £11,700 a year, 62pc higher than the average annual mortgage bill for a family home.
Those needing part-time care for two children are paying £7,549 a year for part-time childcare, around 4.7pc more than the average mortgage.
According to figures from the Office for National Statistics, the average UK annual mortgage cost is £7,207.
The report also revealed that some families are spending more on childcare than on their weekly shopping.