How cost-of-living crisis affects three generations of one middle-income family

The cost-of-living crisis remains a daily reality for many, shaping lives both young and old, writes Claire Wilde.

The Bank of England’s decision to cut interest rates may relieve a little pressure on borrowers.

But high rates are still pushing up mortgages for millions of homeowners, adding to the squeeze many people still feel when paying more for everyday essentials.

Channel 4 News spoke to three generations of one middle-income family, all affected by the cost-of-living crisis in their own way.

Worried about themselves – and each other.

The mum: Amber

When Amber Seaver’s mortgage came up for renewal, she faced an agonising choice.

Her interest rate was set to jump from less than 2% to 7%. This would have meant an extra £400 a month, which the mother-of-two simply couldn’t afford.

So last year, she made the tough decision to sell the family home of 21 years, in Harrogate, North Yorkshire, and move to a cheaper place in nearby Knaresborough.

“It was really stressful because I really wanted to stay in that house,” she says.

“We’d kind of seen that as a house we’d always been in and we would always be in.”

At the top of her mind was the impact on her children, Jude Webster, 20, and Eliza Webster, 17.

“It was so difficult,” Eliza says. “I was saying goodbye to so many memories that I’d made as a child, as a teenager.”

But it isn’t just the mortgage. Energy bills, food and insurance all cost far more than they used to.

Jude and Eliza both say they worry about the toll of it all on their mum.

Jude says: “I think it’s affected her mentally, quite a lot. I don’t know if she knows that herself, but I’ve definitely noticed it. Just the stress of working all the time.”

The children: Jude and Eliza

Amber’s children both have to juggle studying with part-time jobs.

University student Jude, back home for the holidays, says his student loan barely covers the cost of his halls of residence. Living costs are high too – cleaning one load of laundry costs him £6.

For college student Eliza, it’s meant growing up fast. When she was 16 she decided to get a job to alleviate the pressure on her mum.

She says: “She was so stressed with money, I just thought, I need to get out there, I need to do something about it.”

And the idea of owning their own homes one day?

Jude says: “This probably isn’t something I’m going to see for quite a while. It hits you, it really does.

“Because I think having your own space to yourself is something that young people really dream of, but it’s a dream that’s becoming increasingly out of reach for them.”

“The future’s just kind of scary,” Eliza says.

The grandparents: Annie and Nigel

Amber’s parents, Annie and Nigel Seaver, live in Tunbridge Wells, in Kent, and are both 72. What should have been a comfortable retirement has been squeezed by rising prices.

“It’s not what we were hoping for,” says Nigel.

When he retired five years ago, Nigel had hoped they could live off about £1,200 a month, but they’ve seen their outgoings double. It means they’ve had to cut back on what they buy.

Annie says: “Sometimes I used to go out and just buy new stuff, I don’t buy anything new really.

“Just up the road here there’s the Sally Army and on a Thursday morning they have a huge sale.

“I go up there, line up, long queue, friends, get my clothes – nice clothes some of them – pots, pans, books. Lots of lovely books. Cup of tea.

“It sounds really sad, doesn’t it? But actually, I live off them.”

They’ve paid off their mortgage, so are not directly affected by high interest rates, but worry about the impact on their children and grandchildren.

Annie says: “It is a shame, because they work hard, the kids, and I hate to see them just not getting anything from it.”

“It’s a lack of hope, isn’t it,” Nigel adds.

“You have to have hope. Even if it’s a struggle, you have got to have hope.”

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