Amnesia adds to moving bills

People pay £224m a year in fines for missed payments and interest charges when moving house, new research showed yesterday.

Nearly a quarter of families forget to tell utility firms or their banks that they have moved, triggering penalties that add to the financial burden of changing address.

A survey by payments firm Direct Debit found people move house an average of six times in their lifetime. Two in five intend to change address even more frequently - despite 24% of people claiming that moving home was one of the most stressful situations in their lives.

Hiring removal vans and buying packaging materials cost an average £2,260 each time they moved house, creating a national bill of £48bn a year.

Michael Chambers of automated payment agency BACS Payment Schemes said the "forgotten finances" were needlessly adding to stress and causing costs to rise.

Among items found on moving in was a Robin Reliant in the sitting room, while a number claimed to have discovered money under the floorboards.

BRMB International questioned 1,031 adults between August 20 and 22.