Sunday 3rd December 2017
Why Introduce Leasing?
We recognise in times of increasing funeral debt the importance of offering plots at an affordable price, we also realise that a one size fits all approach doesn’t always work.
Institute of Crematorium and Cemetery Management (2016) states;
‘The average level of funeral debt among those that struggle has increased from £1,318 to £1,601 with Funeral Poverty standing at £147m.’
Over the years we have met with individuals who don’t have extended family, or don’t wish to memorialise their plots, in this instance a long-term lease isn’t a benefit to purchasing the plot, whereas the option to purchase a cheaper plot for a shorter term lease is.
In other cases families will pay for a twenty five year lease and will extend at a later date when they can afford to do so.
The impact of funeral poverty on the funeral industry is evidenced in the following article written in the Institute of Crematorium and Cemetery Management (2016)
‘Last year we suggested there were signs the funeral industry was responding to consumer demand with more affordable solutions. Our report records that 5% of consumers chose a direct cremation funeral and direct burials despite it not being a mainstream offering.
This data suggests there is a latent demand for a non-traditional affordable funeral.’ (ICCM 2016)
We have already seen an uptake in the new leasing options at Rainford which we feel demonstrates our pro-active approach to changing consumer needs.
If you would like more information please feel free to get in touch with a member of our friendly team on 01744 649189.