This Is Money Show

There has been plenty of doom and gloom in recent months – and today, we go searching for cheerier news. The energy price cap will fall from the weekend, plunging to £2,074 – below the £2,500 set Energy Price Guarantee from the Government. So, what should you be doing to prepare – and what does that mean for your usage? Will we soon see the return of fixed tariffs? This week Georgie Frost, Helen Crane and Lee Boyce discuss the new price cap, along with a sneaky move from a major energy supplier to stop quarterly billing. Mortgage rates are rising – that's not good news for homeowners coming up to remortgage. However, there is some good news… This is Money has a new Navigate the Mortgage Maze column written by L&C broker David Hollingworth. We reveal what the column is all about and details of the first one, which covers a question on many lips: how do I overpay and take advantage of a low fixed rate as much as possible? There has been a flurry of new saving deals, with the top rates now nudging pas

The Bank of England’s bumper 0.5 per cent rate hike this week was the 13th rise in a row. After sitting on their hands for more than a decade, ratesetters have been shaken out of their slumbers by an inflation storm. By historic standards 5 per cent is not high for interest rates, but unfortunately for borrowers we also started from a historic low and have gone from 0.1 per cent to here in just 18 months. The belated headlong rush into raising rates is also the exact opposite of what the Bank of England spent years assuring homeowners would happen: the party line used to be ‘gradual and limited’. The Bank is hiking rates to try to crush inflation but at the same time this affects a much smaller slice of homeowners than it once did and rapid rise in mortgage costs is crushing a generation of homeowners. So, was another rate rise a wise move?  How bad is the pain for borrowers?  Is this not a patch on the 80s, or just as bad?  Has the Bank of England even given its rate rises long enough to take effect?

The mortgage market is mayhem, with lenders pulling deals and rapidly hiking rates. Average fixed mortgage rates have soared over the past month and we are now at the stage where it looks a lot like the panic after the mini-Budget. At the same time savings rates are going gangbusters and there is barely a day that passes without a new best buy. Meanwhile, UK gilt yields have also leapt, sending the UK’s borrowing costs even higher. What on earth is going on? On this podcast, Georgie Frost, Helen Crane and Simon Lambert dive in and try to explain why the sudden inflation-driven chaos has kicked off and what borrowers and savers can do. What should you do if you need a mortgage? Is this a prime time to grab a savings deal or should you wait for better rates? How does it compare to the double-digit rates days of the 1980s?  What does this mean for the economy? Are we all doomed? Or will this pass? Listen to the podcast to find out their views and get tips on how to sort your mortgage and savings.

Universal basic income is a controversial idea and not just because it's money for nothing. Paying everyone a set amount every month as a baseline level of income has intrigued economists and central bank geeks for years. Supporters say it has the power to improve physical and mental health and the economy and society, but critics say it's the start of a slippery slope to state dependency and control. A new proposed trial for 30 people in the UK to get £1,600 a month has put the topic back on the agenda. So is universal basic income a good or bad idea? Georgie Frost, Lee Boyce and Simon Lambert discuss it on this podcast episode. Also on this week's show:  Why aren't our energy bills lower if wholesale prices have plummeted? What can you do if you are caught in the mortgage storm? And finally, which UK shares have done best and worst this year, so far?

Forget 5 per cent savings rates. Forget 7 per cent. A new regular savings deal has landed paying a headline-grabbing 9 per cent. But, is it actually a good deal? Saffron Building Society aren't the only savings provider pumping up rates, with fixed-rates now hitting 5.25 per cent. And cash Isas are back with a bang with a record amount poured into tax-free accounts in March and April. That comes as more savers look to shield their money from the taxman, with more potentially busting their Personal Savings Allowance this year. On this podcast, Georgie Frost, Lee Boyce and Helen Crane discuss all things savings and why people should be tracking down better rates. The debate moves on to housing, with one property price index suggesting an annual value fall of 3.4 per cent. So what's going on? Mortgage deals are being pulled left, right and centre and the amount borrowed in new mortgages dips a record low. Where is it all heading? Plus, Lee argues that tech giant Meta needs to listen to big banks and take

We had some good news this week about our energy bills - or did we? Ofgem's price cap is coming down - saving households around £400 a year on average. The last 18 months have been horrendous for households, so bad the Government had to step in in October and introduce a price freeze - but that was still double what the typical bill payer would have had to fork out a year previously. And although the cap is coming down, the removal of Government grants means most people will actually only be saving about £19 per month, or £225 per year. So what will we have to pay when the new cap starts in July, will bills keep going down, and when will energy companies start under-cutting the price cap with fixed tariffs again? On this podcast, Georgie Frost, Helen Crane and Simon Lambert discuss when energy bills might go back to 'normal', and whether we should jump on fixed deals when they return, or treat them with caution. We also got the latest UK inflation figures this week. Despite a not insignificant drop from

Almost five times as many people will soon be paying 40 per cent tax than in the early 1990s, when it was seen as a tax bracket reserved for the rich, the Institute for Fiscal Studies warned this week. It said that fiscal drag triggered by freezing the higher rate tax threshold would pull 7.8million people into its net by 2027. The study suggested that the threshold would have to be almost doubled from its current level, at £50,271, to almost £100,000 to return the tax band to the level intended for it. Alongside the report, came the IFS’s warning that 40 per cent tax had stopped being the preserve of high-earning professionals and was now hitting electricians, plumbers, teachers, nurses and more. The taxman nabbing 40p of every pound earned from a pay rise rather than 20p comes at a time when workers are running to stand still, with inflation at just above 10 per cent. So, is it time the government stopped taxing by stealth and using tools like fiscal drag – instead raising thresholds with inflation or

And there it was, another interest rate hike. Another quarter point move up seems almost commonplace now but cast your mind back to the era after the financial crisis and we had to wait nearly ten years for the base rate to climb above its 0.5 per cent 'emergency level'.  It cut got first and then base rate got all the way to the heady heights of 0.75 per cent, before it was cut again when Covid hit. Yet, less than 18 months since the Bank of England started raising rates in December 2021, base rate has rocketed from 0.1 per cent to 4.5 per cent. The rate itself is relatively low in historic terms, the magnitude of the rise is not. So, are the Bank's ratesetters right to keep voting for hikes, has the full pain been felt yet, and why would you do this when all the forecasts suggest inflation is soon to nosedive? On this podcast, Georgie Frost, Tanya Jefferies and Simon Lambert discuss the latest rate rise and how high interest rates will go. Plus, is the return of the 100 per cent mortgage absolute mad

A row over housebuilding has erupted again. Labour leader Keir Starmer has said he would bring back a 300,000 annual housebuilding target, after Rishi Sunak scrapped it.  Meanwhile, some backbench Tory MPs are reportedly unhappy about their party ditching that target in the first place – with the number having featured in the 2019 Conservative Party manifesto. At the same time Michael Gove has been cheered in many quarters for blocking a development in Kent, as it was deemed to be poor quality and ugly, but is now being taken to court by developer Berkeley Homes over the decision. So, what can we do about housebuilding and how do we get ourselves out of this mess – especially as the younger generation are squeezed out by high house prices and rents? On this podcast, Georgie Frost, Lee Boyce and Simon Lambert dig into the myriad problems with UK housebuilding and what can be done to build better homes that people want to buy and have near them. Is the answer just bringing back targets or is it more compl

Premium Bonds are a national institution and their prize-giving place in British savers' hearts was only cemented further through the low interest rate years. But now interest rates are on the rise and Premium Bonds offer not only the chance to win £1million but also a much better rate of return. The average prize fund rate on Premium Bonds has reached the heady heights of 3.3 per cent - going head-to-head with top easy access savings deals. But what many savers may not realise is that their chance of winning a big prize of £100,000 or £50,000 has got much better too. So, is it time to back Premium Bonds even further, or would you be better off with a standard savings account? On this week's podcast, Georgie Frost, Sam Barker and Simon Lambert look at the numbers and the pros and cons. Plus, an even better return of up to 4.6 per cent is offered now by five year fixed rate savings accounts, but are they worth going for and choosing over stocks and shares? This week brought yet more news of annoyingly hi

As if buying a home wasn’t enough of a lottery, borrowers are now facing a major gamble on their mortgage. Whether buying or remortgaging, they need to work out how long to fix for and try to assess what might happen next to interest rates. On the basis that even the world’s top economists and investors didn’t spot the past year’s sudden interest rate spike coming and can’t agree on what central banks will do next, that’s a tough task. Five-year fixed rates are cheaper than two-year fixed rates, but borrowers worry they risk locking in at higher rates for longer. Meanwhile, trackers are pricier but could fall if the base rate comes down, although there’s not much agreement on when the Bank of England will stop hiking or how swiftly it will lower rates when it eventually does. On this podcast, Georgie Frost, Helen Crane and Simon Lambert discuss the great mortgage gamble and what people can do. Also on the show, the house price hotspots of the past decade – and why living in a place where home values has

The state pension is getting a boost this week, meaning many pensioners will see their payments go above £200 per week or £10,000 per year for the first time.  The Government has also recently announced that it is delaying a decision on hiking up the state pension age to 68 until after the next election – perhaps influenced by protests across the channel.  Pension commentators said move would be 'incredibly unpopular', and likely 'political suicide'. Governments don’t like to upset retirees because they vote in high numbers – but maintaining the status quo is incredibly expensive. Has something ultimately got to give when it comes to the state pension age and maintaining the triple lock? On this week’s podcast, Georgie Frost is joined by Tanya Jefferies and Helen Crane to discuss. We also look at one lucky This is Money reader who is getting an even bigger rise, seeing his pension go up by more than 16 per cent. It sounds like great news – but he is wondering whether it means he has been short-changed in

Just when you thought the cost of living crisis was meant to be on its way out another round of bill hikes are hitting. From council tax to mobile bills, seemingly every organisation wants another piece of your bank account - and some of the rises are even higher than inflation. Is there anything you can do about it? Could a bit of switching, planning and another round of cutting back on energy usage, shave some money off? And is there light at the end of the tunnel? On this podcast, Georgie Frost, Helen Crane and Simon Lambert look at what's going up and how to fight it. Meanwhile, do you know how much tax you pay and are you in the firing line for Britain's worst tax traps? Ben Laidler, of eToro, delivers the latest update on the markets, after a much better week than the banking shakeout delivered last week. Plus if you haven't done it yet, what can you do to sort your Isa?

Just when you thought it was safe to go back in the water... A banking crisis has seemingly emerged out of nowhere, in a system that we've been told is stable, well capitalised and far from its parlous state when the credit crunch and financial crisis struck. So, what is going on and why did both the Federal Reserve in the US and the Bank of England see fit to raise interest rates this week? On this week's podcast Georgie Frost and Simon Lambert talk interest rates: whether we have hit the base rate peak, when they might fall, why central banks keep raising them and what the impact will be for savers, borrowers and investors. Plus, what's going on with the banks? Why the sudden wobble? What's it got to do with rising interest rates and government bonds? Is this just a shake-out taking out those that weren't very well run anyway, or something more dramatic? Also on the show, Simon explains why he thinks some people might need to sell some investments now. (But not for the reasons above.) And finally, are

Jeremy Hunt had a spring in his step this week as he delivered his Budget.  It was a considerably different air to the gloomy warning of trouble ahead in his November Autumn Statement. The headline act was a major shake-up of pension saving rules, removing restrictions that limit the amount that can go in without tax penalties. The lifetime allowance was abolished rather than raised, the annual allowance got a big bump, and rules to stop pension recycling were eased. Was this a bung for the rich shovelling cash into their pension - and doctors - or a move that will help many more young professional savers aspiring to a decent retirement, who may not realise the lifetime limit could be hit? On this week's podcast, Georgie Frost, Helen Crane and Simon Lambert delve into the Budget and joining them to explain the pensions element is a special guest, This is Money's retirement columnist and ex-pensions minister Steve Webb. Also in the Budget was news on the economy, a ray of hope on energy bills, and a big

You'd like to imagine that when it came to the state pension, you'd be dealing with a more robust system than the ones that deliver the average customer service nightmare. Savers could be forgive for questioning whether that was the case after a string of recent blunders. First we had the underpaid women's state pensions scandal, now we have the pension top-ups system creaking at the seams, at the same time as it turns out there may be a serious problem with the records of those who have received Universal Credit. The common thread running through exposing these problems has been This is Money's pension and investing editor Tanya Jefferies and retirement columnist Steve Webb. They have worked tirelessly to help those affected and bring these issues to light. This week, we had a state pension double header of news with an admission of the problems over Universal Credit and the Government finally extending the deadline for boosting state pension via top-ups. On this podcast episode, Tanya talks us through

There's not long left until the end of the tax year - and that means it is time to sort your Isa if you haven't already. This year's Isa allowance runs out as the tax year ticks over on 6 April and it pays to get everything you can into the tax-free shelter for savings and investments. But what are the important things you need to know, the tips for making the most of your Isa - and why does it matter more this year than it has done before. On this Isa saving and investing special podcast, Georgie Frost and Simon Lambert talk all things Isas - from finding the best saving rates, to how to invest and how to boost your chance of investment success if you already have a stocks and shares Isa.

Where there's a will, there's often a grumble... and potentially a full on dispute. The amount of money involved in inheritances derived from even modest homes these days can be life changing and when someone feels they have been unfairly cut out or not given their dues, arguments can ensue. There's been a sharp rise in inheritance disputes, but why are they occurring, what can you do to protect your legacy and would you argue if you thought you'd been treated unfairly? That's up for discussion on this week's podcast.  Plus, will energy switching make a return, how much has an energy saving drive actually saved Simon, why is the state pension top up system such a mess and have you got what it takes for financial independence and retiring early?