Money Box

It's been a turbulent week for the mortgage market - as lenders adjusted their rates amid fears of a rise in inflation and what that will mean for interest rates. Average mortgage rates for a 2 and 5 year fix tipped above 5% for the first time since the summer this week, and they've been climbing since. In just a few days time the Bank of England will make its next interest rate decision, but a cut which had been widely anticipated two weeks ago, is now incredibly unlikely. Around 1.8 million people are to come off a fixed mortgage this year, and have some difficult decisions to make - what should they do?Victims' charities have criticised a long awaited and much delayed fraud strategy published earlier this week by the government. Ministers have described it as a "major upgrade to Britain's defences" with £250mn pounds to be invested over the next three years. On Thursday a £100 cap on contactless card payments in the UK is being scrapped. The Financial Conduct Authority is giving banks the freedom to set their own limits, and in theory they could even remove the cap altogether. But it turns out many banks are not planning to change the limit at all, at least for now - why?This week the Bank of England announced that British wildlife will replace historical figures on the next series of Bank of England banknotes. We asked Wildlife TV Presenter & Campaigner Chris Packham to tell us his ideas - from lapwings to foxes.Presenter: Paul Lewis Reporters: Dan Whitworth and Bisi Adebayo Researcher: Jo Krasner Editor: Jess Quayle Senior News Editor: Sara Wadeson(First broadcast 12pm Sat 14th March 2026)

Just seven days has passed since the USA and Israel began their attacks on Iran. As the attacks become heavier and more destructive, the ripples of war are already spreading around the globe. There was an immediate jump in the price of oil and gas, now worsening, as processing plants and facilities are attacked and transport routes disrupted. Petrol prices at the pump have been creeping up too and are expected to rise further. Money Box listeners have been asking what it could mean for the price of gas, electricity, heating oil and filling up their car. A listener had more than £300,000 stolen from her in an investment scam. What can be done to catch the criminals who robbed her? And by the end of the month there should be an official free scheme to claim compensation for missold car finance. How will it work?Presenter: Paul Lewis Reporter: Dan Whitworth Researcher: Amber Mehmood Editor: Jess Quayle Senior News Editor: Sara Wadeson(First broadcast 12pm Saturday 7th March 2026)

The number of emergency hardship loans issued to former civil servants who are facing long delays for pension payments is "pitiful" according to a senior MP. Clive Betts, the deputy chair of Parliament's Public Accounts Committee, has told Money Box the loan system is "not adequate" after figures published for the first time earlier this week show fewer than 600 have been issued - compared to many thousands of people who are missing money. The Cabinet Office says an urgent recovery plan is underway and its immediate priority is to stabilise the service. Capita have previously apologised for the delays.Nearly one in five adults now use Buy Now, Pay Later - instead of paying the whole cost upfront with a debit or credit card you can spread the cost interest free over three or four monthly payments. At one time it was young people driving the rise. But some new research from the Personal Finance Research Centre at the University of Bristol (commissioned by the Aberdeen Group Charitable Trust) suggests Buy Now, Pay Later is now spreading to older people. The number using it in their forties and sixties has grown by a third, with the biggest rise in the last two years among people in their fifties with the number using it up by half.And, as a rare Pokémon card sells for 12 million pounds at auction - what's the appeal for collectors - and what should you think about when buying them?Presenter: Paul Lewis Reporter: Dan Whitworth Researcher: Jo Krasner and Niamh McDermott Editor: Jess Quayle Senior News Editor: Sara Wadeson(First broadcast Saturday 28th February 2026)

Claims management firms have been warned by regulators to treat their customers fairly over compensation claims for mis-sold car finance. The financial regulator is set to announce its own free-to-use scheme for the millions of people who could be due compensation because the car finance deals they signed up to were mis-sold. Private claims management firms, which have already taken on many claims, can take as much as 40% of any compensation eventually paid out. The warning from the regulator includes telling consumers to guard against large charges to pull out of their claim, so-called exit fees, if they wish to switch to the free scheme.And, if you've been shopping online recently you may have been asked to eschew your usual credit-card payment in favour of a new way to hand over your money: pay by bank. By cutting out the credit or debit card middlemen, you'll be saving the retailer some cost from payment fees. But what's in it for the online shopper - apart from having to put up with weaker consumer protection? Also, the savings and investment divide between those who are, and aren't, using the tax-free benefits of a junior ISA and the new figures which show how online scammers are targeting those who are trying to improve their personal finances.Photo credit: Tim Goode/PA Wire

How hard is it for young people to find a job and once they do how can they make it pay? Some 16.1% of people aged 16 to 24 are not able to find work according to the latest government figures, the highest level for 10 years. Without a job, being able buying a home, paying into a pension or just pay the bills can seem impossible.So what's the best way to go? Graduate job, apprenticeship or working your way up from an entry level job and what support is there for those struggling whilst on the hunt?The Department for Work and Pensions told Money Box Live, "We’re determined to tackle youth unemployment, which is why we’re investing £1.5 billion through our Youth Guarantee in work experience, apprenticeships and subsidised jobs."Joining Paul Lewis today is Barry Fletcher, Chief Executive of the Youth Futures Foundation, a charity focused on reducing youth unemployment. And Lizzie Crowley a skills advisor at the Chartered Institute of Personnel Development.Presenter: Paul Lewis Producers: James Graham and Sarah Rogers Editor: Robert Cave Senior Editor: Justin Bones(This episode was first broadcast on Wednesday the 18th of February 2026)Picture credit BAE Systems

The Chief Executive of Capita Public Services has apologised for the serious delays thousands of civil servants are facing simply to get paid their pensions. Richard Holroyd was speaking to MPs on the Public Accounts Committee on Thursday when he admitted his service was "overwhelmed" when it took over the running of the civil service pension scheme in December. We'll get reaction from people affected and hear from Sir Geoffrey Clifton-Brown, the Conservative Chair of the Public Accounts Committee.Love might be in the air for some today - but with the roses and candlelight, comes a warning about criminals working in the shadows to trick people into giving away their money. Romance scams are types of fraud when a scammer pretends to be in a relationship with someone to gain money or personal information from them. They often start online or on social media. More than twenty million pounds was lost to romance scams in the first half of last year, up more than a third compared to 2024. We'll hear from one listener who says he lost £30,000 to a romance scam.How will a planned replacement to the Lifetime ISA work and what will it mean for people who’ve already got one? And what to do if you think you might be eligible for the Warm Homes Discount this winter but haven't had the payment yet.Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Jo Krasner and Niamh McDermott Editor: Jess Quayle Senior News Editor: Sara Wadeson(First broadcast 12pm Saturday 14th February 2026)

Mortgages are one of the most important financial products most of us ever come across, but they're also complicated. With more than 7,000 products on the market, how do you pick the right one for you?It can feel pretty overwhelming and hard to choose the best product at a time when rates are held at 3.75% but expected to fall, and relaxed lending rules mean some people can borrow 6.5 times their salary over longer terms. We'll answer listener questions about trackers, what term you should pick, and what to do if you're a first-time buyer.Paul Lewis is joined by Sally Mitchell, a mortgage advisor at Versed Financial, and Paul Broadhead from the Building Societies Association.Presenters: Paul Lewis and Felicity Hannah Producers: Sarah Rogers and James Graham Editor: Jess Quayle Senior News Editor: Sara Wadeson(First broadcast 3pm Wednesday 11th February 2026)

Debt charity StepChange says its research suggests around 2.5mn people who have debt on a credit card have paid more in interest, fees and charges over the past 18 months than they have repaid off the debt itself. Its survey of 6,000 adults, done by the polling organisation YouGov, found 1 in 20 adults had this persistent credit card debt. Its calling on the regulator, the Financial Conduct Authority, to improve the lending rules to stop debt building up and and ensure banks are intervening sooner to support customers in difficulty. The FCA says its rules mean that lenders should only provide credit to people who can afford to repay.The government has started a hardship fund because thousands of newly retired civil servants have been kept waiting months for their pensions to be paid. The Public and Commercial Services union, which represents many civil servants, has described the situation as "catastrophic" and is calling for urgent action to put things right. In a joint statement Capita and the Cabinet Office said they are "deeply sorry for the worry, frustration, and distress this has caused." Adding they both take this responsibility "very seriously and are urgently working together to put this right."New figures show that banks are refunding more of the money stolen from customer accounts, following new rules which force them to do so.And as the big lenders offer mortgages worth six times people’s salary, what does this mean for borrowers?Presenter: Paul Lewis Reporters: Dan Whitworth, Jo Krasner and Niamh McDermott Editor: Jess Quayle Senior News Editor: Sara Wadeson(First broadcast 12pm Saturday 7th February 2026)

Student loans and their impact on graduates’ finances have dominated the news recently. The average student debt in England for 2024 graduates was approximately £53,000, with repayments being made when salaries hit a certain threshold set by the government.But, the finer details on who gets what and how it's all repaid varies vastly depending on when and where students study. Rules also differ vastly across the UK. Recent campaigns have highlighted 'Plan 2' loans which focused on students in England who studied between September 2012 and July 2023 and the Chancellor's decision to freeze the salary threshold for repayments on these loans for three years, which means some graduates will now have to pay even more.In this episode we'll discuss the rules for current students, past graduates, as well as how maintenance loans are worked out and what support might be available.Joining Felicity Hannah is Tom Allingham from student money website, Save the Student and Graham Wright from the University of the West of England Bristol and National Association of Money Advisors.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle Senior Editor: Sara Wadeson(This episode was first broadcast on Wednesday the 4th of February 2026)

Billions of pounds is lost each year to fraud, be that by criminals simply stealing someone's money or by thieves tricking victims into giving them their details before draining their bank accounts. It's a crime that is massively under-reported, with very low conviction rates too. To tackle this, a new agency's been created called 'Report Fraud'. It replaces the problematic "Action Fraud" which had been the place for victims to report fraud for over a decade. Paul Lewis interviews Chief Superintendent Amanda Wolf who's the Head of Report Fraud.There are calls for a cut in the interest rate on some student loans. In recent weeks some graduates have been saying they feel they were missold their loans, because they're only paying off interest on what they owe, despite high levels of payments. The Department for Education says that its making what it called "tough but fair" decisions to protect taxpayers and students. We'll discuss that with the Higher Education Policy Institute.There is growing pressure from charities and MPs for the government to introduce statutory regulation of the bailiff sector in England and Wales as a matter of urgency. Campaigners say it's about making sure people who are in debt aren't on the receiving end of bad practice form bailiffs breaking the rules.And half a million households on heat networks now have new protections when it comes to their heating bills.Presenter: Paul Lewis Reporters: Bisi Adebayo and Dan Whitworth Researcher: Niamh McDermott Editor: Jess Quayle(First broadcast on Radio 4 12pm Saturday 31st January 2026)

The number of people working past retirement age is growing. New analysis of tax data found a 12% rise over the past five years. It was carried out by the specialist employment law firm, Littler, which says official estimates for the last financial year show 2.1 million workers and self-employed people are over state pension age. For some people carrying on working is a positive choice. They enjoy the routine, like the social side, and of course the money but for others it’s much more about necessity, when pensions alone not stretching far enough.But, how flexible are employers when it comes to older workers and what are the tax implications of collecting your state or private pension while still working? To talk it all through Felicity Hannah is joined by Zoe Alexander, Director of Policy at Pensions UK, Morgan Vine, Director of Policy at charity Independent Age and Julie Dennis, Head of Inclusive Workplace Strategy at ACAS.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle Senior Editor: Sara Wadeson(This episode was first broadcast on Wednesday the 28th of January 2026)

The chair of Parliament’s Energy Select Committee has told Money Box it’s “vital” the Energy Ombudsman is given new, stronger powers as quickly as possible. Bill Esterson says that it is too easy for energy suppliers to simply ignore ombudsman decisions leaving consumers powerless. Energy UK, which represents suppliers, says customers have the right to expect a good service and, in the vast majority of cases, suppliers are able to work with the Energy Ombudsman to resolve cases within 28 days.As people live longer healthier lives more and more are working longer - often well past the state pension of 66. A new analysis of HMRC data found a 12 percent rise in the number of people working past the state pension age over the past five years. What's driving that increase?Top tips for filing your self-assessment ahead of the deadline next week.And as the number of payments made by cheque drops, what does the future look like for their usage? Presenter: Paul Lewis Reporters: Dan Whitworth and Jo Krasner Researcher: Haider Saleem Editor: Jess Quayle Senior News Editor: Sara Wadeson(First broadcast 12pm Saturday 24th January 2026)

Buying a new car last year increasingly meant going electric. Around one in four new car buyers made that choice with almost half a million electric cars registered over the year, according to industry figures. That means there are more than 1.8 million fully electric cars driving around the UK, which is still only just over 5 per cent of cars on the road. But in the next few years, more motorists will start navigating the change because by 2030 the UK government is banning the sale of new petrol and diesel, with hybrids allowed until 2035. So how much do electric cars to buy and run, and how easy is it to travel long distances in them?Joining Felicity Hannah are Stuart Masson from the website The Car Expert and Melanie Shufflebotham from Zap Map, which is an app and website showing where public charging points are.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle Senior Editor: Sara Wadeson(This episode was first broadcast on Wednesday the 21st of January 2026)

When it comes to keeping our homes warm nearly all of us rely on just a handful of big energy suppliers. And during the winter, especially with the cold temperatures, we rely on those suppliers to do their job. When they don't customers can firstly complain to their supplier but, if they're still not happy, they can take their complaint to something called the Energy Ombudsman. It's a free, impartial service and gets thousands of complaints every year. In most cases, when the ombudsman makes a decision, that decision is followed to the letter, quickly, by suppliers. But in some cases that doesn't happen - we investigate one listener's battle over a £1,700 bill.HMRC has told MPs it's going to take more care in how it handles its effort to crack down on fraud and error, after a mistake which led to thousands of families wrongly losing their Child Benefit.It was the Scottish government's Budget this week and there were quite a few changes promised for people's pockets, we'll round up the details.And, there's a huge amount to think about when buying a home, from sorting the mortgage to getting quotes for removal companies, but one thing you might not be expecting is that your new home might come with rules telling you what you can and cannot do with it. Restrictive covenants are binding conditions written into the actual property deeds or contracts. What can you do to protect yourself from any financial impacts?Presenter: Felicity Hannah Reporters: Dan Whitworth, Eimear Devlin and Phil Simm Researcher: Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 17th January 2026)

There's a topic that often appears in the Money Box inbox, inheritance tax.It's money paid by the estate of someone once they die, as long as the total value of all their property, possessions, cash and soon pensions are worth more than a fixed threshold set by the government.At the moment Government figures say just 5% of estates actually pay the tax, so relatively low, but there are changes coming in this year and next which could increase that number.Questions around who pays it and how much it is as well as the rules around passing on wealth to loved ones are never far away from the top of our in tray. So, today we'll answer as many as we can.Joining presenter Felicity Hannah this week is Clare Moffat, pension and tax specialist at the mutual life, pensions and investment company Royal London and Nina Sperring, wealth protection solicitor and partner at the law firm Price, Slater, Gawne.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle Senior News Editor: Sara Wadeson(This episode was first broadcast at 3pm on Wednesday the 14th of January 2026)

More than 60% of parents who lost their child benefit because the tax office believed incorrectly they'd moved abroad, were in fact eligible for the benefit, which is worth at least a hundred pounds a month. As we've reported on this programme before, the mistakes were made after travel data was used to conclude parents had permanently left the UK, but actually many of them had simply been on holiday. The scale of the mistake has been shown in a written question raised in parliament, where the government revealed that 63% of payments were wrongly suspended. HMRC has apologised to customers who had their Child Benefit suspended incorrectly. It also told us that it estimates that £270 million of Child Benefit payments were incorrectly claimed in 2024-25 – with unreported residency changes a leading cause. Credit card borrowing rose at the fastest annual rate for almost two years in November. The new data from the Bank of England shows that outstanding credit card balances rose to nearly 78 billion pounds, which is up almost 12 per cent on November the year before. What might be behind that rise?And the pension ruling which could help boost your pension by 720 pounds every year.Presenter: Felicity Hannah Reporters: Dan Whitworth and Jo Krasner Researcher: Eimear Devlin Editor: Jess Quayle(First broadcast 12pm Saturday 10th January 2026)