This is Money Podcast

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The Bank of England has reached the peak with interest rates in this cycle.That's the firm view of the markets and most analysts, despite three members of the nine-strong Monetary Policy Committee disagreeing and voting for a rate hike this week.The question has now shifted from how high will rates go, to when will they be cut?The boldest predictions are for more than 1 per cent to be shaved off the base rate next year.Does that fit with the Bank's 'hawkish hold' of the base rate this week? On this podcast, Georgie Frost, Lee Boyce and Simon Lambert look at what next for interest rates both here and in the US - and whether markets are running away with themselves.Plus, two years after they finally started to properly rise what does heading back to a point where rates may fall mean for borrowers, savers and investors?Also on this week's show, is it better to use the central heating or an electric heater, the 'better' plan for a state pension triple-lock replacement, and the reasons Lee wants you to get in touch.And make sure you listen to find out why the team want to know how long your kettle takes to boil... Hosted on Acast. See acast.com/privacy for more information.

It's been a rollercoaster year for mortgage rates and after the inflation panic spike over summer, lenders have been slashing costs for borrowers.The best mortgage rates are now falling towards 4 per cent, whereas not so many months ago they were rising towards 6 per cent - and many deals climbed above that.So is the mortgage crisis over and how much further will rates fall?On this podcast, Georgie Frost, Helen Crane and Simon Lambert discussa year of mortgage madness, what could happen next and - most importantly - what can those who need to remortgage or buy a home do.Plus, as gold hits a record high and bitcoin soars again, what's going on and should investors buy in?We discuss the case of the savers whose Isa savings of more than £600,000 went missing thanks to NatWest.And finally, This is Money lost a team member last week. Our development editor Richard Browning, a founding member of This is Money back in 1999, sadly died suddenly.The podcast plays tribute to Rich - the man who helped build the internet and a much-loved and very funny guy. Hosted on Acast. See acast.com/privacy for more information.

We love the idea of transforming our homes so much that an entire cottage TV industry has sprung out of it, ranging from Grand Designs, to Ugly House to Lovely House and Your Home Made Perfect. For Jaemi and Roly Glancy sketching out how they could renovate their properties turned into a start-up helping others envisage what they could do with theirs.In this bonus podcast episode, Simon Lambert of This is Money, speaks to Roly about how they started the business and where it's going. Hosted on Acast. See acast.com/privacy for more information.

What drives you mad about going to the supermarket?Is it self-service tills, scanning receipts to get out, loyalty scheme dual pricing, or prices being hiked well above inflation?Many of us want to support bricks and mortar retail, but there are times when shops seem to mainly be involved in testing our patience.In a week in which the competition watchdog fired a broadside at the consumer brands giants for pushing up prices, a practice dubbed ‘greedflation’ and sounded a warning to Tesco and Sainsbury’s over Clubcard and Nectar Prices, the This is Money podcast team head down the shops.Georgie Frost, Lee Boyce and Simon Lambert discuss what’s good, what’s bad and what really gets their goat.Plus, will a new online fraud charter make any difference?The team discuss investing legend Charlie Munger and financial crisis Chancellor Alistair Darling, who both died this week.And finally, what makes a house price hotspot – we look at the UK’s top 30 this year. Hosted on Acast. See acast.com/privacy for more information.

The Autumn Statement was the definition of a mixed bag.There was a National Insurance cut, but the stealth income tax raid continued.The Isa system got an improvement, but the allowance remained frozen.Meanwhile, the triple lock was delivered along with a pension pot-for-life plan but inheritance tax remains firmly uncut at 40 per cent, with all its weird quirks intact.So, was that an Autumn Statement to fire Britain on to growth, as the Chancellor claimed, or a damp squib?On this week’s podcast, Georgie Frost, Tanya Jefferies, Helen Crane and Simon Lambert dive into the details to reveal what the Autumn Statement means for you and the economy.From the Office of Budget Responsibility forecasts, to being allowed multiple Isas and the seemingly mad plan of allowing family homes to be easily converted to flats, the team take the measure of Jeremy Hunt’s plans.And they look ahead to whether there will be more tax cuts to come in the Budget – and whether Britain’s stealth tax and marginal tax trap mess will ever get sorted. Hosted on Acast. See acast.com/privacy for more information.

The Autumn Statement arrives next week and the rumour mill has gone into overdrive.The idea of it being a simple update on the economy seems to have been abandoned and instead there is talk of an Isa overhaul, tax changes, and even inheritance tax being cut from 40 per cent to 20 per cent.But if you were Chancellor for the day, what would you do?On this week's podcast, Georgie Frost, Lee Boyce and Simon Lambert look at what could be on the cards as Jeremy Hunt stands up and delivers his Autumn Statement next week.On the agenda:Stealth tax - will the income tax freeze end?Inheritance tax - will the rate be cut to 20%?Isas - will the allowance be boosted and the system improved?Savings - could the personal savings allowance get a rise? Hosted on Acast. See acast.com/privacy for more information.

We all know pensions are important but most of us rarely engage with them.Yet, with a little bit of time and effort, you can get your work pension working as hard as possible for you - and at some point in the future you will be very glad you did so.On this episode of the This is Money podcast, Georgie Frost, Lee Boyce and Simon Lambert talk pensions: why you should start early, the reason that it involves free money, how to invest for a richer retirement many years down the line and much more.Also on the agenda, what happens if you get stuck in a mortgage with your ex, why is Lee so annoyed at a sneaky insurance tax that swiftly adds up and can M&S's sales and share price resurgence continue?And finally, listen to the end if you want to find out where Lee buys his socks and Georgie gets her underwear. Hosted on Acast. See acast.com/privacy for more information.

Have interest rates peaked?After an inflation spike rudely awoke them from their slumbers, the Bank of England and the US Federal Reserve have shown us that rate hiking can be a difficult habit to break.But 14 consecutive rate rises into an astonishing run from 0.1 per cent to 5.25 per cent for the base rate, the Bank of England suddenly paused six weeks ago. And then, on Thursday, it did it again.On both of those occasions, the Fed had also just done the same thing across the Atlantic.So, are we finally there? When does a pause become a peak? And if we have reached the top of the interest rate cycle, what happens next?On this episode of This is Money podcast, Georgie Frost, Helen Crane and Simon Lambert look at the decision to hold rates again and what it means for savers, mortgage borrowers and investors.Plus, what are Andrew Bailey’s Bank of England and Jay Powell’s Fed telling us about their respective economies – and how divergent are the paths of the UK and US?Also on this episode, Crane on the Case digs into a how an entirely explainable and obvious error somehow led to a reader facing more than £8,000 of fines and Transport for London refusing to budge… until we stepped in.Plus, some previous high-flying investment trusts are going cheap, so is this the time to invest? Simon takes a look.And finally, what have the Premium Bonds and a pop quiz on number one hits in 2000 and 2008 got to do with each other?Listen to the end if you want to find out why you need to know that the UK number one in February 2008, was Duffy singing Mercy. Hosted on Acast. See acast.com/privacy for more information.

This week, This is Money's pensions expert Tanya Jefferies joins Simon Lambert and Georgie Frost. Among the topics being discussed:State pension top-ups are in dire need of an overhaul by DWP and HMRC, says TANYA JEFFERIESWhat does the bond market sell-off mean for your investments and pension?UK bond yields at 25 year high: Global borrowing costs rocket in debt market routPremium Bonds winning numbers - and latest news Our neighbour's CCTV is recording us: Can we make them take it down? Hosted on Acast. See acast.com/privacy for more information.

Wages are up, but inflation is… the same. What does it all mean for mortgage rates, the state pension, benefits and the economy generally? One thing we know won’t be affected by the latest figure is income tax bands. Just how much is the big freeze – AKA fiscal drag - going to cost us?That’s on the agenda for Simon Lambert, Lee Boyce and Georgie Frost this week as the latest CPI reading stuck at 6.7 per cent. At the start of the year, Prime Minister Rishi Sunak set the target to halve inflation by the end of 2023. And it was looking promising. But this latest inflation figures might have thrown a bit of spanner into the works.What’s going on at Royal Mail? Some households say they are only receiving their post once a week.Hospital appointment letters, birthday cards, parcels and important bills have all gone missing in delays caused by a staffing crisis.In Brighton, households say they’re receiving mail as infrequently as just once a fortnight.Picking an estate agent to sell your home is so important. A good agent will make finding your buyer seem like a breeze.Choose the wrong one and it can cause untold stress, drag the whole process out and you could end up being forced to reduce your asking price and ultimately sell for less.So how do you pick a good ‘un? And just what is gazundering – and why is it back with a vengeance? The new Tesla Model 3 arrives on our fair shores in January - but how much will it cost and is it any good?If it proves to be out of your budget range what about Citroen's new e-C3, set to start from around £17,000 And…range anxiety is real - so would you take an EV on a continental road trip?Paul Barker, motoring journalist of decades, gave it a go and diarised it for you... Hosted on Acast. See acast.com/privacy for more information.

House prices will continue to fall, says an influential poll of estate agents. The latest survey by the Royal Institution of Chartered Surveyors found that buyer demand is declining and fewer homes are coming to the market.Meanwhile, Halifax’s latest house price figures show a £14,000 drop compared to the recent peak in August 2022 and 4.7 per cent fall in the year to the end of September, the largest since 2009. So, how much further could they fall and are buyers in danger of trying to time the market? Will there be a big pause before a general election next year?Georgie Frost, Simon Lambert and Lee Boyce discuss the age old favourite of house prices.This week has also seen the Bank of England sound the alarm over 35 year mortgages – should we be concerned?Skipton Building Society launches a headline mortgage rate of 3.35 per cent. What’s the catch? It comes as its rival Nationwide has new best buy home loan rates. Could mortgage deals continue to fall?And we look at the top up-and-coming areas for first-time buyers: Does your area make the cut? Spoiler: it features Hull, Middlesbrough and Ipswich.DIY investors went on a gilt-buying spree in September - shunning the stock market and savings accounts. The UK government bonds were paying as little as 0.125 per cent last month – so why were they getting involved? Hargreaves Lansdown is launching a basic, no-frills pension for those who want an easy way to invest for retirement but aren’t quite sure how to get started.They are the first Sipp provider to give details after regulators said they had to offer customers a 'default' option by the start of December. Will it make Sipps sexy enough to the self-employed? Shrinkflation, bogus loyalty card savings and variable prices in supermarkets... we’re fed up with the lot of them. Are you? Hosted on Acast. See acast.com/privacy for more information.

Inflation is easing, food prices are coming down from their peak and the energy price cap dropped last weekend.But you are still paying around 10 per cent more for your groceries now than last year, petrol prices are rising, mortgage rates are still high, and you may end up paying more for your gas and electricity this winter too. But how is that possible?This week, Angharad Carrick, Georgie Frost, Lee Boyce and Helen Crane tackle energy bills and look at who might be paying more in the next three months.And when it comes to water bills, some firms are looking at charging 44 per cent more over the next seven years. Why?Crane on the Case this week tackles a parking charge issued after someone waited too long in a McDonald’s drive-thru queue.Despite that, Helen managed to get a positive result – but why are so many parking charges being dished out every day, and where is the promised government help to stop it happening.Lee gives you a run through of another busy week in the world of savings and banking.NS&I has pulled its best buy one year fix paying 6.2 per cent; NatWest has a secret top 5.2 per cent easy-access deal; Moneybox is offering the top cash Isa of 5 per cent; and Starling Bank is now offering to pay you for having a current account.It’s also been a hairy week for Metro Bank – but we explain why FSCS has you covered.And finally…the list of the UK's 'perfect' retirement locations has been revealed - and there are some surprising names on it, including the Outer Hebrides.Consumer group Which? has taken retirees' wish-lists for their later-life locations to work out its own grouping of the 12 top places to spend your golden years.But does it tally up to what you think is a perfect retirement location? Hosted on Acast. See acast.com/privacy for more information.

It’s been called the most hated tax in Britain - but only four per cent of people pay it.You could be forgiven for thinking inheritance tax is something only the super-rich need to worry about. But thanks to rising house prices and an increasing desire to transfer wealth between generations, more and more people are being drawn into the net.It happens not only when someone is left property or other assets from someone's estate, but also when they accept a gift from someone who passes away before the 'seven year rule' tax exemption kicks in. The IFS says that that four per cent could become 12 per cent within a decade.And many of those who will never pay inheritance tax still hate the idea that the Government is taking a big cut of the wealth people have worked hard to build up over their lifetime. So it might come as welcome news that Rishi Sunak is reported to be considering cutting the tax, or even scrapping it altogether, as a potential vote-winner ahead of the next election.What’s wrong with inheritance tax, how could it be made fairer - and could the Government really just get rid of it? Simon Lambert, Helen Crane and Georgie Frost discuss.That’s not the only plan the Government is said to be hatching for our finances.It’s also reported that Chancellor Jeremy Hunt wants to increase the £20,000 annual allowance for saving into an Isa - but only for those who use it to invest money into companies listed on the ailing London Stock Exchange.The team consider what puts people off stocks and shares Isas, whether the rules are too restrictive for the way we manage our money today, and whether encouraging people to pour money into a market which has had a bit of a tough time of late is a good idea.Plus, it’s a year since the disastrous mini-Budget which rocked the mortgage market. With a raft of reductions from big lenders this week, could rates on home loans finally be turning a corner now the base rate has been put on ice?And finally, we discuss whether the time might finally have come to commit to a fixed rate on your energy bills. Hosted on Acast. See acast.com/privacy for more information.

And suddenly they stopped. After 14 interest rate rises in a row, the Bank of England stalled and kept base rate on hold.A lower than expected inflation number and slew of economic reports indicating the heat was being taken out of the economy were credited with staying the Monetary Policy Committee's hand.So, will 5.25 per cent now be the peak for base rate or could rates once again start to head higher from here?And what does the Bank of England's decision to pause mean for savings rates and mortgage rates?On this week, Georgie Frost, Lee Boyce and Simon Lambert discuss why interest rates were held, what nudged inflation down, what could happen next and what all this means for savers, borrowers and investors.Plus, what does the government rowing back on Net Zero plans mean for electric cars, EPCs and how we heat our homes.And finally, if your neighbours can seen into your garden and you don't like it, can you just stick up a very tall fence or do you need planning permission (and risk triggering a neighbourly battle)? Hosted on Acast. See acast.com/privacy for more information.

This is Money's Simon Lambert gives his tips for young pension savers on how to give their retirement fund a big boost - and in some instances double the pot they end up with. Hosted on Acast. See acast.com/privacy for more information.

If the triple lock is stuck to, the state pension should rise by 8.5 per cent next April.That will be an inflation-busting rise but a promise is a promise - and the triple lock is meant to be a cast iron guarantee that the state pension will rise by either 2.5 per cent, average wages, or inflation.Except it's already been unpicked once and arguing about whether the government can wriggle out of it has become an annual event.It's expensive and paid for by current workers, but the triple lock has improved the state pension - and one day those workers should get that payout themselves.Yet, has it run its course and is it time for a better policy than the triple lock?On this podcast, Georgie Frost, Sam Barker and Simon Lambert debate the triple lock and whether to keep it.Plus, why is Facebook Marketplace such a wild west for consumers and what happened when we tried to set up our own (fake) scam?Santander's cracking 5.2 per cent easy access savings deal was pulled this week. The team discuss whether another account will come close in future and why those who signed up to This is Money's savings alerts didn't miss out.And finally, a reader has viewed 40 homes for sale but not found one they like. What should they do? Hosted on Acast. See acast.com/privacy for more information.

Every child could receive a pot of £1,000 at birth to be channelled into long-term investments in UK growth under proposals to give the young a leg up and revive a ‘stagnant’ economy.The idea of a ‘New Generation Trust’ is part of a package of reforms that could add £225billion to the economy, says a report by the City of London Corporation.A £1,000 payment to all newborn children would need to be invested - and it is claimed this could provide long-term capital for UK PLC. It revives memories of the Child Trust Fund scheme launched by Gordon Brown two decades ago, and later scrapped by George Osborne – and that hasn’t exactly been a roaring success.This week, Lee Boyce, Simon Lambert and Georgie Frost discuss the merits of the idea – and why whether this happens or not parents should start building a pot for children as early as possible.It’s been another exciting week for savings – Santander has a new best buy easy-access deal, Moneybox has launched a top cash Isa and First Direct is offering five prizes of £12,500 for those who switch current account – including a £175 bonus for doing so.Bank of England governor Andrew Bailey has been speaking in front of MPs at the Treasury Select Committee about base rate – are we close to the peak?House prices saw their biggest slump since 2009 according to Halifax, with the average home falls £14,000 in a year – chiming with similar data from Nationwide.And finally, electric cars are slumping in value – many models have lost 30 per cent or more in a year. Is now the time to buy, and what on earth is going on? Hosted on Acast. See acast.com/privacy for more information.

Inflation has been ravaging our finances, but it is also threatening our future. According to new research, if you want a comfortable retirement, you need to build a pot of nearly £600,000.The rising cost of living requires an extra £4,200 a year to maintain the same lifestyle as in spring last year - which means you have to save another £69,000 in all.This week, Tanya Jefferies, Georgie Frost, Lee Boyce and Helen Crane delve into pensions, as separate research shows more than half of people saving into one believe they will never put away enough to stop working when they get older.What can you do? Tanya reveals how to invest your pension and live off it in retirement.One thing that isn’t going to help your retirement funds is forking out to help your kids get on the property ladder.But that is exactly what is happening at the moment and in huge numbers.Financial aid is expected to support almost half of all homes purchased by buyers under the age of 55 this year - totaling £8.1billion. Is tapping into the Bank of Mum and Dad fair?People who spent big sums on state pension top-ups are angry their cash has gone missing and they can't get answers out of HMRC or the Department for Work and Pensions – Tanya gives an important update.Lee runs the rule over the new 6.2 per cent one-year fixed-rate from National Savings and Investments, alongside four savings trends gleaned from a new Bank of England report.Helen reveals the four pressures landlords are facing as more of them opt to sell up.And lastly, are you suffering from dogflation, catflation or any kind of petflation? And how can you bite back? Hosted on Acast. See acast.com/privacy for more information.

Many people may be feeling in a state of financial flux at the moment and wondering where to put their money.And it's not an easy choice. Savings rates have improved, gold is holding steady, but property prices are slipping and stocks are sticky.And that is just some of the myriad of options Britons are contemplating right now, alongside other areas such as overpaying the mortgage or saving for retirement.So, where would you put your money for the next five years? That’s the question the This is Money team put to the experts – and our readers – with a mixed response.Georgie Frost, Simon Lambert and Lee Boyce reveal what they told us, the results of a reader poll and how they’re grappling with these big financial decisions.Could unloved and cheap investment trusts be the answer? Simon runs the rule. Premium Bonds have been boosted again – Lee reveals why they are giving them a headache.And NS&I have boosted its green savings deal to 5.7 per cent. Is it a good deal now?Elsewhere, Ofgem has announced the new energy price cap for October 2023 will be £1,923. What does it mean for households – and why are many still facing higher bills this winter regardless?Loyal listeners may might remember a few years ago predictions from a chap called Fred Harrison - a housing market crash in 2026.The British author and economic commentator identified the 18-year property cycle and believes it can accurately predict the next house price crash.But have today's inflation and high mortgage rates thrown the cycle off track?And property prices have become less expensive relative to average earnings, according to new data – but there’s a sting in the tail: higher mortgage rates mean homes are now LESS affordable.Finally, would you pay £25million for a car? Hosted on Acast. See acast.com/privacy for more information.

The inflation spike took central banks, governments and many ordinary people by surprise but Britain’s cost of living problem has proved more stubborn that most.The latest set of official figures on consumer prices index inflation seem to show that the UK may be making some headway on getting it down.Aided by a substantial drop in the energy price cap, annual CPI inflation fell to 6.8 per cent in July – down from 7.9 per cent in June.Does that mean we have turned a corner on inflation and can look forward to Rishi Sunak delivering on his promise of halving it this year?Or were there once again some hidden nasties in the inflation report that could mean it takes longer to subside?On this week’s podcast, Georgie Frost, Helen Crane and Simon Lambert dig into the inflation data and look at why economists decide that real wage growth was something to worry about.The team look at what this could mean for interest rates and where they will peak – and what that in turn means for mortgaged homeowners and savers.Also this week, the triple lock is set to deliver another big state pension boost, is that fair?Plus, why did Nationwide freeze a reader’s bank account for their charitable work.And finally, would you try to fix your own furniture? Here’s how some mayonnaise and an iron could help revive your dining table and more. Hosted on Acast. See acast.com/privacy for more information.

After months of mortgage mayhem some better news finally arrived this week with major lenders delivering a slew of hefty rate cuts.Halifax, Nationwide, and NatWest have all delivered big chops to their home loans, with analysts saying that we may be past the moment of peak panic in the mortgage market.That’s the silver lining to a very dark cloud though, as mortgage rates are far higher than they have been in recent years and almost all of those whose fixes come up for renewal will face paying much more.So if this is the end of Mortgage Mayhem Part 2 (the uncalled for sequel to Liz Truss and Kwasi Kwarteng’s original instalment), what happens next?On this week’s podcast, Georgie Frost, Helen Crane and Simon Lambert survey the wreckage of the past few months and look at what could come next for mortgage rates and homeowners?With higher rates here for the foreseeable future, they also discuss what this means for people’s finances and how mortgage hikes are likely to eat most people’s pay rises and then some. Simon explains why after such a long period of stagnant real wages, this is a major problem.In cheerier news, Premium Bonds have had another big bump up in the prize rate, so are they now a no-brainer?(For those listening to the podcast and looking for it, here is the link to our Premium Bonds winning stats piece Simon mentions).Plus, what is the tale of good customer service that Simon has returned from holiday with?And finally, how did Helen go viral with an old carrier bag? Hosted on Acast. See acast.com/privacy for more information.

When it comes to HM Revenue & Customs, it's safe to say that many business owners and accountants have become well-acquainted with chaos.The push for a digital tax system has left some waiting months to receive basic tax information - and following a This is Money investigation, where we spoke to someone inside the madness, we have received an avalanche of taxman woe.This week, Angharad Carrick, Tanya Jefferies, Lee Boyce and Georgie Frost reveal what's been going on - and whether customer service has become worse.Meanwhile, being an executor is a great responsibility - and it can be a nightmare.Stephen Gold is a retired judge and author who recently acted as executor for his beloved late aunt.The process eventually saw him force a string of banks, finance firms and institutions pay compensation for unacceptable errors and delay.His torrid experience led him to produce a three-part series and we talk about why companies must get the bereavement service right.We saw the 14th rate rise on the bounce from the Bank of England this week. It's up to 5.25 from 5 per cent and expectations are for another rise or two to come this year before the MPC stop turning the screw.But have any of the rises helped with inflation? And what will this mean for savings and mortgage rates?And finally, where do you stand on the great plastic lawn debate? A recent survey suggests that a quarter of people want it banned. But why? Hosted on Acast. See acast.com/privacy for more information.

Energy firms have had their feet held to the fire this week.The industry as a whole has been blasted by the regulator Ofgem over poor customer service, while our investigation revealed that 200 customers don't think Ovo has been billing them properly.Meanwhile, British Gas has been in the spotlight for its bumper profits, which jumped by a whopping 889 per cent for the first half of this year. These firms are certainly making plenty of money - so should they be spending more of it to help their customers?Lee Boyce, Helen Crane and Georgie Frost ask why things are going so wrong, and what people can do if they don't think they are being billed correctly. We also look at what's going on with bank accounts. Crisis-hit Natwest is winning the switching battle thanks to its tasty cash incentives, and it’s not just Farage being 'de-banked'.We hear the story of one vulnerable couple who were left unable to pay bills and buy food after HSBC closed their account.Inheritance tax has also been in the news, as there are noises it might be scrapped - but the Treasury are raking in even more money from it. Will it go?Finally, we explain what blended families need to know about making a will - after one woman was forced to bid for her late mother's belongings at auction when her stepfather amended their mirror wills after she had died. Hosted on Acast. See acast.com/privacy for more information.

Earlier in the week, the consumer prices index measure of inflation fell by more than expected thanks to a fall in transport and food prices.It eased to 7.9 per cent in June, a bigger drop than expected, according to the Office for National Statistics. This was the lowest CPI rate since March 2022 when inflationary pressures began to amplify the headline figure.So what does that mean for the typical household and for potential future base rate rises? Lee Boyce, Sam Barker and Georgie Frost delve into CPI and what that means for mortgages and savers.And on the note of savers, two pieces of data this week point to a mixed picture for our financial resilience. On one hand, a survey suggests one in three people do not have enough savings for an emergency - and on the other, that a third of savers are earning 1 per cent or less, and for some that's on five figure pots.If inflation does stay sticky, pensioners could see a big rise in in the state pension - if politicians keep the 'triple lock' pledge.Data suggests that by 2030, the annual state pension figure is likely to be between £13,000 and £14,000.Before you head off on holiday, we reveal the cruel new scams you need to know about.And… bitcoin to surge to $120,000 by the end of 2024 according to one major bank. How likely is that and why does one expert think it's nonsense. Hosted on Acast. See acast.com/privacy for more information.

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Banks have come into the firing line this week over current account closures and slowness to pass on base rate rises to savers.Nigel Farage claims his bank shut his current account over his Brexit views – the former politician has been vocal on Twitter about his treatment by Coutts, while the exclusive bank with a high net wealth clientele has fired back.So, can banks realistically do that to you? Georgie Frost, Simon Lambert and Lee Boyce tell you all the reasons your bank can close your current account – and what to do if it happen to you.And on the same day big bank bosses faced a grilling from the FCA about paying savers fairly, Lloyds, Halifax and HSBC hike rates – coincidence?Savings deals have been rocketing in recent months, experts give their views on whether we’re at a peak – or if there is further still to go for savers.With savings rates rising, many are questioning whether to bother investing - one thinktank reckons Britons are ploughing far too much into cash instead of investing. How do the figures stack up?And finally… would you pay into your partner’s pension? A spouse can pay into their partner's pension while they are not working to ensure they do not miss out financially in later life, but is it a wise move? Hosted on Acast. See acast.com/privacy for more information.

Artificial intelligence has burst into the headlines over the past year and generated excitement among investors.But as with any exciting new technology that has generated a lot of hype, there will be pitfalls for investors along the way. If you want to invest in the AI revolution, what other companies could benefit and what do you need to consider. This is Money's Simon Lambert speaks to eToro’s Sam North to find out more. Hosted on Acast. See acast.com/privacy for more information.

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 past 6 per cent – challenger banks are driving the rises, but even bigger banks are boosting some deals.Personalised licence plates on cars have surged in popularity – but why? And what makes one worth a five-figure sum?Can you live without sat nav, parking sensors, heated seats and a… CD player in your car? A new survey reveals the motoring gadgets we can't live without.We talk about the scammer turned good who is worried about AI and fraud. And what money stories did Helen bring back from her Glastonbury adventure? Hosted on Acast. See acast.com/privacy for more information.

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?On this rate rise special podcast, Georgie Frost, Lee Boyce and Simon Lambert tackle all that and more. Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

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? Hosted on Acast. See acast.com/privacy for more information.

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 the huge volume of social media scams more seriously.Helen gives a big update on her Crane on the Case column and the great dishes debate finally resolved: Is it cheaper to wash up by hand or use a dishwasher? Hosted on Acast. See acast.com/privacy for more information.

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 10.1 per cent to 8.7 per cent in April, experts are pricing in another interest rate rise - and that is down to a surprise jump in something called core inflation.We explain what that is, and discuss just how high the base rate might go.Mortgage rates have also been on the rise, with major lender Nationwide hiking its fixed and tracker mortgage rates by up to 0.45 per cent among others.We look at why that is happening, and take in some advice from brokers on what those with a remortgage deadline coming up should do.But with bad news for mortgage holders comes good news for savers, with easy-access rates edging ever closer to 4 per cent. We list the best buys.The US debt ceiling has also been in the news this week, with the two main parties engaged in a stand-off about whether it should be raised. If it isn't, the world's biggest economy could default on its debts - but what exactly would that mean, and how big is the risk?Finally, with warmer weather on the way we discuss the new phenomenon of 'campervanflation', and why the younger generation can't seem to get enough of the classic VW Camper. Hosted on Acast. See acast.com/privacy for more information.

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 wages?And is it time to hike the higher rate threshold and pull people back down to basic rate tax?On this podcast, Georgie Frost, Lee Boyce and Simon Lambert discuss the thorny issue of tax and who counts as wealthy.The debate moves on to inheritance tax – another levy designed for the very rich but now hitting the wealthy middle classes. Why is IHT so unpopular when most don’t pay it and does it need reform?Plus, how much have you lost to inflation, will you get Nationwide’s new £100 Fairer Share bung, and finally, would you buy food two years past its best before date for big savings? Hosted on Acast. See acast.com/privacy for more information.

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 madness, a helping hand for trapped renters, or something in the middle of all that?Why people should claim pension credit or help their friends or relatives who could.And finally, not only will it lack the crisp one-liners of Succession, but an inheritance drama is not something you want to get into, so how can people avoid one? Hosted on Acast. See acast.com/privacy for more information.

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 complicated than that?Is not wanting housing developments Nimbyism if there’s a failure to build well and deliver infrastructure?How can we convince local communities to back new housing?All this and more come up for debate.Also on the podcast: If you are in the fortunate position of being able to buy a home but are worried about falling house prices and locking into high mortgage rates, what should you do?Sam North, of eToro, joins us for the latest market update, including the reaction to the Fed's latest rate rise.Will a new crackdown on scams finally stop the fraudsters?And finally, we said it was coming. The 5 per cent savings rate is back, but should you get one? Hosted on Acast. See acast.com/privacy for more information.

Hosted on Acast. See acast.com/privacy for more information.

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 high inflation, as CPI stubbornly stuck above 10 per cent, but why are food prices still rising so rapidly, are supermarkets or producers cashing in, and what can you do about it?And finally, supermarkets have a new loyalty card wheeze - lower prices for those with them and more expensive groceries for those without. Sainsbury's Nectar Prices has followed Tesco's Clubcard Prices and now the Co-op has member prices too. Is this enough to change Simon's mind on loyalty cards? Hosted on Acast. See acast.com/privacy for more information.

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 doubled may not be a good thing.Simon takes a look at UK shares, why they are considered cheap and whether they are a decent investment or not.Helen talks through her latest Crane on the Case and how it involved a loyal BA customer locked out of a staggering number of Avios points and getting a raw deal from the airline on sorting it out.And finally, here is a test of your age: how well do you remember the Ford Orion, Austin Maestro and Vauxhall Nova… and did you ever believe that one day they’d be classic cars?Related linksThe great mortgage gamble: what should you do?The top 50 house price hotspots The UK stock market is cheap but will investors who back it finally get luck on their side? Have my 650,000 Avios points vanished?The cars turning into unlikely classics Hosted on Acast. See acast.com/privacy for more information.

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 the past. Elsewhere, research this week has shown Britons are still dragging their feet when it comes to making a will. The team looks at why it’s important, how to do it – and why it isn’t just about money. Etoro’s Sam North provides the latest update on the markets as we head into the long weekend. We also discuss why broadband companies have been able to get away with ignoring instructions from regulator Ofcom to make switching easier for customers. It told them two years ago that they needed to make it possible to swap providers in just one day – so why are most of us still left languishing without an internet connection for up to two weeks? Finally, do you fancy a sabbatical from work to travel? Some big firms are offering the extended time off as a perk to long-serving staff – but would your boss let you go, and how would you afford it? Hosted on Acast. See acast.com/privacy for more information.

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? Hosted on Acast. See acast.com/privacy for more information.

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 Pokémon cards really an investable asset? The This is Money team dived into the world of collecting hem this week, Simon explains what they found out. Hosted on Acast. See acast.com/privacy for more information.

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 expansion of free childcare... but it won't come in for some time. The team look at all those elements and more.And finally, as the Budget claimed the headlines something else was rumbling on: a mini-banking crisis sparked by the Sillicon Valley Bank collapse. What is going on there and should we be worried? Hosted on Acast. See acast.com/privacy for more information.

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 the problems and discusses what they mean for people, with Georgie Frost and Simon Lambert.Also, the team talk about why you should put your savings in a cash Isa, where to find the best ones and why transfers might be the most important thing you can do.Plus, who are the Dividend Heroes, what have they got to do with the Rolling Stones and what can we learn from them on long-term investing?And finally, rising interest rates have severely hampered the amount of mortgage a monthly payment can buy, so, could you afford your home now? Hosted on Acast. See acast.com/privacy for more information.

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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. Hosted on Acast. See acast.com/privacy for more information.

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? Hosted on Acast. See acast.com/privacy for more information.

Inflation is theoretically running out of steam but there's one essential that's still going up in price rapidly: food.Even as energy prices and other recent highly inflationary items slow a bit, the cost of food seems to show no let up - with reports reporting inflation-busting rises.What is going on here? How much have food prices risen, why have they gone up so much, are supermarkets or brand-name makers profiteering, and will costs ever come back down?Georgie Frost, Angharad Carrick and Simon Lambert, delve into food prices on this week's podcast - and look at ways you could save money.Plus, mortgage rates are falling while the base rate is going up: why is that and what happens next?Should you invest in a VCT, not just for the juicy tax breaks but also for the investment opportunities on offer?And finally, we met the founders of Seatfrog to find out how they are helping passengers buy up unused first seats on trains at bargain prices and their plans for making train ticket-buying better. Hosted on Acast. See acast.com/privacy for more information.

Are we nearly there yet? The Bank of England hiked interest rates again this week, adding 0.5 per cent to take base rate to 4 per cent.That’s a level that it was almost unthinkable we’d reach so quickly a year ago, but rates have gone up hard and fast.The questions now are will base rate stall and when will it come back down again? But while the Bank of England has sent rates up like a rocket, it’s forecast show that they will only fall like a feather.On this week’s podcast, Georgie Frost, Tanya Jefferies and Simon Lambert look at how likely those forecasts are to be correct and what this all means for the economy, mortgages, savings and first-time buyers.Also on the show, Tanya explains another potential state pension scandal that her and Steve Webb have uncovered and Steve joins the podcast to talk through it.Sam North, of eToro, gives us a market update and explains why investors have sent stock markets soaring at the start of 2023.The clock is ticking on the tax year and Simon explains why he thinks the next couple of months are vitally important for getting money into an Isa and potentially selling some investments to do so.And finally, do you love your tumble dryer? Many do but worry they can’t afford to run them. Fear not, help might be at hand. Hosted on Acast. See acast.com/privacy for more information.