This Is Money Show

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 s

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 the

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

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,

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.

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

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.

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