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Georgie Frost

This Is Money: Can you beat the April bill hikes - and is it time we ditched the tax traps?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Can you beat the April bill hikes - and is it time we ditched the tax traps?
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? 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?
Guest:

Helen Crane


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Georgie Frost

This Is Money: The Budget Verdict — pensions, childcare, energy bills and dodging recession

Georgie Frost
Original Broadcast:

This is Money

This Is Money: The Budget Verdict — pensions, childcare, energy bills and dodging recession
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? 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?
Guests:

Sir Steve Webb, Helen Crane


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Georgie Frost

This Is Money - How to make the most of saving and investing into an ISA

Georgie Frost
Original Broadcast:

This is Money

This Is Money - How to make the most of saving and investing into an ISA
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 6th 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 episode, 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.

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Georgie Frost

This Is Money: Would you dispute an inheritance if you thought it was unfair?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Would you dispute an inheritance if you thought it was unfair?
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 in this episode. 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?

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Georgie Frost

This Is Money: Could this be the peak for interest rates - and what will it mean for you?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Could this be the peak for interest rates - and what will it mean for you?
Are we nearly there yet? The Bank of England hiked interest rates again this week, adding 0.5% to take base rate to 4%. 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, its forecasts show that they will only fall like a feather. 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 she 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.
Guests:

Steve Webb, Sam North


Published:
Georgie Frost

This Is Money: Could an ISA tax raid really cap savings at £100,000? Plus Bank of Dave's Dave Fishwick on his Netflix hit

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Could an ISA tax raid really cap savings at £100,000? Plus Bank of Dave's Dave Fishwick on his Netflix hit
An astonishing idea for an ISA tax raid was outlined by the Resoloution Foundation last week, with the proposal that tax-free savings and investments should be capped at £100,000. No more aspiring to be an ISA millionaire, it would be £100k and out under this plan. It said that the nominal money out toward not taxing ISA interest, gains and dividends should instead go in the direction of encouraging those without savings to build up a pot. Is that a good idea, would it be a fairer way of doing things, and is there any conceivable way this could actually happen? Georgie Frost, Helen Crane and Simon Lambert discuss the proposal and whether it has any merits. Spoiler alert, Simon strongly disagrees and says this would also perpetuate even greater inter-generational unfairness. Find out why. Also, the team delve into a new American Express and BA card that's been dubbed the best deal ever for Avios points, but are they worth collecting? Sam North of eToro joins us to talk through what's been going on in markets over the past week and why newly confident investors had their confidence shaken. Helen fills us in on a very depressing Crane on the Case where Scottish Widows only offered a reader £250 after they were denied their dying wish by its failure to pay out their pension on time. On a much lighter note, why have we been researching the bleeding obvious this week and testing whether putting a jumper on means you could really save money on your energy bills? And finally, we are joined by long-time friend of This is Money, Dave Fishwick, who talks to Simon about the Netflix movie about Bank of Dave and what it's like to see your life portrayed on screen.
Guest:

Helen Crane


Published:
Georgie Frost

This Is Money: Will 2023 be a better year for our finances... or worse?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Will 2023 be a better year for our finances... or worse?
The New Year has arrived and with it promises of inflation falling and a ray of hope on energy bills. But even if Rishi Sunak halves inflation, as he claims he will, it would still be running at 5% and his promise to get Britain back to growth may prove harder than the simple maths that sees inflation slow. Meanwhile, a slowdown in the rise of the cost of living doesn't mean things will get cheaper and the better energy price forecasts will still see costs at more than double what they were a year ago. So, will 2023 prove better or tougher for our finances? Georgie Frost, Helen Crane and Simon Lambert delve into the prospects for the year ahead. Plus, what is on the cards for the property market, for pensions and savers and why is Divorce Day tipped to be even bigger this year? And finally, the year is going to better financially for at least one person: the lucky January £1million Premium Bond winner who bagged the jackpot with less than £5,000 saved. Is it time we all stuck more in Premium Bonds, as the prize find is boosted?
Guest:

Helen Crane


Published:
Georgie Frost

This Is Money: Could house prices really fall 20%, and how bad would that be?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Could house prices really fall 20%, and how bad would that be?
The mortgage crunch has stalled the pandemic property boom and sent house prices down, but could they fall 20%? The risk of a severe house price downturn of that magnitude was flagged by Rightmove founder and property market veteran Harry Hill. Hill’s CV includes setting up property giant Rightmove and selling estate agency group Countrywide for £1 billion a year before the 2008 banking crisis. Hill told the The Mail on Sunday and This is Money: 'My view on the housing market is that it's going down in every direction. Transactions are going to go down. Prices are going to go down.’ He added that a bad recession would mean ‘we could see 20% price reductions’. Could house prices fall 20% from here? Why would it happen? How bad would that be? Georgie Frost and Simon Lambert discuss the prospects for the housing market, how the rapid rise in mortgage rates is affecting it and what prospective home movers or first-time buyers should do. Plus, they are joined by a very special guest: Lee Boyce, now Money Mail editor, is back on the programme to discuss the Wooden Spoon award for the worst customer service of the year. Who are the runners and riders, what did they do wrong, and why does Simon nominate a couple of firms that aren’t even on the shortlist? Savings rates have been a rare bit of good new recently and Simon talks through the attraction of small building societies and how some are offering market beating rates, but you might struggle to secure them. And finally, it’s time for a second special guest, John Mayhead of classic car specialist Hagerty, who is joins Simon to discuss the insurer’s Bull List of ten classics it tips to rise in value next year. How do these classic cars get on the list, what makes them ripe for appreciation and what’s a Citroen BX doing rubbing shoulders with a Lamborghini Diablo?
Guests:

Lee Boyce, John Mayhead


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Georgie Frost

This Is Money: Have savings and mortgage rates already peaked?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Have savings and mortgage rates already peaked?
Savings and mortgage rates rocketed after what must now always be known as the 'ill-fated mini-Budget', but even as the Bank of England continues to raise rates have they already peaked. The top fixed rate savings deals have edged down from their highest levels - a five-year fix can no longer be had above 5%, for example, while the best two year fix is at 4.75%. So, if you want to lock into a good savings deal, should you grab one now? Or did rates simply race ahead of the Bank of England and the next round of base rate rises will bump them up some more? Georgie Frost, Helen Crane and Simon Lambert look at the potential future of savings rates and why even if they are slightly off their peak, you should still move your money from old accounts. But if a dip in the top savings rates is bad, the easing of mortgage rates is good news. Average two and five-year fixed rates rocketed all the way to above 6.5%. The best five-year fix is now down to 5.95%. But this is still way higher than it was, so where will mortgage rates settle and is it worth holding off? The team discuss that and the implication for both house prices and first-time buyers. And finally, an energy double header: on a serious note, the energy price cap (which we won't pay due to the energy price guarantee) has jumped again, this time to £4,279 for the average household over a year. If we won't pay that, why does this matter? And on a lighter note, what happened when Harry Wallop (who refuses to let his family turn the heating on) tried out a bunch of oddball devices designed to warm the person not the room, ranging from an odd foot warmer, to a heated gilet, and a wearable sleeping bag that makes you look a bit like a crazy caterpillar?
Guest:

Helen Crane


Published:
Georgie Frost

This Is Money: How bad will the mortgage chaos get and will it sink house prices??

Georgie Frost
Original Broadcast:

This is Money

This Is Money: How bad will the mortgage chaos get and will it sink house prices??
Rocketing rates have sent the average two and five-year fixed rate mortgage through the 6% barrier. This is a level that would have been considered unthinkable a year ago, when there were fifty mortgage deals on the market at below 1%. The Bank of England belatedly playing catching up with inflation has sent base rate from 0.1% last December to 2.25% now - and with inflation far from tamed and the US Federal Reserve going in all guns blazing on monetary policy, rates are likely to keep going up from here. But the catalyst for the past month's big jump in mortgage rates has been the turmoil triggered by the Chancellor's ill-received mini-Budget and the flurry of borrowing Britain will have to do to fund it. So, what happens next to mortgage rates, what should people who need to fix now do, and will this send house prices sinking? Georgie Frost, Helen Crane and Simon Lambert dive into the mortgage market to look at what is happening and why - and what borrowers can do about it. Are expensive fixes now worth taking, what should you do if you are buying a home and is a variable rate mortgage really now the answer? They answer these questions and more. Plus, while rate rises are bad for mortgage borrowers they are proving good news for savers, who have been starved of decent deals for many years. The top fixed rate savings are knocking on the door of 5%, but how high will savings rates go and should you fix and risk losing out on better ones in future? The ill-fated mini-Budget also brought about the abolition of the 45p tax rate, except that's now been abolished itself as Kwasi Kwarteng staged a screeching U-turn this week. Nonetheless, Simon has some middle-class tax cutting ideas that he reckons make more sense and could be popular. And finally, a reader wrote to This is Money telling us they had some letters written to them in the 1960s by a rock star who then died young and they could be worth £20,000... but will they have to pay tax if they sell? More to the point, who could the mystery rock star be?
Guest:

Helen Crane


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