Mortgage rates are spiking - how bad will it get?

Mortgage rates have shot up this week as the impact of the conflict with Iran for inflation and interest rates sinks in.Banks and building societies have been racing to raise their fixed rates - with some even pushing them up twice in the space of a few days.It comes in response to a sudden switch around in expectations for the Bank of England base rate, but will this flurry of hikes continue or are the concerns overdone.On this episode of the This is Money Podcast, Georgie Frost, Helen Crane and Simon Lambert look at what's going on in the mortgage market - and what you can do about it if you are buying a home or need to remortgage.Plus, Simon has broken with the habit of a lifetime and actually fixed his energy bills for once. He explains why you should too - and how there are still potentially price cap-beating or matching deals out there.Helen outlines the nine biggest mistakes you can make with your pension - and what they could cost you.And finally, if you have a Nationwide current account and are hopefully in line for some free money from Fairer Share, this is what you must do in the next two weeks. Hosted on Acast. See acast.com/privacy for more information.

In the past week, news headlines have been dominated by the conflict in the Middle East. It has pushed up oil and gas prices, and as such, concerns over our household finances in Britain.Georgie Frost, Lee Boyce and Helen Crane discuss what the conflict means for investors, mortgage rates, price at the petrol pumps and energy bills - is there anything you can realistically do to keep a lid on the potential for runaway inflation?With the potential for inflation to spike, does that spell the end of a 'nailed on' base rate cut and what are your rights if you have a holiday or flight booked which is hit by the disruption? We also saw the Chancellor deliver the Spring Statement on Tuesday - growth downgraded, unemployment up and predictions house prices will rise by more than £40,000 between now and 2031. But with events in the Middle East, are the OBR predictions wildly out-of-date already?There is now more than £1trillion held in tax-free Isas. With a month to go until the end of the tax-year, thee has been a number of top deals launched - but are they worth opening? Hosted on Acast. See acast.com/privacy for more information.

The flying Footsie is on course for the best start to the year since 1998 and driving it are 20 stocks that have risen by 50% or more in the past year.Simon Lambert, Lee Boyce and Georgie Frost discuss what's going on for the flagship UK index and whether the run can continue.They also zoom in on Rolls Royce... its shares have soared by more than a thousand per cent in five years. Is it too late to join the party? When it comes to Junior Isas, many parents worry that once their children get access, they'll fritter it away - but is that really the case? New analysis suggests not.And NS&I has cut the underlying rate on its Premium Bonds to 3.3%. Is it time to move your money?The Government is rolling out the next phase of making tax digital which will require some to file quarterly - is expensive chaos on the way?Lastly, can you save money with an EV versus a petrol equivalent? Or does the maths simply not add up? Hosted on Acast. See acast.com/privacy for more information.

Pensions are a topic that dominate the financial landscape and for the past decade This is Money readers have had Sir Steve Webb on hand to answer their questions.A former pensions minister, Steve has been our weekly columnist for ten years and helped guide people through the maze of retirement finances.On this episode of the This is Money Podcast, Steve joins Georgie Frost and Simon Lambert to talk about what's happened over those ten years and discuss what you need to know about pensions.Whether they've been about saving for retirement, turning a pension into income, working out what the quirks of the state pension mean for you and much more, Steve has both helped the readers asking the question and the millions who have read the answers.Aided by This is Money's pension and investing editor, Tanya Jefferies, Steve has also undertaken campaigning journalism, exposing among other things the underpaid women's state pension scandal, which got us a mention in parliamentary reports.Also on this week's show, Simon reveals how to strike the best deal on a new car with the help of our industry insiders who know how much the salesman or woman will really knock off.Plus, if you get an inheritance you don't need, can you pass it on with incurring an inheritance tax liability yourself?And finally, just how good is Barclays' seemingly generous offer to pay you £1,000 for switching... and who exactly can get it? Hosted on Acast. See acast.com/privacy for more information.

In this bonus This is Money podcast episode, Simon Lambert interviews Marcus and Alexander Blunt, the brothers behind travel firm Heidi, to find out how they turned a start-up into the UK's second biggest ski package holiday firm in eight years - and survived the pandemic's threat to the business along the way. Eight years ago, brothers Marcus and Alexander Blunt were passionate skiers frustrated by the difficulty of trying to organise the mountain holidays that they and their friends really wanted.Deciding on a ski resort, sorting flights, accommodation, transfers and getting friends from different parts of the country to the right place at the right time, had Marcus building complicated spreadsheets to work things out.After one mammoth piece or organisation, they had a lightbulb moment. Maybe it was time for a package holiday firm that allowed people to tailor their ski trips to what they needed, find the best place to go to and put customer service centre stage.With both the brothers working in the travel industry, they decided to figure out how to test their concept and the appetite for it and then launched their start-up in 2018, while doing full-time jobs - and both having babies born that year.They made a pact that if they could do £500,000 worth of sales in their first year, they would quit their jobs and go all-in, explains Alexander.From there, in the space of less than eight years Heidi has grown to become the UK's second biggest package holiday firm. That's no mean feat considering that the pandemic hit just two years in - and halfway through the ski holiday season.Marcus and Alexander tell Simon how they turned their business idea into reality, how they grew Heidi, the lessons they have learnt along the way and share their tips for other aspiring entrepreneurs. Hosted on Acast. See acast.com/privacy for more information.

A shake up is happening in the world of DIY investing. Some of the biggest investment platforms are overhauling their fees ahead of Rachel Reeves' big push to get Britain investing - and under pressure from upstarts offering much cheaper services.The biggest name of all, Hargreaves Lansdown, has cut its prices for most investors, yet this seems to have triggered a chunk to jump ship. So, why are some HL investors moving if things are getting cheaper - and is it time we all looked at our investment platform fees?Georgie Frost, Rachel Rickard Straus and Simon Lambert discuss the latest DIY investing battle and what it means for your portfolio - plus what you should look for if you do want cheaper investing or a helping hand.With nearly £1trillion in Isas, how did people build up such big pots and could they end up being a target for a tax raid.What's going on with the civil service pension meltdown?And finally, the most applied for jobs and the apprenticeships that can people dodge a massive student debt. Hosted on Acast. See acast.com/privacy for more information.

Student loans look like another mess that has reached a tipping point in Britain's shonky financial system.There are three different types of student loan plan that graduates could currently be on and one of them offers a particularly bad deal.Those who took out Plan 2 student loans, between 2012 and 2022, suffered fees being hiked to £9,000, face interest rates of RPI plus 3 per cent, and have seen the repayment threshold above which they lose 9 per cent of their income bounce around at the whim of governments.Meanwhile, lots of graduates are staring down the barrel of decades of a big extra chunk coming out of their wages, but then never actually clearing the debt before it gets written off after 30 years.As the reality bites of the student loans they signed up to at 18 - for an average post university debt of £50,000 - without properly realising the consequences, many late 20 and 30somethings are increasingly angry.Do they have a point and what can we do? On this week's podcast, Georgie Frost, Helen Crane and Simon Lambert talk student loans, what might happen, what we could do - and who should pay for university.Plus, what does the Bank of England holding rates mean for borrowers and savers.For those who aren't losing their spare cash to a student loan and have got on the property ladder, should you overpay your mortgage?The man who got his mortgage paid off in four years - and how he did it.What on earth is happening to bitcoin and why is it crashing?And finally, what are the rules on flexible Isas and putting money back in? Hosted on Acast. See acast.com/privacy for more information.

The Government has announced plans for a cap on ground rent - is it a welcome policy that will finally fix a broken system or does it risk creating new problems along the way?Helen Crane, Georgie Frost and Lee Boyce discuss the plans first revealed on TikTok by the Prime Minister, what's potentially changing and when.Watch out - HMRC is about... Stamp duty investigations are on the rise - is it all Angela Rayner's fault? And how do buyers find themselves in the crosshairs? 'Metal madness' is still in full swing with gold and silver on a tear up with some huge gains this week, but also some hefty falls. What's going on?NS&I has made some cheeky rate cuts but a cash Isa season seems to have erupted early - where can you find the best rates? And lastly, wood burners. Are they an environmental no-no, or can they help save money on your energy bills? Hosted on Acast. See acast.com/privacy for more information.

Donald Trump has been hijacking the headlines this week, with his speech at the World Economic Forum in Davos a major talking point globally. With plenty of geopolitical drama afoot, what does a weakening US dollar mean for UK investors with money tied up in US and global funds?Simon Lambert, Georgie Frost and Lee Boyce discuss.One of the world’s biggest investment firms, Vanguard has spurned the Chancellor's efforts to drive up investment in the UK, as it plans to cut its LifeStrategy exposure to the UK - why and what should you do?Nationwide has bumped up what it will lend on mortgages to six times salary – it means borrowers can potentially borrow £50,000 more.Is this a step in the right direction or the path to trouble? Are you saving enough for retirement? Our analysis shows what you need in your pot at every milestone age to be on track… and what to do if you’re off target.This is Money reporter Harvey Dorset tries out a £5,000 smartphone - so what do you get for such a huge outlay?Lastly, Lee speaks to actress Joanna Page about her finances – the Gavin and Stacey star reveals what her mum and nan taught her about money.  Hosted on Acast. See acast.com/privacy for more information.

Life isn't what it once was for star fund managers. The investment industry once thrived on big names but these widely recognisable figures are few and far between nowadays.Two that remain are Terry Smith and Nick Train but their Fundsmith and Finsbury Growth & Income investors have had their patience tested by five years of underperformance compared to just sticking money in a cheap market tracker fund.Both managers defended their approach this week, while offering their investors an apology of sorts.So, is it time to swap your star fund manager for a cheap index fund, or are the stock pickers likely to be proved right in the end?On this podcast, Georgie Frost, Helen Crane and Simon Lambert discuss the cult of the fund manager and whether it's had its day.Meanwhile, The Chancellor wants to get more of us investing but MPs have looked into her plans to cut the cash Isa limit and said it's unlikely to lead more people to the UK stock market. That's exactly what most investment experts told the Chancellor before the Budget, so is there any chance of change of heart?Parts of the London property market have been having a quiet house price crash, Georgie, Helen and Simon discuss what's going on and what kind of properties are affected.The team also ask if cashback is worth it - and look at the deals that could cost you money.And finally, if you want a cheap electric car runaround, what are your best options and what would it cost you? Hosted on Acast. See acast.com/privacy for more information.