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This is Money Podcast

This is Money

News, Business News, Investing, Business

4.4 • 735 Ratings

🗓️ 1 April 2016

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In the way that worried nuclear bunker owners are probably stock-piling food as the reality of a President Trump dawns on them, so the Bank of England is preparing for the financial equivalent.

The bank that has its finger on the financial pulse of the nation is worried.

Worried enough to create a ‘what if…’ model that incorporates total financial meltdown, a collapse in the value of housing and the end of banking as we know it.

It maybe the stuff of nightmares but it’s also what This is Money editor Simon Lambert, personal finance editor Rachel Rickard Straus and Share Radio presenter George Frost tackle on in this week’s light entertainment look at the week’s money events.

How will we cope if oil becomes so cheap there’s no point extracting it, if savings rates are so low they’re negative or if a lack of growth turns to depression?

Are we really on the brink of another financial crisis?

In other news…

There’s tough new checks on buy-to-let – the clampdown continues (the Bank of England is worried about that too)

Buy-to-let has caused a big fall in house prices – but only in Bolton

People who trusted a unauthorised online bank that issued fake cheques may lose their homes

You’ll learn how to use your body to make money (no, not like that)

And…

What’s the weirdest job you’ve ever had?

Bog standard like Georgie or bog standards like Rachel?

Email us hello@dmgmedia.co.uk

Text us 020 7938 6000.

Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen Crane

Producer: Georgie Frost

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

Transcript

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0:00.0	This is Money, brought to you in partnership with NS&I, giving you 100% security for your savings.
0:18.7	A very warm welcome to This Is Money and Share Radio podcast in partnership with NS&I.
0:24.3	I'm Georgie Frost here with you on DAB across the country online and through the Share Radio mobile app.
0:29.7	Every weekday from 9 until midday, sharing ideas about money.
0:33.7	I'm joined in the studio by editor Simon Lambert and personal finance editor Rachel
0:37.7	Rickard Strauss to talk through some of the stories on their website they've been investigating
0:41.9	over the last seven days and on the agenda today.
0:45.8	Broader global impacts, property migration, political stability and water.
0:49.8	Weaken the power, a seven-year low, volatility, serious financial crisis, when the next bubble bursts. Game over, man. Banks are told to put aside billions for next doomsday amid fears over the global economy. We're on the brink of the next financial crisis. Could this also spell out more bad news for savers, who, let's be honest, have had a pretty tough week? the low base rate, which we've had for years and years and years, it's the funding for lending
1:14.9	scheme. And I suspect to a degree it's this issue that banks have to control how much money
1:19.8	they've got. And banks aren't the only one on Mark Carney's radar. The Bank of England turns
1:25.2	the screw further on Baitto-let investors announcing tough new
1:28.9	checks. It says investors rush in to beat the stamp duty hike.
1:33.3	We've got a huge amount of landlords looking at trying to complete on purchases before the
1:37.3	end of the business day to avoid this hike in tax.
1:40.3	Meanwhile By-Tillette is being blamed for the fact that despite an average UK house price rise of 172%,
1:47.0	Paul Bolton has seen falls of 9%, the only place to do so.
1:52.0	Buy-to-let investors often, particularly institutions, will come along and buy a swave of properties at a time,
1:57.0	which obviously then has a downward effect on property values generally in that area.
2:01.7	Also today, if it sounds too good to be true, it probably is,
2:04.9	especially for a large number of borrowers who face losing their home
2:08.1	or having their credit records wrecked after signing up to an unauthorised online bank.
	...

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