Is there any point trying to make people switch bank? This is Money Show
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 12 August 2016
⏱️ 51 minutes
🧾️ Download transcript
Summary
Yes, it's just what we've all been waiting for - another report on the banks. This week, the CMA delivered its recommendations to shake up the current account market. Were they any good? And should we even bother trying? After all, the banks themselves already offer us free money, savings account-smashing interest rates and lots of other goodies. Simon Lambert and Rachel Rickard Straus, join Georgie Frost in the Share radio studio for the This is Money Show to talk banks and much more. Also on today's show, we ask if now is the time to buy a bargain property as Brexit worries deliver price cuts, whether Help to Buy needs to be axed and if a fixed rate mortgage still beats a tracker. Simon also has an idea for a new Office of Budget Simplicity designed to cut through daft ideas like the family home inheritance tax break. Listen to the show, leave us a comment or rate it and subscribe to the podcast. Thanks This is Money
Transcript
Click on a timestamp to play from that location
| 0:00.0 | This is Money, brought to you in partnership with NS&I, giving you 100% security for your savings. |
| 0:10.6 | Now, very warm, welcome to This Is Money and Share Radio podcast in partnership with LS and I. I'm Georgie Frost. |
| 0:16.0 | Joining me in the studio editor Simon Lambert and personal finance editor, Rickard Strauss to round up the week's |
| 0:22.4 | top stories they've been covering on their financial website of the year and coming up an |
| 0:27.5 | open banking revolution or letting the big boys off the hook. |
| 0:31.4 | The idea is that we will be able to give websites or applications, secure access to our bank account details. |
| 0:39.3 | Two years, five million pounds and 766 pages later, the watchdog produces its final report |
| 0:45.2 | into retail banking, not gone down too well in some quarters. |
| 0:49.1 | People have to be interested in comparing current accounts to actually use it, otherwise |
| 0:53.7 | they're simply not going |
| 0:55.3 | to bother. They're going to stay with where they are. And that's why I find it a bit disappointing. |
| 0:59.9 | Does it go far enough to break the dominance of the big bank? Simon and Rachel give us their take. |
| 1:03.9 | A week on, we look at the impact of the Bank of England rate cut and Brexit vote on annuities, investment |
| 1:09.9 | trusts and homes. It's a Brexit |
| 1:12.2 | bonanza we're hearing for property hunters. I think it's just a period of uncertainty so people |
| 1:16.9 | are not sure what to do. So some people are taking homes off the market. But then there's also |
| 1:21.1 | a case where people are actually quite keen to move on. One in three homes for sale had its |
| 1:25.0 | asking price slashed after the EU vote, a wobble or a seismic shift. |
| 1:29.8 | We also answer your question, with another rate cut on the card, is it better to fix or to track your mortgage? |
| 1:35.6 | And savers, where can you look to make money in this post-Brexit Britain without gambling your nest egg away? |
| 1:41.4 | From current accounts to property, gold shares, even wine and classic cars, |
| 1:45.4 | we size up the risk. Also coming up, watch out, Simon takes aim at the more controversial |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from This is Money, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of This is Money and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.