Was that as good as it gets for savers this time round?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 6 September 2019

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Savers have been dealt a series of blows over the summer and the latest came this week with an NS&I cut, so was that as good as it gets this time round?

On this week’s podcast, Simon Lambert, Sarah Davidson and Georgie Frost look at why savings rates have started to slip again, and how the mortgage price war, stuttering UK property market and even Donald Trump’s trade spat with China fit in with that.

Meanwhile, after one of the most tumultuous weeks in British politics in a decade – at the end of which we are still unsure whether a no-deal Brexit or General Election are on the cards or out of the question – the team look at how to protect yourself against the fallout.

Should you act to bolster your savings, mortgage, pension and investments against potential risks?

Is that just good financial planning anyway?

Does stock piling food ever make sense?

The trio look at the expert advice and share their opinions on those topics.

Away from the Brexit row, a domestic political hot potato was being thrown around at the beginning of this week too, Labour Shadow Chancellor John McDonnell’s idea for right to buy for tenants to purchase their landlord’s buy-to-let property a discount.

The team look at what the concept is, whether this could ever work and who would foot the bill?

And finally, are electric cars greener once you factor in the build and the battery? A new survey says it has the answer.

Transcript

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0:00.0	Welcome to This Is Money. I'm Georgie Frost and joining editor Simon Lambert and me today is Knowledge and Product Editor Sarah Davidson.
0:06.8	And coming up, autumn is here and with it an ill wind through the savings market.
0:12.4	But why are things looking so bleak and are there any warm spots out there to be found?
0:17.5	There's a veritable hurricane happening in politics.
0:20.5	We'll offer some tips on how to
0:21.6	weather the Brexit storm. Should we really be stockpiling food? And we'll also take a look at
0:26.7	how Labour's right to buy plans would work in practice. Plus, just how much better for the environment
0:32.3	are electric vehicles. Don't forget you can stay up to date. With all the latest breaking money
0:36.3	news, just go to this ismoney.com.uk or download the app. But first, 12 months ago, Marcus, burst onto the scene
0:45.0	to give a rare and much needed boost for savers. A mini-rates war followed with even a high
0:51.4	street bank, RBS Nat West, getting in on the action with its own
0:55.0	1.5% deal. Fast forward though to now and good old Marcus has trimmed its offering, NSNI
1:01.3	Virgin Nationwide also been slashing their rates this summer. So is that it? Is 1.5% as good
1:08.0	as we can expect before recession worries and rate cuts set in. Firstly, Simon,
1:14.9	you're back from your holidays, you've had a marvellous summer, not so good for savers.
1:19.2	What's been going on? No, all good things must come to an end, as they say, whether you can
1:24.9	include a 1.5% savings rate in under the banner of all good things.
1:30.9	I'm not so sure. It's not quite like a beautiful romance or a wonderful holiday or a period of time before anybody knew about the word Brexit.
1:42.3	We can dream. But just under a year ago, Marcus, the online consumer savings bank of Goldman Sachs, burst
1:51.8	onto the scene with a heady 1.5% rate which eclipsed all others, which our very own
1:59.7	Lee Boyce had said a month earlier it was going to do.
2:04.6	It'd tip people off that this was the thinking this was going to happen and it arrived and it didn't disappoint.
	...

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