Young vs old, bank insults and cheap mortgages

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 9 September 2016

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week the team from This is Money join Share Radio’s Georgie Frost for an entertaining look back at the week’s big stories from the disgusting tricks hidden in cancer insurance small print to the birth of a new money superhero, Scam Man.

Also on the show:

Why banks are refusing to grant overdrafts to youngsters. Are they overeducated and misunderstood or just living in the wrong part of town? Did baby boomers really steal all the money and run away?

Did Governor of the Bank of England Mark Carney cut interest rates too soon?

Or was he misled by bankers who promised to pass on the cut to saving AND mortgage customers but didn’t.

Editor Simon Lambert explains his new investing technique: Doing Nothing.

Consumer Affairs Editor Lee Boyce lifts the mask to reveal himself as the face of a new Beat the scammers campaign. Everyone needs to know these terrifying tricks of the tricksters.

Do you have too many legs to claim on your critical illness insurance?

Banks insult their customers yet again – this time with another round of ‘We’ve cut your savings rate’ hate mail. ‘Just kill the account!’ says Simon.

It’s a brilliant time to fix your mortgage – surely these rates won’t last for very long.

Why are rare 2p coins so popular?

Would you take a pay cut for an extra day off a week?

And a bit more.

Transcript

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0:00.0	This is Money, brought to you in partnership with MS and I, giving you 100% security for your savings.
0:26.1	Everyone welcome to This is Money and Share Radio podcast in partnership with MS and I.
0:36.0	I'm Georgie Frost and joining me in the studio is editor Simon Lambert and Consumer Affairs editor Lee Boyce to round up the week's top stories they've been covering on their financial website of the year.
0:38.0	Now as savers continue to suffer in the wake of the Bank of England's rate cuts, lenders are coming under scrutiny for being
0:42.6	unfair to borrowers too, that's despite assurances from Governor Mark Carney, who's himself
0:47.8	come in for a bit of slack from MPs this week. It's alleged he over-egged economic warnings
0:52.6	about the UK leaving the EU.
0:54.8	In light of all the events since the referendum, since the evening of the 23rd, I'm absolutely serene.
1:03.7	Well, he might be feeling absolutely serene, but how do the rest of us feel in the post-Brexit vote Britain?
1:09.0	Well, it depends how old you are,
1:11.1	and it seems the young are most worried.
1:13.5	Interesting, given we're hearing this week,
1:15.7	about feckless millennials,
1:17.4	who, it's alleged by some,
1:18.7	wastes their money on nights out and coffee,
1:21.5	and are clueless about their finances, more generally.
1:24.4	Fair?
1:25.0	How financially illiterate are you?
1:26.2	How good are you with money?
1:28.4	All right.
1:30.4	It comes as we're hearing thousands of freshers eagerly preparing for uni life
1:34.5	for at risk being rejected for current accounts and overdrafts
	...

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