Money Box

Emily Williams, Director of Residential Research at Savills, and Sarah Tucker, Founder of The Mortgage Mum, share valuable insights on the current housing market. They discuss how rising costs make homeownership daunting, especially for first-time buyers. The conversation covers the challenges of saving for deposits, navigating mortgage processes, and new stamp duty changes that leave some buyers disadvantaged. Their expert advice aims to empower potential homeowners, highlighting real-life stories of perseverance in achieving homeownership dreams.

In this engaging discussion, Tim Jarvis, Director General of Markets at Ofgem, tackles the pressing issue of back billing in the energy sector—highlighting how this illegal practice has affected countless consumers. He urges for urgent reforms and better accountability among suppliers. The conversation also delves into looming inheritance tax changes on unspent pension pots, expected to impact many from 2027. Listeners are encouraged to rethink their financial strategies amidst rising living costs and forthcoming legislation.

People owe more money for gas and electricity bills than ever before. New calculations from the energy consultancy firm Baringa reveal the average typical energy debt is £1,500 - that's up £300 in a year. The total owed to energy companies is 3.8 billion pounds, which is almost double what it was two years ago.Energy prices are also forecast to rise by 5% from April, adding £85 a year to household bills meaning a household using a typical amount of gas and electricity would pay £1823 a year.In this Money Box Live, we're finding out how to manage energy debts and how to avoid getting into the red in the first place.Ruth Alexander is joined by Matthew Sheeran from the free debt advice provider, Money Wellness, and Eleanor Taylor from Baringa.Presenter: Ruth Alexander Producers: Sarah Rogers, Catherine Lund and Neil Morrow Editor: Jess Quayle(First broadcast 3pm on Wednesday 19th February 2025)

In this fascinating discussion, Kate Pender, Chief Executive of Fair For All Finance, sheds light on the troubling practice of back billing in the energy sector. She delves into the urgent need for regulatory oversight and transparency among energy suppliers, following a recent investigation. The conversation also highlights a new low-interest loan scheme from credit unions aimed at helping those drowning in high-interest debt, emphasizing the critical role of consolidation for financial recovery.

We all dream about what we will do when we don't have to work anymore. The perfect retirement looks different for everyone, from travelling the world and luxury holidays to spending more time with family and friends, but the cost of stopping work can be bit of a wake-up call.In this Money Box Live we'll look at how to make the most of the savings you have as retirement approaches to how to start planning for retirement at the start of your career.Felicity Hannah is joined by Sangita Chawla, Managing Director at Standard Life and Zoe Alexander, Director of Policy and Advocacy at the Pensions and Lifetime Savings Association to answer your questions - and offer tips on how to plan for a good retirement.Presenter: Felicity Hannah Producer: Catherine Lund Editor: Jess Quayle(This programme was first broadcast at 3pm Wednesday 12th February, 2025.)

The Chair of the House of Commons Energy Security Committee has told Money Box that the behaviour of the energy firms is "outrageous" following our investigation into so called back-billing. That's when energy firms send out a new bill for gas or electricity which was used more than 12 months before. Last week we reported that thousands of people have complained that is still going on. Energy UK, which speaks for the big suppliers said if customers think they are being asked to pay for energy covered by the back-billing policy, they should contact their supplier as soon as possible to resolve the complaint quickly and efficiently. The Department for Work and Pensions asks executors and families to repay state pensions it has sent to people who have already died. It says it asks for it back to protect public funds, but do you have to pay?And high interest rates means more people paying tax on interest savings, but how do you know and what are the rules?Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Jo Krasner and Eimear Devlin Editor: Sarah Rogers(First broadcast 12pm Saturday 8th February 2025)

Paying for care in later life is something many of us will face. Unlike other NHS services, social care is not free at the point of use, the average annual care home cost is £60,000, if additional care is needed that price will go up. After a recent special Money Box Live from Grange Care Residential Home in Sheffield we received so many questions that we simply couldn't get through them all on air, so we've raided the inbox and brought in the experts to return to the topic to answer as many was we can.From how to plan to pay for care, what your money pays for, and how to challenge fees, Felicity Hannah, is joined by Tish Hanifan, the Founder of the Society of Later Life Advisors and Vic Rayner, CEO of the National Care Forum and Chair of the Care Providers Alliance.Presenter: Felicity Hannah Producer: Catherine Lund/Sarah Rogers Editor: Sarah Rogers(This programme was first broadcast at 3pm on Wednesday the 5th of February, 2025).

Backbilling is causing distress among energy customers, with many facing unexpected charges despite regulations aimed to protect them. The discussion reveals the emotional and financial toll of these practices. The Lifetime ISA is under scrutiny, particularly its effectiveness for first-time homebuyers in a soaring property market. With water bills set to rise steeply, the financial strain on households is highlighted. Additionally, the impact of Storm Éowyn on power outages in Northern Ireland raises concerns about compensation and support for affected residents.

Research from charity Scope suggests that disabled households have to find an extra £1,000 pounds a month to have the same standard of living as non-disabled households. Extra costs include, heating, equipment and transport. Having a disability can also mean navigating the benefits system - a system that Chancellor Rachel Reeves said today would undergo reform by the spring, as the government struggles to manage the rising cost of claims.Felicity Hannah is joined by Dan White from Disability Rights UK and Sarah Coles, Head of Personal Finance at Hargreaves Lansdown.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle(First broadcast 3pm Wednesday 29th January 2025)

Over 1.4 million pensioners received unexpected tax bills last year, highlighting the importance of understanding state pension tax implications. Many retirees were caught off guard, with some facing new tax liabilities for the first time. Meanwhile, debt relief orders have surged, providing an alternative to bankruptcy for those overwhelmed by debt. The conversation also covers the vast amount of savings sitting in low-interest accounts and new regulations preventing mid-contract telecom price hikes, aiming for transparency for consumers.