Are mortgage affordability rules stopping you getting a cheap remortgage?

Over the last year the regulator has introduced stringent affordability rules on mortgage lending. These check all of your incomings and outgoings to see if you can repay not just at today’s rate but at rates of 6% or 7%. The laudable aim is to try and robustly protect you from overcommitting in the event of an...

Green energy is surprisingly unpopular

Last week we launched the MSE Big Winter Switch Event – a collective switch where we’ve used the huge user base of this site to negotiate what are mostly cheaper than the cheapest energy tariffs. While all the deals are hot, by far the hottest compared to its peers is the Green Tariff, yet while the event...

MoneySaving health warning…

It starts with something soft. You get 20% off at your favourite shop. It’s so easy, you feel like doing it again, this time perhaps a code-stack or a bit of extreme couponing. Before you know it, you’re hooked and every element of your financial life is being attacked to cut costs – mortgage, credit card, PPI...

The real reason why companies offer ‘a month’s free trial’

These days a very common method to build a customer base for service industries, whether it’s Netflix, credit monitoring services or even Graze food boxes, is the ‘month’s free subscription’.   The obvious reason why companies do this is the apathy dividend – in other words, the hope that they’ll gain as people simply forget to cancel for...

Morally bankrupt: Payday lender Smart-Pig’s student targeted ad hides its 1,089% APR – I’m reporting it to the FCA and the ASA

While I was getting the lift to the tube over the weekend, I spotted a payday lender advert on the wall. I always scan these things to see how they try and sell their costly wares, and to check out the APR, but this time I couldn’t see it. I looked at the small print. Nope it...

Is it age or a different generation that makes older people more trusting?

I was mulling today about my grandmother who is now in her early 90s. A few years ago, before her dementia sadly progressed so far as to make this issue redundant, she would constantly call me after a salesman had come to her door, asking me if she should switch to their product. When I asked her...

Beware universities mis-selling courses on open days

It’s university application time. Hundreds of thousands of potential students across the country are deciding on their top pick institutions and courses. Many will have been on open days and been impressed by the facilities of the high powered institutions that could change their lives. I’m a huge fan of university education – I think for many...

Don’t shorten your mortgage term if you can overpay

This morning a nice lady approached me to ask a quick question about her mortgage. She said that thankfully, her finances were in a good state and she had a cheap variable rate mortgage, so she was considering cutting her mortgage term to be able to clear the mortgage much more quickly. On the surface this is...

Foodbank financial triage – an update

In August I blogged that I was going to fund a radical pilot scheme to get financial triage into foodbanks with the Trussell Trust. The idea is that when people are asking for food, it’s a great time to try and help them manage their money and see what help is available – so hopefully the trip...

Cancelling the 55% tax on unused pension pots could be a disaster for many older people

In the last Budget, Chancellor George Osborne announced he was freeing up much of the pension market so people could take their  money when they wanted – 25% of it tax free and the rest at their income tax rate. Today, at the Conservative Conference, he has said  that if over 75s do that and die, and there’s money...