Martin Lewis

"We are expecting an interest rise tomorrow - the current UK base rate is 1.75%," he said. "It's likely to be going up to 2.25% or 2.5% tomorrow, so that's a ...

"The only tool the Bank of England has to deal with inflation is interest rates." "It's supply of goods the prices are going up, [but] the only tool the Bank of England has is to reduce demand by lowering interest rates. Martin Lewis has said there is "very, very little hope" of interest rates falling in the near future - and that they could rise even further. Mr Lewis said there was "clearly an argument" over rising rates which he said posed risks of further price increases. But we're hearing that interest rates could rise even higher in the year ahead." "We are expecting an interest rise tomorrow - the current UK base rate is 1.75%," he said.

Martin Lewis has issued an urgent warning to everybody with a credit card ahead of a predicted rise in interest rates this week, explaining they could save ...

If you believe a zero per cent balance transfer card may help you save money, you should make use of an eligibility calculator first. If not, you may lose the zero per cent interest perk. This will carry out a “soft credit search” and will not be viewed by lenders. You can't afford not to check for a... If you are likely to be approved for one of the cards, it is important to remember that you still may not be given the top rate if it is being advertised as “up to” a set number of months at zero per cent. "Can't afford to clear your credit card? This is due to the cost of borrowing going up, as it results in banks offer less competitive deals. Firstly, you need to ensure that you are able to clear your debt before the zero per cent interest period ends as if not you will start paying the representative APR. Lastly, you should not spend or withdraw cash from these cards as this could result in you losing the zero per cent interest perk. “A zero per cent balance transfer is where you get a new card to repay debt on other credit or store cards for you, so you owe it instead but at zero per cent." [credit card](https://www.edinburghlive.co.uk/best-in-edinburgh/shopping/klarna-releases-new-contactless-card-22914030) debt check to see if they could save thousands of pounds by applying for a balance transfer card, which usually come with a promotional period of zero per cent interest. [money](https://www.edinburghlive.co.uk/all-about/money) markets, rates could go up to 2.5 per cent on Thursday.

The Money Saving Expert has warned people have a day to sort out their balance.

“A 0% balance transfer is where you get a new card to repay debt on other credit or store cards for you, so you owe it instead but at 0%. These cards need to be used responsibly, otherwise you could end up adding to your debt. MoneySavingExpert has a 0% Balance Transfer calculator which carries out a “soft credit search” and won’t be seen by lenders. Finally, you should avoid spending or withdrawing cash on these cards as you’ll often lose the 0% period - and the fees can be expensive. You can't afford not to check for a... There may be shorter cards available with cheaper, or sometimes no fees. Can't afford to clear your credit card? These types of cards typically offer a promotional period of 0% interest. Writing in the latest MoneySavingExpert newsletter, Martin explained how even though credit cards are not explicitly linked to the base rate, deals have been worsening over time. This is because if the cost of borrowing gets more expensive, banks will offer less competitive deals. The base rate went up by 0.5 percentage points to 1.75% last month. “So if you need to sort yours out, sooner is safer...

The MoneySavingExpert advises on how to slash your interest rates to nothing ahead of credit card deals worsening if the Bank of England hikes interest ...

If you think a 0% balance transfer card could work for you, use an eligibility calculator first to check which ones you will most likely be approved for. MoneySavingExpert has the 0% Balance Transfer Calculator which carries out a 'soft credit search' and won’t be seen by lenders. A 0% balance transfer is where you get a new card to repay debt on other credit or store cards for you, so you owe it instead but at 0%. These cards must be used responsibly, otherwise you could end up adding to your debt. Martin Lewis has issued an urgent warning to everyone with a credit card to check if they can cut their debt now ahead of an expected interest rate rise this week. "Can't afford to clear your credit card?

On today's show, Martin addressed the potential stamp duty cut as part of Prime Minister Liz Truss' attempt to help more young people get onto the property ...

Wait for stamp duty reduction and you risk much higher mortgage payments or a seller increasing their price." Even if it stamp duty is cut, we don't know when it'd be from. "Exchanges is not part of this, it’s the effective transaction date, but they can be earlier than completion if it was a substantial transaction i.e. Martin then added: "Speak to your solicitor is the best advice. [[email protected]](http://[email protected]). The [Money Saving Expert founder](https://www.manchestereveningnews.co.uk/all-about/martin-lewis) was set to appear alongside Susanna Reid on the ITV news programme every Monday throughout September to to host ‘Martin’s Money Mondays’. This is just an unconfirmed leak - we don't know if it'll happen. The special segment aims to provide viewers with up-to-date knowledge on the crisis each week whilst holding politicians to account. If you are thinking about doing that, talk to your solicitor first to see what the impact would be. @amandagibby33 tweeted: "@MartinSLewis please please help. #stampduty." [Good Morning Britain](https://www.manchestereveningnews.co.uk/all-about/good-morning-britain) today (September 21) to offer his expert advice amid the [cost of living crisis](https://www.manchestereveningnews.co.uk/news/cost-of-living/).

The Monetary Policy Committee (MPC) is expected to increase rates by 0.75 percentage points to 2.5% - it would be the highest interest rate that the UK has had ...

Writing in the latest edition of the [MoneySavingExpert.com](https://www.moneysavingexpert.com/latesttip/) (MSE.com) newsletter, he said: “UK interest rates are expected to rise again tomorrow (Thu) for the sixth successive time. This means any repayments go towards clearing your actual balance owed and not the interest added on top, which in turn means you clear your balance faster. [Martin Lewis](https://www.dailyrecord.co.uk/lifestyle/money/martin-lewis-energy-bill-advice-27986872) is warning that credit card and loan interest rates may be about to get worse quickly. The Monetary Policy Committee (MPC) is expected to increase rates by 0.75 percentage points to 2.5% - it would be the highest interest rate that the UK has had since the financial crisis. [here](https://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards/). [here](https://www.moneysavingexpert.com/latesttip/). [here](https://www.facebook.com/groups/456066318447014/about/) or subscribe to our newsletter which goes out three times each week - sign up [here.](https://www.dailyrecord.co.uk/newsletter-preference-centre/) [Full details on £400 energy rebate monthly discounts starting in October](https://www.dailyrecord.co.uk/lifestyle/money/full-details-400-energy-rebate-27751655) [Five ‘energy-draining’ household appliances and how much they add to your bill every day](https://www.dailyrecord.co.uk/lifestyle/money/five-energy-intensive-household-appliances-27723056) [People on a low income may qualify for cash support from their local council](https://www.dailyrecord.co.uk/lifestyle/money/council-support-people-low-income-27664888) [DWP loans worth up to £812 for people claiming certain benefits can be repaid over two years](https://www.dailyrecord.co.uk/lifestyle/money/dwp-loans-people-certain-benefits-27520792) [Boost your income before October energy price hike by checking for extra benefits](https://www.dailyrecord.co.uk/lifestyle/money/boost-your-income-before-october-27865295) [MSE.com](https://www.moneysavingexpert.com/eligibility/credit-cards/search/?goal=CC_BALTRANSFERV2), as this will give you details of any impact on your credit worthiness. His big message is that “if you can't afford to clear your credit card, then you can't afford not to check for a...0% balance transfer.” He added that while most of the focus following the announcement will be on the impact on variable rate mortgages, the consumer champion is urging people with loan or credit card debt to consider switching lenders to take advantage of a 0% balance transfer. [Bank of England ](https://www.dailyrecord.co.uk/lifestyle/money/economy-experts-predict-rates-increase-28027018)will unveil the biggest hike in interest rates for over three decades when its decision makers gather for a delayed meeting.

Mr Lewis addressed it on Wednesday's ITV Good Morning Britain.

Simply [click here](https://data.reachplc.com/213222873338859) to subscribe and stay up to date with all the latest from across the city and wider West Midlands. It will be up to the energy supplier itself to see how that works." "What would happen is that the October price cap was locked in, the January price cap was being assessed so had we been on that, it would not have been as much probably. there's a lot of ifs, a lot of buts." Exchange isn't a part of it, it is the effective transcation date but it can be earlier than completion if 90 per cent was completed. "Speak to your solicitor. Talk to them first - see what the impact would be. We are on a price guarantee rate which locks in prices for two years from October. Because economy 7 is a time of use tariff, what I've been told is they'll use an average reduction on the two rates. He said: "Any chance we could hold it off til Monday just in case? "They have dropped but they are still incredibly high," he said. He was hosting alongside Susanna Reid.

Mr Lewis was hosting Good Morning Britain alongside Susanna Reid and clarified what people should do.

It will be up to the energy supplier itself to see how that works." there's a lot of ifs, a lot of buts." Exchange isn't a part of it, it is the effective transaction date but it can be earlier than completion if 90 per cent was completed. Talk to them first - see what the impact would be. We are on a price guarantee rate which locks in prices for two years from October. Mr Lewis was hosting [Good Morning Britain](https://www.leicestermercury.co.uk/news/celebs-tv/) alongside Susanna Reid and clarified what people should do.

Energy customers on LPG, heating oil and those on central heating plans still don't know what support will be available this winter.

However Ms Keegan said she couldn't confirm if those details would be given, saying: "We have said that we will put in place a scheme for all of those, obviously Northern Ireland and also the park homes etc. It's full intention to make sure we protect people in those situations as well." To get the latest money news straight to your inbox, subscribe to our dedicated newsletter People on LPG and heating oil fuel haven't heard what's coming, people in park homes and on central heating plans. The plans being announced on Wednesday will see gas and electricity costs for UK businesses, charities and public sector bodies capped this winter in a bid to help struggling firms cope with rising costs this winter. Martin Lewis has called on the UK Government to outline its support for non-mains gas customers struggling to pay their energy bills.

The MoneySavingExpert advises on how to slash your interest rates to nothing ahead of credit card deals worsening if the Bank of England hikes interest ...

If you think a 0% balance transfer card could work for you, use an eligibility calculator first to check which ones you will most likely be approved for. MoneySavingExpert has the 0% Balance Transfer Calculator which carries out a 'soft credit search' and won’t be seen by lenders. A 0% balance transfer is where you get a new card to repay debt on other credit or store cards for you, so you owe it instead but at 0%. These cards must be used responsibly, otherwise you could end up adding to your debt. Martin Lewis has issued an urgent warning to everyone with a credit card to check if they can cut their debt now ahead of an expected interest rate rise this week. "Can't afford to clear your credit card?

"That is cheaper than the old price cap would have been anyway. Looking at the wholesale gas rates isn't going to give you anything now. The rate we have now is ...

It will be up to the energy firm itself to apply exactly how that works but you should get that same reduction." The Government has said from October 1 the same 4p/kWh gas, and 17p/kWh electricity reduction will apply to many fixed rates too. The rate we have now is pretty much locked in for the next two years."

Martin Lewis has set out the way the new energy bill relief scheme will work for businesses like pubs, restaurants, shops and charities - after some had ...

"So on my first reading - and it's only just come out - the price cap for businesses is roughly akin to the new price guarantee that's coming in on October 1 for consumers. The consumer cap rates are retail rates, the business cap rates are wholesale rates, just talking about the cap on gas and electricity but there are other costs added on top of that when that gas and electricity is supplied to people. "I've had some people saying to me it's disgraceful that the business cap is lower than the consumer (household) cap rate. "Business energy usage hasn't been capped. "So what they've done is a proxy for 6 months they're putting business users on a similar price cap to the ones domestic users have been put on. He also responded to claims that the scheme is 'disgraceful' from disgruntled domestic energy customers because it appears to set the rates for businesses lower than for households.

MoneySavingExpert Martin Lewis has warned homeowners with a mortgage that the rise could see them paying an extra £40 a month.

Martin Lewis has advised members of the public to act this week in order to prevent overpaying on energy bills – read more.

READ: This stops your supplier from estimating your usage, and potentially assuming you've used more at the higher rate than you actually have." Or, if you're on a fixed tariff, your rate will likely be dropping.

MoneySavingExpert Martin Lewis has warned homeowners with a mortgage that the rise could see them paying an extra £40 a month. North Wales Pioneer: ITV ITV. Mr Lewis was appearing on Good Morning Britain on Wednesday when he was asked if ...

The decision to hike interest rates is a bid to keep inflation under control. In December 2008, the base rate was slashed from 3% to 2%. [highest single increase to interest rates](https://www.oxfordmail.co.uk/news/national/uk-today/22552142.bank-england-interest-rates-set-rise-today/) since 1989. [highest interest rate that the UK has had since the financial crisis](https://www.oxfordmail.co.uk/news/national/uk-today/22552142.bank-england-interest-rates-set-rise-today/). [Monetary Policy Committee (MPC)](https://www.oxfordmail.co.uk/news/national/uk-today/22552142.bank-england-interest-rates-set-rise-today/) meet today. [interest rates today](https://www.oxfordmail.co.uk/news/national/uk-today/22552142.bank-england-interest-rates-set-rise-today/).

Money saving expert Martin Lewis has warned people to read their meters ahead of the energy price increase on October 1.

- 4 - 3 [In his latest newsletter,](https://www.moneysavingexpert.com/latesttip/) the consumer champion said: "Meter reading day's coming but don't panic. - 2 [ announced a price freeze at £2,500](/news/liz-truss-announces-domestic-energy-prices-frozen-9260162) for the next two years, which is expected to cost the country £150 billion. - 1

The financial guru has urged people across the UK to take their meter readings on a specific date, ahead of October 1, in order to avoid paying higher ...

[financial ](https://www.edinburghlive.co.uk/news/martin-lewis-urges-british-public-25047308)guru has issued the important warning ahead of the October 1 price rise, according to Ofgem. The money man has been calling out the Government in 2022 due to the rising cost of living crisis, and steep inflation rates. Martin has also began hosting money-dedicated episodes on Good Morning Britain episodes, alongside fellow presenter Susanna Reid. We get asked this one a lot – can you submit an inflated meter reading ahead of a price increase, so more of your usage is charged at the lower rate? [breaking news](https://www.edinburghlive.co.uk/news/) to the latest on the [coronavirus](https://www.edinburghlive.co.uk/all-about/coronavirus) crisis in Scotland, we'll have you covered. [Exact date you should switch heating on to avoid the largest bills](https://www.edinburghlive.co.uk/news/exact-date-you-should-switch-25052482) [Martin Lewis announces which fixed energy customers will get their bills reduced](https://www.edinburghlive.co.uk/news/martin-lewis-announces-fixed-energy-25037315) [Age groups hit hardest by cost of living crisis and who gets full State Pension](https://www.edinburghlive.co.uk/news/age-groups-hit-hardest-cost-25023103) [The cheapest time to use your washing machine every day to keep energy bills low](https://www.edinburghlive.co.uk/news/uk-world-news/cheapest-time-use-your-washing-25045307) [Martin Lewis urges British public to spend £2 to get an instant £175 payment](https://www.edinburghlive.co.uk/news/martin-lewis-urges-british-public-25047308) He said: "Some ask: 'Can I inflate my meter reading now, so I'm charged future use at today's rate?' That'd be fraud. [here](https://www.edinburghlive.co.uk/newsletter-preference-centre/) and select Daily News. [Winter Fuel Payment qualifying week begins and who is eligible for cash boost](https://www.edinburghlive.co.uk/news/winter-fuel-payment-qualifying-week-25065201) [money expert](https://www.edinburghlive.co.uk/news/uk-world-news/martin-lewis-shares-energy-price-25021266) said: "Meter reading day's coming - don't panic, not everyone must do it, and it needn't be on the day. [Martin Lewis](https://www.edinburghlive.co.uk/all-about/martin-lewis) has urged people to take meter readings soon, in order to avoid paying a higher bill before October 1.