we will be examining in detail different areas of the squeeze on the pound in your pocket and some of the solutions individuals and communities are finding. so, we have a panel of experts, sarah pennells is a consumer finance specialist at royal london, which calls itself the uk s largest mutual life, pensions and investment company. sabine goodwin is coordinator at the independent food aid network which provides help to those at the sharp end of the cost of living crisis. and mercedes osborne is a mortgage expert at pointers financial based in exeter. welcome based in exeter. to all of you. also with us this week is our climate editorjustin rowlatt, who is out and about giving tips to householders on simple measures that may help reduce their energy use. we will beat with justin we will beat withjustin a bit later. we have a whole range of topics lined up. first, kevin peacheyis topics lined up. first, kevin peachey is has analysis on working age benefits and whether they shou
sarah pennells is a consumer finance specialist at royal london. she can tell us more. in terms of the people who have got mortgages, we heard from andy about what this will mean. those on trackers will feel it immediately. people on variable rate mortgages such as trackers or discounted rates or indeed the standard variable rate will see they are mortgage payments rise. with tracker rates it tends to be almost instant, with standard variable or discount rates there can be a bit of a lag but it tends to be weeks rather than months. for someone with a £200,000 mortgage on a standard 25 year term repayment basis, 0.5% rise will cost them roughly an extra £50 per month. that is bad enough for those on variable rate mortgages but as andrew was
Good morning and welcome to your Morning Briefing for Thursday 31 March, 2022. To get this in your inbox every morning click here. BSPS compensation The Financial Conduct Authority has set out plans to deliver £71.2m of compensation to former British Steel Pension Scheme (BSPS) members who received unsuitable advice
as the biggest ever increase in the energy price cap comes into effect. you ve been sending in your questions about bills. here to answer is sarah pennells, who s the consumer finance specialist at royal london. and david garlousky is an energy expert who advises the general public on how to take steps to save on energy and cost at home and work. let us have a look at some of the questions we ve been getting. 0bviously questions we ve been getting. obviously it is an area of huge concern to lots of people. is there any compensation for customers of strong suppliers who have gone bust? we have been looking at these concerns about energy companies just going on during the last few days. yes, and i think it is worrying a lot of people in terms of what is going to happen, notjust to their future bills but also to any credit they have built up. so, there is no