Thursday, 30 April 2015
Wednesday, 29 April 2015
Beat Sky hikes, 3yr0%, remortgage warning, compare PMs, £10 off petrol, 40 eBay tricks, line & b'band £12/mth, free Ideal Home tix
|Cutting your costs, fighting your corner||Martin's Money Tips Wed 29 Apr 2015|
MARTIN'S QUICK BRIEFING: For more tips, alerts & awful puns, follow Martin on Twitter
The world downturn has a silver lining for existing mortgage holders as remortgage rates (where you switch mortgage to save) are rock-bottom. EVERYONE check now if they can save, as changes are afoot. This is most crucial for the four in 10 who pay the SVR (standard variable rate). These average 4.9% but can be 6%. Savings can be huge as MoneySavers have found...
Damian: "Followed your remortgage tips & formula; now pay £431/mth less."
Jan: "Thank you. Reduced payment by £600/mth and now paying that extra into mortgage so we'll be clear in 15 years, reduced from 20 years."
Sarah: "We saved £500/mth by remortgaging to a new 5yr fix. Saving £30K in 5 years. It was a painful experience but would recommend the pain."
Yet don't linger, as I explain below, it is far from certain the availability of cheap deals will be around in future times...
Blagged for MoneySavers
Did you miss?
Get constantly cheap energyOur club ensures you're always on the cheapest tariff.
Join free: Cheap Energy Club
Reclaim PPI for FREEClaims handlers aren't more successful.
Free help & templates: Reclaim PPI
|The Ones Not To Miss||Wed 29 Apr 2015|
| New. 3-YEAR 0% debt shift plus £15 cashback |
The top card just got better. Take advantage of a PRICE WAR to slash debt costs by £100s or even £1,000s
A balance transfer is where you get a new card that pays off old card(s) for you, so you now owe it at a lower rate. Therefore more of your repayments clear the actual debt, getting you debt-free far more quickly & cheaply.
BEAT Sky TV's price hikes. It's hiking prices for TV customers on 1 June by up to £54 a year. Yet we've a way for you to fight back that has already helped many get their prices reduced by more than the rise. See How to beat Sky's hikes.
20,000 FREE Ideal Home Show Manchester & Glasgow £12ish tickets code. For 22-25 May in Glasgow & 4-7 June in Manchester - 10,000 tix for each. Plus see Martin speak at the Manchester show. Free Ideal Home Show tix
The MSE Leaders' Debate: Energy, savings, inheritance, mortgages, student fees & more. We questioned Cameron, Miliband, Clegg, Sturgeon, Wood, Farage & Bennett. They often focus on the big things when we really want them to fix day-to-day problems. So we've held our own leaders' debate. Read & compare answers (and if you think they deliberately evaded the question - feel free to hold that against them). The MSE Leaders' Debate 2015
'I paid £1.71 for A YEAR's 2for1 cinema tickets' - manipulate Meerkat Movies. Since last week's guide we've been swamped with successes like that. Another's Fiona: "Amazing, I only paid £2.03. Thank you." See Meerkat Movies trick
Top cash ISA ends 5pm Wed. The top easy-access tax-free savings ISA, West Brom BS's 1.55% variable, is closing to new customers at 5pm Wed. For alternatives including Newcastle BS's 2.02% (only for regular savings), see Top Cash ISAs.
| New. Line rent AND broadband £12/mth (with BT, line rent alone's £17/mth) |
Save £100s a year on the cheapest SIMPLE deal in a long time. Just pay £12 each month for line rent and b'band
Cheap deals are often convoluted & complex, eg, pay a year upfront, voucher reclaims etc. This is simple, you pay £12/mth. So costing £144 over a year, it compares well to BT's standard line rent & b'band at £360/yr, or Virgin at £410.
Air Passenger Duty scrapped Fri for U12s - reclaim. Get £13-£97 per child if already paid. Reclaim APD
New cheapest energy fix PLUS free case of wine. Uswitch has launched a 'collective switch' - a special 12mth fix from E.on. For someone on typical dual fuel use it's £876/yr, next cheapest fix is £899, compared with £1,160 for someone on a big 6 standard tariff. Use our Uswitch wine* link and you get a code for 6 free bottles from Naked Wines (you don't get this going direct). Full info in Cheap Gas & Elec. PS: we don't include this in Cheap Energy Club as it's only avail via Uswitch. Yet Uswitch does give you a comparison; just ensure you select its 'show me the whole market' options.
£109 of Nails Inc polishes for £25 delivered. MSE Blagged. 10 full-sized 10ml polishes. 1,600 avail
Buy euros now at €1.39 in case election hurts pound? Read Martin's pound v euro election analysis.
SUCCESS OF THE WEEK: (Send us yours on this or any topic).
Tell friends about us. They can get this free every week.
| Show Best Buys |
Amex cardholder deals, incl £10 off £50 Shell petrol spend. Limited number, see all Amex deals.
Warning: You need a DVLA code to hire a car in UK or abroad. From 8 June, new rules mean if you're hiring a car, they may ask you for a DVLA code (to check endorsements, akin to paper licences). Ridiculously, once you request this online or by phone from the DVLA, it only lasts 72 hours, so time it right. See DVLA code help. Cheap Holiday Car Hire: Compare via Kayak*, Carrentals* & TravelSup* then slash insurance costs with cheap excess cover. See Cheap Car Hire.
DISCOUNTS: Homebase 15% off, Body Shop 40%, Bonmarché 20%, Poundland £2 off £12...
Last chance. £80 M&S voucher with cheap home insurance. MSE Blagged. Three insurers currently offer an £80 M&S voucher if you get their policies. The Age UK* (min age 50) & Together Mutual* deals end Thu, Policy Expert* on 6 May. Vouchers should arrive within 120 days from start date. Important: We're not saying they're cheapest, just worth checking against combined result of Gocomp*, MoneySup*, Direct Line*& Aviva*. Full info in Cheap Home Insurance guide.
| 40 eBay insider SELLING tricks - "I even got £20 for my false teeth." |
Do a spring clean, and if you don't use it, flog it. One (wo)man's rubbish is another (wo)man's treasure
If you've got it, either flaunt it or flog it. Walk round your home asking: "Have I used it in the last year?". If not, why not get rid? Our 40+ eBay Selling Tricks also helps you sell anything. Even your broken old lawnmower may contain key parts someone else needs. Forumite Leezed also told us: "I sold my false teeth, got £20." See things you never thought'd sell.
£85 Wild About Beauty box £20 delivered. MSE Blagged. Incl bronzer, eyeshadow & blusher. 1,000 avail
THREE Audiobooks £3, eg, Gone Girl & The Girl on the Train. MSE Blagged. This is a 3-mth Audible newbies' trial at 99p/mth. It's £8/mth after, but you can cancel after the 3 months and keep the books. Ends Thu. Audible Deals
3mths Now TV (Sky's streaming service) £10 (norm £21). MSE Blagged. Newbies get box sets, eg, Game of Thrones & channels such as Sky Atlantic (not films) on a 3-mth Entertainment Pass*. Cancel after or it's £6.99/mth. Now TV
Show Best Buys
|Show Vouchers and Top Deals|
|The Moneysaving community|
|Show Money Saving Community|
Does your charity want an MSE charity grant for consumer/finance projects? The latest funding round for charities and groups involved with financial and consumer education projects opens on 1 May. Only the first 40 applications that meet the criteria will be considered. See full criteria: The MSE Charity. Related: MSE's Charity Fund, How This Site's Financed
MONEY MORAL DILEMMA
THE GREAT HUNT
CHEAP FLIGHT SALES ALERT
Quick forum tips
Freebie of the week
Martin's appearances (from Wed 29 Apr onward)
MSE team corner
Regular team appearances:
Fri 1 May
Discussion of the week
The countdown to your next trip is probably a common theme when you've returned from holiday. Share your next destination plans in the Holiday withdrawal symptons discussion.
Cheap travel money
This week's poll: Do you feel better off now than five years ago?
A simple question - how do you feel about your finances now compared to the time of the last General Election?
Would you buy shares in a Lloyds Bank sell-off?
11,841 voted. See the full results.
Question of the week
Q: I'm a couple of years into my mortgage. I've paid more than £35,000, but my debt has only come down by a few £1,000s. I know there's interest, but why have I not made much inroad into the actual debt? Deirdre, via email.
MSE Guy's A: On a repayment mortgage, in most cases at the start, your lender calculates a monthly payment for you that’s the same for every month of that introductory offer period (eg, 2 years on a 2-year fix). It then calculates the remaining payments which are the same for all remaining months of the full term (eg, 25 years).
In the early years, your outstanding debt is larger so there's more interest charged, so more of your monthly repayments go towards paying the interest. As the debt reduces, so too does the interest charged, and as you pay the same each month it means more of your repayment goes towards paying off the debt.
Look at this example. On a 25 year, £150,000 mortgage at 3%, you pay about £710/mth (so £8,520/yr). In the first year your debt only reduces by just over £4,000, but in year 10 it falls by about £5,400, while in year 20 it falls by about £7,200. See our Ultimate Mortgage Calculator for how much a mortgage costs and how the interest is paid off over the term.
Please suggest a question of the week (we can't reply to individual emails).
|Nick's free game of the week: Balls in Space|
Have you saved this week - why not donate some of it to Nepal?
That's it for this week, and as always, we hope you've saved a fortune. Yet with a tragedy of mammoth proportions going on in the world, we thought perhaps if you have saved this week you could donate 5% - 10% of the saving to the Nepal Earthquake Disasters Emergency Committee website. Up to you, though (do always remember to tick the Gift Aid box if you're a UK taxpayer).
Martin & the MSE team
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