bills

HOUSEHOLDS across the country are being warned to brace for a financial squeeze as the cost of government borrowing skyrockets to levels not seen since 1998.

This now directly threatens to push up mortgage rates and could usher in a new wave of tax hikes.

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The pound has tumbled in response to the growing unease, highlighting investor concern over the UK’s economic stability. 

At the heart of the issue are government bonds, known as “gilts,” which the government issues to borrow money.

These bonds offer investors a return, referred to as the “yield.”

In recent weeks, gilt yields have been rising rapidly, making it more expensive for the government to borrow.

This morning, yields soared further, with 30-year gilts reaching 5.72% – the highest level in nearly 30 years – while 10-year gilts climbed to 4.85%.

This spike signals that investors are nervous.

They are demanding a higher return to lend to the UK, worried about stubborn inflation and a gaping £51billion hole in the nation’s finances.

The rise in government borrowing costs is putting serious pressure on household budgets in two key ways

Firstly, it’s driving up mortgage rates.

The link between government gilt yields and mortgage rates is direct and unavoidable.

Lenders use “swap rates,” which closely track gilt yields, to set the prices of fixed-rate mortgage deals.

As these rates climb, fixed mortgages become more expensive.

Since August 1, two-year swaps have risen from 3.56% to 3.74%, while five-year swaps have gone from 3.63% to 3.83%.

Major lenders like Barclays have already started increasing rates, and even a small rise can add significantly to monthly payments on a typical £200,000 mortgage.

With swap rates continuing to rise in recent weeks, experts warn that mortgage rates are likely to increase further.

Separately, Chancellor Rachel Reeves faces a difficult challenge in her Autumn Budget, scheduled for November.

Higher borrowing costs are eating into public funds, and many economists believe tax increases will be necessary to fill the financial gap.

Although the government has promised not to raise income tax, national insurance, or VAT for “working people,” other tax measures are reportedly being considered.

One proposal is applying National Insurance to rental income, which critics fear could result in landlords passing on the cost to tenants through higher rents.

Another idea being debated is replacing stamp duty with an annual property tax, which could affect homeowners.

There are also rumours of reducing pension tax relief or cutting the tax-free lump sum, moves that could generate billions but might hurt savers.

Plus, there’s speculation about lowering the VAT threshold, which would bring more small businesses into the tax system.

This could increase their costs and potentially lead to higher prices for consumers.

Reeves is expected to make economic growth the centrepiece of her next Budget, warning that Britain’s economy is “stuck” and in need of bold solutions.

What can you do about it?

None of the proposed changes have been confirmed yet, and the government hasn’t ruled them out either.

However, any new measures won’t take effect until after the Budget in November.

It’s important not to make rash decisions based on speculation.

If changes are announced, you’ll have time to act and protect your finances before they come into effect.

For instance, if stamp duty is replaced by an annual property tax from a certain date, you could move house before the deadline to avoid the extra cost.

Similarly, if the government introduces capital gains tax on high-value properties, you might consider downsizing to a smaller home before the change is implemented.

 Rob Morgan, chief analyst at Charles Stanley, said: “Taking pre-emptive action can outright backfire.

“Last year some people were concerned about restrictions around taking tax free cash from pension and took withdrawals they wouldn’t have otherwise made.

“This removed the money from a tax-efficient environment and potentially stored up tax issues that will come back to haunt them.

“Instead, it’s best to wait to see what happens, consider the consequences, and take advice as required before acting.”

Most of the proposed measures are likely to affect only the very wealthy, so you may not be impacted at all.

If you’re concerned, there are steps you can take to prepare and safeguard your finances.

Check your financial health

If you are worried about your finances then you should speak to a financial adviser.

They will be able to offer you advice about your situation and explain if any of the measures will affect you.

You can find one using unbiased.co.uk – but remember, you will pay a fee.

It’s good practice to sit down and take stock of your finances every six months and work out a plan.

Work out all your bills and outgoings and what income you have and factor in any changes, such as bills going up or new income streams.

Think about what you need to do to make the most of your money. For example, do you need to prioritise paying off debts or saving for a house deposit.

Our guide to paying less tax legally could help you avoid giving away more cash to the tax man than necessary.

Review your mortgage deal

If your mortgage deal is coming to an end soon, act now.

Locking in a fixed rate could shield you from rising rates and market uncertainty.

Aaron Strutt, of mortgage broker Trinity Financial, said “For the moment there have not been significant price hikes but it’s probably worth locking in a mortgage rate if you are buying somewhere or due to remortgage, to try and keep away from any market turbulence.”

If you are coming to the end of a fixed deal, most lenders let you lock in a new rate up to six months beforehand, which can be worth doing.

If rates fall after you agree a new deal, some lenders will let you sign a new one at a lower rate.

Think when investing

Gold prices surged to a record high of $3,546.99 per ounce (£2,643.82) on Wednesday, marking its seventh consecutive daily rise.

Investors are flocking to the precious metal as a safe haven amid inflation fears and fiscal uncertainty.

However, financial advisers suggest maintaining a balanced and diverse investment portfolio as a better strategy for managing market volatility.

A small allocation to gold (5-10%) can be useful, but it shouldn’t be the core of your investment plan, according to Charles Stanley.

Don’t forget a will

If you’re concerned about potential changes to inheritance tax, it’s essential to have a will in place.

Without a will, your estate will be subject to intestacy rules, which could result in a higher inheritance tax bill.

This is especially important for unmarried couples, as they won’t automatically inherit from each other, even if they’ve lived together for years.

Check how to make one in our guide.

Make your savings work harder

More than 31million bank customers have £186billion in savings accounts earning just 1.5% interest, according to banking app Spring.

These accounts generate £2.3billion a year in interest, but savers could earn over three times more by switching to accounts offering up to 5% interest, The Sun can reveal.

The average bank customer has around £10,000 in savings, according to Raisin.

If that £10,000 is kept in an easy access account earning 1.5% interest, it would generate just £150 in interest each year.

But switching to Cahoot’s 5% easy access account would boost that to £500, earning you an extra £350.

If your savings account pays less than the current inflation rate of 3.8%, it’s time to look for a better deal.

A COUPLE are selling their £600k home in a raffle – with tickets costing just TWO pounds.

Aily Chalmers, 32, and her husband, Nathan, 35, say they were forced into the unusual decision because of the “disastrous” housing market.

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They initially put their four-bed detached home near Aylesbury Vale, Buckinghamshire, on the market, but were instantly put off.

The couple were told by their estate agent that they would have to cut the price, with a potential 18-month wait to make a sale.

Instead, they are selling 450,000 raffle tickets, with the winner set to receive the house free from stamp duty and fees.

Speaking on their “mad” venture, website designer Aily said: “We never thought we’d be doing something like this.

“But we want to move closer to family and just thought, ‘go for it.’

“All you can do is try in these situations and the house is basically just going to be given away.

“All stamp duty and other fees will be paid, and the winner won’t have to pay anything other than £2 for the ticket.

“The market is awful at the moment, and we’re looking to move ASAP.

“It sounds mad, but it’s a win-win for us and someone who gets to live in a four-bed house for £2.”

The home has three bathrooms, a study, a snug and an open-plan dining room-lounge.

Aily and Nathan moved into the then-new build seven years ago.

But when the pair’s fourth child was born, they decided they wanted to move closer to family in Hampshire for support.

The mum-of-four continued: “Nathan and I have been discussing moving out since last year.

“We looked into selling the house the traditional way.

“Our house is perfect at the moment and our budget is the same.

“The only downside of being here is that we have to drive miles and miles if we want to see our family.

“It sounds mad, but we’re really hoping we can pull it off.

“We had lots of Zoom calls with the company hosting the raffle, to iron out the legalities of it all and now the competition is live.”

The pair have already sold one per cent of tickets in a matter of days, raising £6,000.

Both her and Nathan are hoping to raise an extra £20,000 in spending money to cover additional costs.

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It comes as Chancellor Rachel Reeves is said to be considering a new tax on the sale of houses over £500,000.

But critics say the measures could weaken the property market by discouraging homeowners from downsizing and selling.

The proposed legislation would be part of a wider overhaul to stamp duty and council tax.

Slamming the proposed changes, Aily accused the Government of “punishing people who own property”.

She added: “I feel like it’s the whole property market at the moment.

“The government putting in all this new legislation just to get more money off people and sort of punishing people who own property.

“We couldn’t afford to keep this home mortgage when our mortgage rate doubled a couple of years ago.

“It’s terrible. I don’t know how some people are surviving. A lot more people are wanting to just rent.”

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IF you’re wondering where your money’s going each month, it might not be big bills or bad luck to blame but small, repeated mistakes that add up fast.

From letting your savings sit in low-interest accounts, to underestimating the real cost of long mortgage terms, financial experts warn that common habits could be quietly emptying your bank accounts.

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We asked money experts and behavioural scientists to reveal the biggest habits that are holding people back.

1. Not knowing what’s coming in and going out

It’s hard to feel in control of your money when you don’t know where it’s actually going.

Many people assume they have a rough idea, but the reality is that forgotten subscriptions, auto-renewing services and small daily purchases quickly add up.

Without visibility, your budget can slowly unravel, and by the time you realise, you’ve slipped into the red.

Vix Leyton, consumer expert at Thinkmoney, says the fix starts with routine: “Take time to know what your outgoings are and what is coming in.

“Some apps, like Thinkmoney, offer a snapshot of what you’re spending, and can even ringfence bill money for you so you don’t accidentally end up facing penalties and late fees.”

Even a five-minute weekly check-in can help avoid nasty surprises and highlight where cutbacks are needed.

2. Living without a savings buffer

It’s hard to save money – but not having a buffer can leave you exposed to high credit when you need cash quickly.

Whether it’s a broken boiler, a car that won’t start or a sudden cut in hours at work, not having a cushion means falling back on credit cards or payday loans just to stay afloat.

The result is a constant feeling of stress, and a budget that can be thrown off by the smallest shock.

Thomas Mathar, behavioural researcher and host of The Money:Mindshift Podcast, says a little slack goes a long way.

He said: “Even a modest buffer, like one month’s rent, can give you the breathing space to make better decisions and avoid high-cost debt.

“It’s not just about the numbers, it’s about having mental and financial slack when life throws you a curveball.”

3. Letting debt pile up month after month

More and more people have credit card debt, which means it can be easy to think it’s business as usual, especially when the minimum payments are low.

But ultimately, you’re paying interest to the bank instead of putting that money toward your own goals. Over time, that can add up to hundreds or even thousands of pounds in lost savings.

“Too many people accept credit card debt as a normal state of affairs. It’s not,” says Mathar.

“Paying down high-interest debt quickly is one of the most powerful things you can do for your long-term well being. It’s buying yourself back freedom, and peace of mind.”

If you’re juggling multiple debts, focus on the most expensive ones first and look into 0% balance transfer options if your credit score allows.

4. Having psychological armour to support you

In the age of side hustles and flashy online success stories, it’s tempting to ditch steady work for riskier pursuits.

But without a reliable income it’s hard to build long-term security.

Inconsistent earnings often mean falling behind on bills, using credit to bridge the gap, and struggling to plan ahead.

Mathar warns that it’s important to have some sort of regular income, even if you’re pursuing other hustles on the side.

He says: “A steady income isn’t just about covering bills, it’s psychological armour.

“When you’re living month-to-month or under-earning compared to your potential, the stress compounds.

“You don’t need to chase big money, but you do need income that’s ‘good enough’ to support a resilient, happy life.”

5. Leaving savings in a dead-end account

You might feel good about putting money aside, but if it’s sitting in an easy-access account earning barely any interest, your savings are losing value in real terms.

With inflation still high, the cost of leaving cash in low-yield accounts is higher than many realise.

Adam French, head of news at Moneyfactscompare.co.uk, says this mistake is all too common.

Adam said: “The likes of HSBC, Lloyds Bank, Santander, NatWest and Barclays all have easy access accounts paying around 1.1 to 1.2 per cent interest, far below the typical returns savers could expect, which is currently 3.51 per cent.”

The top performing options can pay even more, and shopping around and switching accounts only takes a few minutes online.

6. Not making the most of your ISA allowance

More savers than ever are being hit with tax bills they could have avoided.

Frozen tax thresholds mean that even modest savers can end up over the personal savings allowance, paying tax on any interest they earn.

That means, if you’re not using your ISA allowance, you’re potentially giving money away for free.

French explains: “Saving and investing are some of the best ways to build wealth over time.

“But it’s important that savers are aware of their tax liability on any profits they make – which can add up over the course of a few years.

Plenty of savers can avoid this tax bill by making use their yearly ISA allowances.

You can save or invest up to £20,000 a year tax-free, and every pound sheltered from tax is a pound that keeps working for you.

7. Only saving for retirement, and nothing else

Putting money into a pension is smart, but it shouldn’t be your only savings plan.

Many people now take career breaks, retrain, care for relatives or start businesses, and those transitions need funding too.

Mathar says ignoring this reality can leave people exposed.

“We don’t live three-stage lives anymore – education, work, retirement… A ‘transition fund’ – even just a few months’ salary – makes those big life pivots possible without financial panic.”

8. Being too harsh on yourself when things go wrong

Money mistakes happen. But too often, people fall into a cycle of guilt and avoidance, especially if they’re already struggling.

That mindset can stop you from facing your finances or reaching out for help, which only makes things worse in the long run.

Mathar believes the solution starts with self-empathy. “Here’s the truth: we’re all a bit messed up when it comes to money.

Our brains are wired for short-term wins, not long-term planning.

The goal isn’t to be perfect with money; it’s to build enough slack, mental and financial, so that one mistake or setback doesn’t knock you flat.”

9. Not overpaying your mortgage when you could

With mortgage rates still high and household budgets under pressure, many borrowers are choosing longer terms to keep monthly payments manageable.

But unless you’re also making overpayments, that strategy can come at a serious long-term cost.

French says small changes now can lead to huge savings later: “Overpaying by £200 per month on that same £250,000 40-year mortgage could shave almost 13 years off the mortgage term, saving them around £123,000 in interest payments.

“This is all without being tied to having to consistently make higher payments every single month – boosting the flexibility of their budget and their financial resilience.”

Most lenders allow up to 10 per cent overpayment each year.

Even £50 a month can help you become mortgage-free sooner and pay far less in interest overall.

HOUSEHOLDS on Universal Credit should be aware of one-off payments worth hundreds that could help cover emergency costs.

A budgeting advance is a type of payment given to those claiming the benefit to help with paying for items such as a broken cooker.

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The advance is interest free, so you only have to pay back what you borrow. Usually you will be expected to pay the money back within 24 months.

You can apply for a budgeting advance to cover things like:

• A one-off item – for example, replacing a broken fridge
• Work-related expenses – for example, buying uniforms or tools
• Unexpected expenses
• Repairs to your home
• Travel expenses
• Maternity expenses
• Funeral expenses
• Moving costs or rent deposit
• Essential items, like clothes

How much you can get depends on a number of factors, with the lowest you can borrow £100. 

Meanwhile, single people could get up to £348, while those who live with a partner could get up to £464.

The highest reward is only eligible for people with children and that is worth £812.

But it is not always guaranteed that you will be accepted for the payment.

Firstly, you must have been claiming Universal Credit, Employment and Support Allowance, Income Support, Jobseeker’s Allowance or State Pension Credit for six months or more.

There is an exception if you need the money to help start a new job or stay in employment.

You will not be eligible either if you have earned more than £2,600 in the past six months or £3,600 if you are in a couple.

You will also not qualify if you have not paid off any previous advance loans, as you can only have one at a time.

You can apply for a budgeting advance by calling the Universal Credit helpline on 0800 328 5644.

An advisor will then asses you can pay the loan back – they’ll see if you have any debts and how much you owe to help work this out.

The phone lines are open Monday to Friday, 8am to 6pm, and you’ll normally get a decision on the same day.

Alternatively, you can apply through your online account or speak to your Jobcentre Plus work coach.

Paying the advance back

You have to pay any money you were given back, but you will not be charged interest.

The money will be taken out of your Universal Credit payments, and you will pay it back over two years, starting from your next payment.

So for example, if you get an advance of £240 and you pay this back over 24 months, £10 will be taken out of your payment each month until this is paid back.

If you cannot afford your advance repayments, you can ask for the amount you pay to be lowered.

You can call the Universal Credit helpline or contact the Jobcentre helpline.

Do you have a money problem that needs sorting? Get in touch by emailing [email protected].

You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group members.

HUNDREDS of thousands of Brits could be hit by a surprise £500 tax bill as a new rule comes into effect. 

The new scheme could affect nearly 900,000 business owners across the UK. 

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The Government’s new Making Tax Digital scheme will require people over a certain income threshold to keep electronic records and file updates every financial quarter.

The move is part of the Government’s efforts to crack down on tax fraud, which cost Britain £12.4 billion from 2021 to 2022.

However, financial advisors have warned that the cost of reporting your tax figures could cost up to £500 a year once staff training, software and admin time are factored in – according to George Holmes, managing director of Aurora Capital. 

Only people who earn £50,000 from self-employment or from rental properties will be subject to the new rules.

Ahead of the change, Craig Ogilvie, director of Making Tax Digital at HMRC, said: “With April 2026 on the horizon, we are issuing letters to customers we believe will be mandated, outlining specific requirements and timelines.”

He added: “We urge those who meet the mandate criteria to join our testing programme on GOV.UK now to help shape the final service and make your transition smoother.”

An estimated 864,000 sole traders and landlords will need to comply with the new rules.

James Murray MP, Exchequer Secretary to the Treasury, said: “MTD for Income Tax is an essential part of our plan to transform the UK’s tax system into one that supports economic growth.”

Murray added: “By modernising how people manage their tax, we’re helping businesses work more efficiently and productively while ensuring everyone pays their fair share.”

The news comes after experts warned Rachel Reeves that she would have to find £50 billion to plug a black hole in Britain’s finances. 

The Chancellor has remained committed to her fiscal rules, which requires the UK to have financial cushion of £9.9billion by the end of the decade.

In order to put the UK’s finances on a firm footing, experts from the National Institute of Economic and Social Research have said that Ms Reeves will have to raise taxes.

Prof Stephen Millard, from the institute, said: “We would advocate building a bigger buffer. 

“To do that requires moderate but sustained increases in taxes.”

The think tank also upped its growth forecast for this year to 1.3 per cent but knocked their prediction for 2026 down to 1.2 per cent from 1.5 per cent.

Meanwhile, tax refund letters have started landing on doorsteps across the UK but Brits have been warned to watch out for scams.

A Freedom of Information (FOI) request by The Sun found that HMRC refunded a staggering £8.3billion in overpaid tax from 2022 until 2023 — with the average worker pocketing £943.

However, any letter or email which requires you to give your credit card details, transfer money or click a link should be avoided at all costs. 

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BRITAIN’S top restaurant chains have seen profits soar by almost a fifth after replacing staff with ­self-service tills and apps.

They hit £365million at the top 100 groups this year, up from £308million in 2024.

Accountancy group UHY Hacker Young also found that turnover was up 19 per cent to £12.9billion, from £10.8billion.

It said growth had been particularly strong for the fast food and casual dining sector, with burger and steakhouse chains enjoying some of the largest turnover increases.

UHY Hacker Young partner Martin Jones said chains had been investing in technology such as touchscreen tills in fast-food outlets.

Many had also upgraded menu offerings to increase prices, as a way of boosting earnings.

He said: “While many chains are still suffering from depressed margins and weak demand, there’s enough innovation and expansion to deliver better results.”

Hospitality has been particularly hard-hit by the increase in employers’ National Insurance.

Half of all job losses since the Budget have been in that sector, according to ­analysis of data from the Office for National Statistics by UKHospitality.

It means one in every 25 jobs in pubs, hotels, cafes, restaurants and bars has been axed.

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T&C’s ARE KAFKA-ESQUE

BANKS and insurance firms need to stop writing terms and conditions that are “longer than some classic novels”, campaigners urge.

Policies on travel insurance and investment products are the worst, clocking in at 26,000 words — around the same length as Franz Kafka’s Metamorphosis, analysis by Fairer Finance claims.

It comes despite the financial regulator in 2023 introducing rules forcing firms to prove that customers understand such documents.

Fairer Finance said the longer the documents were, the less likely customers were to know what they mean — or to engage with them at all.

Managing director James Daley added: “The grace period is now over, and we expect the regulator to start holding companies to account.”

ENERGY CRISIS

HOUSEHOLDS cannot afford more energy price hikes, the regulator has been warned.

More than 12 million people are struggling to pay already — but Ofgem is expected to announce tomorrow a rise in the energy price cap to £1,737 from October.

Commenting on the research from York University, Simon Francis of the End Fuel Poverty Coalition, said: “The time for tinkering with the price cap is over.”

RENT CONS UP

RENTERS have been warned to watch out for fake landlord scams after crooks made £20million from them last year.

The average victim lost £4,711, Action Fraud said. The total haul was up by 45 per cent on the previous year.

Richard Daniels, of TSB, said: “Scammers prey on a competitive rental market with too-good-to-be-true listings that trick house- hunters into making advanced payments.”

A SUPERMARKET giant has made a huge change to its shops, in a boost for customers who want to pay with cash.

Morrisons has introduced 40 cash machines into its supermarkets across the UK, making it the UK’s largest non-bank network.

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A further 13 ATMs are set to launch in the coming months to make it even easier for customers to access cash.

Shoppers can use the ATMs to withdraw and pay in money as part of their regular shop.

The ATMs are now available in the following Morrisons supermarkets:

• Acocks Green
• Speke
• Eccles
• Witham
• Aldershot
• Swadlincote
• Failsworth
• Blyth
• Bideford
• Swinnow Road
• Grays Buxton
• Bishop Auckland
• Wednesbury
• Hull (Holderness Road)
• Colwyn Bay
• Bromsgrove
• Kirkby
• Ilkeston
• Dover
• Cardonald
• Bellshill
• Leyland
• Letchworth
• Carmarthen
• Castle Bromwich
• Malton Nelson
• Chippenham
• Coalville
• Oswestry
• Redcar
• Crossmyloof
• Hyde
• Partick
• Oxted
• Ebbw Vale
• Sidcup
• Small Heath
• New Milton

So far, more than £1million a month has been paid into banks using these ATMs.

The machines are operated by NoteMachine and were delivered thanks to a partnership with Cash Access UK, a company funded by major high street banks to bring cash services to communities.

Ben Mildred, treasury manager at Morrisons, said: “We’re proud to be helping make banking more accessible by offering cash deposit services in our stores.

“Customers have told us they like the flexibility and convenience the cash deposit ATMs offer and so we are pleased to be rolling them out to more stores in the coming weeks.”

The news comes after UK banks closed more than a third of branches over the past five years, leaving customers without access to banking services.

Lloyds, Halifax, NatWest and Bank of Scotland are set to shut more than 100 bank branches by the end of the year.

Elsewhere, Santander is set to close 95 branches and reduce hours at another 50.

Other ways you can access cash

There are still several ways you can access basic banking services without having to travel to another town with a branch.

If all the banks in your town have closed then you may be able to get a banking hub.

Banks visit the hub on a rotating basis, and take it in turns to use the site on different days of the week.

You can use them to withdraw cash, pay in money, check your balance and pay bills.

Another option is to visit one of the Post Office’s 11,684 branches to do basic banking tasks such as paying in or withdrawing cash.

But you will still need to visit a branch to open a new bank account, take out a personal loan or mortgage.

You can find your nearest Post Office by visiting postoffice.co.uk/branch-finder.

Many banks also offer a mobile banking service, which is when they bring a bus to your area to provide services you can usually get at a physical branch.

Other banks use buildings such as village halls or libraries to offer mobile banking services.

You should check your bank’s website to see what mobile services are available and when they might next be in your area.

New super ATMs are being rolled out across the UK where branch closures have left residents unable to access essential banking services.

These ATMs will allow customers to withdraw funds, access their balance, change PIN numbers and deposit cash.

Do you have a money problem that needs sorting? Get in touch by emailing [email protected].

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

THERE is a way you can possibly prevent mould & condensation this autumn.

Lidl has released a gadget for under £5 which is absolutely essential when when drying your wet clothes indoors.

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Costing just £4.99, the budget supermarket has released a pack of thermometers and hygrometers.

The set of three items is meant to be used to monitor indoor climate so you can prevent mould taking hold.

The hygrometer takes a measurement of the indoor humidity and it also comes with a display for comfort level.

Three steps are shown on the screen indicated by a smiley face, which are dry, comfortable and high humidity.

This is measured in percentages from 10% all the way to 99% with a temperature range of -10°C to 50°C.

How easy is it to use?

Lidl has advertised the product as being very easy and convenient to use, perfect for your wet washing.

The gadget can be mounted on a wall or it can be freestanding in any utility room.

There is also a magnetic attachment and a foldable stand for extra benefit and ease.

Batteries and instructions are included with the product which also has a three-year warranty period.

Cheaper than Screwfix

In comparison, Screwfix has released its own version at a much higher price point.

At a price of £16.99, a gadget from brand Forge Steel measures temperatures in both Celsius and Fahrenheit.

It is advertised as providing an accurate and rapid response and is pocket sized.

The easy-to-read digital display screen will display the temperature and humidity levels.

It does have the same temperature range of -10 to 50°C but it has a smaller humidity range of 20-99%

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THERE are loads of ways for Brits to use apps to slash bills this summer.

You can easily find the cheapest prices for food, petrol, flights and parking. If you use them regularly, you could easily save hundreds a year.

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CHEAPER PETROL

One great option for drivers is the PetrolPrices.

The name is the giveaway here. This app is designed to help you find the cheapest petrol prices in the area.

You can see the locations on a map, or find them as a list sorted by lowest price, distance, and even brands.

Site owners can upload their own prices, and users can report the fuel costs too.

It means you don’t have to drive around looking for the cheap prices – or face a price shock at the pump.

Another handy tip is using the Google Maps fuel efficiency feature.

Turn it on by going into Google Maps > Profile > Settings > Navigation > Route Options > Prefer Fuel-Efficient Routes.

“Google Maps can estimate fuel or energy efficiency for different vehicle types, including electric and combustion engine cars, as well as petrol motorcycles,” Google explained.

“The more fuel or energy efficient the route, the lower your vehicle’s fuel or energy usage.”

You should also tell Google your engine type in Google Maps > Profile > Settings > Your Vehicle.

That can give you even better fuel-efficiency.

“The most fuel or energy-efficient route can be different based on the engine type,” Google said.

“For example, diesel vehicles’ relative fuel economy advantage is generally greatest in motorway driving.

“Hybrid and electric vehicles tend to provide greater efficiency in stop-start town and hill driving where they can benefit from regenerative braking.”

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FOOD PRICES

For food savings, you’ll want to first take a look at Trolley.

It lets you compare prices for groceries across supermarkets, with a long list of stores including:

• Asda
• Sainsburys
• Aldi
• Home Bargains
• Morrisons
• Tesco
• Boots
• Wilko
• Coop
• Waitrose
• Superdrug
• B&M
• Ocado
• Iceland
• Savers
• Poundland

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The app says it’ll save you up to 30% on a weekly shop, but your own success will vary depending on what you buy and how much you spend.

Another option – recently tested by The Sun’s tech desk – is to use the Google Gemini chatbot.

You can use it to plan your food shop by asking the bot to find the cheapest prices.

It’s also worth noting that you can bag cheap or free food by picking up leftovers or stuff that would be otherwise thrown away.

Two apps – Olio and Too Good To Go – are packed with food bargains.

And if you want free food, Sky customers can bag a weekly treat from the Sainsbury’s Taste the Difference range through the MySky app.

Just go to the Sky VIP panel (which is free to join) to claim your freebie.

We’ve seen ice lollies and pizzas so far, but there’s a new option every week.

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FLIGHT COMPARISONS

There’s no denying that Skyscanner is a brilliant option for finding cheap flights.

But you should also take a look at Google Flights, which has some clever tricks.

For a start, when you’re searching for flights, it can show you the cheapest window to book.

“For example, these insights could tell you that the cheapest time to book similar trips is usually two months before departure, and you’re currently in that sweet spot,” Google said.

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“Or you might learn that prices have usually dropped closer to takeoff, so you decide to wait before booking. Either way, you can make that decision with a greater sense of confidence.”

You can also turn on price tracking for specific dates (like if you’re off to a wedding) or for any dates (if you just want a holiday at some point soon).

This feature will only appear if you’re signed in to your Google account.

And right now, Google Flights is getting an upgrade with the Flights Deal feature.

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It’s currently only in the US, Canada, and India – but it looks likely to land in the UK eventually too.

The feature works using AI with Google saying it’s “for flexible travellers whose number one goal is saving money“.

“Instead of playing with different dates, destinations and filters to uncover the best deals, you can just describe when, where and how you’d like to travel — as though you’re talking to a friend — and Flight Deals will take care of the rest,” Google said.

For example, you could search for a “week-long trip this winter to a city with great food, nonstop only”, Google revealed.

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Then it’ll use Google Fights data to show you the latest options from loads of airlines.

CHEAP PARKING

Lastly, make sure you’re not overpaying on parking.

There’s a great app called JustPark, which you might be familiar with as a way to pay at some car parks.

But it also lets people rent out their driveways, which means you can bag some great bargains.

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We tried it out earlier this year and found £6 for all-day parking in London on a weekday.

You can book them far in advance, and even add on insurance that covers the excess if your car ends up getting damaged.

You can easily check and amend (or cancel) your driveway parking through the app from anywhere. So you could add extra time if you’re running late.

And it’s potentially a great way to bag a bargain for sports fixtures by getting near-stadium parking.

You could also turn it into a side-hustle by renting out your own parking space.

So you wouldn’t just be saving money, but making some quick cash too.

Aug. 22 (UPI) — California Gov. Gavin Newsom has signed a package of legislation, kicking off the Golden State’s redistricting drive, as the Democrat retaliates against Texas, which just passed new congressional maps that favor the Republicans.

Newsom signed the three bills, known together as the Election Rigging Response legislative package, Thursday shortly after they swiftly passed both the State Assembly and Senate.

The package allows California to adopt new congressional maps, which must first be voted on by the public in November.

It is the latest move in what appears to be a growing redistricting arms race ahead of next year’s midterm elections that was kicked off by Texas, which, under pressure of President Donald Trump, passed new congressional maps on Wednesday that are expected to give Republicans five additional seats in the U.S. House of Representatives.

Congressional maps are generally redrawn once a decade based on new Census Bureau data, with the next census scheduled for 2030. Democrats are accusing Texas Republicans of redrawing their maps to help ensure the GOP maintains its control of the House in the upcoming midterm elections. Republicans currently hold a narrow majority in the congressional chamber.

Newsom, who is seen as a potential presidential candidate in 2028, has been among the most vocal critics and vowed to redraw California’s maps to neutralize those seats to be gained in Texas. Other states on both sides of the political aisle have suggested they are considering doing the same.

“Don’t poke the bear,” Newsom said on X following the signing.

On Wednesday, the state Supreme Court rejected a Republican challenge to Newsom’s plan to redraw the state’s congressional maps.

A DAD has revealed how a five-minute money hack slashed more than £1,000 off his household bills and paid for his dream holiday.

Like millions of Brits, Rob Lock, 29, from Shrewsbury, had been paying his monthly bills without giving them a second thought.

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His broadband, mobile and energy costs were ticking along on autopilot, even though some of his contracts had quietly expired.

But when he landed a new job, a perk from his employer gave him access to Nous, a bill-cutting service that uses AI to find cheaper deals.

Within minutes, the tool flagged up where he was overspending and with a few simple switches, Rob saved £1,029 a year.

The biggest saving came from his mobile phone contract.

Rob had paid off his iPhone and Apple Watch months earlier, but was still being charged the full monthly rate, which is a common trap known as “double paying”.

By switching to a SIM-only plan, he slashed £750 off his yearly bill.

His broadband was another eye-opener.

Rob had originally signed up to BT on a new customer deal costing around £50 a month.

But when that deal expired, the cost crept up, without him realising. Nous found a Virgin Media package for £22 a month with the same speeds, saving him another £336 a year.

Finally, he cut his energy bill down to £126 a month, adding to the overall total.

He explained: “I was using the BT broadband until Nous told me that they had found a cheaper rate for me with Virgin Media. 

“They had even checked the connection and download speeds to make sure I wasn’t going to lose out just for a better price. 

“The deal with Virgin was only £22 a month which is a massive saving when compared to the £50 odd I was paying to BT.”

Once he realised he had saved over £1,000, Rob knew exactly how to spend it.

“We booked a trip to Iceland to see the Northern Lights – something we’ve always dreamed of. It really was the holiday of a lifetime.”

“We just thought it’s not every day that you’ll save over a grand so might as well use it for something we really want.”

Rob admitted he used to be “a bit laid-back” about bills, but says the experience has transformed how he manages his money.

He added: “I never really analysed whether I was getting a good deal or not.

“I actually wish that Nous had come into my life sooner as they’re brilliant at monitoring everything and continually checking to ensure you’re getting the best deal.

“It’s very relaxed and Nous give some really sound financial advice on what you can save by switching and when.”

Costly mistakes

Consumer reporter, Lucy Andrews, has warned that thousands of households are making the same mistakes without even realising.

She said: “Think you’re good with money? I bet you’re making some silly mistakes that could be costing you hundreds – just like I did.”

Lucy explained that she too had fallen into the “double paying” trap after forgetting that her 24-month mobile contract had ended.

“I logged into my mobile app and saw loads of upgrade offers,” she said.

“I thought it was weird, because I was still in contract, but when I checked, my deal had actually ended a month earlier.”

She had missed an email warning her that the contract was ending.

As a result, she was still paying £34.58 a month, even though the handset was already paid off.

“I was kicking myself,” she said.

I could have switched to a SIM-only deal and saved a fortune.”

After acting quickly, she moved to a £7 SIM-only plan, saving £27.58 a month or £330.96 a year.

According to Uswitch, five million mobile customers are at risk of overpaying like this, with providers pocketing an extra £1.6 billion a year as a result.

To check if you’re one of them, simply text INFO to 85075. This free service will tell you whether you’re still in contract, and if you’ll face an exit fee.

Lucy also discovered she was paying £4.99 a month for a streaming subscription she’d forgotten about, which was a reality TV channel she hadn’t used in months.

“That was £15 down the drain,” she said. “I cancelled it straight away and saved another £60 a year.”

She now recommends doing a “direct debit spring clean” twice a year, by checking your bank app for forgotten subscriptions.

Research by HSBC found that 48% of people admit to paying for services longer than they should, wasting £61 a year on average.

Lucy said: “These things are easy to miss, but if you don’t keep an eye on them, you’re just handing money away.”

Even small, simple switches can lead to big savings and even fund a holiday.

And as Lucy’s warnings show, millions of Brits are still overpaying on old phone contracts and unused subscriptions.

Whether it’s AI tools like Nous, free services like 85075, or just a quick look at your bank app, the key is to take a few minutes to check what you’re paying and act before it’s too late.

It’s not every day you save over a grand, but it could be if you catch the same mistakes.

BRITS could receive as much as £2,500 in free cash to spend in the likes of Greggs, M&S or Waitrose, thanks to a scheme run by a major energy supplier.

E.ON has relaunched its ‘refer a friend’ scheme and the company will hand out £50 in retail vouchers for customers and their friend, if there is a successful referral.

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So under the new, improved scheme both the existing customer and the new one will both receive the voucher.

They can be spent at a number of high street retailers, including Waitrose, Argos, Greggs and Ticketmaster.

However, the money is capped at £2,500.

Both parties will receive their voucher once the new customer has paid their first direct debit.

Julian Lennertz, Chief Commercial Officer, E.ON Next, said: “We know our customers have really valued the £50 credit they received on their energy account under our previous scheme.

“We’ve also learned that our customers want more choice over where and how they spend their £50 thank you, so they can get the best value for them.

“That’s why they can now choose from hundreds of retailers.

“And because we appreciate all of our customers, old and new, we have expanded the scheme to reward our new customers as well as the existing ones who are making the referrals.”

E.ON Next’s new scheme has been launched in collaboration with its new referral partner, MentionMe.

To be eligible, all existing customers have to do it simply sign up to the scheme.

There are some strings attached though.

To be eligible for the voucher, the new customer must transfer from another supplier and sign up to through the existing customer’s unique MentionMe link.

Customers can make up to five referrals a day, with an overall total of 25 referrals each year.

Which means that both the customer and friends could be better off to the tune of £2,500.

Last month, millions of households were urged to apply for free energy grants worth up to £1,700.

Families who have fallen behind on their gas and electricity bills qualify for help through a little-known fund.

The British Gas Individual and Families Fund is open to prepayment meter customers who are in up to £1,700 worth of energy debt.

If you can’t get help through British Gas’ Individual and Families Fund, you might be able to knock money off your energy bill through the Household Support Fund.

The fund is a giant £742million pot of money that’s been shared between councils in England.

These local authorities are now distributing their share of the fund and can set their own eligibility criteria.

That means what you’re entitled to depends based on where you live, but you will likely qualify for help if you’re on benefits or a low income, and may be able to get energy vouchers or cash.

Speak to your local council about what help is on offer. You can find your nearest by visiting – www.gov.uk/find-local-council.

Depending on what benefits you’re on, you might be eligible for a Winter Fuel Payment, the Warm Home Discount or a Cold Weather Payment too.

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FORMER University students could be owed £1,000s in overpaid loans – here is how to check if you can get a refund.

In the last tax year, over one million third level education leavers overpaid their student loans, according to figures released by the Student Loans Company (SLC). 

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But there are a number of reasons you may have been overcharged on your loan.

According to MoneySavingExpert, this includes beginning to repay the loan during some months, despite not earning enough in the full year.

You are only required to pay your loan back once your income exceeds a certain annual threshold.

This varies depending on what type of plan you were on when you started university. There are five plans in total.

For example, those on Plan 1, who attended university between 1998-2011 are required to earn a minimum of £26,065 before they begin paying back their loan.

Minimum earnings thresholds vary from plan to plan, with those on Plan 2 who attended university between 2021-22 being required to earn £28,470 before they start making repayments.

The blog said that if your earnings vary throughout the year, i.e. if you received a bonus, this could lead you to start making repayments before you are actually required to.

Another reason you may have overpaid is if you were put on the wrong plan.

This can happen if you filled in the student loan section of the HM Revenue & Customs (HMRC) starter checklist form wrong.

You can check which plan you are on by visiting the Gov.uk website.

Alternatively, you may be overcharged if you began repaying your loan too early or you had money deducted after the loan was fully repaid.

How to get a refund if you have overpaid

If you think you have been overcharged, you can get the money back and there a few ways you can go about this.

The blog said that former students who began repaying the loan despite not meeting the earnings thresholds can request a refund online.

This is done via the government’s Student Loan Company (SLC) online portal.

To do this, you will need to sign in to your online repayment account and select ‘request a refund’.

Once you’ve requested a refund through your online account, it will be processed in 28 days.

The money will get paid into your bank account.

It is also worth nothing that this only applies for tax years up to 2023-24.

More ways to claim

Alternatively, students can speak to their employer or call the SLC.

This may be applicable if you entered the wrong plan when filling out an HMRC starter form.

Ahead of your call, you can check what plan you are on in your online account and download an ‘active plan type letter”.

You can call on 0300 100 0611 to discuss the matter with the SLC.

You can also call the helpline if you began repaying your loan too early.

The MSE blog said: “When you get through, explain your situation and ask to reclaim the money you’re owed.

“To make the process smoother, before ringing see if you can dig out any old payslips, your payroll number, and/or your PAYE reference number.”

There is no restriction on how far back you can claim, so if you think you may have been affected years ago you can still ring up.

If you had money deducted after the loan was fully repaid, HMRC should pay you back this money automatically, 

Readers of the blog have claimed back as much as £3,773 by using these methods.

One said: “Thank you so much. I knew something wasn’t right when I lodged my tax returns and reading Martin’s article was the catalyst for a sustained attempt to work out what had happened. I received £3,773 back.”

While another said the process only took 15 minutes.

They explained: “I spent 15 minutes on the phone and got £555 back for overpayments on my student loan.

“Most was because of my maternity leave. Thanks so much, couldn’t have come at a better time.”

How student loan plans work

If you wish to attend university you may take out a loan to help cover the costs.

The loan is paid directly to the university or college on your behalf.

Repayments start from the first April after you finish or leave your course.

You repay 9% of your income above the repayment threshold.

This means that the majority or basic-rate taxpayers lose 37p for every £1 they earn above the threshold – 20p as income tax, 8p as national insurance and 9p for a student loan.

Your repayment threshold will vary depending on when you studied at university.

Interest is charged on your loan from the day you receive the first payment until it is repaid in full.

MILLIONS of us subscribe to Amazon Prime – but is it worth it?
We take a look at what you get and how many deliveries you need to justify the fee – and how to get a discount.

You can sign up to Amazon Prime for free for 30-days or an annual membership costs £95 a year or £8.99 a month.

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Its most famous perk is free and fast deliveries and access to Prime Video – but there are lots of extra such as discounts on cinema trips.

You can pay for Prime Video-only for £5.99 a month – but this doesn’t include any of the other extras. 

Exact amount of orders you need to make Prime worth it

To justify the £95 annual fee for Prime, you need to save at least that amount on delivery costs and other benefits.

How easy that will be depends on what services you use.

For instance, Prime Video only costs £71.88 a year, so you only need to save £23.12 in delivery fees all year, to make the upgrade to Prime worth it.

But if you’re just signing up for the free delivery, then it’s harder.

For non-members, Amazon charges different rates depending on your basket value and delivery speed. 

Here’s what it really costs without Prime, and how often you’d need to order to break even.

Standard Delivery (3–5 days):

• Free if you spend £35 or more (or £10+ on books). If you spend less, charges are £4.99 for most items, but just £3.99 for book-only orders under £10.

To break even:

• 19 smaller orders per year at £4.99
• 24 book-only orders at £3.99

One-Day or Premium Delivery

• Costs £4.99 per order for non-members

To break even: 

Same-Day or Overnight Delivery

• Costs £5.99 per order for non-members. Prime members get it free on orders over £20, or pay £1.99 for smaller baskets.

To break even:

• 16 orders per year at £5.99

Pickup Location (Locker or Amazon Hub)

• Costs £2.99 per order for non-members, but free for Prime members.

To break even:

• 32 pickup deliveries per year

How to get a discount

Almost anyone can start with a 30-day free trial, which gives access to every Prime benefit.

If your last trial was over a year ago, you can usually sign up again. 

To get the freebie, click “Try Prime” and follow the steps outlined. You’ll need to add a payment method, but you won’t be charged unless you stay on past the trial period.

Each adult in your household can do this separately, meaning couples can effectively get two months free between them as long as they use separate email accounts.

If you’re a student or aged 18 to 22, you can get a six-month free trial, followed by half-price Prime for up to four years or until you turn 23.

To claim, visit amazon.co.uk/joinstudent or amazon.co.uk/18-22 and upload proof of eligibility, such as a university email or government-issued ID.

However, students that cancel during the trial and come back later, don’t get another freebie, only the discounted rate.

What benefits are included on Prime?

Amazon Prime now includes over a dozen benefits. Here’s what you get, how to access each one, and what it’s worth.

1. Free one-day and same-day delivery

Prime gives unlimited One-Day Delivery on millions of items, and Same-Day or Overnight Delivery in eligible postcodes.

Orders under £20 for same-day cost £1.99, but are free if you meet the threshold.

To use it, just make sure you’re signed in as a Prime member when placing your order.

Qualifying items will be marked with the Prime logo.

• Value: around £4.99 to £5.99 per order saved, based on the equivalent delivery charges for non-members

2. Prime Video

Watch thousands of shows and films, including Amazon Originals like Clarkson’s Farm, The Boys, and new dramas like The Girlfriend.

Ads were introduced in 2024, so if you want to watch ad-free, you’ll need to pay an extra £2.99 per month. You can also get Prime Video alone for £5.99 a month.

3. Amazon Music

This allows you to access 100 million songs and top podcasts, but it’s worth noting that most albums only play on shuffle unless they’re part of Amazon’s All-Access Playlists.

For full on-demand access, upgrade to Music Unlimited for £10.99/month, or £9.99 if you’re a Prime member.

To use it, download the Amazon Music app and sign in.

• Value: If you got rid of a separate music service and replaced it with Amazon Prime, you could save hundreds each year.

4. Prime Reading

Download and borrow thousands of rotating e-books, comics and magazines.

You can read them on Kindle devices or on the free Kindle app for iOS and Android.

To access, go to amazon.co.uk/primereading and browse the titles.

• Value: up to £100/year saved based on two to four books or magazines per month at typical Kindle or newsstand prices

5. Amazon First Reads

Choose one free pre-release Kindle book each month from a selection of new titles. Go to amazon.co.uk/firstreads to claim.

• Value: £3–£5/month saved, based on average Kindle ebook pricing

6. Prime Gaming

Get a selection of free PC games each month, plus one free Twitch channel subscription (normally £4.99), but only if you link your Amazon and Twitch accounts.

To activate, go to gaming.amazon.com and click “Link Account”.

• Value: £60+ per year based on 12 months of free Twitch subscriptions or typical game costs

7. Deliveroo Plus Silver

Get a full year of Deliveroo Plus Silver, usually £3.49/month. It gives you free delivery on restaurant orders over £15 and groceries over £25.

To activate, visit amazon.co.uk/deliveroo and log in to both accounts.

• Value: £41.88/year saved if you would otherwise subscribe directly to Deliveroo Plus Silver

8. Odeon tickets for £10

Each month, get two cinema tickets for £10 Monday to Thursday (or £15 at Odeon Luxe). Go to amazon.co.uk/odeon to redeem.

• Value: up to £10/month saved compared with standard Odeon ticket prices of around £10 each

9. Amazon Photos

Store unlimited photos securely in the cloud, plus 5GB for videos and other files.

You can share albums with up to five family members via Family Vault, and display images on Echo devices or Fire TV.

To use, download the Amazon Photos app and sign in.

• Value: £7–£10/month saved compared with similar plans from other providers

10. Amazon Fresh and grocery delivery

Order groceries from Amazon Fresh, Morrisons, Iceland and Co-op. Same-day delivery is free over £60, £2 for £40–£59.99, and £4 for smaller baskets.

Availability depends on postcode. To shop, go to amazon.co.uk/fresh and enter your postcode.

11. Amazon Day Delivery

You can choose a weekly delivery day to group your orders into fewer packages, which is a great way to reduce packaging and plan ahead.

Enable at checkout by selecting “Amazon Day” or set it as your default under “Your Account > Amazon Day”.

12. Prime-exclusive deals and early access

Get 30-minute early access to Lightning Deals, and exclusive savings during Prime Day, Black Friday and other events.

No setup needed, just make sure you’re signed in to your Prime account.

13. Amazon Family sharing

Share Prime with one other adult and up to four children. You’ll each have your own account, but share perks like Prime Video, Reading, and Photos.

To set it up, go to “Accounts & Lists > Your Amazon Family” and add adult or child members.

• Value: £95/year saved if splitting the cost of one full membership between two adults

14. Parental controls

Set up profiles for each child, limit screen time, and manage what they can access through the Amazon Kids Parent Dashboard. Works across Fire tablets and Kindle devices.

To access, go to parents.amazon.co.uk.

15. Buy Now with Prime

Use Prime benefits with the “Buy Now” button by setting your default delivery address, payment method, and delivery speed in your purchase preferences.

Useful for quick checkouts, though not available to PO Boxes or some business addresses.

A BIG high street banking chain is axing a lifeline service for all customers within weeks.

M&S Bank is stopping customers from paying off their credit card bills in-store, by cheque, or using bank giro credit – a move campaigners say will make life harder for older and vulnerable people.

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The bank, run as a joint venture between HSBC and M&S since 2004, had already paused in-store credit card payments back in April.

Now, the decision has been made permanent, according to This is Money.

To make matters worse, a letter sent to customers confirmed that from October, payments by cheque or giro credit will no longer be accepted at banks, building societies, or post offices.

The decision has caused a stir, with critics claiming it’s yet another blow to older people who are being left behind in an increasingly digital world.

Baroness Ros Altmann, a pensions expert, said: “You’re pushing away your most loyal, older customers who’ve probably shopped with you for decades.

“It might only be a minority who use these methods, but with M&S Bank’s huge customer base, it’s still a lot of people.

“These changes tend to hit older folks hardest.

“Many don’t have access to online banking or smartphones, and some prefer cash to help them budget better.”

M&S Bank currently offers credit cards, personal loans, travel insurance, store payment cards and a buy now pay later credit to over three million UK customers.

Caroline Abrahams, Age UK’s charity director, also raised concerns.

She highlighted research showing that 27% of people still manage their accounts through branches, while 31% feel uneasy about banking online.

“Reducing payment options will limit some older people, especially those who aren’t online or who prefer cash,” she said.

M&S Bank has defended the decision, saying only “1%” of customers use these older payment methods.

A spokesperson said: “Most customers are choosing to use digital channels for their banking needs.

“We’ve introduced a pay-by-bank option via the M&S Bank app, alongside direct debit and bank payments, to make things easier for them.”

They added that the axed options were “legacy payment methods” and pointed out that customers can still pay at a bank, but giro forms will no longer be printed with statements.

M&S Bank used to offer current accounts prior to 2021.

However, the bank closed this product offering on August 31, 2021, in a shock move that also resulted in the closure of all 29 in-store bank branches on July 2 of the same year. 

Since the shake-up, the bank has completely shifted its focus to credit cards, insurance and reward offerings.

What other banking changes are coming?

NatWest is making changes to its business current accounts by increasing fees for cash payments, cheque transactions, and certain online transfers.

From August 30, cash payments into and out of business accounts will see their fees surge from 70p per £100 to 95p per £100. 

Cheque payments, whether processed by hand or via mobile, will also jump from 70p to 75p per cheque.

The bank is also increasing some charges related to its BACS payment system.

The BACS system is a UK payment network used by businesses to make electronic bank-to-bank transfers, such as Direct Debits and Direct Credits.

The fee for processing each individual payment or instruction, will soon rise from 18p to 21p.

The cost to process a file containing multiple payments or instructions will also increase slightly from £5.25 to £5.35.

Meanwhile, Santander is closing its 123 Lite current account, which offers up to 3% cashback on household bills for a £2 monthly fee, on August 21.

Customers affected by the closure will be automatically switched to Santander’s Everyday Current Account.

This account has no monthly fee but does not include cashback benefits.

Plus, new customers applying for the bank’s Edge Credit Card will now face a monthly fee of £4, an increase from the previous £3.

Plus, customers of Lloyds Bank, Halifax and Bank of Scotland will soon lose the ability to deposit their cheques at any of the 11,500 Post Office branches nationwide.

From December 31 this year, Lloyds Banking Group will withdraw this service for all customers.

KEMI Badenoch has thrown down the gauntlet to Keir Starmer on the economy demanding no stealth taxes on Brits.

The Tory leader has written to the Prime Minister saying “tax rises are a choice”.

She has challenged him to repeat Chancellor Rachel Reeves’ promise at the Budget last year not to extend the freeze on income tax and National Insurance thresholds.

Failing to end the freeze as planned in 2028 would mean millions more Brits are forced into paying a higher rate of tax under fiscal drag.

This is when people are pulled into higher income tax brackets as inflation pushes their wages up.

It comes after a bombshell report said the Chancellor must find £50billion in her autumn Budget to keep the country’s finances in check.

She will have to raise taxes or cut spending to maintain her stated financial cushion of £9.9billion by the end of the decade, according to the National Institute of Economic and Social Research.

At the Budget, Ms Reeves said: “Extending the threshold freeze would hurt working people.

“It would take more money out of their payslips.

“I am keeping every single promise on tax that I made in our manifesto, so there will be no extension of the freeze in income tax and national insurance thresholds.”

Ms Badenoch asked the PM: “I am writing to you to ask: does this remain government policy?”

A Labour spokesperson said: “We’ll take no lectures from this failed Tory Party.

“They crashed the economy which sent bills and mortgages rocketing, and left a £22 billion blackhole.

“Kemi Badenoch’s next letter should be an apology to hard-pressed households for the Conservatives’ role in hammering their family finances.

“Labour is the only party focused on creating a fairer Britain.”

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A MAJOR bank with millions of customers is make a huge change to dozens of bank accounts starting within days.

The Co-operative Bank is cutting interest rates on 36 savings accounts, delivering a fresh blow to savers.

It comes just days after the Bank of England lowered the base rate from 4.25% to 4%, marking the fifth interest rate cut since 2020.

The decision means lower mortgage payments for homeowners but often leads to smaller returns for savers.

That’s because the base rate impacts the interest rates banks offer on savings accounts and loans, including mortgages.

The Co-operative Bank has wasted no time, announcing that interest rates on dozens of accounts will be reduced starting on August 14 and October 22.

On August 14, the Base Rate Tracker accounts will see reductions, with interest rates dropping from 4% to 3.75% and from 3.75% to 3.5%.

For example, if you had £1,000 deposited for 12 months, the interest earned at 4% would have been £40.

After the rate drops to 3.75%, you would earn £37.50 – a difference of £2.50.

Similarly, with the rate falling from 3.75% to 3.5%, the interest earned would decrease from £37.50 to £35, meaning £2.50 less over the year.

From October 22, various other accounts will experience cuts, including the Future Fund, which will see its rate fall from 1.53% to 1.46%, and the Online Saver, dropping from 2.12% to 2.06%.

Other affected accounts include the Smart Saver, Select Access Saver 5, and Privilege Premier Savings, with reductions ranging from 4.15% to 3.9% and 3.53% to 3.4%. 

Cash ISA holders will also be impacted, with Cash ISA 2 rates falling from 3.25% to 3%.

Fortunately, several savings providers still offer returns of up to 5%.

With the average bank customer holding around £10,000 in savings, according to Raisin, switching could be a smart move.

To help you get the best returns, we’ve listed the top savings rates for each account type below.

What’s on offer?

If you’re looking for a savings account without withdrawal limitations, then you’ll want to opt for an easy-access saver.

These do what they say on the tin and usually allow for unlimited cash withdrawals.

The best easy access savings account available is from Cahoot, which pays 5% – and you only need to pay a minimum of £1 to set it up.

This means that if you were to save £1,000 in this account, you would earn £50 a year in interest.

Meanwhile, West Brom Building Society’s easy access account offers customers 4.55% back on savings worth £1 or more.

If you’re okay with being less flexible about withdrawals, a top notice account could be a great option.

These accounts offer better rates than easy-access accounts but still let you access your money more flexibly than a a fixed-bond.

RCI Bank UK’s 95 day notice account offers savers 4.7% back with a minimum £1,000 deposit, for example.

This means that if you were to save £1,000 in this account, you would earn £47 a year in interest.

Meanwhile, GB Bank’s 120-day notice account offers 4.58%, requiring a minimum deposit of £1,000.

If you want to lock your money away and keep the same savings rate for a set time, a fixed bond is a good choice.

The best fixed rate currently offered is Vanquis Bank’s one-year fixed bond, which pays 4.44%, requiring a minimum deposit of £1,000.

Meanwhile, Atom Bank’s one-year fixed bond offers 4.42% back on a deposit of £50 or more.

This means that if you were to save £1,000 in this account, you would earn £44.20 a year in interest.

If you want to build a habit of saving a set amount of money each month, a regular savings account could pay you dividends.

Principality Building Society’s Six Month Regular Saver offers 7.5% interest on savings.

It allows customers to save between £1 and £200 a month.

Save in the maximum, and you’ll earn £25.81 in interest.

While regular savings accounts look attractive due to the high interest rates on offer, they are not right for all savers. 

You can’t use a regular savings account to earn interest on a lump sum.

The amount you can save into the account each month will be limited, typically to somewhere between £200 and £500.

Therefore, if you have more to save, it would be wise to consider one of the other accounts mentioned above.

LYING in bed at night 68-year-old Melanie O’Reilly lay awake worrying about how she couldn’t afford to quit her £23,500 a year, 37.5-hour a week job working in a call centre. 

She was £13,000 in debt and knew she couldn’t afford to pay the £500 a month repayments to the bank – but she was desperately unhappy in her job.

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Her days were spent fielding angry calls from Hounslow residents complaining about council tax and housing benefit. 

She had moved from South Africa to England in September 2019 with no savings but found a job quickly due to her past career in office furniture sales. 

However, the pandemic hit and in October 2020 she was made redundant before struggling to find a job at a call centre in the local council in Hounslow, West London in February 2022. 

“I couldn’t stand it anymore. I was sitting there most days in full-blown migraine feeling like I had sandpaper in my eyes, until I couldn’t see the screen anymore,” Melanie, now 69, said.

“I had been very good at my job in South Africa, and I was excellent at sales.”

“Suddenly I was being micromanaged by a 26-year-old, who would count how many times I went to the toilet in a day, and tell me off if I took 31 seconds on a call instead of 30 seconds.

“The staff turnover was ridiculously high and it started to affect my physical and mental health.”

Melanie, who had previously worked as an insurance PA in London before the move to South Africa, was utterly fed up, and knew she had to retire – but had no idea how she could do so with her mounting debt.

She had lent her son and daughter-in-law, who had also moved to the UK, money for a deposit on a home in Colne, Lancashire – but then disaster struck. 

Suddenly her daughter-in-law was made redundant shortly after they had their first child, meaning they couldn’t pay Melanie back as quickly as they’d planned. 

Melanie was also dealing with the financial fall out of splitting from her partner and she took out a £15,000 personal loan and she had mounting credit card debt of £3,000. 

Worryingly one in three people approaching retirement now have debt, with the average over-65 borrower owing £17,000, according to Money Wellness. 

Financial anxiety among the 65 to 74 age group has more than doubled since 2021.

“I had the personal loan, but I was not behind in my payments and I just knew, ‘I’ve got to leave. I have to retire.

“If I don’t, I am going to have a breakdown’,” Melanie said. 

“I decided to retire and I did, in April 2024. I called up Lloyds Bank and I said, ‘I’ve got this personal loan with you and I know that a few months from now I’m going to end up not being able to pay you.’

“I knew I had to take preventative measures before I got behind in any of my payments.

“I was hugely concerned about how to get Lloyds Bank to agree to a reduced monthly payment. 

“I knew I couldn’t pay them back £500 a month, and I knew they wouldn’t negotiate a new loan with me because I was unemployed, as I was now retired with no real income.”

Lloyds put Melanie in touch with Money Wellness, one of the largest providers of debt advice and debt solutions in the UK.

Money Wellness provides free, confidential support to anyone struggling with money or debt, with support available online 24/7 or over the phone, so people can get help in the way that suits them best.

Melanie still owed £13,000 of the £15,000 personal loan. She called Money Wellness, and they asked her to draw up an income and expense statement.

Advisors went through her statement in detail, making allowances for everything from clothing to haircuts, and calculating how much she could afford to pay back each month to help Melanie put a debt management plan in place.

“They were so empathetic and professional,” Melanie explains.  

“We revised the budget down to a manageable figure that I could pay Lloyds Bank back and by the end of it, it felt like this was too good to be true.

“They took the burden of negotiations off my shoulders and it was all done seamlessly for me without me having to worry about anything.”

The adviser told Melanie that they would negotiate the figure she had to pay back directly with Lloyds Bank, to the extent of setting up a debit order.

“After the call, I sat back and wept,” Melanie remembers. 

“I was hugely concerned because when I was working at the council, I had people calling me up saying, ‘I’ve got the bailiffs at my door. They’re bashing my door down. What do I do?’

“I did not want to be in that position, and I knew that that is a reality that can and does happen.

“I did not want to go anywhere near being that person who’s got the bailiff bashing at your door. That is why I nipped it in the bud before it became a problem.”

From paying £500 a month back, Melanie now pays back £134 a month, with no added interest. 

She lives in a HMO in Burnley so she doesn’t pay utility bills or council tax and receives housing benefits and pension credit.  

Her repayments come from a small state pension, pension credit and housing benefits.

She receives £456.64 state pension, £451.56 pension credit and £368.20 housing benefit every four weeks.

She’d had to spend her small private pension on replacing her car after a car accident, and buying essentials like furniture. 

Money Wellness reviews her plan annually, adjusting the amount if her income changes.

Melanie feels positive about the future and says the debt advice she received from Money Wellness is “the best decision I ever took”.

“For so long, I’d sat with this worrisome burden, thinking ‘I need to retire but I’ve got this debt. What do I do?’ Then these angels from heaven stepped up and helped me,” she adds.

“I feel as though a mountain had been lifted off my shoulders.”

A high-profile law firm representing the city of Los Angeles in a sweeping homelessness case submitted an $1.8-million invoice for two weeks of work in May, according to records reviewed by The Times.

The invoice from Gibson Dunn & Crutcher LLP comes as the city is already under serious financial pressure, caused in part by rapidly growing legal payouts.

With at least 15 of Gibson Dunn’s lawyers billing at nearly $1,300 per hour, the price tag so far equates to just under $140,000 per day over a 13-day period.

Gibson Dunn, while representing the city of Grants Pass, Ore., recently secured a landmark ruling from the U.S. Supreme Court that upheld laws barring homeless encampments in public spaces.

Los Angeles officials retained the law firm in May, roughly a week before a seven-day evidentiary hearing to determine whether control over the city’s homelessness programs should be taken away from Mayor Karen Bass and the City Council and turned over to a third-party receiver.

A month later, U.S. District Judge David O. Carter issued a scathing ruling, saying the city failed to adhere to the terms of a three-year-old settlement agreement with the L.A. Alliance for Human Rights, which calls for the creation of 12,915 homeless beds or other housing opportunities by June 2027.

Still, Carter also concluded that “this is not the time” to hand control of the city’s roughly $1 billion in homelessness programs to a third party.

Matthew Umhofer, an attorney representing the Alliance, said the city paid big money to Gibson Dunn in a failed attempt to wriggle out of its legal obligations.

“The city should be spending this money on complying with the agreement, and/or providing services to the people who need them,” he said. “Instead, they are paying a law firm to fight tooth and nail against obligations that are clear in the settlement agreement — and that a judge has affirmed they are in violation of.”

The invoice, which The Times obtained from the city attorney’s office, lists a billing period from May 19 to May 31, covering a week of preparations for the high-stakes federal hearing, as well as four of the seven trial days — each of which typically lasted eight or more hours.

Theane Evangelis, head of the Gibson Dunn team representing the city, referred questions about the invoice to the city attorney’s office.

Karen Richardson, a spokesperson for City Atty. Hydee Feldstein Soto, said in a statement that Gibson Dunn “did an outstanding job of stepping into a crucial matter that had been in litigation for nearly 5 years before they were hired,” compressing “what would normally be years worth of work into a very short time period.”

“We are grateful for their service and are in the process of reviewing the expenditures … to ensure that we go back to Council with a complete picture of what was done and charged,” she said in a statement.

The city retained Gibson Dunn just as council members were signing off on hundreds of employee layoffs, part of a larger strategy for closing a nearly $1-billion budget shortfall. The first batch of layoff notices was scheduled to go out this week.

The City Council initially appropriated $900,000 for Gibson Dunn, for a period not exceeding three years, according to the firm’s contract. Going over $900,000 required prior written approval from the city attorney, according to the contract.

The law firm quickly surpassed that threshold, eventually billing double the specified amount.

During the seven-day hearing, Gibson Dunn took a highly aggressive posture, voicing numerous objections to questions from attorneys representing the Alliance, as well as two organizations that intervened in the case.

Councilmember Bob Blumenfield, who serves on the council’s homelessness committee, said the city attorney’s office did not advise him that Gibson Dunn’s legal costs had reached $1.8 million in such a short period. Blumenfield, who represents part of the San Fernando Valley, said he is “not happy” but is reserving further comment until he receives more specifics.

Three months ago, Blumenfield co-authored a motion with Councilmember Tim McOsker seeking regular updates on the Alliance litigation — both from Gibson Dunn and the city attorney’s office.

McOsker, who serves on the budget committee and spent several years running the city attorney’s office, also did not receive notification of the Gibson Dunn $1.8-million invoice from the city’s legal team, according to Sophie Gilchrist, his spokesperson.

Gilchrist said her boss had asked for regular updates to “prevent any surprises in billing” related to the Alliance case.

“That’s why the Councilmember is requesting that this matter be brought to City Council immediately, so the City Attorney can provide a full accounting and discuss all invoices related to the case,” she said.

Gibson Dunn has filed a notice of the city’s intent to appeal at least portions of Carter’s ruling, which ordered a third-party monitor to review and verify the data being produced by the city on its housing and encampment goals.

Carter signaled that he probably would order the city to pay the legal fees of the Alliance and homeless advocacy groups that have intervened in the case. So far, the Alliance has sought $1.3 million from the city to cover its legal expenses incurred since April 2024.

In a statement to The Times earlier this week, Evangelis, the Gibson Dunn lawyer, cited the judge’s “suggestion that the Alliance may recover attorneys’ fees” as one reason for the appeal.

“The City believes that its resources should be spent providing services to those in need, not redirected to the Alliance’s lawyers — particularly when the district court has rejected most of their arguments,” she said.

A COCKTAIL chain has fallen into administration, with four sites shutting their doors for good.

Simmons has appointed advisory firm Kroll to oversee the administration, company filings show.

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In its most recent audited account the company posted a loss of £749,000 for the year to end March 2024, reversing a profit of just under £2million the previous year.

Last week Simmons revealed plans to close at least four sites to focus on its best performing venues.

The chain has venues across London and one in Manchester and offers cocktails, brunches and karaoke at its 21 locations.

Last week Nick Campbell, who founded the company in 2021, said the move would “streamline its portfolio and strengthen its financial position”.

He said: “As part of the process, we’ve taken the tough decision to exit four leases, allowing management to focus resources on our strongest performing venues.

“Alongside this, we’ve secured additional investment to support future expansion and operational improvements across the estate.”

Tough times for UK pubs

Many of Britain’s pub and bar chains are feeling the impact of the pandemic and cost of living crisis.

The hike in costs of every day goods has meant that punters have less money to part with at the till.

Meanwhile, hikes to employers’ National Insurance Contributions that were introduced in April have piled further pressure onto businesses that are already struggling.

Last month The Coconut Tree  announced that it would be wound down after defaulting on its Company Voluntary Agreement (CVA).

The Sri Lankan restaurant group entered into the agreement last July, according to a report in Restaurant Online.

As a result, the group was required to initially repay £27,000 a month for the first three months.

Meanwhile, Oakman Inns & Restaurants fell into administration, with six sites shutting their doors for good.

It will see a total of 19 sites either sold or closed for good.

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