Mortgages and Part-time Work for Students
Summary
The Bank of England's decision to hold interest rates at 5.25% brings a pause to rate hikes, leading to a slight drop in mortgage rates but continued uncertainty for borrowers. The episode also investigates how nearly half of UK universities now encourage part-time work for students, reflecting a major attitude change driven by the cost of living crisis and its impact on student finances. Discussions include the struggles faced by students balancing work and study, the need for increased maintenance loans, and critical advice for savers to find the best rates.Episode description
The Bank of England has held interest rates at 5.25%, ending a run of 14 consecutive increases. What does that mean for mortgages? We'll also look back one year on from the mini-budget. Hear from Clare Beardmore the Director of the Mortgage Club at Legal and General and Nimesh Shah the CEO of Blick Rothenberg.
Nearly half of our universities are now encouraging students to work part time by promoting it on their websites. The Higher Education Policy Institute, which carried out the research, has described it as a major change in the attitude of universities. Dan Whitworth reports from St. Andrews.
And what does the rates freeze mean for savers - we'll speak to Anna Bowes the founder of SavingsChampion.co.uk.
Presenter: Paul Lewis Reporters: Dan Whitworth and Sam Clack Researchers: Luke Smithurst and Jo Krasner Editor: Jess Quayle
Mortgages 00:00 Students and Part-time Work 10:26 Energy Report 18:35 Savings and Best Rates 19:29
(First broadcast 12pm, Saturday 23rd September, 2023)