Money Saving Expert Martin Lewis has issued a warning to anybody on Universal Credit in the UK. There are currently around 2.6 million people in the country who are receiving the benefit payment.
20.04.2022 - 18:39 / manchestereveningnews.co.uk
Money Saving Expert Martin Lewis says that some people can refuse to pay increased prices for electricity and heating. He appeared on ITV's This Morning where he explained why to Holly Willoughby and Phillip Schofield.
On the show he took requests for help from readers, as he usually does. But one question in particular caught the attention of viewers.
The presenters read out a message from a concerned caller named Robert, who had been informed by Scottish Gas that his energy bill will increase from £86 a month to £251. The average energy bill increased by 54% this month when Ofgem lifted the price cap, however Robert's bill is set to treble - and Martin branded the customer's steep price hike as "terrifying".
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He said: "I gave evidence to the Parliamentary Business Select Committee to say I am worried that energy firms are artificially inflating people's direct debits too high. I am going to be conducting a survey on that over the coming week to try and get some data to see how common this is."
Martin explained Robert's increased price hike could be down to three reasons. He added: "The first is if he was on a cheap fix and his cheap fix ended and he now moves to the price cap. The second is if he's chosen to fix so he was on the price cap and he's moved to the fix.
"But if he's just on the standard variable tariff then the third reason is most likely. That is they have taken this opportunity of the increase in price to increase their estimate of how much he will be using in future. Possibly because they want to future proof against rises in October."
However, Martin explained that if this happens to a customer who is in
Money Saving Expert Martin Lewis has issued a warning to anybody on Universal Credit in the UK. There are currently around 2.6 million people in the country who are receiving the benefit payment.
Martin Lewis has criticised energy firms which are doubling bills for one in four customers, according to research.The MoneySavingExpert founder said suppliers raising prices in some cases by 100 per cent "smells wrong". Customers complained about companies such as British Gas and Octopus in a survey by MoneySavingExpert.com between April 26 and May 3. One in four people who took part claim their bills have doubled despite being on a price cap and in credit.
Martin Lewis has replaced Richard Madeley on Good Morning Britain for the first show of the week. On Monday 9 May the 65 year old was replaced by the financial journalist who appeared alongside Susanna Reid, which ITV viewers were delighted to see. The Money Saving Expert took the opportunity to discuss the latest changes to the cost of living as well as university fees and viewers rushed to Twitter to praise the switch-up.
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Martin Lewis has issued another warning about Bitcoin scams which fraudulently claim to be supported by the personal finance expert.The Money Saving Expert founder appeared on This Morning to take calls from viewers alongside hosts Holly Willoughby and Phillip Schofield.The star’s advice on finances is trusted by many, but it has also opened the door to scammers promoting services they claim Martin has backed, leaving him to insist that he does not participate in any advertisements. When a caller into the show mentioned a campaign that Martin was supposedly involved in relating to investing in the cryptocurrency Bitcoin, he immediately began to shake his head.
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Martin Lewis has issued a warning to those with money in a savings account to "check it now." He's urged people to see if they're being underpaid, and encouraged people to check savings pots to make sure you're getting the best value for your money.The Money Saving Expert is known for his savvy saving hacks and in recent updates he said those with savings pot, big or small, need to review.Top savings rates have jumped to their highest levels since July 2019 and Martin said that if your savings rates are less than 1.5 per cent you're being underpaid. Get exclusive celebrity stories and fabulous photoshoots straight to your inbox with OK!'s daily newsletter He said: "Don't stand for it.The minimum savings should pay is 1.5% - as that's what you can get in the top easy-access account.
Money Saving Expert Martin Lewis has issued a warning to anybody in the UK with a savings account. He says if people don't act now, they could lose a significant amount of money.
Money Saving Expert Martin Lewis has issued a warning to millions of people who have a British passport. The ITV This Morning Expert says people need to be aware of 'hidden' fees when renewing their passport.
Amid rising cost of living prices in the UK, houses across the country are doing whatever they can to save money on bills. With energy costs rising, heating our homes has become increasingly expensive, with many taking money-saving tips wherever they can to lower their bills this spring. Money Saving Expert Martin Lewis has now been praised after shoppers discovered a £35 SpecialBuy bargain from Aldi which will help to keep you warm for as little as 4p a week.
Supermarket shoppers have praised Aldi for a £35 Specialbuy thanks to advice given by Money Saving Expert Martin Lewis last week. Last week, the ITV This Morning finance expert advised people on how they can stay warm without turning the heating on.
Earlier this week Money Saving Expert Martin Lewis published a sad but essential guide called ‘heat the human not the home ’. In the guide put together by his team, he shared a number of cost effective ways to keep warm without the need for putting the heating on.
Parents have been issued a warning as more Kinder Surprise products have been recalled over fears they may contain salmonella.