Car finance firms could be seeing an issue "on par" with the PPI scandal, according to one consumer compensation expert.
13.03.2024 - 17:33 / dailyrecord.co.uk
Martin Lewis has issued a word of advice to everyone born between 1985 and 2006, telling them to put £1 in a savings account quickly.
He was back on our screens on Tuesday March 12 with a special edition of his Martin Lewis Money Show on ITV1 and ITVX focusing on the budget.
During the programme, the Money Saving Expert spoke about the help available to young people when it comes to buying a house and getting on the property ladder.
There's a special savings scheme from the government that helps young people buy a home worth up to £450,000. Martin tried to get Chancellor Jeremy Hunt to raise this amount but nothing changed.
Martin said; "I think it's unfair and it's not your fault house prices have gone up since 2017 but the Lifetime ISA (LISA) hasn't and you were encouraged to do what you were encouraged to do. And he didn't do anything.", reports Yorkshire Live.
If you're between 18 and 39 years old and don't own a house yet, Martin says you should save money in a (LISA) account if you want to buy a house that costs up to £450,000.
Big banks like HSBC, Natwest, and Halifax offer these accounts with different interest rates, but they all come with a bonus from the government.
This tip is for you if you were born between 1985 and 2006, as of today, March 12, 2024. You can save up to £4,000 each year in a special account until you're 50 years old. But remember, you need to start before you turn 40.
The government will then give you a bonus of 25% on your savings, which can be as much as £1,000 every year.
You get the bonus after your account has been open for a year. You don't need to keep your money in there all the time, so you can wait and then put money in later to get the bonus.
If you take out your savings, you have to
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