National Savings and Investments (NS&I) has increased the underlying rate for Premium Bonds to its highest level in approximately two years, also enhancing the frequency of £50,000 and £100,000 prize wins. This development has led to a re-evaluation of Premium Bonds, which are held by over 22 million individuals, as a potentially competitive savings option after years of lagging behind top savings accounts.
The podcast "This is Money" discusses the reasons behind the rate hike and whether the improved odds and rate make Premium Bonds a more attractive proposition for savers. This comes at a time when inflation has risen from 2.6% to 2.9% in July, largely attributed to increased energy costs, raising questions about the future of base rates.
Forecasts suggest that energy bills could climb further, with a potential rise in the price cap expected in October, prompting consideration of fixing energy prices. The podcast also touches upon the introduction of plug-in solar panels, which will be legally available for sale starting next week, providing guidance on what consumers need to know before purchasing.
Separately, the podcast addresses a concerning issue where the Land Registry has not registered property ownership for some homeowners even years after purchase. This oversight can prevent individuals from remortgaging their properties, potentially leading to financial difficulties. The discussion includes a specific case study and explores the reasons behind this administrative backlog, noting a surge in similar cases being reported.