13/09/2014 Your Money


Similar Content

Browse content similar to 13/09/2014. Check below for episodes and series from the same categories and more!



can take on a plane. We're going to talk about that.


Apparently there is some sort of voting going on in Scotland later


on. That's all coming up as well. This is Your Money ` your weekly


guide to personal finance issues ` here every weekend on BBC News


television and available all week the vote is yes or no,


the referendum in Scotland will affect everyone in


the UK and their personal finances. You may have found a bargain


flight online, but if you take the wrong luggage ` it may turn out not


to be such a great deal after all. And remortgaging can be a good way


for some people to consolidate We'll be finding out


if it's the right option for you. What would be the effect on the


finances of everyone in the UK if Scotland votes Yes to an independent


country on September 18th? It has the potential to affect


us all wherever we live. What would happen to pensions


and how would savings be protected? Cox is with Hargreaves Lansdowne


in Bristol. What do you think the effect would


be? Nothing would happen immediately. The statutory


protections will continue. There could be changes in the longer term,


but in the next year or so, there would be no change.


We've heard reports of people in Scotland withdrawing


We haven't seen much of that activity. We have seen some


softening of the market, some shares falling slightly, but we have not


seen any sign of that with our clients.


What about if you've pensions savings with a Scottish based


Scottish companies are looking to make contingency plans, so that in


the event of a yes vote, they can continue to provide high levels of


service for their clients. Those people who are residents in the UK


and had invested in Scottish companies would expect no change at


all long term, because these companies would relocate part of


their operations or all of them down to the UK. You might see Scottish


pensions and special savings accounts, but there should be no


change to the state pension. The Scottish yes campaign has always


confirmed that. In the short term, there would be no change in the


longer term, these companies are looking to see that there is a


consistency of service. What is


the Scottish residents with tax The best thing to do is to avoid the


short`term noise, stick with the plan, keep investing with a good


fund and good managers and benefit from the tax relief. Thank you very


much for joining us. Some good news


from the energy suppliers. If you've switched,


there may be cash left in your old closed accounts repaid. The energy


companies have launched a campaign to encourage people to check whether


they're entitled to a refund. Anyone who thinks they may be owed


money is advised to visit Whether it's to avoid


the scrum or possible long delays getting your bags from the carousel,


over half of low`cost airline passengers in Europe now choose to


avoid checking in any bags. Cabin bag rules vary quite


a bit between different airlines. If you don't do your homework,


you could face a hefty supplement at the gate because your bag is just


a few centimetres too long ` Nigel Cassidy has been


finding out more. The longer we have to wait for our


baggage at airports and what we have to pay to check it in, the more we


are willing to carry our own bags. Travelling light is not for


everybody, but it can save you a lot of time and money. This is my


trusted cabin bag and this one is so small that I haven't found an


airline in Europe that would take it. Mind you, I don't have four


pairs of shoes and six changes about fit. It's just better weekend


remember, you can take a much bigger for one airline, but you might not


be allowed it for another. Do you know how heavy your bag is? Probably


about six kilograms. Do you know how much luggage you are allowed?


Probably five kilograms. It has to be 55 x 45, I think. They used to be


a standard that said certain dimensional 's work OK for cabin


luggage, but there doesn't seem to be a standard any more. Most but not


all airlines will let you take a standard bag, but some are not very


flexible. If you get caught at the gate, it could cost you an extra


?50. Although your bag may be the right size for the airline, it might


be too heavy. Only one or two airlines allow an unlimited weight


of bag as long as you can get it into the locker. Otherwise they have


limits, which may be anything from 23 kilograms to five kilograms. In


that case, Teddy, you're overweight. But what is the point of rules, when


you can often get away with more if you are not challenged just before


you board? It is often dependent on the personal policy of the people at


the gates, some are more relaxed than others. But don't rely on that,


because if you are caught out, we're talking about substantial amounts of


money. Airlines are the victims of the lone success. They encourage us


to ditch luggage for the hold and now they are trying to get us to cut


down hand luggage, because it would all fit in overhead bins. `` it


won't all fit in overhead bins. Other personal finance news


in brief now: It's been a year since the launch of


a simpler current account switching service and the number of people


doing so has increased by 19%. Instead of the 18 to 30 days it


took previously, customers can now Remember if you want to switch,


contact your new bank and once you have switched, payments


in or out of your old account will be automatically re`directed


for a period of 13 months. No`one whom you pay, or who pays


you, will have to take any action. While the TSB ` the bank formerly


owned by Lloyds ` has confirmed that it is in the process


of opening up to 30 new branches. It has declined to say where


they will be for the moment. But experts believe the new branches


are likely to be in the English And Cardiff has been named


the best place to live in the UK. Comparison website MoneySuperMarket


examined various financial factors such as house prices


and life satisfaction and the city came out tops with the lowest cost


of living at just under ?360 While a second study revealed Dorset


is the place In fact,


remortgaging your home could be an Two million have done


so over the past five years while millions more have stayed put


and failed to switch. With the interest rates set to


increase after remaining at record lows for 5 years,


now could be a good time to do it. Is now a good time? Yes, we think


rates are at lower levels, it is an increasingly competitive market. We


have just conducted some quite detailed research on some of the


reasoning behind why people haven't remortgaged. A lot of people


historically have been constrained by low levels of equity. That is


starting to reverse as we have seen increasing house prices pity much


across the country. Top to me about M M R, the Mortgage Market Review.


It has come around as a result of the financial crisis. The regulator


has required that mortgage levels in particular are much more rigorous in


their assessment of a borrower's income and ability to pay. ``


mortgage lenders. They check to see, can you still make the payments if


interest rates go up or you lose your job or have more children.


People are looking very much at lifestyle, your income, where you're


spending your income, what proportion of your income your


mortgages. Where you go on holiday. In some cases. Some lenders are more


rigorous than others. The key thing for the markets is ensuring that the


market is sustainable. We want to avoid the boom and bust that the


market has gone through in the past. Constant remortgaging, as part of


the advice bureau, what kind of people should consider


remortgaging? If you could classify who you think should remortgaged


their existing property and who should really think about moving? A


lot of people are less inclined to move these days, they want to stay


in their own home because they have family and friends. I and the


perhaps moved to an area for good reasons. One key factor is school


catchment areas. It's quite a big factor in people's lives these days.


People more prone to move I know staying put, but if they want a


bigger property or want to extend, remortgaging for many of those


people is a good option if they have significant equity in their poverty.


That means we have paid off a lot of their mortgage? Relative to the


value of their home. In some cases people are looking to consolidate


other debts, maybe unsecured borrowing, which may cost more than


their monthly repayments if they transferred to the mortgage, not


necessarily the right option for everybody. Other people will just


want to switch and cap their rates, hedge against future interest rate


rises, which is looking likely on the horizon, and other people may be


paying a rate which is not that competitive and can get better rates


in the marketplace. Thank you very much for joining us today. That is


all from us this week. Keep up to date all week long on the Your Money


pages on the BBC website. On social media, you can find updates on


Twitter. Thanks for watching. Yuval Noah Harari started out as a


social historian and these days his interest spread right to the start


of humankind. His book Sapiens is a bestseller in Hebrew and he has now


helped to translated into


Download Subtitles