May 1st, 2025 | Andrew Hagger | News

April 23rd, 2025 | Andrew Hagger | News

An estimated 12.3 million households have had to put off some form of home maintenance work because of the cost of living crisis, according to new research. The figures state that around two-fifths (43%) of residents have had to delay these types of jobs due to rising costs. This means millions have been forced to risk their property’s condition deteriorating and even becoming unsafe.

The numbers come from Go.Compare home insurance, which asked residents how rising costs have affected their ability to look after their property, then combined the results with ONS data. The findings show that millions of residents have been unable to keep up with house maintenance expenses since the start of the cost of living crisis.

Worryingly, just over a fifth (23%) stated that they have postponed making home repairs due to increased living costs. This means an estimated 6.4 million households have been forced to live in damaged properties because they can’t afford to repair them.

Cosmetic projects are the most likely to have been shelved by residents. Three in 10 (30%) stated they have delayed redecorating their home because of the rising living costs, showing that more Brits have had to cut back on non-essential jobs. A quarter (26%) added that they have put off some other type of maintenance.

Cleaning out the gutters is the job most Brits delay, according to the insurance comparison site, with 15% seeing it as less of a priority. Yet, blocked gutters can prevent proper drainage and lead to water damage. Other jobs being left include repairing damaged windows and exterior walls, both of which one in nine (11%) Brits have postponed.

Families and those with a lower income more likely to postpone maintenance work

The research also revealed that those supporting a family are more likely to have put their property work on the back burner.

Over half of those with kids said they have had to delay home maintenance tasks because of the cost of living crisis, compared to two-fifths of those without. This could suggest that families are less able to maintain their property due to rising costs.

Those on a lower income are also more likely to have abandoned home maintenance jobs. Just over half of those on a lower income (51%) have put off some form of maintenance work due to the rise in living costs, compared to two-fifths of those on a higher income.

Reassuringly, the study also found that these tasks aren’t being completely forgotten about. Just over a fifth (22%) said they plan to clear out the guttering by the end of summer. A further 13% said they are going to check or repair their windows and doors, while 12% are hoping to check or maintain their outdoor pipes and taps.

One in 10 also stated that they will check or repair their roof, highlighting that while many have had to delay these tasks, they are remaining on their to-do lists.

Nathan Blackler, home insurance expert at Go.Compare, said: “Rising living costs are clearly forcing many households to delay maintenance work in and around their property. Paying for the essentials will always come first but putting off repairs, especially serious ones, can have a significant impact on your safety over the long term.

“Plus, home insurance usually requires you to keep your property in good condition, so your insurer likely wouldn’t accept your claim if things started to deteriorate and you were found to be at fault. Insurance prices have actually dropped recently, too, so comparing now could help you find a cheaper policy. This could give you one less cost to worry about and free up some cash to make those repairs.

“It’s worth exploring the different ways you can make repairs when times are tight. Some jobs will need to be done professionally, so don’t attempt any repairs yourself unless you’re confident it’s safe and legal to do so. Consider contacting Citizens Advice or your local authority if you need help, as they could advise on how you can get support through the provision of things like loans, grants or materials.”

More information about the impact of the cost of living crisis on home maintenance can be found on Go.Compare’s website.

April 17th, 2025 | Andrew Hagger | News

A new study has revealed that women and baby boomers will be the worst impacted by the rise in first-year rates for Vehicle Excise Duty (VED) this year.

If buying habits remain the same as in 2024, men who buy a new car between April and September will pay an additional £55.3 million towards the tax compared to last year, according to the research. In comparison, it estimates that women will pay an extra £62.8 million towards the tax – £7.4 million more than men.

The research comes from Go.Compare car insurance, which reviewed Department for Transport figures on the number of new private vehicles registered in the first half of the 2024 tax year. It applied the old and new first-year rates for VED to these vehicles to estimate how much more new car buyers will pay if buying habits stay the same, and who will be most affected.

The insurance comparison site attributes the difference to men being more likely to buy cars with cleaner fuels. It says that one in 10 men have a battery electric or plug-in hybrid electric car, compared to only 7% of women. Meanwhile, just over two-thirds (68%) of women own a petrol car, compared to 58% of men. As the tax bands are based on CO2 output, this means women are more likely to be hit with higher fees.

Baby boomers will be the most impacted of any generation for the same reason. In total, it’s estimated that baby boomers will be taxed an extra £40.5 million as a result of the changes. Just 6% of baby boomers drive either a battery electric or hybrid electric car, Go.Compare’s survey found, compared to 11% of millennials and 9% of Gen X.

As a result, it’s estimated that millennials who buy a new car between April and September will be taxed an extra £34.9 million after the changes – £5.5 million less than baby boomers. Similarly, Gen X will pay an additional £28.8 million more – £11.6 million less than baby boomers.

Extra cost of first-year VED rates for new car buyers in April to September 2025 by generation

• Gen Z (1997 and later) – £11,348,485

• Millennial (1981-1996) – £34,985,214

• Gen X (1965-1980) – £28,856,779

• Baby boomer (1946-1964) – £40,505,806

• Silent generation (1928-1945) – £2,924,456

Tom Banks, car insurance expert at Go.Compare, said: “Unfortunately, some groups will be worse impacted by the rising VED rates than others, which is mainly down to the type of cars they tend to buy.

“Our figures suggest that a higher proportion of men drive low-emission vehicles, meaning more men fall into the lower tax bands. Similarly, a higher proportion of women drive petrol cars, placing more of them in the higher bands.”

“But crucially, the increased rates mean all new car buyers will pay more this year. To cut these costs, go for a low-emissions car at the showroom if you can, as that will place you in the cheaper tax bands. Or, consider getting a ‘nearly new’ vehicle instead. This will give you that new car feeling for a fraction of the price, and allow you to dodge the increased tax.

“Otherwise, see if there are any other ways you can reduce your motoring spending to make up for the tax increase. For example, comparing car insurance policies might allow you to find a provider that offers the same level of cover for a lower price, and driving more economically could help to reduce your fuel costs.”

To find out more about the rise in first-year rates for VED, go to Go.Compare’s website.

April 16th, 2025 | Andrew Hagger | News

More than 15,000 failed motorbike MOT tests could have been prevented in the 2023/24 financial year, according to new research. Riders are now being urged to perform a few simple checks before their vehicle’s MOT to avoid unnecessary fees.

Around 979,500 MOTs were taken for motorcycles (class one and two vehicles) during this period. DVSA data shows that approximately 85,500 failed – around 9% of the total number. The study calculates that almost £47,000 was spent on MOT retests that could have been avoided with better preparation.

The statistics come from Go.Compare motorbike insurance, which used a combination of survey data and official DVSA testing figures to estimate how much was needlessly lost at testing centres last year. The insurance comparison site states that these failures can be attributed to factors that riders can check and fix at home before a test.

Issues with lamps and reflectors were the biggest reason for avoidable failures, with around 11,440 tests failing due to this issue in the 2023/24 testing year. Tyres caused 2,500 failures in the same period, while vehicle identification led to a further 1,114 failures. Had motorbike owners looked into and rectified these issues sooner, they could have prevented a failed MOT.

Around one in 10 motorists miss the free partial retest window after a failed MOT, says Go.Compare. Assuming the same for motorbike riders, the insurance comparison site calculated that the UK’s riders spent approximately £46,935 on retests that could have been avoided. This is based on the maximum cost for a motorbike MOT of £29.65.

Tom Banks, motoring expert at Go.Compare, says: “Our research shows that thousands of pounds is being wasted on easily preventable MOT failures, but preparing for the test properly can help you to avoid incurring extra costs.

“There are some simple checks that you can perform at home before you book your bike in for its MOT, and they could save you time and money by preventing a failure. For example, make sure your lights are working properly and replace any faulty bulbs, then check the tread depth of your tyres to see if they meet the minimum requirements.

“If your motorbike fails its MOT, don’t worry; you still have a 10-day window to get your bike in for a free retest. If you can get it fixed before this, you shouldn’t need to pay for another test. Remember, your bike won’t be road-legal if it fails its MOT due to a dangerous fault, meaning your insurance will likely become invalid as well. In this case, you’ll need to get the issues rectified before you can ride it again.”

More information on preventing avoidable motorbike MOT failures can be found on Go.Compare’s website.

April 14th, 2025 | Andrew Hagger | News

Birmingham’s residents are set to be hit hardest by rising council tax rates for 2025/26, new research has found. Households across the city will pay an extra £43.1 million this tax year – the largest overall increase of any local authority in England.

The country can expect a total council tax rise of £2.1 billion in the 2025/26 period, with bills soaring for households in some areas. Windsor and Maidenhead residents will experience the largest increase per property, with eligible households seeing a jump of £169.43 compared to 2024/25.

This tax year’s rise represents 29% of the total increase across the last four years. During this period, residents in Birmingham have again seen the largest overall increase, with the city’s total council tax bill rising by £136.8 million since 2022/23.

The study by Go.Compare Home Insurance has revealed the biggest council tax hikes across England, calculating how much more households will pay compared to previous years. Although costs have risen across the country, some areas have seen particularly sharp increases, with bills soaring by hundreds of pounds in some cases.

Analysing official government data, the insurance comparison site found that authorities have raised council tax rates by an average of 4.9% in 2025/26. But, some struggling councils have pushed them higher to cope with financial strain.

The top five largest council tax increases in 2025/26 for eligible properties:

The top five largest average council tax increases in 2025/26 per eligible property:

Nathan Blackler, home insurance expert at Go.Compare, said: “Council tax is an essential household expense, but for many, these rising costs are putting even more pressure on already stretched budgets. If you’re struggling, it’s worth checking if you qualify for council tax reductions or any support schemes in your area.

“At the same time, looking for savings on other bills, like home insurance, could help offset some of these rising costs. Shopping around for a better deal could make a real difference to your monthly outgoings.“

More information about the recent council tax increases, and the council tax calculator, can be found on Go.Compare’s website.

April 9th, 2025 | Andrew Hagger | News

A new study has revealed that lower-earning pet owners could be among those most at risk of having their animal stolen. The results found that nearly a third (30%) of owners on a lower income don’t feel their animal is safe from theft, a sentiment shared by less than a fifth (17%) of higher-earning owners.

The figures come from the latest survey of owners by Go.Compare Pet Insurance, which says these fears may stem from owners having fewer measures to protect against criminals. Higher-earners are much more likely to have safety features like smart home security, GPS collars and pet cameras.

Around 17% of higher-income owners said they have installed smart home security for this purpose, compared to only 8% of those on a lower income. Higher earners are also twice as likely to have pet GPS trackers – 14% of these owners said they have invested in these, compared to 7% of lower-income owners. This suggests that lower earners could be finding it harder to protect their pets because of their financial situation.

As a result of these fears, lower-income dog owners are less likely to let their pet off its lead, implying they feel more vulnerable doing so. Almost half (45%) of these owners said they keep their dog on its leash to protect it from theft, a move made by less than a third (29%) of higher earners.

Older pet owners also feel more at risk of these thefts. Around a quarter (26%) of over-54s stated that they don’t feel their pets are safe from thieves, compared to just under a fifth (17%) of under-35s. Older owners are also less likely to have invested in safety measures like smart home devices, GPS tracking and pet cameras, according to the survey.

Overall, roughly a quarter (27%) of pet owners in the UK are worried about being targeted by thieves, with a similar percentage (23%) stating they don’t think their animal is safe from theft.

Owners taking steps to keep their pets safe

One of the most common steps owners take to prevent theft is refraining from posting their pet on social media, something a fifth (21%) of all owners do. A similar amount (18%) have fitted a higher fence in their garden to reduce the chances of their pet escaping, and 16% have invested in smart home security.

In response to the statistics, Go.Compare is offering a free Ring Indoor Camera to those who buy selected pet insurance policies. To qualify for the offer, owners need to purchase a cat or dog Lifetime, Max Benefit or Time Limited insurance policy from Animal Friends through Go.Compare between 4 March 2025 and 30 April 2025 (dates inclusive).

Rhys Jones, pet insurance expert at Go.Compare, said: “Pet owners shouldn’t feel more vulnerable to theft just because of their financial situation, so we’ve partnered with Animal Friends to offer a free Ring Indoor Camera for those who buy selected policies. These can be really helpful for keeping an eye on your pets and, alongside other measures, reduce the risk of theft.

“Things like changing up your walking route and refraining from posting your pet on social media can stop you from becoming a target. Thieves are also less likely to steal cats that are spayed or neutered, as it means they can’t make money from breeding them, so try to include this information on an ID tag if your cat has had this procedure. Keeping your dog on a lead and accompanied in public will also help.

“If you’re unfortunate enough to have your pet stolen, report it to the police straight away. Make a note of your crime reference number, as around 87% of pet insurance policies cover theft and they might ask for this if you want to make a claim.

“If your pet is microchipped, contact the microchip database to see if they can help. Finally, you can also inform your local council and spread the word on noticeboards at vets, parks and online to improve your chances of getting your pet back.”

Find more information on protecting pets from theft on Go.Compare’s website, and find full details of the free indoor camera offer here.

April 8th, 2025 | Andrew Hagger | News

American Express is offering UK Cardmembers the chance to stay and save with the launch of its latest ‘Amex Stays’ Offer. From 7 April to 1 June 2025, eligible Cardmembers¹ can receive £75 back in a statement credit when they spend £300 (in one transaction) at selected hotels.

Cardmembers can choose from an impressive array of five-star and premium hotels from 56 participating hotel brands primarily located in London as well as popular European locations including Barcelona, Rome and Lake Como. Hotels include Hotel Café Royal, The Carlton Tower, Hotel Villa Honegg, Sea Containers, The Kensington, One Aldwych, Almanac Barcelona, L’AND Vineyards and Vista Lago di Como.

Eligible Cardmembers can take advantage of this offer once per Card and it applies to payments made online directly on the relevant hotel website or in person at participating locations. A full list of participating brands, hotels and location eligibility can be found here.

Cardmembers simply need to save the offer to their Card via the Amex^® App or online at Americanexpress.com where they can also browse dozens of other shopping, travel, and entertainment offers. The offer will be on display for eligible Cardmembers and the £75 statement credit will be applied to their Card Account after they spend.

To take advantage of this offer Cardmembers must book and pay by 1 June 2025. The spend must be billed to their Card Account by the offer end date to be eligible.

Dave Edwards, Vice President, American Express, commented: “With the warmer months approaching, Brits are gearing up for their travel adventures both home and abroad. Whether it’s a city escape or relaxing weekend retreat, our Cardmembers can enjoy significant savings on their next break with a wide selection of premium hotels to choose from. With over 56 globally acclaimed hotel brands participating, Amex^® Cardmembers have the opportunity to explore and experience the best that London and Europe have to offer.”

April 3rd, 2025 | Andrew Hagger | News

With only a couple of days to go until the tax year end, Leeds Building Society has launched a new Branch Access Cash ISA at 4.35%.

The changes will make the Society’s branch member Cash ISA one of the top paying accounts on the market.

The rate improvements from Leeds will come as good news for those looking to deposit funds.

1 Year Double Access Cash ISA

• 4.35% Tax free p.a./AER variable
• Matures 1 June 2026
• Two withdrawals per calendar year
• Minimum operating balance £1,000
• Up to £20,000 can be paid in for the 2024/2025 tax year with unlimited transfers from previous years’ ISAs
• Available in Leeds Building Society branches or post only

As we approach the tax year end, savers will be looking at their accounts to ensure their money is working as hard as possible for them. To help work out how much savers could be earning, they can use an online savings calculator to find the best product to suit their needs.

Catherine Wray, Senior Manager for Savings at Leeds Building Society, said:

“Cash ISAs remain very popular with our members. In 2024, we saw a huge increase in demand for cash ISAs, and new ISA account openings were four times higher than in 2020.

“Many savers value face-to-face service and we hope this account will be popular among those who prefer to manage their money at a local branch.

“The potential changes to the current £20,000 annual allowance on Cash ISAs underlines the importance of people reviewing their savings. It’s crucial that savers don’t overlook the opportunity to open new ISA accounts or transfer their existing savings into another Cash ISA before the tax year ends.”

Last month it wrote to the Chancellor of the Exchequer to highlight the concerns of the Society and its members regarding the potential cut in annual allowance, warning it could lead to increased tax bills for savers and mortgage repayments for borrowers.

In 2024, Leeds Building Society generated the equivalent of £175million in extra interest for members, as a result of paying 0.79% above the market average rate

April 1st, 2025 | Andrew Hagger | News

The end of the financial year is a month away, and Hodge is offering their top tips for getting the most out of your ISA.

As the end of the tax year approaches, now is the perfect time to make sure you’re maximising your Individual Savings Account (ISA) allowance.

These tips come after a significant increase in searches for ISAs, which saw an increase of 100% in February according to Google Search Data.

With just a few weeks left, Christie Cook, Managing Director of Retail at Hodge is here to offer expert tips to ensure you’re making the most of your ISA and taking full advantage of tax-free savings opportunities.

• Use Your Full Allowance

“The annual ISA allowance for the 2024/2025 tax year is £20,000. If you haven’t already reached this limit, now is the time to top up your account.

Whether it’s through a Cash ISA, Stocks & Shares ISA, or Innovative Finance ISA, ensuring you fully use this allowance could result in significant tax savings.”

• Consider Moving Funds

“Following the previous tip about maximising your savings by using your full ISA allowance, if you’ve been holding cash in a non-ISA account, consider transferring it to your ISA to benefit from tax-free interest or capital gains.

This will allow you to gain more interest on the money you’ve been storing, by reaping the rewards of tax-free interest.”

• Don’t Forget About the Benefits of a Stocks & Shares ISA

“For those with a longer investment horizon, a Stocks & Shares ISA could provide higher growth potential compared to a traditional Cash ISA. By investing within an ISA, any returns are tax-free, giving you the opportunity to build wealth over time without worrying about capital gains tax.

Additionally, the tax-free nature of an ISA allows your investments to grow unhindered, potentially compounding over time. This makes a Stocks & Shares ISA an excellent option for those looking to build wealth over the long run, especially for retirement or other long-term financial goals.”

• Review Your Current ISA Strategy

“It’s always a good idea to review your ISA portfolio before the end of the tax year. Our recommendation is to assess whether your current ISA investments are aligned with your goals and risk tolerance.”

• Plan for Next Year

“If you’re unable to reach your £20,000 limit this year, our tip is to start planning ahead for the following year.

Setting up regular contributions could help you maximise your ISA contributions throughout the next tax year, ensuring consistent growth of your tax-free savings.”

As the end of the tax year approaches, now is the perfect time to review and maximise your ISA contributions. Whether you’re looking to boost your savings in a Cash ISA or explore higher growth potential with a Stocks & Shares ISA, taking action before the deadline can help you make the most of your tax-free allowance.

April 1st, 2025 | Andrew Hagger | News, Uncategorized

Council tax bills in England have risen by almost £7.3 billion over the past four years, according to new research into the increase in tax rates. Birmingham has seen the largest jump in costs across all eligible properties, totalling an extra £136.8 million during this period.

The study uses newly released council tax rates for 2025/26 to calculate the additional cost to residents across the country. This is based on households that pay the full tax amount. Croydon has experienced the highest increase per property since 2022/23, with eligible residents seeing an increase of £616.63.

Local authorities have raised rates by an average of 4.9% this year, but some have exceeded this due to financial difficulties. To help households understand how these increases affect them, Go.Compare Home Insurance has created a council tax calculator that allows users to see how much their bills will rise compared to 2024/25.

The insurance comparison site found that one in three councils in England has raised the tax by more than 5%. Struggling authorities like Bradford (9.29%) and Windsor and Maidenhead (8.31%) are among those with the biggest price hikes, adding financial pressure to millions of households in these areas.

The increases are largely due to rising costs for social care, housing, and other essential services. Councils facing financial shortfalls are under pressure to boost revenue, leading to higher tax rates.

Nathan Blackler, home insurance expert at Go.Compare, said: “With council tax bills rising once again, many households are feeling the strain of ever-increasing living costs. If you’re struggling with rising prices, it’s worth checking whether you’re eligible for any discounts or support schemes where you live. You can also use our council tax calculator to see how much your local rates have changed compared to last year.

“With essentials going up, it’s more important than ever to make sure you’re getting the best deal on all household expenses, including home insurance. Shopping around for a better policy or adjusting your cover to suit your needs could help you free up some extra cash.“

More information about the recent council tax increases, and the council tax calculator, can be found on Go.Compare’s website.