Martin Lewis: Money Saving Expert on which UK mortgage to get amid Brexit uncertainty

A journalist and broadcaster, as well as the founder of the website MoneySavingExpert.com, Martin Lewis often appears on the small screen offering viewers his latest money saving advice. Tonight was no different with the 46-year-old financial guru starring in his self-titled programme, The Martin Lewis Money Show: Live, alongside Angellica Bell. The topics of tonight’s instalment were certainly varied, with Brexit being the key theme. One subject which the TV regular addressed was getting a mortgage amid the UK preparing to depart from the European Union (EU).

Opening the show, Martin explained that he couldn’t be sure as to what would happen if the UK left the EU.

“Look, the honest answer is no-one knows the impact on the economy,” he said.

During the episode, Martin sought the opinion of MPs, including Jacob Rees-Mogg, Jeremy Corbyn, and Chuka Umunna, on the matter.

And, he also answered questions from viewers about whether a two-year or five-year mortgage would be more beneficial for house buyers in the current climate.

First, the Money Saving Expert touched on the uncertainty felt by many Britons in the UK at the moment.

“A fix is what gives you certainty,” he reminded viewers.

“I don’t think rates are going to drop that much, but they could go up.”

So, would a five-year mortgage be better than a shorter-term option?

The broadcaster sought advice from mortgage expert Roy, who said: “[I would choose] five years provided I wasn’t going to move in five years.”

“I would even think about a 10 year fix,” Roy added.

Should you be unsure about which mortgage to get, Martin recommended seeking the advice from a mortgage broker – or to go to a comparison site.

“Go to a mortgage broker if you don’t know what you’re doing,” Martin said, and later added: “Otherwise go to a comparison site.”

The broadcaster also spoke out about the recent energy price hikes, which rose for many people due to the increase of the energy price cap on April 1.

Earlier this week, Martin appeared on This Morning, where he discussed how parents or guardians can get an additional £2,000 per child to spend on childcare.

The top tip meant those eligible could get access to the tax-free funds for free.

Martin said: “One and a half million families are eligible for a free £2,000 per child to help with childcare costs, but only one in six families have signed up to get it.”

The Martin Lewis Money Show: Live will be available to watch on the ITV hub.

source: express.co.uk