Martin Lewis: Save up to £400 on your energy bill with this clever trick

Martin Lewis appeared on ITV’s The Martin Lewis Money Show this evening. On the programme, the Money Saving Expert discussed how Britons can benefit when it comes to energy bills. Lewis revealed that it’s not necessary to switch energy companies to make the most of deals.

“Now, you can’t ask them to switch to them, you have to this via a comparison site,” explained Lewis,

What’s more, existing customers are allowed to do to it, too.

“If you’re one of those people who always says ‘I don’t want to switch firm’…” said Lewis.

“I’m getting notes from people who are saying, ‘Thanks for telling me, I’ve just moved from British Gas to British Gas and saved £400 a year.’”

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However, Britons are advised by the expert to act sooner rather than later.

“I don’t know how long those are going to last so get on it quick,” he said.

The lower prices from the Big Six are thanks to wholesale energy prices (that energy firms pay) dropping in the last couple of weeks.

Lewis didn’t just cover energy bill savings on The Martin Lewis Money Show today.

He also revealed how Britons can make £175 free cash before Christmas by switching banks.

According to Lewis, there are three banks which are currently providing people with the best perks of switching.

If one switches to HSBC’s Advance account – one can get a free £175 “up front,” said the expert.

Over at M&S Bank, one can get a free £100 M&S gift card by switching, plus a possible £80 gift card.

If one switches to First Direct, they are currently offering a free £50 cash bonus.

However, Lewis’ main topic tonight on the show was Help to Buy ISA versus Lifetime ISA.

He said: “The LISA is bigger, you can put more money in but [it’s] rigid. The Help to Buy ISA, you can put less in, but it acts faster and it’s much more flexible.

“Specifically, get a LISA if you’re aged 18 to 39, will definitely buy a qualifying property (that’s one under £450,000 and you won’t buy within the first year – because then you won’t get the bonus if you did it early.

“The Help to Buy ISA, well it’s good if you’re younger or older, you’re going to buy a property under £250,000 – or £450,000 in London, you need to buy quickly because it works after just three months, and crucially if you’re not 100 percent sure you’re going to buy a qualifying property, go for the Help to Buy ISA because then it’s a no brainer.

“You can take your money out with no penalty and the interest is decent.”

source: express.co.uk