Lucy Andrews

Dec 6, 2024 | thetimes.com | Lucy Andrews

Scott Daniels has picked up an extra 50 hours of work in December — not because he needs the money for Christmas, but so that he can afford to pay his mortgage. Daniels’ five-year fixed-rate ended this month and he has rolled on to his lender’s much more expensive standard variable rate (SVR). “The mortgage bill has skyrocketed,” said Daniels, a police officer from Romford, east London. The rate on his old five-year fix with Santander was 3.39 per cent, and his monthly repayments were £1,200.

Nov 29, 2024 | thetimes.com | Lucy Andrews

The changes to inheritance tax announced in the budget have sparked demand for life insurance policies among families seeking to protect their wealth. Inheritance tax (IHT) was originally devised as a tax on the rich, but the number of families facing a bill has grown as property prices have risen. This is set to increase further, thanks to the government’s latest tax raids. IHT is charged on the value of your estate when you die.

Nov 23, 2024 | thetimes.com | Lucy Andrews

It is one of the biggest shopping events of the year, promising thousands of discounts on everything from AirPods to Le Creuset sets in the run up to Christmas. Shoppers bagged almost ten million Black Friday deals last year — but not at all turned out to be the bargain they first appear. The big day is this Friday, but retailers are already in full swing, reducing prices in the anticipation that we will spend £336 million (according to Nationwide Building Society estimates).

Nov 22, 2024 | thetimes.com | Lucy Andrews

When Charlotte met her ex-husband 20 years ago, they had many things in common. They loved running, rock climbing, and going to the cinema together. One thing they didn’t share was Charlotte’s £32,000 nest egg. “He never knew about these savings — not because I kept it hidden on purpose, but because we never discussed our finances,” said Charlotte (not her real name), 52, who works in the tech sector. “My view was that I had worked hard to save that money and it was mine.

Nov 16, 2024 | thetimes.com | Lucy Andrews

Thousands of families are set to be stung by a “nanny tax” that will add more than £1,000 a year to the cost of childcare. There are 18,000 nannies and au pairs working in the UK, according to the latest official statistics. But hiring a nanny isn’t simply a case of paying a monthly wage — anyone who hires help, be it from a nanny, cleaner or gardener — is likely to be classed as an employer. And this comes with responsibilities.