New Adventures

Apologies for the radio silence over the last couple of weeks, we have been achieving one of our life goals, moving to Norway! This has been a long term life goal, obviously backed up with a financial goal and plan. This is what I love doing for my family and my clients, getting money to support life goals.

The joy of my work is that I can continue to support my clients from wherever I am, all I need is my laptop and my brain 🧠 😄 

So what’s the latest finance news that you need to know about:

🔍 Economic Snapshot: Growth Amid Inflation Concerns

• GDP Growth: The UK economy expanded by 0.7% in Q1 2025, surpassing forecasts and indicating potential recovery momentum.

• Inflation Uptick: Inflation rose to 3.5% in April, up from 2.6% the previous month, driven by increased costs in energy, water, and packaging taxes.

• Interest Rate Adjustment: The Bank of England reduced the base rate to 4.25%, marking the fourth cut since 2020, aiming to support economic growth.

🏡 Housing & Mortgages: Easing Pressures

• Mortgage Rates: Cooling inflation has led to a gradual decline in mortgage rates, with projections suggesting a drop from 4.8% to below 4.0%.

• Housing Market: Average property prices have hit record highs, but the market shows signs of stabilisation, offering potential opportunities for buyers.

💡 Energy Costs & Support Measures

• Energy Price Cap Reduction: Ofgem announced a 7% cut to the energy price cap for July-September, lowering average annual bills by £129 to £1,720.

• Continued Challenges: Despite the reduction, energy costs remain significantly higher than in 2019, continuing to strain low-income households.

💰 Savings

• Savings Account Rates: Building societies and banks are reducing interest rates on savings accounts following the base rate cut.

Planning Tip: With inflation on the rise and interest rates on cash products being cut, it's crucial to review your budget and consider inflation-protected savings or investments.

Investment Markets This Week:

Best Cash Savings Rates This Week