Archive: MoneySavingExpert's Money Tips Email

New! Play Freebie Roulette
Spin the reels to find a freebie | Nappies, gym passes, perfume; all available free on the web

We love freebies. Our Freebies, Freebies, Freebies guide lists 100s of giveaways, from MP3s to tea samples - on top of the one-offs in this email. We've fully updated it & added a doozy of a new tool ...

• Play freebie roulette. If you don't want to scroll through hundreds, why not take a chance and spin our new Freebie Roulette machine to see what it stops on? Yes, we know it looks like a fruit machine, but calling it the 'freebie one-armed bandit' didn't fit.
• Freebies, freebies, freebies. Companies dole 'em out to promote products, or build goodwill. The Freebies guide includes pet food, recipe booklets, energy-saving gadgets and even biodegradable golf tees.
  
• Free £90 gift card or biz class Europe returns. While the freebies guide lists treats, samples and goodies, the biggest are with credit cards - here you sign up for a card, spend (sometimes just once), repay in full so there's no interest and you're quids in. These include biz class Europe returns, £90 gift cards and more - see the Credit Card Freebies guide. Also check out the Free Gym Passes, Free Anti-Virus Software, Free House Price Valuations, and Free Office Software guides for more free stuff.
• Freebies Forum. If you've a lust for giveaways, the ultimate treasure trove is our forum's Freebies (no spend) board, where thousands of freebie hunters swap top finds. There's also the Freebies (low spend) board for goodies where you need to send a text, SAE or buy a magazine.

All the freebies you want in the Updated Guide: Freebies, Freebies, Freebies Related: Tips, Tricks & Treats

New. Cheap PREPAY meter gas & electricity
Up to 19% hikes likely to hit all | Prepay costs more & offers less choice | New guide to save £100s

Those with prepayment meters, whether card or key, have far fewer options to save and usually pay more. It's disgraceful as many of society's poorest are stuck on them. So with prices continuing to rise, our new Prepay Energy Savings guide is designed to help you fight back. Here's a brief summary.

• Can you switch to a credit meter for free? They measure usage, after which you're sent a bill. These far undercut prepay and allow more choice, such as fixed rates (see Cheap Gas & Elec). Even pre-hikes, the cheapest prepay is £1,060/yr for a typical home compared to £940 for the cheapest credit meter tariff. Some providers will move you to a credit meter for nowt if you meet their requirements. If not, consider swapping to a supplier that'll do it free (though remember it's not a given). Full help and providers' charges in the guide.
• Find the cheapest prepay deal. The avg prepay tariff for a typical home is £1,280/yr, the cheapest £1,060, so those sticking with prepay can often still save. Use a comparison site to find your cheapest (and freebies on top if they can switch you) Top Comparison: Energyhelpline* pays £15 cashback per switch. Dual fuel: MoneySupermarket* pays £30 cash, Uswitch* a crate of wine, SimplySwitch* £40 cash (cashback only via these links, not direct).
• Factor in price hikes. When you get your comparison result, be aware British Gas, Scottish Power and Scot & Southern Energy rates include their announced price hikes. EDF, Eon or Npower haven't yet announced hikes but are expected to - you may want to wait till they have so you're not jumping from the frying pan into the fire.
  

FULL details and more ways to save in the New Guide: Cheap Prepay Energy Related: Cheap Gas & Elec, Free Solar Panels

Mortgage rates drop to record lows
5yr fixes as low as 3.49% | Some brokers say further falls possible | Check your mortgage deal now

Typical mortgage rates have fallen to their lowest level since records began, according to Moneyfacts, with average two-year fixes now 4.28%. So it's a great time to check your mortgage to see if you can save. Remember, for every 1% rate reduction, you repay £80 less per month, per £100,000 of mortgage. Here are some quick tips.

• How low are rates? The best buys include a 2-yr fix at 2.54%, a 5-yr fix at 3.49% and a 2-yr tracker (which moves with base rate) at 1.99%. All have c. £1,000 fees. (see Mortgage rates plummet).
• Rates aren't everything. While rates have dived, average application fees have risen to a whopping £1,002. Use the Ultimate Mortgage Calculator to check the impact. Plus if you're within your fixed or discount period, switching will probably incur substantial penalties that usually eat up the gains, and more.
• Rates are low, but deals are tough to get. Easy credit mortgages are a thing of the past. To get a deal you need a loan-to-value rate under 90% (a 10%+ deposit), and for hot rates, under 75% LTV (a 25%+ deposit), and a virtually spotless credit history. The self employed usually need at least 2 yrs' accounts.
  

• Should you fix now? Whether to fix at all is about how important guaranteed repayments are versus riding the market with a tracker. At the moment, fixes are super-cheap, so you could go for the bird in the hand, yet some pundits predict they'll get even lower, so waiting may help. Without a crystal ball, it's impossible to know.

• Free, Printed MSE Mortgage Help Booklets. We've two 40-page booklets worth reading. Those with existing mortgages, get the Remortgage Guide: Instant PDF or order printed version. Or for newbies, the New Mortgage Guide: PDF or printed

Related: Boost Credit Rating, Cheap Mortgage Finding, Mortgage Calculator

New top fixed savings - up to 4.75%
Lock in with new best rates for 1, 3 and 5 years - top fixed ISAs too

Many pundits suggest the base rate may stick at its record 0.5% low for longer. If so, and you're prepared to lock cash away, fixed deals look more attractive, especially as top rates have crept up recently. All below have full UK £85,000 per person, per institution protection.

• Top fixed savings and cash ISAs. Fixed savings promise to pay a set rate, but you can't touch the cash within that period. Remember, the longer you fix for, the bigger risk other savings rates will rise, making yours look poor.
  
  Cash ISAs are just tax-free savings accounts over-16s can save up to £5,340 per tax year in. Under ISA rules though, fixes must allow withdrawals, though providers charge hefty interest penalties if you do so:

• New top 3.11% easy access. If you may need access, the top-paying instant access savings deal is Derbyshire Building Society's Netsaver paying 3.11% AER which allows unlimited withdrawals. The top cash ISA is Santander 3.3% AER. Both include 1yr + intro bonuses, after those, the rates plummet so diarise to ditch and switch then.

For ALL top rates, see Updated Guides Top savings, Cash ISAs, ISA Transfers, Safe Savings

New cheapest loan since 2008, 6.5% APR
Rate war continues | Better still, find TRUE RATE before applying

Loan rates have plummeted. Just six months ago there was nothing under 7%, now we've a rate war. Nationwide's dropped rates again, in response to a cut by A&L, and its unique 'know the rate before applying' means it won't unnecessarily hit credit files. Only get new debt if you need it, keep it small, repay as quickly as poss and budget to ensure it's affordable.

• 6.5% loans above £7,500. Borrow £7,500-£15k and Nationwide's* now 6.5% representative APR for existing FlexAccount customers and 6.6% rep APR for everyone else, as is Alliance & Leicester*.
  
  Yet these are representative APRs so only 51% of accepted applicants get them, the rest pay more. Normally, the only way to know the rate is to apply, and that marks your credit file, which can hit future applications. Uniquely though, Nationwide gives a 'quote without commitment' that doesn't mark credit files, so you know the rate before formally applying.
• Cheapest £5,000 - £7,500 loans. If you've a Nectar card, Sainsbury's* is 8.1% representative APR for 1-3 year loans or 8.2% for 4-5 years. Otherwise, it's 8.3% rep APR with Santander* or Alliance & Leicester*. These are all representative rate. Full info & best-buys in Cheap Loans.
• Cheapest loan for smaller amounts is a 0% credit card. Borrow a lower amount and rates shoot up, even the cheapest £2,000 loan is 18.6%. Counter-intuitively, credit cards are cheaper, provided you keep repayments up.
  
  If you're borrowing for something that can be paid on plastic, new Marks & Spencer* and Tesco* customers get 15mths' 0%. After, rates jump to 15.9% and 16.9% rep APR, respectively, so try to repay or Balance Transfer before. If you need cash, there are ways to do that cheaply - see Cheap Credit Card Loans.

FULL loan rate, info, calculators and more in the Updated Guide: Cheap Loans Related: 0% Cards, Balance Transfers, Official Card and Loan APR examples