Martin Lewis quite literally put his head in his hands during Tuesday's edition of The Martin Lewis Money Show. The journalist and money guru, 50, was giving his best Cost of Living hacks during the episode, which aired on ITV1 on February 7.
During the live show, Martin addressed support payments that people have been receiving. "That long promised £200 energy support cost of living payment was started to be paid out yesterday and I'm told it should finish being paid out this month," he explained. "It is automatically paid through your electricity supplier unless your fully off grid and don't have electricity, in which case, you will need to apply later in February. Those on pre-payment you'll get vouchers. They'll email you, they'll post it or they may text you about it so watch out for that."
When hearing that some households are yet to receive the payment, Martin fumed: "So many people haven't redeemed their vouchers on the £400 on pre pay. 20% of often the most vulnerable people haven't redeemed them and it's absolutely tragic for October and November."
Read more: Martin Lewis issues advice on how to avoid huge 14% mobile phone bills rise in April
The money wizard then issued a warning to one caller, Kayleigh, who said that her fixed-rate mortgage was set to end in December. She asked: "Is it best to fix again or go into variable to see if the rates come down?"
"I've been quite concerned over recent months as many people have got in touch with me and said am I doing this until rates go back until the cheap rates we have had," Martin replied, "I need to be very plain. If you're under 35 you might not realise that the rates we had from 2008 until last year, they weren't low. They were limboing well below the prior 300 year historic lows for interest rates. We have lived through an anomaly time so there is absolutely no rule that says things must go back to how they were. I'm not saying they won't, but there is no rule that it must."
As well as addressing how those with mortgages can negotiate their next deal, be it through a tracker or a fixed rate deal, Martin also talked about rental rates - and rights - for tenants, house prices and interest rates. The ITV Martin Lewis Money Show is available to stream on ITVX. To get all the latest money-saving news straight to your inbox twice a week sign up here.
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