Essential reads
- How you could save 105 teaspoons of sugar (and money) by switching to classic ice cream this summer
- A week when probable future of mortgage rates became clearer
- Savings Guide:What to look for with 5% rates still available on easy access accounts
- Women in Business: How accident in cafe and £400 turned into a genius business idea that's about to go global
- Money Problem:'I bought a new car but it's been back to dealership six times with same fault - what can I do?'
- Best of the Money blog - an archive
Ask a question or make a comment
The 'disruptive' ingredients added to ice cream - and how you could save teaspoons of sugar by switching to old favourite
It can be hard to balance the demands of eating well without spending a lot.
In this series, we try to find the healthiest options in the supermarket for the best value - and have enlisted the help ofSunna Van Kampen, founder of Tonic Health, who went viral on social media for reviewing food in the search of healthier choices. We also speak to dieticians each week.
It's important to note from the outset that in this series, we don't try to find the outright healthiest option, but help you get better nutritional value for as little money as possible.
With the weather finally getting warmer, this week we're looking at ice cream.
"With so many options out there, how do you fancy a 63% reduction in your sugar consumption and some savings for your wallet too?" says Sunna.
What's in our ice creams?
"Technically speaking, ice cream is just frozen milk and cream with a bit of added sweetness," Sunna says.
But as time has gone on, we've progressed to less and less cream and more and more sugar.
"To give you an example, Mars Bar Ice Cream is only 31% milk and cream, while the traditional Mackie's ice cream is 81% milk and cream," Sunna says.
"When you remove the cream, quite clearly you lose a lot of the creaminess and smooth texture, so manufacturers have turned to gums (like guar gum, locust bean gum, tara gum) to give the creaminess while lowering cost," he adds.
"The problem is some of these gums have demonstrated to be gut disruptive and hard to digest."
How much sugar can we eat?
The NHS recommends adults have 30g of sugar a day, with that decreasing to 24g for seven to 10-year-olds and 19g a day for four to six-year-olds.
"A cut in sugar is not just good news for our waistlines, but also for our overall health, contributing to a balanced diet without the same spikes in blood sugar levels," Sunna says.
Those spikes can cause sudden drops in energy, spates of hunger and potentially lead to type two diabetes.
How much sugar is in ice cream?
Let's look at some popular examples to compare the sugar content and the impact on your wallet...
- Cadbury Flake 99: £4.25 for 4x125ml and 22.9g sugar per ice cream (5.5 teaspoons)
- Magnum: £3.25 for 3x100ml - 20g of sugar per ice cream (five teaspoons)
- Solero Exotic: £2.75 for 3x90ml - 12g of sugarper ice cream (three teaspoons)
- Mars Ice Cream Bars: £2.75 for 4 x 49.5ml - 12g of sugar per ice cream (three teaspoons)
- Cornetto Classic: £3.50 for 6x90ml - 10g of sugar per ice cream (2.5 teaspoons)
- Milk Choc Ices: £1.60 for 6x70ml - 7.3g of sugar per ice cream (under two teaspoons)
"Assuming you have one ice cream a day across, hopefully, 30 days of sunny weather this summer, and you'll find yourself saving over 105 teaspoons of sugar from your diet this summer if you choose a Choc Ice over a Cadbury Flake 99," Sunna says.
That's a decent saving for your health - but what about your wallet?
"Choc Ice is firmly in the category of win-win, as it's 65% cheaper than a standard Magnum," he adds.
That's a considerable £24.30 saving over 30 ice creams.
The nutritionist's view - fromNichola Ludlam-Raine, dietitian atnicsnutrition.com...
"Shop-bought ice cream isn't a product that I recommend having daily, and luckily for the UK population this isn't something that is too hard to stick to, given the distinct lack of sunny, warm weather.
"I recently had a Mars ice cream and although I really enjoyed it. I needed two to feel satisfied, as they were so small - which doubled my sugar intake (to 24g).
"The good news, though, is not all the sugar quoted on the label is free or added sugar (and under 30g a day of this is acceptable within the context of a healthy balanced diet), as some sugar will be naturally occurring in the milk.
"Choosing ice creams where milk is the first ingredient is always preferable - or plant-based/fruit-based alternatives if you have a milk intolerance or allergy.
"The evidence regarding thickeners and emulsifiers on gut health is still in its infancy, and most of the studies are small and have been done on rodents, with relatively large amounts of the additives being used.
"Some emulsifiers may also confer benefits due to their prebiotic effects - but with gut health, the key is to add in more fibre, natural colour and plants."
Read more from this series...
A week when the probable future of mortgage rates became clearer
Every week we take an overview of the mortgage market with industry experts, while the guys at Moneyfactscompareround up the best rates...
We start this week with the exclusive interview Sky News' Ian King conducted with the chief executive of Lloyds Banking Group - the UK's biggest lender.
Charlie Nunn warned homeowners not to expect a return to the ultra-low interest rates seen for most of the last 16 years.
"We've just come off a decade where mortgages have been in the 1.5-2.5% range," he told King.
"The expectations the market have is that interest rates probably won't get below 3.5%. And that means mortgages, or the new normal for mortgages, will be in that 3.5-4.5% range, not 1.5-2.5%."
Mr Nunn's comments earned applause from brokers and mortgage experts, with the industry news service Newspage speaking to a range of voices...
"I agree with Charlie Nunn: ultra-low interest rates are history. The public is adjusting to the new normal of 3.5% to 4.5% mortgage rates. Nunn's comments highlight market reality and urge borrowers to adapt now."
Ranald Mitchell, from Charwin Private Clients
"If you're a first-time buyer, you may not see ultra-low interest rates in your mortgage lifetime. But that doesn't mean a return to good interest rates isn't possible. We should see rates beginning with a 3 or even a 2 in the not-too-distant future, especially for those with good deposits or equity."
Ben Perks, from Orchard Financial Advisers
For now, the focus of many mortgage holders has been on when the Bank of England will start easing rates from the current 16-year high of 5.25%.
June had been touted but this month's meeting came and went without a change - and the delay means more people coming off mortgages secured in the ultra-low era are facing significant hikes.
About three million UK households are still set to witness hikes in their mortgage repayments over the next two years, the Bank has said this week.
Its Financial Policy Committee (FPC) added there were likely to be "very large increases" of more than 50% for the mortgages of around 400,000 households.
At the moment, around 35% of households with mortgages, or more than three million, are paying below 3% for a range of reasons - like existing deals which pre-dated the recent crisis - and are expected to see an increase between now and the end of 2026.
A typical household rolling off a fixed-rate mortgage before the end of 2026 is due to face a jump of around £180 a month, the committee said.
There has been some good news for borrowers this week though, with a handful of major lenders cutting rates in response to falling swap rates (these dictate how much it costs lenders to lend).
"Fixed rate mortgage reductions from prominent lenders such as Barclays and HSBC dominated coverage this week, as last week’s inflation announcement continued to prompt speculation of an imminent cut to base rate," says Caitlyn Eastell from Moneyfacts.
Turning to the best deals currently on the market, Ms Eastell says the lowest two-year fix for first time buyers with a 5% deposit comes from Halifax.
Priced at 5.63%, this deal has a £999 arrangement fee and offers a £250 Green Home cashback incentive to those purchasing eligible properties.
Moneyfacts also rounds up the best overall deals - looking beyond just the headline rate.
Ms Eastell adds: "As a first time buyer, every penny counts and you may have already exhausted your savings building up a 5% deposit, as well as covering legal fees and removal costs.
"It's important to consider the true cost of any deal you commit to, so if you are looking to save on the upfront cost of your mortgage, then a Best Buy mortgage may be a more cost-effective choice.
"This week,Hanley Economic BStakes one of the top spots of our Best Buy tables for a two-year mortgage. Priced at 5.69%, it offers a free valuation and £250 cashback incentive."
Bank of England likely to cut rates in August, economist predicts
There could be good news on the horizon for borrowers, as an economist says the Bank of England is likely to cut interest rates in August.
Michael Saunders, a former member of the Monetary Police Committee (MPC), said the Bank has "clearly signalled" it wants to cut rates soon "if data are okay".
He told the Reuters Global Markets Forum that inflation and wage figures would need to align with the MPC's forecasts back in May.
"If so, I would expect the rest of the internal [members of the MPC] to move as a bloc to vote for a cut," he said, saying that markets had been given enough warning.
The BoEheld interest ratesat 5.25% for the seventh time in a row last weekdespite inflation falling to its target of 2%.
Mr Saunders predicted that the Bank would slash rates seven times in increments of 25 points by the end of next year, bringing the headline rate "close" to what he calls a neutral rate of 3.5%.
"I expect two to three cuts this year, the rest next year - again, depends a bit on the monthly data," he said.
Digital ID apps approved for age-restricted purchases
The government has accredited three new forms of ID for purchasing restricted goods and services.
Lloyds Bank Smart ID, Post Office EasyID and Yoti ID can now be used to watch age-restricted films in cinemas, enter gambling premises, or pay for tattoos and tanning salons.
They cannot be used to buy alcoholic drinks in pubs and shops, but are recognised when buying alcohol online, along with tobacco, vapes, lottery tickets and fireworks.
"More UK businesses can now accept our Digital IDs to reduce the risk of fake IDs, increase compliance and improve the customer experience," saidRobin Tombs, CEO of Yoti.
He said more than four million people have already downloaded a Digital ID app.
"This is a strong sign that people are ready to embrace reusable Digital IDs and want a more secure, private and convenient way to prove who they are."
Each of the Digital ID apps includes the approved PASS hologram.
Late drivers can park their worries about fines - for a few more minutes, at least
Most of us know the feeling of rushing back to your car when you realise your ticket is about to run out.
The good news is, new rules mean you won't have to race back quite as breathlessly in future.
Drivers are to get a 10-minute grace period when their time runs out at private car parks.
The changes are coming in after industry bodies the British Parking Association (BPA) and the International Parking Community (IPC) published a new code of conduct.
However, the AA said it still leaves room for drivers to be ripped off because it misses out "desperately needed" measures such as a cap on charges.
Read the full story below...
Tesla recalls thousands of Cybertruck vehicles over safety fault
The electric carmaker Tesla is recalling more than 11,000 of its new Cybertruck vehicles after safety regulators found a potentially dangerous fault with its giant windscreen wiper.
The US National Highway Traffic Safety Administration also said a trim in the boot may be improperly attached.
"Excessive electrical current can cause the front windshield wiper motor controller to fail," the safety administration said in a recall acknowledgement letter.
Tesla said it would replace the wiper motor at no cost to owners.
It comes after nearly 4,000 Cybertrucks were recalled in April to fix an accelerator pedal pad that could come loose.
Mass production of the vehicle, which starts at a price of $79,990 (£63,130), is expected to start next year.
It's not yet known how many trucks have gone to consumers, but the Blade Runner-inspired car has been plagued by problems.
27 areas where Aldi wants to open new stores as a 'priority'
Is your area crying out for a new supermarket to broaden your options and push prices down with a bit of competition?
Last month, the UK’s fourth largest supermarket - Aldi - asked shoppers to get in touch with their views on where it should open new stores.
The discount chain says it received thousands of replies, which it has used to hone its search for new store sites.
At the moment, Aldi has more than 1,020 stores. It says it wants more than 1,500 stores across the UK in the long run.
The 27 areas of priority to Aldi are:
- Woodford, London
- Surbiton, London
- South Croydon, London
- Notting Hill, London
- Walthamstow, London
- Beckenham, London
- Bromley, London
- Barnet, London
- Redhill, Surrey
- Aldershot, Hampshire
- Haywards Heath, West Sussex
- Burgess Hill, West Sussex
- Chatham, Kent
- Cheadle, Greater Manchester
- Chorlton, Manchester
- Formby, Liverpool
- Newark, Nottinghamshire
- Chesterfield, Derbyshire
- Wellingborough, Northamptonshire
- Rayleigh, Essex
- Brentwood, Essex
- Dorchester, Dorset
- Clarkston, Scotland
- Cathcart, Scotland
- Penzance, Cornwall
- Warwick, Warwickshire
- Bath, Somerset
Jonathan Neale, managing director of national real estate at Aldi UK, said: "We want to make high quality food accessible to all, but we can’t do that while there are still some towns and areas that either don’t have an Aldi or have capacity for additional stores.
"We recognise there is huge demand in certain regions for more stores, which is why we decided to get the public’s input on our latest list of priority locations."
Which?, the consumer website and magazine, has ranked Aldi as the cheapest supermarket in the UK consistently this year.
Using a typical list of popular items, Which? ranked Aldi as the cheapest place to shop from January to May - with rivals Lidl coming in second.
However, for a longer list of items and a bigger shop, Asda and Morrisons have typically been the top two for Which? this year.
Free £25 Tesco voucher for customers of energy supplier
Customers of both Tesco and OVO Energy are entitled to 2,500 free Clubcard points, the supermarket has announced.
The points can be redeemed as a £25 voucher or at double their value with Clubcard reward partners.
Customers can unlock the points by linking their accounts with both companies.
"The cost of living remains a key challenge for households and our partnership with Tesco is one of the many ways in which we are giving back to our customers with rewards that they can spend how they choose," saidMat Moakes, chief commercial officer at OVO.
New customers can link their Tesco Clubcard account when they sign up as an OVO customer, while existing OVO customers can log into their account, go to their profile, click "our partners", and select the Tesco Clubcard logo.
The cheapest London musicals to see this summer
Want to see a show in London this summer without breaking the bank?
You're in luck - as new data has revealed the most affordable musicals to see in the capital right now.
The data, collated by theatre ticket site SeatPlan, shows the most affordable musical to see in London right now is Two Strangers (Carry A Cake Across New York), with the average cheapest ticket price at £17.90.
The rom-com musical follows a British boy (Dougal), who lands in New York for his dad's second wedding.
At the airport, he meets the bride's sister, and a quirky, offbeat love story ensues.
Also in the top 10 are Marie Curie The Musical (£20), Guys And Dolls (£23.90) and Sister Act (£26.40).
Shows are ranked by the average price of the cheapest ticket, with the top ranked show having the lowest price.
On the flip side, the data also revealed the most expensive tickets, by analysing internal pricing data for musicals from SeatPlan.com.
Musicals including Cabaret (£85.10), Mean Girls (£64.60) and Starlight Express (£43.70) make up this list...
Mortgage costs to rise for three million homes - with jumps of more than 50% for 400,000
If you've been reassured by positive recent news on inflation and a widely anticipated cut in interest rates later this year, unfortunately the Bank of England has a worrying update for mortgage payers.
About three million UK households are still set to witness hikes in theirmortgagerepayments over the next two years, the Bank has said.
Its Financial Policy Committee (FPC) added there are likely to be "very large increases" of more than 50% for themortgagesof around 400,000 households.
But the central bank stressed that UK lenders are still in a strong position to support households and businesses, even if the economic backdrop worsens.
The concerning update is in the Bank's latest Financial Stability Report.
It also showed that most households have already had an increase in theirmortgagerates since borrowing costs began rising substantially in 2022.
Why is the outlook so bad if interest rates are expected to fall?
Interest rates are at a 16-year-high of 5.25%, with the central bank voting to maintain the figure for a seventh consecutive meeting earlier this month.
But many economists have predicted the base rate could be reduced at the Bank's next vote in August.
However, at the moment, around 35% of households withmortgages, or more than three million, are paying below 3% for a range of reasons - like existing deals which pre-dated the recent crisis - and are expected to see an increase between now and the end of 2026.
A typical household rolling off a fixed-ratemortgagebefore the end of 2026 is due to face a jump of around £180 a month, the report said.
It highlighted that an "increasing proportion" of households have been choosing to borrow over a longer period of time, reducing monthly repayments but leaving them with more debt to service over time.
Highermortgagerates have resulted in many households and renters reducing their savings, the Bank also found.
