Welcome to Smart Money News

Thinking about building wealth for your future? Each week, Smart Money News shares clear, jargon-free insights on savings, investing, pensions, and tax planning to help you stay informed and confident.

Whether you’re planning for retirement, exploring your investment options, or simply looking to make your money work harder, we’re here to help you stay ahead.

Whether you’re managing rising bills, planning retirement, or just want to make your money work harder, Smart Money News is here to bring you real stories, practical savings, and clear investment guidance you can actually use.

This week:
✅ How Emma in Corby saved £420/year on her bills (and you can too).
✅ A clear guide on checking your pension fees to stop hidden leaks.
✅ Sam Frugellman’s £3 trick to cut your coffee habit and save £540/year (without giving up caffeine).
✅ Market insights that matter, in plain English.

The Market in 60 Seconds

• FTSE 100: Up 5.2% this year (yes, even with the headlines).

• Inflation: 3.1%, cooling but still biting at the checkout.

• Interest Rates: 4.75% base rate holding steady – great for savers, less fun for mortgages.

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What this means:

Higher rates = better savings returns but think about inflation. Investing over the long term can help your money grow beyond inflation’s slow nibble.

“Small Habits to Save Big in 2025”

By Sam “The Saver” Frugalman, Personal Finance Whisperer

If there’s one thing I’ve picked up in 20 years of writing about money, it’s this: saving doesn’t mean turning your life upside-down.

Just a few small changes can make all the difference.

Here are three top tips to get your finances in shape this year—without breaking a sweat.

1. Cull Those Forgotten Subscriptions
2. 
   When was the last time you streamed that must-watch show?
3.  
4. Or stepped foot in that gym you joined in January?
5.  
6. Exactly. Go through your bank statements, cancel anything you’re not using, and redirect that cash to something better—like a holiday fund or a rainy day stash.
7.  

2. Meal Planning: Save Pounds, Eat Better

We’ve all been there—binning a bag of soggy salad leaves while ordering another cheeky takeaway.

Meal planning puts a stop to that. Spend 20 minutes plotting out your weekly meals, stick to your shopping list, and cook in batches.

 Apps like Mealime or Paprika can help. You’ll waste less, eat healthier, and save a bundle.

3. Automate Your Savings

Want to save without even noticing?

Try apps like Plum, Money Dashboard, or Emma. Plum automates savings by rounding up your purchases and setting aside the spare change, while Emma helps you track spending, identify unused subscriptions, and create smart budgets.

Money Dashboard offers a clear overview of your finances by connecting all your accounts and categorising your expenses.

These apps take the stress out of saving and give you more control over your money.

Saving doesn’t need to be dull or daunting. Small, consistent steps can add up to big wins.

After all, as we say in the UK: “Take care of the pennies, and the pounds will take care of themselves.”

Start today, and watch your savings grow. ✨

Renting v Buying

• Sophia’s Choice: Sophia rented a cosy flat for years to save for a larger down payment. When the housing market cooled, she bought her dream home for a great price.

• Dan’s Strategy: Dan opted to keep renting because his freelance income wasn’t stable enough to handle a mortgage. Instead, he invested in stocks, which provided strong returns.

When to Rent or Buy

You should rent if:

• You value flexibility and are unsure about long-term plans.
• You don’t have sufficient savings for a down payment.
• Your job or personal life requires frequent relocations.

You should buy if:

• You’re financially stable and ready for a long-term commitment.
• You have enough savings for the down payment and closing costs.
• You plan to stay in one location for several years.

The Bottom Line: Renting isn’t “throwing money away,” and buying isn’t always the smarter choice. Your decision depends on your lifestyle, financial goals, and market conditions.

If you need help calculating the right choice for your situation, contact your local Peterborough mortgage adviser . Together, we’ll find the path that works for you.

Automate your savings by setting up recurring transfers to a high-interest savings account after each paycheck.

This way, you'll save without even thinking about it.

What Not to Do When Buying a Home 🏠

Buying a home is exciting—until it turns into a cautionary tale. Here's a little insight (and humour) about two often-overlooked aspects of homebuying: property surveys.

While a basic survey is essential for lenders to protect their investment, a full survey is what you need to protect yourself. Let me tell you a story about Emma and Callum to illustrate.

Emma and the Invisible Fault Lines

Emma was thrilled to buy her first home—a charming Victorian terrace with sash windows and a garden perfect for her dream of sipping tea surrounded by roses.

Her lender required a basic valuation survey, and it came back with a glowing "satisfactory." Hooray! Emma signed on the dotted line.

Fast forward six months: Emma noticed cracks appearing in the walls.

Not quaint, "this house has character" cracks—no, these were "your house is falling apart" cracks.

Turns out, the house sat on a historic mine shaft.

The basic survey had only confirmed that the home’s value covered the mortgage; it didn’t dig (pun intended) into structural integrity.

The bill for underpinning? Over £30,000. The feeling of regret? Priceless.

Callum’s Comedy of Avoidance

Callum, on the other hand, thought surveys were a waste of money. “How bad can it be?” he reasoned, waving off his agent’s warnings.

He fell head-over-heels for a country cottage straight out of a rom-com. But the reality was less Hugh Grant and more Monty Python.

When Callum moved in, he discovered the roof leaked—badly.

Every time it rained, the living room became a paddling pool.

Worse, the quaint fireplace he’d admired? It was a deathtrap, with a chimney so clogged it risked carbon monoxide poisoning.

His survey-free gamble? It cost him not just money but also a lot of sleepless, soggy nights.

Why It Matters

• For Mortgage Lenders: A basic survey, or valuation, ensures the property is worth the loan amount. It’s their way of confirming they’re not financing a lemon.

• For Buyers: A full structural survey checks the property for hidden issues like subsidence, damp, or faulty wiring. It's your peace of mind.

Lesson Learned

When buying a home, think of surveys as insurance for your future happiness.

Because while love may be blind, the damp patch in your new living room shouldn't be.

Proverb: "A stitch in time saves nine—and a survey saves your sanity."

Peterborough Housing Market Update – June/July 2025

Average Prices

The overall average house price in Peterborough over the past year is £251,800, reflecting continued steady growth as demand remains strong from relocators and local buyers.

Property Types:

• Semi-Detached: Average price of £243,900

• Terraced: Average price of £214,700

• Detached: Average price of £354,200

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Price Trends

These figures represent a 3.6% increase year-on-year, and around a 10% increase from 2021 levels, reflecting strong demand alongside limited supply, particularly for family homes near schools and green spaces.

Breakdown by Area

Central Peterborough (City Centre, Millfield, New England)

• Attractive to first-time buyers and investors due to station proximity and ongoing regeneration.

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• Terraced homes typically range from £185,000–£220,000.

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• Growing interest in city-centre apartments with prices starting at £150,000 for one-bedroom flats.

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Hampton (Vale, Hargate, Gardens, Heights)

• Continues to be popular with families due to schools and green spaces.

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• Semi-detached homes typically £235,000–£270,000; detached homes £300,000–£420,000 depending on size and plot.

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Orton (Brimbles, Goldhay, Waterville, Wistow)

• Offers affordability for families and first-time buyers, with easy A1 access.

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• Terraced homes typically £175,000–£210,000; semi-detached £210,000–£250,000.

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Werrington and Gunthorpe

• Established family-friendly areas with good schools.

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• Semi-detached homes around £240,000; detached homes £290,000–£370,000.

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Market Deeping and Deeping St James

• Village feel, appealing to families and retirees seeking quieter living.

• Detached homes typically £330,000–£460,000 with strong demand for 3-4 bed family homes.

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New Developments

Great Haddon

Peterborough’s flagship large-scale development south of the city continues to expand, delivering new primary school facilities, local centres, and a wide mix of homes.

• Prices: £225,000–£440,000 depending on plot and developer (Barratt, Taylor Wimpey, Persimmon).

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Fletton Quays

The riverside regeneration project is completing additional phases, attracting professionals wanting city-centre living with riverside views.

• Prices: £165,000+ for 1-bed apartments, with premium riverside 2-beds reaching £250,000+.

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Paston Reserve

North Peterborough site offering 2–4 bed homes, popular with first-time buyers and young families.

• Prices: £195,000–£340,000.

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Roman Fields (Gunthorpe)

A newer site offering modern homes with easy access to the city and A47.

• Prices: £215,000–£380,000.

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• These developments contribute to Peterborough’s continued growth, balancing modern family housing and commuter-friendly options while remaining more affordable than many parts of the South East.

Note: Property prices and market conditions are subject to change. Always consult local estate agent listings and professional advisers for up-to-date figures and availability.

A Foreigner's Journey — 11 July 2025 - The Cresset

A tribute concert celebrating the music of Foreigner and Journey, featuring top local and international musicians.

Perfect for classic rock fans looking to relive the hits in a live setting

Werrington Summer Artisan Fair — 12 July 2025

Held at Werrington Village Hall (Church Street, PE4 6QE) from 10 am–4 pm.

This community fair offers handcrafted goods, unique gifts, and local treats—ideal for a relaxed weekend browse

Crazy Bingo Party — 18 July 2025 - Holiday Inn - Peterborough

Hosted by Bingo Bob & Disco Dave, this lively evening event blends bingo with disco vibes.

A fun, high-energy night out for bingo lovers and social butterflies alike

Peterborough Gin & Rum Festival 2025 — 19 July 2025

Taking place at Peterborough Cathedral from 12:15 pm–10:30 pm.

Sample over 120 spirits—including gin, rum, tequila, cocktails, beer, and more—complete with live music and branded goodies

Festival of Archaeology — 19 July 2025

Hosted by the Peterborough Museum, this event offers archaeology-themed talks, demos, and family-friendly activities celebrating the city’s past.

A great outing for history buffs and curious minds

Up The Garden Bath Hits a Big Milestone

In a quiet corner of Queensgate, a small Peterborough social enterprise has achieved something big.

Up The Garden Bath, known for its creativity in turning old bathtubs into vibrant planters, has now helped over 50 local makers and traders reach £500,000 in combined sales through its UNITY retail space.

Walking into UNITY feels like stepping into a colourful, community-powered treasure trove.

You’ll find locally made soaps, hand-poured candles, unique homewares, and artwork, all carefully displayed and lovingly curated.

Shoppers aren’t just buying a product; they’re supporting neighbours, artists, and small businesses working to keep Peterborough’s creative spirit alive.

What makes this milestone even more special is that every penny of profit goes back into community and environmental projects.

Up The Garden Bath uses its proceeds to run eco-education workshops in local schools, teach children about recycling, and transform urban spaces with their signature upcycled planters adding colour and life to the city’s streets.

This milestone shows what’s possible when a community comes together to support local.

 If you haven’t visited yet, pop into UNITY in Queensgate soon.

You’re not just picking up a gift for yourself—you’re helping build a brighter, greener Peterborough.

How do I know if I’m ready to buy?

Amelia from Hampton asks:

“I’ve been renting in Peterborough for a few years, but how do I know if I’m actually ready to buy a home?”

Answer:
Great question, Amelia!

A good sign you’re ready is having a stable income, a steady job, and savings for a deposit (ideally at least 5-10%).

It’s also about lifestyle—do you want to stay in the area for a few years?

Owning a home comes with responsibilities, from maintenance to council tax, so it’s wise to budget carefully and make sure you’re prepared for these commitments before taking the plunge.

Should I buy a new build or an older property?

Kieran from Werrington wonders:

“I’ve seen some lovely new builds in Hampton Gardens but also some older homes in Orton. How do I decide which is better?”

Answer:

Excellent question, Kieran! New builds often come with energy-efficient features, lower repair costs, and warranties, but they may have smaller rooms or gardens.

Older homes can offer more space and character but may need more maintenance.

Consider your budget for potential repairs, your lifestyle needs (like garden size), and whether you prefer modern layouts or period features.

 It’s all about what fits your priorities.

Can I use government schemes as a first-time buyer?

Sophie from Gunthorpe asks:

“I keep hearing about schemes for first-time buyers. Do any apply in Peterborough?”

Answer:

Absolutely, Sophie! Schemes like First Homes, Shared Ownership, and Lifetime ISAs can help.

First Homes offers discounts on new builds for local first-time buyers, while Shared Ownership allows you to buy a portion of a property and pay rent on the rest, making it easier to get on the ladder.

A Lifetime ISA can help you save with a government bonus. It’s worth speaking to a mortgage adviser to see which options fit your circumstances.

How long does the buying process take?

Liam from Paston Reserve asks:

“I’ve found a house I like, but how long will it take to actually move in?”

Answer:

Good question, Liam!

Once your offer is accepted, the process typically takes 8–12 weeks, but it can vary depending on chains, mortgage approvals, and searches.

Stay in regular contact with your solicitor and mortgage adviser to keep things moving, and be prepared with your paperwork to avoid delays.

Got your own first-time buyer question about buying in Peterborough? Send it our way, and we’ll help you take the next step towards your new home! 

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