- GFY
- Posts
- 📜 Magna Carta vs. Your Mortgage? 🍺 Drink in Lidl + 🤑 Premium Bond Millionaires
📜 Magna Carta vs. Your Mortgage? 🍺 Drink in Lidl + 🤑 Premium Bond Millionaires
The 99 -19 May 2025
Good afternoon and welcome back to The 99: the home of financial news and insights made simple. You can count on accessible, trustworthy, and unbiased news insights every Monday.
Struggling to view the whole email? Somewhere above this text you’ll see ‘view on web’.
£50 bonus plus a quick fix that could save you £500+
What is Nous?
A free tool that takes the stress out of managing household bills. It keeps an eye on your providers, finds better deals before your contracts end, and handles the switch for you so you can spend your time doing literally anything else. It takes minutes to sign up and you can chat to their team via WhatsApp if you have questions.
We’ve worked with Nous before, and they’re a GFY favourite. They are efficient, helpful, and genuinely great at what they do.
Nous saves the average household around £500 a year by making sure you are never overpaying.
Sign up for free and get a £50 welcome bonus when you complete your first switch.
💷 How do I get the £50?
You do not need to pay anything or sign up to premium
Once Nous sorts your first switch, you’ll get a £50 welcome bonus — in addition to the savings they find for you 🥳
🚨 All you need to do is switch at least one provider (Nous will make sure you get a better deal)
Alice & the GFY team x
Considering options...
Hi…I work in the NHS, none clinical, and we're going through some big changes (I'm in an ICB and it's going to reduce by half). I've come to terms with the potential for redundancy and the opportunity it might bring to explore other career options/work environments. But where do I start even looking?!
For context, if I am made redundant I can't work in the NHS for a set period of time.
I've been looking at civil service job alerts and vacancies on gov.uk, I'm sure there's got to be alternatives out there, in terms of job sites and possible careers.
I have amongst other things…a degree in Business Management and Leadership, Business Analysis qualification (not that I've ever used it) Managing Successful Programmes (foundation).
I currently earn around £47k, I'd drop if there was progression.
Any advice?!
📰 The 99 Quick News
🍺 Lidl to Open First In-Store Pub in Northern Ireland
The 99 TL;DR: Lidl has received approval to open its first in-store pub in Dundonald, County Down, marking a unique blend of grocery shopping and pub culture.
What's happening?
Lidl has been granted permission to open its first in-store pub in Dundonald, County Down. The High Court dismissed a legal challenge from a competing trader, clearing the way for the supermarket chain to combine grocery shopping with pub culture.
Why does it matter?
This move reflects a growing trend of supermarkets diversifying their offerings to enhance customer experience and increase foot traffic. By integrating a pub within the store, Lidl aims to create a unique shopping environment that caters to the social habits of its customers.
Read more:
🐶 Pets at Home to Sell Cultivated Meat for Dogs
The 99 TL;DR: Pets at Home becomes the world's first retailer to offer lab-grown meat for dogs, aiming to provide sustainable pet food options.
What's happening?
Pets at Home has announced plans to sell cultivated meat products for dogs, making it the first retailer globally to offer lab-grown meat for pets. This initiative is part of the company's commitment to sustainability and innovation in pet nutrition.
Why does it matter?
The pet food industry significantly contributes to environmental issues due to the resources required for traditional meat production. By introducing lab-grown meat, Pets at Home aims to reduce the environmental impact while providing high-quality nutrition for pets.
Read more:
Would you comfortably feed your pet lab grown meat? |
🏠 First Time Buyers Stretch Mortgages to 31 Years: What’s the Real Cost?
+ why people are using the Magna Carta to avoid mortgage payments…👀
The 99 TLDR: First-time buyers in the UK are now taking out mortgages averaging 31 years. That is up from 28 years a decade ago. It helps reduce monthly payments but means paying far more in interest over time. Here is what an extra five years could cost you and why some people are trying to avoid paying anything at all by invoking medieval law.
Why are mortgage terms getting longer?
To afford homes with high prices and rising interest rates, more first time buyers are stretching their mortgage terms. According to UK Finance, half of all new first time buyer mortgages now last more than 30 years. In 2014, it was just one in four.
It lowers monthly payments now but locks buyers into years of extra repayments and thousands more in total interest.
What could an extra 5 years cost you?
Extending a mortgage from 25 to 30 years reduces monthly costs but increases the total you pay back. Here is what that looks like for different mortgage amounts.
Mortgage Amount | Monthly for 25 Years | Monthly for 30 Years | Total Repayment (25 Years) | Total Repayment (30 Years) | Extra Interest Paid |
£100000 | £584.59 | £536.82 | £175377.01 | £193255.78 | £17878.77 |
£200000 | £1169.18 | £1073.64 | £350754.02 | £386511.57 | £35757.54 |
£300000 | £1753.77 | £1610.46 | £526131.04 | £579767.35 | £53636.32 |
£400000 | £2338.36 | £2147.29 | £701508.05 | £773023.14 | £71515.09 |
£500000 | £2922.95 | £2684.11 | £876885.06 | £966278.92 | £89393.86 |
£600000 | £3507.54 | £3220.93 | £1052262.07 | £1153534.70 | £101272.63 |
Assumptions:
Interest rate is 5 percent fixed over the full term
Standard repayment mortgage (not interest only)
No early repayments or fees
Monthly payments calculated using standard amortisation formula
What it means for you
Stretching your mortgage term can be a lifeline if you are struggling with affordability. It can get you on the property ladder without being financially overwhelmed month to month. But it comes at a cost.
Two in five new mortgages will still be active when the borrower is in retirement. That has big implications for your long-term financial security. If you can, look for lenders that allow overpayments or future term reductions. Even small extra repayments can cut years off your loan and save you thousands.
Also happening: people are quoting the Magna Carta to get out of paying their mortgage 🤔
Yes, this is a thing. A growing number of people are turning up to court claiming they do not have to repay debts. Why? Because of the Magna Carta. Obviously.
Some people are claiming that ancient documents like the Magna Carta exempt them from modern laws, using it to argue they are not legally required to repay debts, including mortgages. This belief is part of the so-called "freeman on the land" movement, where individuals argue they can opt out of legal and financial obligations simply by declaring themselves separate from the system.
It sounds like a fringe internet theory. It is. But it is becoming increasingly common in UK courts. These arguments never work. Legal advisers and judges are seeing more of these cases, which tend to waste everyone’s time and end with the person owing even more.
If you can’t afford your mortgage payments, always get in touch with your lender directly. They are obliged to help with things like a mortgage holiday.
Do you expect to be paying your mortgage into retirement?
⚙️ UK Manufacturing Faces Energy Cost Crisis
The 99 TL;DR: UK manufacturers are warning they might have to shut up shop if electricity prices stay this high. Britain now tops the league table for industrial energy costs and businesses are calling on the government to step in.
What’s happening?
According to Make UK, Britain had the highest industrial electricity prices across all International Energy Agency nations in 2023, 46% above the average.
One key reason: UK electricity prices are still tied to gas costs, even when the power comes from cheaper renewables. Other countries have moved away from this pricing model.
Now, industry leaders want:
a fixed electricity price for manufacturers
green levies removed from bills
and long-term reform to electricity markets
Why does it matter?
UK manufacturing makes up just 9% of the economy — the lowest among G7 nations. But it’s still a big employer and a key export engine.
Sectors like steel, food processing and car production are being hit hard. Even Nissan says its Sunderland factory is more expensive to run than any of its international sites.
If prices stay high, some businesses could move production overseas, hitting UK jobs and economic growth.
Will it cost us more?
Probably, yes. When energy prices rise for manufacturers, those costs often get passed on to consumers in things like building materials, electronics, food and cars.
It also risks turning the UK into a nation that imports more, makes less, and loses skilled jobs along the way.
What it means for you…
Expect rising costs in sectors that depend on manufacturing, from new builds to appliances. If investment dries up, that could mean fewer jobs in future-facing industries like EV batteries or green tech.
/imag
🤑 Premium Bonds Make Two New UK Millionaires
The 99 TL;DR: Two Premium Bond holders — from Stockport and Edinburgh — have just bagged £1 million each. If you're not sure how they work, or whether they're worth it, here's the lowdown.
What’s happening?
National Savings & Investments (NS&I) announced the June 2025 Premium Bonds winners this week. Two individuals, one who bought bonds in 2005, the other in 2019. Each won the £1 million jackpot.
In total, NS&I paid out £416 million across 5.9 million prizes this month alone.
How do Premium Bonds work?
You buy them through NS&I. Instead of earning interest, your bonds are entered into a monthly tax-free prize draw.
Minimum purchase: £25
Max holding: £50,000
Odds of winning anything: 1 in 22,000 (per £1 bond)
Prizes: £25 to £1 million
No risk to capital + you can cash out anytime
Why are they popular?
With interest rates dropping again, many savers like the idea of keeping their money safe while having a chance to win a prize. For some, it’s more appealing than earning a small amount of interest.
Plus, any winnings are completely tax-free, even for higher earners.
What are your odds?
The odds of winning a prize with Premium Bonds are currently one in 22,000 per £1 Bond number, according to National Savings and Investments (NS&I). This means each £1 you hold has a one in 22,000 chance of winning something in any given month. The annual prize fund rate is 3.80%, although this is not a guaranteed return. It represents the average payout across all prize holders. Some people win big while others win nothing.
Takeaway
If you’ve already filled your ISA and emergency savings and investing isn’t right for you at the moment (typically if you will need access to your money in the next 3-5 years), Premium Bonds can be a fun alternative for some potential extra savings. But bear in mind: unless you win, the effective return is zero.
Sources/Read More:
🏠 First-Time Buyers and 31-Year Mortgages
Sources:
⚙️ UK Manufacturing Faces Energy Cost Crisis
Sources:
💰 Premium Bonds Make Two New Millionaires
🍺 Lidl to Open First In-Store Pub in Northern Ireland
🐶 Pets at Home to Sell Cultivated Meat for Dogs
