Martin Lewis may have made a name for helping others with their financial worries, but the money expert has a vast property portfolio, despite selling several assets
He’s made his name helping the UK save cash, and Martin Lewis has been raking in his fair of dough share over the years.
The MoneySavingExpert and his wife, Lara Lewington, boast a staggering property empire across the North West of England. However, he has recently offloaded £5 million worth of properties from his extensive portfolio.
Over the years, Martin, 54, and Lara, 47, accumlated a huge fortune by buying and investing in properties across Cheshire through their business, Osmmium Estates Limited. Just five years ago, their property empire was worth an eye-watering £18 million.
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But new documents filed to Companies House show that this has now dropped to £13,346,000. The documents show that £2 million worth of property was sold last year, following sales in previous years.
Accounts also state that the firm had borrowings of £12.7 million last year, down from £14.2 million the previous year. The business also had £641,000 in cash deposits.
The Sun reports that Martin, who attended the same school as Matt Hancock, is estimated to be worth a jaw-dropping £130 million. Martin launched his MoneySavingExpert website over two decades ago, reportedly setting it up for just £80, before selling it to MoneySupermarket in 2012 for around £87 million.
It was reported that, as part of the deal, £60 million would be paid upfront, with a further £27 million depending on how well the site performed. And since then, he’s become a regular on ITV’s This Morning, as well as landing his own show, The Martin Lewis Money Show, and a podcast on BBC Radio 5 Live.
Although Martin remains extremely private about his life, Lara resides in London with their daughter. But during the coronavirus pandemic lockdowns, he did give people a brief insight into his residence as he broadcast from his home studio.
Lara, whom Martin brands Mrs MoneySavingExpert, filmed from her office upstairs in the house, which featured a black chair and a sequined cushion, while presenting her BBC show, Click.
Martin, however, filmed downstairs in his office, with a huge neon light behind him reading: “MLMS” – Martin Lewis Money Show. This comes after Martin offered viewers of This Morning important advice on savings. He explained that people are currently worried about their mortgages, and aren’t sure whether to pay it off or put the funds into savings.
Martin explained that times are tough and many people are trying to make their money go further: “Whenever I talk about savings, people go, ‘Who’s got savings?’ I mean, just report from the Bank of England today, an extra £4.7 billion has just been put into savings.
“In the pandemic alone, £150 billion. We have over a trillion quid worth of savings in this country. This is not a small issue, and it’s why we get more questions about savings and debt when we do the open phone call. So that’s why I wanted to cover the subject.”
Martin said before doing anything, people need to decide what the biggest priorities are in their finances – and where they could save money. He explained: “First thing you do if you’ve got other expensive debt, you know, credit card debt, a loan that’s expensive that you are allowed to overpay without penalties.
“You want to clear those before you’re clearing your mortgage because their interest rate is high. So, we’ll start with that.” He later advised that, in principle, if people can earn more on their savings than their mortgage costs, they may want to save rather than overpay on their mortgage.
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