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Martin Lewis has warned UK households with an annual income of over £29,385 that a major change in the Autumn Budget will impact their finances.

Chancellor Rachel Reeves aims to raise £400m a year by freezing Plan 2 student loans for graduates, but the finance guru has warned that Brits who are paying back their student loans will now “pay more in total”.

Those who attended university between 2012 and 2023 and paid £9,000 or more for tuition each year repay 9% of everything they earn over £28,470, but that is about to change.

READ MORE: Everything you should know as £575 extra confirmed for millions of state pensioners

From next April, that will go up to £29,385, which will be frozen for the next three years.

On the MoneySavingExpert.com's ITV programme, The Martin Lewi

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