Archive for September, 2007
HIPs having adverse effect on housing market
The controversial Home Information Packs, or HIPs, are causing problems in the housing markets according to many experts. These packs are affecting the number of properties that are coming onto the market as well as affecting asking prices on properties.
HIPs were introduced to cover homes of four bedrooms or more, but were recently rolled out to include three bed homes, and will eventually cover all homes that are put up for sale. The packs have been designed to make the process of home selling and purchasing more streamlined, but many say that it is complicating matter and making it more difficult.
Popularity: 16% [?]
Northern Rock sees mass of withdrawals
Troubles bank Northern Rock has seen a stampede of customers flock to its branches over the past few days, with worried savers desperate to clean out their savings account due to worries that the bank may go under.
Both government officials and officials from Northern Rock have assured the public that there is nothing to be concerned about and that the company remains solvent, but this has done little to alleviate the dears of the bank’s 1.5 million savers after it was discovered that the bank had to take a £30 billion loan from the Bank of England.
Popularity: 17% [?]
Consumers urged to look around for right broadband deal for their needs
The tough competition between today’s broadband providers in the UK has led to many Internet Service Providers trying to beat the competition through offering a range of freebies, special deals, half price services, and various upgrades and free services.
Many consumers have been tempted by offers such as free laptops available to those signing up for two year contracts, which were recently offered by AOL and Orange. However, experts are urging consumers not to commit to such long term contracts simply because of freebies, as they may have to compromise on service and quality, and may end up with a service that is unsuitable for them.
Popularity: 19% [?]
Customers must reassess home and contents insurance needs
Consumers in the UK are constantly being urged to bear in mind the importance of having adequate home and contents insurance cover in place, and many – particularly after the recent flooding seen in the UK – have taken the time to ensure that their valuables and their home is covered against malicious or accidental damage, theft, loss, and other possibilities. However, many are failing to reassess their insurance needs after having work carried out or after buying valuable items, which could prove to be a real downfall if anything happens state experts.
Popularity: 19% [?]
Wales has lower student debts
Student debts in Wales are significantly lower than student debts in England according to recent figures. Many students get themselves into high levels of debt whilst studying, but these recent figures suggest that students in Wales do not have to put themselves in as much debt as those in England. The average annual student debt in England is around £4296, and in Wales the average annual student debt is £3774.
The estimated debt for students that are graduating in Wales comes in at around £11,496, which is over £1500 lower than the estimated debt for those graduating in England.
Popularity: 22% [?]
Shared ownership could be the right move for many FTBs
As a result of rising interest rates and soaring house prices many first time buyers in the UK have been struggling when it comes to getting onto the property ladder.
Even those that have managed to qualify for the huge mortgage required to purchase a property at today’s prices have found that the repayments have been extremely high, making it difficult for them to commit to such a large loan and therefore hindering them from getting onto the property ladder.
Popularity: 15% [?]
OFT warns on bank charge fraudsters
The Office of Fair Trading has issued a warning to consumers in the UK, asking them to be vigilant with regards to anyone asking for their bank account information in connection with helping them to reclaim bank charges.
The warning comes after it came to light that a number of fraudsters have been posing as officials from the Office of Fair Trading, and have been obtaining bank account details from vulnerable consumers by pretending that they need these details to help them to reclaim bank charges. The fraudsters are making contact with consumers by phone, and some consumers have already been fooled into giving out their details, which the fraudsters then go on to use to obtain money, run up bills, can carry out fraudulent activity.
Popularity: 19% [?]
Impressive growth for BT Broadband
Communications giant BT Retail has recently announced that it has become the first broadband provider in the UK to smash through the four million customer barrier, enabling the company to hang on to its top spot as broadband provider in the UK beating the likes of Virgin Media and other popular broadband providers.
BT was recently voted the best broadband provider in a customer poll, and this seems to be reflected in the number of customers that it has acquired. The company took over Plusnet in 2006, which added another 200,000 to its customer base.
Popularity: 25% [?]
Sky may offer stand alone broadband
In a recent announcement officials from BSkyB have announced that the media giant is considering launching a stand alone broadband service, although there are not definite plans in place as yet, and officials have reiterated that it is simply a possibility at the moment.
BSkyB already offers a broadband service as part of a bundle package to customers that also take the television service. However, the media giant has enjoyed huge success following the launch of its broadband service, and this is why executives are now looking into the potential for a stand alone service for non television customers.
Popularity: 20% [?]
Drop in insolvencies during second quarter
The government has recently released a report that shows insolvencies have actually fallen in the UK during the second quarter of this year. Compared to the first three months of this year the level of insolvencies has seen a drop, and this is according to the government’s Insolvency Service.
During the second quarter of this year fewer than 27000 people went through bankruptcy or an IVA (Individual Voluntary Arrangement, which is al alternative to bankruptcy) according to the government statistics.
Popularity: 17% [?]