Archive for November, 2007
Saving money on utilities
If you are looking for ways to save money on your monthly outgoings then one of the areas that you should definitely look at is your utilities.
The cost of utilities can be expensive, and if you don’t shop around and do your research you could end up paying way over the odds on the cost of your utilities, thus pushing up the cost of your monthly outgoings. By checking and comparing utility prices you could find that you save a packet on the amount that you have to pay out on these bills.
Switching your gas and electricity could save you a small fortune each month, and in this competitive area you will find that you could make a huge saving by switching to a cheaper provider.
Popularity: 23% [?]
PPI still under investigation
Over the past year PPI, or Payment Protection Insurance, has hit the financial headlines on many occasions, after it was found that many lenders were mis-selling PPI.
Lenders were accused of selling this insurance to those that could never benefit from it, forcing consumers to purchase PPI by making out that they would not get finance without it, and even adding PPI to finance deals without the knowledge of the consumer. PPI can be very costly, and those found guilty of this type of mis-selling have been slated by regulators and campaigners.
Popularity: 32% [?]
HIPs may be affecting the housing market estate agents
Home Information Packs were introduced in the UK earlier this year by the government, and these packs, known simply as HIPs, are now a legal requirement for any home of three bedrooms or more that is being marketed for sale.
HIPs have been at the centre of controversy since their inception, and many industry professional have stated that they are costly and cause unnecessary delays, despite assurances from the government that these packs are designed to provide additional protection and information to potential buyers.
Popularity: 19% [?]
Customer receives compensation from HSBC
A banking customer has received compensation from his bank, HSBC, after making a complaint over the marketing materials relating to the bank’s savings account, stating that it was misleading.
It is thought that the bank’s decision to pay out the compensation to the customers could lead to a flood of claims from other customers using the same savings account. The bank paid out over £100 to the customer after he claimed that the marketing material relating to its 8% savings account was misleading.
Popularity: 21% [?]
More jobs being created at Nationwide
At a time when many financial institutions are cutting jobs and sending call centres abroad in order to save money and due to the effects of the turmoil that has hit the financial markets in the UK, one financial institution has announced the creation of around 200 jobs, with more to come over the next few years.
Nationwide Building Society is expanding its call centre in the Swindon area, which means that it will be able to offer more jobs in the next few years.
Popularity: 34% [?]
Building society deposits rocket
The amount of money that savers are depositing in building societies has rocketed following the recent Northern Rock crisis.
Septembers saw the level of deposits made to building societies from savers go sky high as savers that had closed their accounts with Northern Rock – withdrawing over £2 billion in total – sought an alternative account in which to place their savings. Net receipts for building societies leapt by 181% in September, rising to £2.8 billion.
Popularity: 20% [?]
Interest rates stay on hold at 5.75%
As widely predicted by many analysts and economists interest rates have remained on hold at 5.75% after November’s Monetary Policy Committee meeting.
This is the fourth month in a row where interest rates have remained unchanged, and despite rising speculation with regards to the Bank of England’s decision to keep rates on hold there was no official statement released along with the announcement that changes were not being made to the interest rate.
Popularity: 19% [?]
FSA calls for greater transparency from its members
The UK’s financial regulator, the Financial Services Authority is calling for increased transparency from its member, and plans to introduce a paper that is designed to discuss the benefits of greater transparency from its members.
There have been calls from consumer groups for the FSA to name and shame members that breach any of its regulations. The FSA is due to release the paper on greater transparency early next year according to reports.
Popularity: 22% [?]
Did you close down your Northern Rock ISA
The recent turmoil to hit the financial markets in the UK and worldwide has affected many financial companies, and one of the major UK victims of this turmoil is Northern Rock.
The lender, which was the fifth largest mortgage lender in the nation, was forced to go to the Bank of England for a loan recently, but once this became public knowledge there was widespread panic amongst the customers of the bank, who were worried that the bank was on the verge of collapse.
Popularity: 26% [?]