Boom for building societies in 2007
January 30, 2008
A recent report has shown how building societies across the UK enjoyed record deposits last year, with the level of money pumped into building societies fuelled by the crisis that hit Northern Rock, which saw many savers withdraw over £2 billion in savings from the bank amidst fears that it was on the verge of collapse. The report suggests that consumers have lost faith in share-holder owner banks after what happened to Northern Rock, which became the victim of the first run on a British bank in more than a century. Read more
A fortune being wasted on insurance cover
January 30, 2008
According to a leading consumer group thousands of pounds is often wasted by consumers on taking out insurance policies that is costly and does not benefit them. The consumer body Which? Said that many people fork out a fortune on ‘useless and expensive insurance cover’, which in many cases is not even necessary. Read more
The Rock in discussions over private sale
January 29, 2008
According to the prime minister, Gordon Brown, troubled bank Northern Rock is now is talks relating to a possible private sale. However, the prime minister also added that the possibility of nationalisation, a move that was revealed as a possibility recently by the government, had not been ruled out. According to recent reports Gordon Brown has approved a plan that will result in the likelihood of a private sale for the bank, which became the first victim of a run on a British Bank in nearly 150 years recently. Read more
Finding a good deal on pet insurance
January 29, 2008
Pet insurance is a type of insurance cover that is designed to protect the health of your pet, much in the same ways as health insurance and medical insurance covers people. In the event that your pet is injured or gets sick your pet insurance plan will help to cover the cost of treatment or surgery, so that you do not have the added stress of financial worries. Read more
Nationwide Building Society beats the banks in service level poll
January 28, 2008
Despite the claims of offering the best service levels and reliability from the UK’s largest banks, they have all been beaten in a recent poll by the Nationwide Building Society. The poll was carried out by moneysupermarket.com, and revealed that Nationwide was voted the most trusted bank or building society by consumers, who were particularly please with the building society’s service levels and reliability. Read more
Legal and General have to pay out to cancer victim
January 28, 2008
A cancer victim has finally received justice after her insurance company refused to pay out against her critical illness cover, stating that she had failed to disclose some conditions, despite the fact that the conditions that they quoted were totally unrelated to cancer. The customer, Jacqueline Bradburne, has had to fight for a year to get her money, and even had to go through the Financial Ombudsman Service to see justice done, after her claim was rejected by Legal and General. Read more
Are you living a champagne lifestyle on beer money?
January 25, 2008
There comes a time in most people’s lives where they start spending over and above their means, and this is a habit that can quickly lead to serious financial problems and spiralling debt. In the current economic climate, and in light of the state of consumer debt levels in the UK, it has become increasingly important for consumers to ensure that they live within their means so that they can avoid financial problems and debt as much as possible. Read more
Politicians argue over Northern Rock
January 25, 2008
Politicians from all three main parties, and indeed the Prime Minister himself, have been arguing over the Northern Rock crisis, with blame and accusations being banded around. The Prime Minister, Gordon Brown, has been accused of dithering about Northern Rock, with the leader of the Tory Party stating that Mr Brown did not take action quickly enough because he was busy planning a general election. Read more
Interest rate cuts called for by BCC
January 25, 2008
Following the Bank of England’s decision to keep interest rates on hold for January, the British Chambers of Commerce has called for further modest interest rate cuts in order to avoid a marked slowdown in the economy. After the Monetary Policy Committee meeting earlier this month the Bank announced that interest rates would be kept on hold at 5.5%, and this disappointed many consumers and industry bodies who had been expecting an interest rate cut. Read more
Personal and banking details lost again
January 24, 2008
The Ministry of Defence has become the latest government agency to be found guilty of losing the personal and banking details of consumers. It is thought that the details of around 600,000 people may have been lost, and this includes personal information as well as details about bank accounts. The data related to people that had applied to join the Royal Navy, the Marines, or the RAF, and also included passport details and National Insurance numbers. Read more