Severn Trent Water faces serious charges
September 30, 2008
After being found guilty of involvement in the biggest overcharging scandal in Britain one of the country’s major water suppliers, Severn Trent Water, is facing serious fraud charges. The Midlands based water company could face serious penalties and charges from the Serious Fraud Office, and SFO officials could throw the book at a number of directors from Severn Trent Water. One of those that will have to face the music is Labour friend and former chairman Sir David Arculus, who was the president of the Confederation of British Industry, but had to give this up as a result of the scandal. Read more
Lending to new customers reduced by Paragon
September 29, 2008
Specialist buy to let mortgage provider, Paragon, has announced that it will be reducing its lending levels to new customers as of the end of February 2008, reflecting the cutbacks that many lenders are making. Both businesses and private consumers are likely to find it increasingly difficult to get finance in the coming months, as lenders tighten their belts and increase stringency when it comes to offering finance. Read more
Flurry to protect accounts by lost data victims
September 28, 2008
The victims of the lost bank account data, which was lost by HM Revenues and Customs recently, are desperate to try and protect themselves against the risk of fraud and identity theft according to a recent report. HMRC lost disks containing the bank account details of around 25 million people in this latest blunder, which comes shortly after it also lost disks containing pension plan details of many Standard Life policyholders. Consumers have been taking desperate measures to protect their accounts, and government officials have urged those affected to be extra vigilant. Read more
Problems for those wishing to switch broadband providers
September 27, 2008
According to a recent report many broadband customers that wish to switch broadband providers are experiencing real difficulties, despite action having been taken by the communications regulator Ofcom with regards to making this process easier, faster, and less disruptive. Complaints over broadband providers have soared over recent months, with an increase in complaints relating to everything from the quality of the service to billing and lack of customer service. Read more
More energy firms have raised prices
September 26, 2008
According to recent reports another two energy firms raised their gas and electricity prices near the end of August, hitting customers with a second round of price hikes this year, and adding strain to already overstretched household finances. Both E.On and Scottish and Southern Energy have recently announce that they are hiking up the cost of energy usage, so customers can once again expect to see their energy usage bills go up. Read more
PPI issues result in fines for five dealerships
September 25, 2008
According to a recent report issues over the sale of Payment Protection Insurance, or PPI, has resulted in five car dealerships being fined by the UK’s financial regulator the Financial Services Authority recently. The five motor dealerships were found to be mis-selling PPI to consumers without carrying out necessary checks or ensuring that the cover was suitable for the consumer. The sale of PPI is something that the FSA has been cracking down on over the past couple of years. Read more
House prices could start rising
September 25, 2008
There has been a lot of doom and gloom in the financial news over recent months in relation to falling house prices, with property prices already having fallen for a number of consecutive months. In fact, property values are now said to be at the same level as they were in August 2006, and industry officials are expecting them to continue falling over the remainder of this year and possibly over part or all of next year. Read more
Cost of holidays soaring for Brits
September 24, 2008
Over recent months Brits have seen many different costs soar, such as the cost of food, the cost of petrol, energy bills, and even borrowing costs. A recent report has now revealed that Brits are also to be hit with higher costs when it comes to going on holiday, so those hoping to escape the stresses of life with some time away are going to be hit in the pocket yet again, making it more difficult for many families to take a break in the current financial climate.
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New scheme could help those that fall victim to identity fraud
September 23, 2008
Earlier this month it was announced that a new scheme was to be launched whereby the nation’s three major credit referencing agencies, which are Equifax, Experian, and CallCredit, agreed to notify one another when amending or restoring the credit record of an identity theft victim. This means that those that fall victim to identity theft will now only have to make one phone call rather than having to phone the individual credit referencing agencies as they would have in the past. Read more
Government vouchers to be launched to help with fuel costs
September 23, 2008
According to a recent report the government is to introduce vouchers that may be made available to some families in order to help them cope with soaring energy costs. The voucher plan is estimated to be costing £600 million and those eligible could be in line for vouchers of £50 or £100 to help pay for their energy costs. The scheme is being considered as part of the Prime Minister’s autumn relaunch according to government officials. Read more