Number of JSA claimants soars

According to recent figures the number of people that are now seeking Jobseeker’s Allowance has soared, going up to 1.64 million in January. This reflected an increase of 23,500. Read more

Tags: unemployment, Bad news, uk, Employment law, summer, jobseeker's allowance, time, failure

Overdraft interest rate increases from Barclays

Barclays Bank has recently hiked up the interest rates charged on its overdraft facilities on many of its accounts, including its packaged current accounts for which customers have to pay a monthly fee. Read more

Tags: Bad news, customer, Additions, increase, bank accounts, overdraft deals

Delay in bank charges decision from OFT

The Office of Fair Trading has announced a decision to delay the decision with regards to what can be construed as a fair bank charge for those that default on their current accounts. Many experts were expecting a decision from the Office of Fair Trading this month, but the OFT has now stated that the decision will be left until the end of the this year, as further investigation in bank charges is required before any conclusion can be reached.

The decision by the OFT is good news for some people that are waiting to make a claim for unfair and unjustified charges, as it buys them extra time to make their claims without the level of their claim being affected by the OFT decision. The OFT has confirmed that an announcement about the further investigations in to these banks charges will be made around the end of April of this year.

Once a decision has been reached with regards to what is deemed to be a fair charge for those exceeding their overdraft limits and defaulting on their current account in others ways, future claimants will probably only be able to reclaim the difference between what they were originally charged and the amount that is deemed fair by the Office of Fair Trading, so this gives customers extra time to reclaim the full amount for which they were charged. On the other hand, this delay spells bad news for those that were looking to get lower fees from banks in the future.

One thing that has been worrying a number of consumers and experts in the field is the prospect of banks introducing account fees on current accounts if the charges are dramatically reduced in a bid to try and recoup costs.

Tom Smith
23/4/07

Tags: overdraft, Consumer Direct, prospect, delay, end, consumer protection

Rural demand ‘outstripping supply’

Bad news for anyone looking to get a big house in the country as demand is outstripping supply by an average of 15 to one, rising as high as 29 to one in some areas.

Competition is so fierce that even before considering a mortgage to obtain such a property, anyone bidding in Tunbridge Wells, Ascot and Worcester is likely to be competing against 28 others, estate agent Knight Frank said.

Manor houses, farmhouses and country cottages have risen by £4,516, £13,474 and £34,241 per month on average since December while the number of interested buyers has risen by 21 per cent since January.

“The current average price of a manor house has now broken the £3 million barrier,” commented Knight Frank’s head of residential research Liam Bailey.

“Payment of City bonuses together with an increasing international presence in the country house market has aided price growth.”

This means that this is three percentage points ahead of the number of available houses, giving an annualised growth rate of 12.4 per cent.

Tags: Rural demand, manor house, month, estate, said.Manor houses, Business Finance