Disabled travellers should always check insurance, says expert

Tourism for All has advised disabled travellers to make sure they have the right type of insurance before they go abroad to ensure they are covered in the event of something going wrong.

Brian Seaman, head of consultancy at the charity, said holidaymakers with disabilities should find out whether any equipment they use, such as wheelchairs, is covered by their insurance policy while they are on a break in another country, or whether they will need to extend their cover plan.

In related news, esure recently advised travellers jetting off for an action-packed trip abroad to make sure they check the detail of their insurance policy before they leave.

Mike Pickard, head of travel insurance at esure, commented: “With a surge in the popularity of…more adventurous sports…it’s crucial for holidaymakers to take out travel insurance and check they’re covered before they try out the likes of white water rafting in Australia or shark-feeding in the Bahamas.”

Tags: white water rafting, head, travel, consultancy, mike pickard, right type, wrong.brian seaman, disabled travellers

HSBC: Rate matcher offer extended

HSBC has announced that all UK homeowners who are due to come off their fixed-rate mortgage deals before August 31st will now be able to apply for the bank’s rate matcher mortgage offer. Read more

Tags: Financial services, lending, finance, mortgage repayments, head, hsbc ratematcher, fixed rate mortgages

Tenants advised to take out contents insurance

Tenants should take out contents insurance and speak to their landlords about investing in improving security, since this could reduce their insurance premiums, says Direct Line.

People renting property from landlords should make sure they have contents insurance that covers the full value of their belongings, particularly since it is “often a lot cheaper than you expect,” according to head of Direct Line home insurance Andrew Lowe.

A Homeserve survey from April 2008 found that more than 60 per cent of people in the UK had experienced a home emergency in the past 12 months, with the average bill totalling £494.

Despite this, Moneysupermarket.com recently reported that 40 per cent of property owners do not have home insurance.

The cities where people are most likely to be burgled are Nottingham, London and Bristol, whereas Guilford, Dundee and Norwich were found to be the safest cities by insurance company Endsleigh.

“Investing in good quality locks for doors and windows will not only offer you peace of mind, but will also reduce your premiums,” advises Mr Lowe.

Tags: norwich, mind, guilford, head, home insurance, mr lowe, Dundee, GBP

More women responsible for household finances than men

Women are more likely than men to be responsible for financial decisions in UK households, according to new research.

A study by Family Investments, a Child Trust Fund (CTF) provider, found that 59 per cent of women are in charge of decision-making regarding family money.

These findings corroborate research by Norwich & Peterborough Building Society released last month which showed that although 74 per cent of men are still the primary earners within a family, most financial decisions are either made together or by women.

In particular, women were found to take control of day-to-day spending on their children and homes.

“Indeed, this puts the myth of the father as the financial head of the family to rest,” commented Gary Lacey, group product manager at Norwich & Peterborough.

Two-thirds of women prefer to do their banking over the internet, even though only 20 per cent open their online bank account via the internet, according to the study.

Women also seemed more knowledgeable about children’s savings products than men, with over 60 per cent identifying that CTFs are a tax-efficient savings option.

Tags: investments, manager, two thirds, head, household finances, month, Financial services, online

Over a million ‘lie’ to insurers

Over a million people have knowingly given false information to insurers, new research suggests, meaning that their policies could be invalidated.

An even greater proportion admit to guessing at certain details because they do not have the time to find out the necessary information, according to research from Sainsbury’s Bank.

Extrapolating the results of the survey to the population at large, Sainsbury’s Bank’s findings suggest that 1.12 million people have deliberately lied on insurance forms and 12.59 million have estimated figures.

Home insurance was the area provoking the greatest levels of dishonesty, with 18 per cent of respondents admitting to lying. Car insurance was second, with 15 per cent.

Nevertheless, it was those guessing at crucial figures that caused Steve Johnson, head of Insurance at Sainsbury’s Finance, greatest concern.

“It really is quite concerning that so many people seem to think it doesn’t matter if they take a guess at the information requested at the point of taking out cover. Although it may seem like a good idea in an effort to save time, it could become a real headache later when they find they have invalidated their claim,” he warned.

“We would encourage people to always take the time to go back and check any details.”

Tags: head, population, Extrapolating, false information, crucial figures, home, headache, Insurance

Look to remortgage in advance

With conditions within the financial markets currently volatile, one expert has suggested that homeowners looking to remortgage ought to review their options months before their existing deal runs out.

Ray Boulger of John Charcol said that lenders are choosing to change their mortgage rates “increasingly quickly” and most new rates tend to be “higher than the ones they replace”.

The expert advised borrowers wanting to remortgage to “investigate their options as much as six or seven months before their current deal ends, because some mortgage offers are valid for six months, although others only last three months”.

Mr Boulger also suggested that people seeking to buy a new home ought to speak to a broker first to find out what mortgages are currently available, given increasingly tighter lending criteria.

Commenting on the decision taken by the Bank of England to keep the base rate of interest at 5.25 per cent, David Kuo, head of personal finance at Fool.co.uk, said that the news will be “disappointing” for homeowners.

Tags: advance, interest, head, remortgage, finance, homeowners, tighter lending, decision

Body part insurance ‘relatively uncommon’

It is “relatively uncommon” for an everyday consumer to insure a body part that their livelihood may depend on, one insurance expert has claimed.

The British Insurance Brokers’ Association (BIBA) said it is a very limited market and that those who want this sort of product would have to go to a specialist insurer.

Peter Staddon, head of technical services for the BIBA, said that insurance in this field usually covers a person for any scarring and disfigurement that may prevent an individual from working, such as a hand disfigurement preventing a carpenter or sculptor from earning a living.

He said: “If you get somebody who’s got an annual income, of, say, a quarter of a million pounds, you can justify them insuring themselves for one or two million.

“If you’ve got somebody who’s annual income is £10,000, it’s difficult to justify a £2 million life policy.”

Meanwhile, the Telegraph reported that many celebrities have various parts of their body insured as that is their livelihood.

Pop star Bruce Springsteen recently took out cover for his voice worth $3 million (£1.5 million).

Tags: head, sculptor, british insurance, expert, who's annual income

Northern consumers spend more

People in London spend less on nights out and entertainment than consumers in the north and Scotland, according to a new survey.

Following research that British singletons have a higher disposable monthly income than those in a relationship, David Kuo, head of personal finance at Fool.co.uk, said that Londoners spend slightly less money than their northern counterparts when it comes to going out and socialising,

“The Scots spend about around £74 a month, people in the north spend £72 a month and Londoners only spend around £61 a month,” he stated.

However, the research from Fool.co.uk revealed that while Northerners are more inclined to spend money on going out, Londoners spend more on nights in and dvds.

The research also showed that the average single Brit is £255.42 per month better off than those in a relationship.

Single Brits spends £281 a month on rent and bills, compared with the £500 paid out by someone in a relationship, meaning the singletons make a massive £2,600 saving per year on rent alone.

Tags: northern counterparts, David Kuo, entertainment, Northerners, head, massive £2, Brits

Professional mortgage market could avoid credit crunch effects

Consumers looking for a professional mortgage are “best placed” to escape the effects of the credit crunch unscathed, claims one housing market expert.

Scottish Widows said that the recent economic turmoil had caused a reduction in the number of 100 per cent mortgage products available.

It could also lead to the remaining products becoming more expensive.

However, Richard Clark, head of product development and marketing for Scottish Widows, said: “The impact on this area of the market has been very much less than everywhere else because there are lenders who haven’t changed any of their criteria for professionals at all.”

Those customers who are looking for a professional mortgage are the “best placed” to get an expanded loan to valuations or income multiples on their salary, he added.

Mr Clark concluded that it could be that the only lenders who are prepared to offer 100 per cent mortgages could be those who specialise in the area.

At the end of January 2008, the BBC reported that the number of new mortgage approvals had fallen for the seventh consecutive month in December last year.

Tags: head, cent mortgage products, housing, december, expert, bbc

Shopping around can improve “financial fitness”

Consumers can improve their “financial fitness” by shopping around for the best deals on mortgages, credit cards and insurance, claims one financial expert.

Abbey said that there is certainly more that most consumers could do to ensure their finances could be improved and looking around for a better deal could make a big difference to the amount of money paid out.

Nici Audhlam-Gardiner, head of mortgages with the company, said: “It’s all about discipline, in the same way that you can be physically disciplined if you decide to get physically fit.”

She added that it is unlikely that someone who set up a bank account ten years ago is still receiving the best interest rate on the same deal.

Looking around for different offers can make a “big difference on your month by month basis, in terms of how much you’re earning”.

According to research conducted by ICM for Abbey, 21 per cent of people renewed their home insurance without shopping around and four per cent do not have any home insurance at all.

Tags: head, credit, best interest, account, expert, Financial economics, Nici Audhlam Gardiner, abbey

Consumers better barometer of inflation than statistics

Spenders maybe “a better barometer of inflation” than statistics from the government’s Office for National Statistics claim financial experts.

Findings from research conducted among Fool.co.uk’s readers reveals that many believe inflation to be between six and seven per cent rather than the two per cent stated by the government.

David Kuo, head of personal finance at Fool.co.uk, said: “We are slowly beginning to see that these inflation figures are slowly beginning to feed through.”

He added that although at the moment interest rates are seen to be coming down because the Bank of England is very worried about a recession, “we do honestly believe that there is inflation within the economy”.

This time last year, the BBC reported that inflation was at an 11 – year high as higher fuel costs helped to push up the consumer price index (CPI) to 2.7 per cent in November.

On January 10th, the Bank of England voted to maintain the Bank’s rate at 5.5 per cent, having cut the rate by 0.25 per cent back in December.

Tags: fuel costs, bbc, research, inflation, cent, head, Fool.co.uk's readers, government

BOE warns mortgage defaults to increase

Defaults on mortgage payments are expected to increase this year, according to the latest research from the Bank of England.

The Bank’s Credit Conditions survey revealed that borrowers and small-to-medium-enterprises are expected to find it increasingly difficult to source loans after the tightening of lenders’ belts due to the effects of the credit crunch.

The Council of Mortgage Lenders said that the findings increase the likelihood of a further cut in interest rates.

Bob Pannell, head of research at the CML, said: “This survey corroborates other evidence of worsening market sentiment. This may increase the chances of interest rate cuts sooner rather than later if inflation remains subdued.”

He recommended that consumers should re-evaluate their finances to avoid coming financially unstuck.

The number of borrowers who default on their payments is expected to the rise as a number of fixed rate mortgages expire over the next few months.

The Bank cut interest rates to 5.5 per cent last month, the first cut for two years.

Tags: finance, economics, belts, loan, mortgage payments, Financial crisis of 2007–2009, source, head

Longer term mortgages popular with first-time buyers

Longer term fixed rate mortgages have proven “increasingly” popular in recent years, especially with first-time buyers, claims an industry expert.

Head of residential lending at Mortgage Express, Tim Anson, has said that newcomers to the market appreciate the “peace of mind” offered by fixed deals.

Purchasing a property through a fixed deal allows first-time buyers the chance to get used to managing a budget and meeting the costs of running their first home.

“For most people a mortgage is the biggest financial commitment they will ever undertake, and increasing numbers of borrowers have sought the certainty provided by fixed rate deals in recent years,” he said.

However, as interest rates are predicted to fall in 2008, fixed rate deals could look uncompetitive in the future Mr Anson warned.

Last week the Council of Mortgage Lenders reported that 42 per cent of borrowers would choose a fixed rate mortgage.

However over half of these would opt for a short term deal under five years long.

Tags: newcomers, head, fixed rate deals, loan, Head of residential lending

OFT helps to ‘Save Xmas’

A scheme aimed at advising people on their Christmas saving options launched earlier this year is to be continued.

The Office of Fair Trading (OFT) has announced new funding for the “Save Xmas” campaign, through which community groups and consumer bodies explain directly to people in their areas what their options are for saving safely and wisely over the year.

The scheme was in July in the wake of the collapse of the Farepak Christmas hamper savings scheme late last year, which saw many people lose all the money that they had put away over the year for Christmas presents when the company went bust.

Save Xmas helps savers to identify the most suitable schemes for them, and the OFT has produced a leaflet, a short film and background research to support the local training sessions.

Sue Cook, OFT head of consumer and business education, said: “We are delighted to be able to provide additional funding to our partners at grass roots level. Citizens Advice’s involvement has been fundamental in delivering the Save Xmas campaign to local communities.

“We would urge groups and organisations who are interested in delivering Save Xmas training and helping people make choices that best suit their needs when saving for Christmas training to contact us promptly.”

Tags: head, suit, Consumer Focus, best suit, Hamper, local training, Christmas saving options, advice

Credit card Christmas spending likely to soar

Consumers are planning to splash out this Christmas on credit, and could find themselves in financial difficulties as a result.

Having studied the latest Bank of England consumer credit data, credit reference agency Callcredit found that last Christmas, vast amounts were borrowed on cards.

60 per cent of the whole of 2006’s credit card lending took place in December last year, and Callcredit has warned that this is likely to be repeated this year.

Indeed, with many experts warning that unsecured personal loans are getting harder and harder to get hold of, thanks to the impending credit crunch, this year’s figure could be even higher.

Head of consumer finance at Callcredit, Mark Ward, warned: “From our review of these statistics, and in spite of the widely reported credit crunch, we’re still anticipating that many consumers will turn to credit at Christmas in order to fund their spending.”

“Worryingly, it could be these people who may find it more difficult or expensive to borrow on credit,” he added.

Tags: consumer, consumer credit data, callcredit, crunch, christmas, consumers

Garden threat

Mortgage holders are set to spend £56 million on their gardens in the next three months.

That is according to research by insurance firm esure, which says that 92 per cent of us who have a garden are preparing to invest some time and money into it.

One in ten of us is prepared to fork out over £500 and esure is warning that by doing so, we are increasing the value of our household contents.

The firm warns that as we approach the longest day of the year (June 21st) our new possessions could be at risk of being stolen from the garden and if we do not have adequate insurance cover we may be forced to foot the bill.

The summer months are a peak time for garden theft but esure says that 52 per cent of homeowners have never even considered improving the security of their garden.

In addition, many people regularly leave items such as bikes and lawnmowers outside over night, tempting thieves to strike.

Nikki Sellers, head of home insurance for esure, says that many people will be spending more time outside as the weather improves but this could leave them open to theft.

“It is all too easy to retire inside as it gets darker, leaving items unsecured in our gardens or sheds unlocked as easy targets for opportunistic thieves,” she said.

“But these investments need protecting. It is imperative that everyone should get in to the habit of safely tidying away and locking up their garden gear whilst also taking reasonable care of securing their household perimeters.”

Homeowners are advised to lock up all valuable items that are left in the garden and get insurance that covers the contents of the garden.

Tags: night, valuable items, easy targets, longest day of the year, June, home, head

Mortgage payments up 15%

Mortgage payments across England and Wales are increasing, leaving many homeowners in a precarious situation.

New figures, published by Woolwich Mortgages, shows that mortgage payments in April of this year reached £590.

That is an increase of £78 on the figure for the same month in 2006 and signals a rise in costs of 15 per cent.

Clearly this is going to have an effect on the financial situation of many homeowners and this is compounded by the fact that household net earnings have only increased by five per cent in the same time period.

Andy Gray, head of Woolwich Mortgages, is concerned that many people will be beginning to feel the pinch, especially if further interest rate rises are introduced.

“Mortgage borrowers are really getting squeezed. With the costs of council tax, petrol, food and drink, as well as mortgages, all increasing, consumers are seeing a large amount of their earnings being diverted to essentials, putting real pressure on disposable income,” he said.

“Most commentators are suggesting that interest rates will increase further this week. However, our research shows that that the three interest rate increases over the last 12 months are already starting to have a major impact on borrowers.”

The figures released for April put mortgage payments at the highest level they have been since Woolwich began collating the data in 2002.

Tags: head, research, interest rate, precarious situation, Super jumbo mortgage, disposable income

Insurance sells process must improve

Firms which sell general insurance have been told that they must improve their standards when cold calling potential customers.

The Financial Services Authority (FSA) is concerned that customers are not being treated fairly and the organisation is demanding that standards improve.

Research by the FSA, which looked at the sales processes of 43 firms, found that the standard of sales were poor when the company contacted the customer.

“The quality of cold calling in general insurance sales was disappointing – consumers were pressurised and the benefits of the product were sometimes exaggerated,” said Vernon Everitt, director of retail themes at the FSA.

“We expect to see significant improvements when consumers are cold called. Swift action has been taken to deliver those improvements at the firms we visited and we are following up with other firms which use cold calling as part of their sales strategy.

“The bottom line is that firms must never pressurise consumers into making a rushed decision and must always clearly spell out the nature and limitations of the products,” he added.

The FSA advises consumers to make sure that they do not make a rushed decision and keep a cool head when being sold a product which they did not enquire about.

The same piece of research from the FSA found that the standard of sales was high when a customer initiated the phone call.

Tags: general insurance sales, strategy, organisation, Cold calling, insurance sales, head, Economy of the United Kingdom, swift action

Over 55s not ready for retirement

Millions of Britons aged 55 or over have not even begun to think about life after retirement.

That is according to new research by Abbey which found that around two million people in this age group have given it no thought at all.

In addition, 4.5 million people have not made plans for what they will do once they stop working.

This statistic is worrying many observers who say that many people are going to head into retirement and face a financial crisis due to their wayward banking.

The next generation is not looking much better either, with 1.8 million people between the ages of 45 and 54 not having considered retirement.

“This research shows the potential retirement time bomb that the 50 plus generation are facing,” warned Reza Attar-Zadeh, head of savings at Abbey.

According to Abbey’s study, one million people over the age of 55 feel that they will have to work through their retirement as they have little money put aside.

Added to this, 1.5 million in the same generation say that their home is their only form of financial insurance to see them through their twilight years.

Tags: head, Financial services, crisis, group, Social Issues, retirement, Generations and Age Groups, one million

HSBC launches zero-fee mortgage policy

Those people averse to paying a fee on their mortgage may be enthused by HSBC’s new offering.

Available for a limited period until April 30th, every new HSBC mortgage taken up with the group will be fee-free.

During the peak spring homebuying season, people looking to invest in bricks and mortar can take up fixed-rate, tracker and discount HSBC mortgages with the usual booking fee of £499 waived.

Standard valuation, completion fees and exit fees will also not be applicable to HSBC mortgages.

Rob Chesters, head of mortgages at HSBC, said there had been a “proliferation” of high arrangement fees across the market “which can wipe out the savings made by re-mortgaging, particularly if the fee is wrapped up into the mortgage loan”.

He added: “However, it’s not just about upfront costs – further borrowing fees, admin fees and duplicate statement fees can all add up.

“Exit fees, in particular, are difficult for borrowers to compare – but while other lenders have been putting their exit fees up, HSBC’s has remained exactly the same – zero.”

HSBC mortgages also possess no higher lending charges, with flexible payments facilities also featuring.

Tags: mortgages.rob chesters, head, spring homebuying season, borrowing fees, head of mortgages, United States, tracker

Household spending rises

We are spending more on household appliances such as kettles and fridges.

That is according to Halifax Credit Cards which points to a disparity between how much we spend and how much appliances cost in comparison to previous years.

The firm points out that in 2005 we spent an average £4.32 on appliances per household every week.

In 1995, however, we spent just £3.62 per week yet the cost of household appliances has fallen by 15 per cent in that time.

Halifax has calculated that we now spend 29 per cent more on appliances than we did ten years ago but we are getting more for our money as prices have plummeted.

The firm says that many consumers are choosing to pay for their household appliances with a credit card as they see a number of benefits when buying items in this way.

“When purchasing household items there is nothing more disappointing than the item not being delivered or finding it to be faulty,” commented Ken Stannard, head of Halifax Credit Cards.

“When purchasing with a credit card, all appliances over £100 are covered by Section 75 which means we will give you a full refund if the goods do not arrive or are found faulty.”

Although there are some clear benefits of paying for products with a credit card it is imperative that consumers ensure that they can keep up any repayments to avoid falling into a spiral of debt.

Tags: halifax, stannard, repayments, previous years.The firm, Halifax Credit Cards."When

Subsidence risk for 100,000 Londoners

Around 100,000 homes in London face an increased risk of subsidence due to the growing trend of turning front gardens into driveways.

That is according to esure home insurance, which carried out research including a report from the British Geological Society.

The report details how driveways cause rainfall to run off into drains rather than filtering down to the soil where tree roots lay waiting.

As the roots receive no water they move to seek some out, leading to changes in soil moisture beneath foundations.

“It is very appealing for homeowners in busy streets to create a bespoke parking space for their property,” said Nikki Sellers, head of home insurance at esure.

“Unfortunately, for houses with a street tree or large front garden tree nearby this can significantly increase the risk of subsidence.

“A dedicated space may increase the value of your home but subsidence damage will do quite the reverse,” she added.

Homeowners are being warned to do their research before installing a driveway or patio and are advised to take out adequate insurance if they are concerned about subsidence.

Tags: head, Insurance, bespoke, report, Esure, property

PPI complaints set to soar

The number of complaints concerning payment protection insurance (PPI) could run into the tens of thousands.

According to financial research company Defaqto there may be a huge surge in complaints, but the firm warns that consumers may not be better off as a result.

A report by Defaqto highlights that lenders may increase rates and charges on money borrowed in order to make up for the loss of PPI income.

The firm also warns that bank charges may be imposed for some customers, spelling the end of free banking and, potentially, putting many consumers in a worse situation than they are currently in.

Defaqto is calling upon lenders to work hard to increase public confidence in the PPI market by becoming more open.

“Too many customers do not realise that they have the right to shop around for payment protection insurance,” said Brian Brown, head of insurance at Defaqto and author of the report.

“Therefore the industry must widen public understanding of PPI through greater transparency if the market is to be seen to be operating competitively and in the best interest of consumers.”

Mr Brown says that consumers should be made aware that they can get a loan from one bank, yet get PPI cover from another.

If you are considering taking out a loan it may be worthwhile getting PPI in order to protect yourself should your personal circumstances change and you are unable to keep up repayments.

The important thing to remember is that you are able to shop around for the policy that best suits your needs.

Tags: money, public confidence, Mr Brown, head, consumers."mr brown, realise, worse situation, research company defaqto

First-time buyers making sacrifices

First-time buyers are prepared to give up many of their creature comforts in a bid to get onto the property ladder.

That is according to research from Abbey, which shows that 53 per cent of people are willing to give up their holiday, while 49 per cent would be prepared to not drink alcohol.

Many potential buyers (21 per cent) say that they would sacrifice their independence by moving back to their parents’ home while saving for a mortgage.

A total of nine per cent of those asked are willing to take even more drastic action by splitting from their partner if it meant that they could buy a home sooner.

“With first-time buyers struggling to get onto the first rung of the property ladder, prospective homeowners are having to make big sacrifices to build their finances,” said Nici Gardiner, head of mortgages at Abbey.

“However with a typical first-time buyer taking as long as five years to save up a five per cent deposit, people would need an iron will to sacrifice anything they enjoy for that long.”

Recent figures from the Royal Institute of Chartered Surveyors show that accessibility has got 230 per cent worse in the last ten years due to very sharp increases in house prices.

Abbey says that the average first-time buyer needs to raise £32,784 in order to get onto the property ladder, the equivalent of 81.8 per cent of the average joint income.

Tags: surveyors, anything, Gardiner, property, research, First-time, head, house

Potential PPI refund

Consumers could save themselves large sums of money by seeking a better deal on their payment protection insurance (PPI) for a personal loan.

That is according to the Post Office, which says some borrowers may find that they could save thousands of pounds.

The firm points out that PPI that is sold alongside a loan is normally added to the total sum of the amount borrowed, meaning the consumer will pay interest on the insurance.

Customers are now being urged to challenge their lender and could find that they receive a refund for the interest charged.

“The refund could be substantial, so people shouldn’t miss out,” said Claire Oldstein, head of communications at the Post Office.

“Banks and loan providers are in an ideal position to sell insurance with their loans, but customers should challenge them to find out what the true cost of their payment protection is.

“By comparing this to standalone policies, customers can see for themselves that better value deals are available,” she added.

The Post Office has recently called for an open PPI market in response to an investigation by the Office of Fair Trading.

The organisation wants it to be mandatory that consumers are told by lenders that they can get better or cheaper policies by shopping around.

Tags: total sum, shopping, payment, organisation, head, sum, consumer

More Brits banking online

Britain is becoming a nation of internet bankers, with new figures showing that we are becoming more comfortable with sorting out our finances online.

New research, carried out by Lloyds TSB, shows that over two thirds of us do the majority of our banking on the internet.

This is a huge leap when compared to 2005, when just 18 per cent of Britons said most of their banking was done online.

Despite the common perception that the internet is the plaything of the young and not well used by older people, Lloyds found that, when it comes to banking, the opposite is true.

A staggering 70 per cent of people over the age of 50 said that they prefer to do their banking online, while those aged between 18 and 25 are the least likely to manage their finances in this way.

“The growth of internet banking is phenomenal and this year is set to break records,” said Anita Hockin, head of internet at Lloyds.

“This popularity isn’t surprising given the convenience of banking online. It’s possible not only to check your balance, but also to pay bills, set up standing orders and direct debits and move money between accounts at the touch of a button.”

Lloyds’ research found that of the ten per cent of people that do not bank online, the main reason given was that they do not feel the need.

Tags: online, Banking Services, Business Finance, growth, Technology Internet, head, majority

What Is Material Fact And Why Is It So Important?

The Fact of the matter

The insurance business is full of words that seem like jargon, but the fact of the matter is that the words used often mean very precise things because these insurance policies are contracts. “Material Fact” is one expression that you are likely to come across. Read more

Tags: head, Insurance, happy ending, material fact, finance