CV fraudsters targeting financial firms

It has been claimed in a recent report that financial firms and banks could be hit with a flood of CVs and application forms from fraudsters, who have filled the application form with lies in the hope of getting hired and being able to conduct fraudulent activity at the financial institution. Read more

Tags: cv fraud, advertising, work, activity, net

Family values needed by banks says PM

In a speech that will be made at St Paul’s Cathedral in London, the Prime Minister, Gordon Brown, is to appeal to banks and the financial industry to instil more family type values. Read more

Tags: work, gratification, back, family values, G20 world summit, business people, G20, bank

Government stick up for councils over Iceland cash

Following the collapse of Icelandic banks earlier this month it was revealed that over one hundred councils across the country had lost millions of pounds, which they had invested in the Icelandic banks, which then went bust. There was outrage amongst consumers, who wanted to know why the council had been putting money into these banks, and the government was unable to provide any guarantee that the councils would receive back their money. Read more

Tags: right, iceland banks, Politics, compensation scheme guarantees, work, case basis, honour, Local government in England

Free internet for kids in Suffolk and Oldham

A declaration that internet access should be made available to every home in the UK was made back in September by Gordon Brown. As part of this new government scheme to connect everyone in the country the first two sites to benefit have now been announced. Free access to the internet and computers in their homes will be given to Oldham and Suffolk schoolchildren. Read more

Tags: day-to-day school work, work, online, free internet, internet access, web, school work, computers software

Increase in PPI complaints results in further investigation

According to a recent report a huge rise in the level of complaints being received in relation to PPI, or payment protection insurance, has resulted in calls for further investigation into the sale of this type of insurance cover. This cover is commonly sold alongside credit such as loans and credit cards, and the purpose of the cover is to meet repayments on the debt for a set period of time if the policyholder cannot work due to sickness, injury, or redundancy. Read more

Tags: financial industry, financial ombudsman, industry group, investigation, fsa, payment protection insurance, redundancy

Don’t pay through the nose to claim back your bank charges

Experts have been urging bank customers to think carefully before allowing charge reclaim companies to deal with reclaiming bank and credit card charges, stating that often the customer ends up paying a huge chunk of the amount reclaimed in fees to the company. Experts state that some customers are being charged hundreds of pounds but all the company does is fill out some forms that the customer could very easily do themselves. Read more

Tags: reclaim bank charge, agency, company, pay, sums of money, online, work, bank charges

UK consumers saving less

Concerns about the future of the economy has led to UK consumers putting less money into their savings,

Findings from Sainsbury’s Bank show that those in work are saving 6.6 per cent of their income while those who do not have jobs are only putting away 4.8 per cent.

An estimated 16 per cent are saving less than a year ago compared with six per cent who are saving more, according to the figures.

Neil Cameron, savings manager with Sainsbury’s Finance, said: “Many people are clearly finding it difficult to save, with a worrying number unable to set aside anything at all.”

“It is concerning that many people have decreased the amount that they are putting aside in savings since last year,” he added.

On a regional basis, people in Yorkshire and Humberside are saving the least, putting aside on average 4.7 per cent of their monthly income into savings, while people in the East Midlands and Anglia are saving the most at 6.7 per cent.

Meanwhile, more research from the firm shows that spending on cars is set to decrease by £11.1 billion over the course of the next six months.

Tags: east midlands, jobs, work, yorkshire, United Kingdom, savings manager with Finance, income, regional basis

Are you looking for a suitable pension?

Over recent years having a decent pension plan in place has become increasingly important for the younger generation of today. Read more

Tags: pensions, save, fsa, stakeholder, retirement, work

‘Concerned’ Brits struggle with debts

Many Brits are struggling to keep their debts under control as over one in ten reveal they are “very concerned” about their financial situation.

This figure (11 per cent) has gone up from seven per cent in just three months, with around 2.7 million people saying they have sunk further into debt by over ten per cent, according to MoneyExpert.

Sean Gardner, chief executive of the company, commented: “With the festive season just around the corner, we can only predict that the number of people worried about their ability to deal with their debts is likely to increase.

“Christmas is a massively expensive time of year so you can’t help but worry that many more are likely to become increasingly concerned about how they’ll cope.”

However, he said, there are signs that people are beginning to get their borrowing levels down, with 27 per cent of Brits successfully cutting their debts over the past three months.

Mr Gardner added that consumers must, above all, work out a repayment plan and avoid burying their heads in the sand when confronted with debt.

Tags: work, Business Finance, Sean Gardner, Brits, repayment plan, borrowing, sand, situation

PMI customers can enjoy hefty discounts by staying fit

A recent report has shown that there has been a rise in the number of people taking out private medical insurance this year compared to last year.

The rise of around 1.5% is thought to be because many PMI providers are offering huge discounts to those that are prepared to try and stay fit and healthy, which means that many consumers can enjoy far lower premiums. In the past the level of interest in this type of cover had fallen due to increased costs on premiums.

Some PMI providers are now offering discounts of up to 75% to consumers that have no serious health problems, do not smoke, go to the gym, and lead a healthy lifestyle, as these factors all reduce the risk of claims. In addition, many PMI providers are now also offering no claims discounts to consumers, much in the same way as car insurance companies do, and in some cases these discounts can be transferred if the consumers switches provider.

In some cases insurance companies are allowing consumers to pay larger excesses, which helps to keep the cost of premiums down further. One industry official stated: ‘We found many people were prepared to pay a much higher excess in return for lower monthly premiums. This is especially true of the elderly, who often have more savings in place than younger policyholders. It gives customers more options.’

In addition to leading healthier lifestyles and paying higher excesses, consumers that want to enjoy the protection of private medical insurance should also shop around for the most competitive deals, as this can also help to ensure that the cost of cover is kept down. One official stated: ‘Savings can be made by switching insurer to a more competitive policy, even for the over-60s. The advantage of many of the policies offered by smaller companies is that premiums do not rise so sharply. This is because they have fewer claims.’

Tom Smith
20th September 2007

Tags: lifestyle, Insurance, train, healthy, claim, policy, work, fit

Mortgage fees soar

In an increasingly competitive industry, mortgage purchasers might be being tricked into paying massive fees by deceptive advertising, a financial service website reports today.

According to Moneyfacts.co.uk, lenders have increased their fees by over 600 per cent in the last two years, with no difference in the amount of work being done by them to sell the house.

A common technique by lenders to artificially enhance their position in mortgage ‘league tables’ is to switch their own charge to the arrangement fee, thereby making them appear to be able to highlight a lower general interest rate.

Therefore customers – who naturally tend to focus on the headline interest rate as a guide to their decision – pay more than the advertising suggests, a situation which a spokesperson for the website today termed “objectionable”.

Mortgage brokers advise prospective buyers to include the range of payments, including lender’s fees, rather than just focussing in on the interest rate.

Tags: arrangement fee, decision, technique, work, interest rate mortgage, headline, mortgage brokers, business

New graduate deals from RBS

This year’s set of graduates are being offered £2,000 interest-free by the Royal Bank of Scotland so that the pressure is off somewhat during their first three years of work.

Nicknamed the Graduate Royalties offer, it consists of two distinct options. Graduates can either go for a three-year interest-free stepped overdraft facility of up to £2,000 or the aforementioned interest-free loan.

“Many graduates feel under financial pressure after leaving university, so to help in easing that pressure, we have a great team of advisers on hand in our branches,” said Katie Cassidy from the bank’s graduate banking department.

“They can talk to graduates about any concerns they may have with the financial transition from studying to finding employment.”

Other perks that come with the account include a 25 per cent dining discount at over 450 restaurants in the UK, commission-free travel money and ten per cent off selected holidays.

Tags: Business Partnership, work, Royal Bank of Scotland, restaurants, commission-free travel money

DIYers hope to add £5k to property value

More and more of us are carrying out home improvements, with the majority doing so to increase the value of our property.

New research by Halifax shows that people with a mortgage are becoming more active when it comes to DIY and over a quarter of us believe that the work we have carried out in the past 12 months will add £5,000 to the price of our homes.

Home improvements have increased in popularity in the last year, with 58 per cent of homeowners having carried out some work – 12 per cent higher than the previous year.

In addition, young homeowners are doing more work, with redecorating still the most popular improvement in the country.

Gardens have become the second most popular area to focus our DIY skills on, with 41 per cent of mortgage-holders doing some kind of work in the yard.

The kitchen is the area most people would like to change in their home, however, the work does not often get done with finances and lack of know-how being touted as the most common restricting factors.

The cost of home improvements can be stifling and many people are forced to take out a loan in order to be able to afford the work.

Halifax found that 11 per cent of homeowners have spent over £10,000 on improving their property in the last 12 months.

A further 33 per cent spent between £2,500 and £10,000, while 51 per cent forked out anything up to £2,500.

Homeowners are encouraged to ensure that they can realistically afford any home improvements that they may be planning before starting the work.

Tags: homes.Home improvements, quarter, year, work, country

Personal loans an option for home improvers

Personal loans are an option that people considering carrying out expensive work on their homes should consider, Alliance & Leicester has said.

According to the company, improvements such as loft conversions can add up to £100,000 to the value of a home.

However, developments like these do not come cheap, with the average cots of a dormer loft conversion currently around £23,000.

Many homeowners may instantly think to add such an expense to their mortgage, but Alliance & Leicester claims that a personal loan could be up to £15,000 cheaper in terms of interest payments.

“Carrying out home improvements instead of moving can have amazing results, potentially increasing the value of your existing property and also saving a great deal of money as well,” said Richard Al-Dabbagh, senior personal loans manager for Alliance & Leicester.

“If you are looking to undertake a sizeable home improvement, there will be a massive temptation to simply take out a further advance on your mortgage. But a personal loan could represent a cheaper alternative for those who can afford higher monthly repayments over the shorter term.”

Tags: home improvement, loft conversions, interest payments, property, work, alliance, dormer loft conversion

Workers not insured for absence

A large number of Britons are losing big sums of money due to taking time off work for illness and injury.

Research from Standard Life shows that the average worker has lost £5,320 through being forced to take time off work.

In total, 34 per cent of Britons have missed more than a week of work as a result of injury or illness, with 58 per cent of those missing more than a month and 17 per cent more than a year.

Despite the large number of people taking long periods of time off work, research shows that only eight per cent of these people had insurance to cover the loss.

“Income protection is a key part of personal financial planning often overlooked by consumers,” said Mick James of Standard Life.

“The state will currently pay a maximum of £78.50 through incapacity benefit for every week someone is off on long-term sick leave, although other benefits may also be available like housing benefit or a reduction in council tax.

“People should understand the risks they face if they don’t have a way of replacing lost income during a period of enforced absence from work,” he added.

Standard Life’s research found that just one in 12 people had insurance, while the majority (23 per cent) said they had coped with the financial loss in the past by borrowing from friends and family.

Tags: taking time, work, someone, tax, Council Tax, long periods, long-term sick leave, loss."Income protection