Consumers still facing financial difficulties should still be protected after payment holidays on credit cards, personal loans and overdrafts end on October 31st says Britain’s financial watchdog. Draft guidance for lenders issued by the Financial Conduct Authority (FCA) warns banks and other lenders not to pursue customers who are still struggling once the period of …
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Government plans to raise the age at which people can gain access to their pension to 57 may be scrapped because it will cost the taxman too much. The rise from 55 to 57 by 2028 was recently announced, but has now been brought into doubt as it is believed the two year delay could …
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Scammers have switched their method of working to impersonating the police, a bank or the taxman to take advantage of the uncertainties brought on by the coronavirus pandemic Figures released by banking trade body UK Finance show almost 15,000 impersonation scams between January and July – 84% up on the previous year – costing the …
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Figures just released claim redundancies could reach as many as 735,000 this autumn as the government’s furlough scheme comes to an end. The data has been collated by the Institute Employment Studies (IES) with a Freedom of Information request and shows employers are planning twice as many redundancies than they did at the height of …
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As the Unite union predicts ‘redundancy floodgates’ will open in Britain Chancellor Rishi Sunak says finding new ways of protecting jobs is his priority. The union has added its voice to the clamour of appeals for the current furlough scheme to be extended beyond the end of October or be replaced with targeted support for …
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A Freedom of Information (FOI) request has revealed that less than 7% of reported pension frauds were passed to police for investigation in 2019. Wealth management experts Quilter found that just 6.6% of cases were forwarded for investigation and is now calling for financial harms in the Online Harms Bill going through parliament. Extremely complex …
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Mortgage payment holidays should continue for those still facing financial difficulties because of the pandemic and be offered to those whose financial situation has become newly affected says the Financial Conduct Authority (FCA). The regulator has issued new guidance to lenders as thousands of borrowers are coming to the end of their current payment holidays. …
A new survey has found that more than 8 million over 55 Brits are worried they don’t have enough money to fund their retirement. The ‘Finances After 50’ survey by insurer SunLife also found 28% of over 50s don’t have either a company or private pension. Less likely The research shows that women over 50 …
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MPs, manufacturers, the CBI and the TUC are all calling on Chancellor Rishi Sunak to extend the furlough scheme which is due to end on October 31st. The Job Retention Scheme, as it is officially known, has been paying the wages of 9.6 million people since April but is due to close at the end …
Britain’s financial regulator has finalised the rules for access to cash across the country following concern expressed about the closure of thousands of bank branches and free to use ATMs. Campaigners have been demanding action over what they see as the creation of potential ‘cashless deserts’. Cash machines Over the last 12 months 13% of …
You do not need to use the services of a Claims Management Company like Money Management Team. You can contact the lender directly for free and if they are no longer trading, you can contact the Financial Services Compensation Scheme providing it falls within their remit. The Financial Ombudsman Service can be contacted free of charge, if you have approached your lender first and wish for them to review your case. You also have the right to seek further advice from other legal firms or consumer organisations, subject to any time limits within which a claim must be made