The Bank Of England has injected £150 billion into the UK economy to fight the economic effect of the pandemic and has said it will do ‘everything we can’ to support the economy. Governor Andrew Bailey said: “We are here to do everything we can to support the people of this country – and we’ll …
Just days after announcing the furlough scheme would be extended to cover the new coronavirus lockdown until Decembe3 2nd Chancellor Rishi Sunak has confirmed it will now be extended across the UK until March 31st next year. He said the scheme would pay up to 80% of a furloughed person’s wages to a maximum of …
The Department for Work and Pensions (DWP) may have to pay £100 million in underpaid pensions to married women. It is understood they have set up a special claims unit for those women who fear they have missed out on the payments. Underpaid The blunder was uncovered after former pensions minister Sir Steve Webb found …
New research has found that almost a third of all over 55s (30%) have felt vulnerable when making financial decisions. The survey also found that three quarters of those spoken to would welcome the support of a financial advisor who was aware of their vulnerability. However, 19% said they would be upset if they were …
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The government has confirmed that the current Help To Buy scheme, which is open to all comers, will not be extended beyond February 28th 2021. But a new scheme – available to first-time buyers only – will start in April 2021 and run until March 2023. Current scheme The current scheme is open to both …
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Sub prime lender Amigo Loans has set aside £150 million as possible payment for a rising number of claims of mis-selling. The firm said it was receiving so many claims that it is likely to see a substantial hit to its profits. Guarantor Amigo lends money to people who are either poor or have bad …
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More than half a million UK businesses are in significant distress because of the economic effects of the pandemic, according to new research. Insolvency consultants Begbies Traynor claimed that the second wave of the coronavirus has put even more pressure on companies still struggling to recover from the first lockdown and it had found 557,000 …
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Financial specialists are claiming that a three year delay in launching the long awaited pensions dashboards is ‘letting down a generation of savers’. The dashboards have been designed to allow pension savers to keep track of all their retirement savings in one place and were expected to be introduced last year. Complexity But the government’s …
Thousands of steelworkers look set for a pension boost after an insurance company buy-out of their pension scheme. The specialist firm Pension Insurance Corporation (PIC) has agreed a £2 billion deal to take responsibility for the retirement funds of 30,000 steelworkers. Forced The British Steel scheme was forced to enter the government’s Pension Protection Fund …
The government has extended the furlough scheme until December 2nd to cover the wages of people unable to work because of restrictions imposed by the new lockdown. The decision was made just hours before the first furlough was due to expire, guaranteeing 80% of the wages of anyone unable to work and is more generous …
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