Developers under investigation over leasehold trap

Developers under investigation over leasehold trap

Britain’s competition watchdog is investigating four of the country’s top housebuilders over the way they are selling leaseholds. The Competition Market Authority’s (CMA) year long investigation into Barratt Developments, Countryside Properties, Persimmon Homes and Taylor Wimpey has now been escalated and the four are facing enforcement action. Ripping off All four are accused of ripping …

PPI claim ‘smoothing’ triple lock could save £15 billion

PPI claim ‘smoothing’ triple lock could save £15 billion

A respected pensions think tank has claimed that ‘smoothing’ the mechanism of the UK’s triple lock pension system would be better than switching to a double lock and would still save £15 million. Concern has been expressed that the effect of the coronavirus pandemic could play havoc with the current triple lock system because of …

‘Lost’ pensions problem could triple by 2035

‘Lost’ pensions problem could triple by 2035

The Pensions Policy Institute (PPI) believes Britain’s £19.4 billion ‘lost’ pension problem could treble over the next 15 years. Auto-enrolment into workplace pensions has been broadly successful since it started in October 2012, but the PPI claim that very success could create future problems as workers move from job to job. Multiple pots Researchers say …

Claims for mini-bond mis-selling soar

Claims for mini-bond mis-selling soar

https://github.com/GCMDigital/gb-staff-intranet-v3.git A spokesman for the Financial Services Compensation Scheme (FSCS) said that it is now processing claims against B&G Finance, which is linked to an unregulated firm Basset & Gold, which may have mis-sold mini-bonds to investors since March 2018. Final cost The lifeboat body believes the final cost could be as high as £36 …

UK lenders make £27.5 billion Covid loans to firms

UK lenders make £27.5 billion Covid loans to firms

Figures just released show Britain’s lenders have provided £27.5 billion in financial help to more than 650,000 firms affected by the Covid-19 lockdown so far. The money has come through the three main government-backed lending schemes of the Bounce Back Loan Scheme (BBLS), the Coronavirus Business Interruption Loan Scheme (CBILS) and the Coronavirus Large Business …