Britain’s mortgage war is heating up

Britain’s mortgage war is heating up

As Britain’s housing market shows signs of cooling, the war between lenders to offer the most tempting mortgages is heating up. Challenger bank Atom recently offered ‘Britain’s cheapest ever’ mortgage deal at a 1.29% five year fixed rate, but was forced to withdraw it just a week later due to massive demand.

Workers losing £200 a year to pensions top-ups

Workers losing £200 a year to pensions top-ups

A new report claims thousands of workers could be suffering from lower pay because their employers are spending millions topping up their pension schemes. The Resolution Foundation says workers for these firms are ‘unfairly losing £200 a year’ as their employers fight to keep their final salary pension schemes afloat.

More mis-selling trouble for Lloyds?

More mis-selling trouble for Lloyds?

Lloyds Bank is writing to more than 7,000 customers who were mis-sold ‘low risk’ investment products which turned out to be high risk. Times banking editor Katherine Griffiths says the bank may have to pay out £80 million in compensation over the sale of the products according to estimates from the bank’s own union, LTU.

Record high for pension scams

Record high for pension scams

Recorded losses for pension scams climbed to a record high of more than £8 million in March. City of London police said losses had rocketed up from £779,000 reported by 12 individuals in February to an amazing £8.6 million reported by 24 victims in March.

Pensions Regulator warns of ‘unacceptable risk’

Pensions Regulator warns of ‘unacceptable risk’

The Pensions Regulator (TPR) has issued a strong warning of ‘an unacceptable risk to consumer protection’ of new ‘micro’ pension schemes. The regulator has made tackling the ‘sub-scale’ schemes a top priority in its three year corporate plan.

Car finance – the next PPI?

Car finance - the next PPI?

Could personal contract plans for car finance soon become the new PPI? The UK’s financial watchdog is sufficiently concerned about the way the finance is being sold that they have launched a special investigation.