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FOS still getting 4,000 PPI complaints a week

FOS still getting 4,000 PPI complaints a week

Five years after the PPI complaints scandal exploded, the Financial Ombudsman Service (FOS) are still receiving more than 4,000 claims a week.

Their latest half yearly figures show that 69% of the cases referred to them have been unfairly rejected by the banks and in some cases that figure is over 90% (94% CYBG and 91% Lloyds).Read More


FCA scam alert for over 55s

Scam alert for over 55s

Britain’s financial regulator has issued a scam alert for potential investors – especially the over 55s with access to thousands of pounds from their pension funds.

The Financial Conduct Authority ScamSmart scheme believes the over 55s face a ‘heightened risk’ of falling prey to scams designed to separate them from their life savings.Read More


New bill will protect pensioners

New bill will protect pensions

A new bill will protect hundreds of thousands of pensioners from losing everything if their auto-enrolment scheme collapses.

Earlier this year, a BBC investigation found dozens of so-called master trusts could be too small to survive, putting the savings of anyone enrolled in them in danger.Read More


Warrington to Rio Carnival

Briefing the Italian team

Talisha, Dan and Kayleigh (left to right) look on as Craig Thomason explains the session activities to Year 5 pupils from Green Lane School who will be representing Italy

Celebrating our fifth year of partnership with Warrington Wolves, as patrons of their Charitable Foundation, we are making 2016 a special Olympic/Paralympic year, inviting 10 Warrington schools to take part in our Warrington To Rio carnival event in June.

For six weeks Gladstone Brookes staff will be partnering Foundation staff to deliver a series of special lessons in the schools designed to prepare them for the Rio event on June 24thRead More


Things to Know About Your Pension

Things to Know About Your Pension

Before we get into the detail about the best way to prepare for those twilight years, think about this question: would you accept a pay rise on which you had to pay no tax? Read on…

Read More


Brexit could wipe ‘thousands’ off house values

Brexit could wipe thousands off the value of a home

A vote to leave the EU in next month’s referendum could wipe thousands of pounds off the value of houses nationwide claim estate agents.

A Brexit vote could see houses in London lose £7,500 and those outside the capital might drop by £2,300 says the National Association of Estate Agents.

Rents

But the report, jointly commissioned by the Association of Residential Lettings Agents (ARLA), says that rents could also fall.

The figures in the report suggest house prices in London would slump because there would be fewer EU nationals wanting to buy. In 2013, 17% of house sales in London were to immigrants from across Europe.

Research

The research also suggests that, if Britain does not maintain free movement of labour after a Brexit vote, the population could fall by more than a million as EU nationals return home.

Separate research by ratings agency Moody’s claims a vote to leave could be good news for first time buyers.

First time buyers

Gary Trinkaus, a senior analyst at Moody’s, says: “First time buyers would benefit from lower competition for housing as house price and rental inflation would slow down if immigration is curbed.”

David Cox, of ARLA, says: “If demand eases to such an extent that landlords cannot recuperate costs, it’s likely we will see a mass exodus from the market, which would then have the opposite effect on demand as supply falls and we’d be back to square one.”

Mortgage rates

Meanwhile Chancellor George Osborne has been warning that a Brexit could well mean a hike in mortgage rates across the board.

The rate set for your mortgage follows market interest rates and if these rates shoot up as a result of Britain’s possible exit from the EU that means your mortgage payments will shoot up too.

Significant shock

The Chancellor has warned that a vote to leave would cause a ‘significant shock’ to the housing market.

“I’m pretty clear that there would be a significant hit to the value of people’s homes and to the cost of mortgages,” he said.

Record low

Britain’s base rate has been held at a record low for more than seven years after the Bank Of England acted to try to boost the economy following the financial crisis.

The current plan is to increase rates slowly as the economy continues to recover, but there have been warnings that a No vote next month could mean rates will increase higher, faster.

By how much?

It is impossible to say how quickly interest rates might rise, or by how much, but the Mirror newspaper has quoted the change during the financial crisis of 2008 when rates were cut from 5% to the current record 0.5% in just six months.

Mirror journalist Julia Rampen says: “Imagine that the other way round.  If your mortgage was tied to the Bank’s rate, in less than a year your bills could go up by a factor of 10.”


SUCCESS STORY – Free PPI check nets £33,395.42

Free PPI check

When Alison Jennings saw a free PPI check advertised on Facebook it mentioned claims against Egg and as she knew she had a credit card with Egg she decided to find out if she might be owed anything.

“Funnily enough it’s the only one I haven’t got anything back on, but I did much better with Lloyds,” she said.

Compensation

Her query was passed to Gladstone Brookes and claims for mis-sold PPI on eight Lloyds loans over the years have netted Alison £33,395.42 in compensation.

Said Alison: “I don’t remember there being any discussions about PPI at the time I signed the agreements.  In fact, I only thought I might have it on the Egg credit card, but not the loans.

Service

“The service from Gladstone Brookes has been great.  I’ve not had to do a lot other than sign some papers.  They looked after everything for me.

“Now the whole of my office and my Mum are starting their own claims to see if they are owed anything.”

  • Since sending in her testimonial, two of the friends Alison recommended have also had successful claims with Gladstone Brookes

MPs warn pension mis-selling could be the new PPI

Pension mis-selling could be the new PPI

MPs have warned the government’s pension reforms could ‘trigger mass mis-selling’ and accuse the government and regulator of not doing enough to protect the public.

The House Of Commons Public Accounts Committee say there is a ‘substantial risk’ of another mis-selling scandal like PPI.Read More


Government will complete Lloyds sell off this year

Lloyds sale to be completed this year

The Treasury has announced the remaining Lloyds shares will be sold off in this financial year.

The move will bring to an end the taxpayers involvement with the bank which was bailed out by the Labour government at the height of 2008 financial crisis.Read More


SUCCESS STORY – I thought GB might be more successful

Tremlett success story

Gary Tremlett had made a successful claim against Lloyds Bank on his own, but when he saw the Gladstone Brookes TV advert he decided to give us a call to see if there was anything else we could do.

Said Gary: “I did make a successful claim on my own, but I wanted to make sure I’d got back all of the money that was due to me, so I called Gladstone Brookes and asked them to help me out.”Read More



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