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npower must give away free energy

npower has been ordered to give free energy to customers whose complaints it did not resolve on time. The energy regulator, Ofgem, said households which had an ombudsman ruling outstanding for more than 28 days against the company would get free power and may also have their debts written off.

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Interest only mortgages making a come-back

Interest only mortgages are making a come-back on the high street as lenders become increasingly involved in a ‘rate war’ to win new customers and boost revenues. The number of ‘riskier’ mortgages is also on the increase, according to the comparison website, Moneyfacts.

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FCA chief ousted by Chancellor

Martin Wheatley, chief executive of the Financial Conduct Authority (FCA), has been ousted by Chancellor George Osborne. News outlets are claiming Mr Wheatley resigned after learning Mr Osborne would not be renewing his contract when it came up for renewal in March next year.

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FCA – “There is nothing to fear from high standards”

FCA - “There is nothing to fear from high standards”

The FCA’s new rules on banking accountability will not be used to hunt the scalps of wrongdoers, emphasising ‘there is nothing to fear from high standards.’

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Has the ‘buy-to-let’ boom created a ticking time bomb?

Has the ‘perfect storm’ of cheap buy-to-let mortgages and eager investors with newly released pension pots created a ticking time bomb for the UK economy? The Bank Of England are sufficiently concerned about the soaring growth in the market that they have asked their staff to look at ways of regulating the sector.

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Energy – the good news and the bad news

British Gas has announced price cuts of 5%, which will save the typical householder £35 a year on their energy bill, on the same day that the National Grid issues a warning of an increased risk of powers cuts this winter. The cut will come into effect on August 27th and will apply to 6.9 […]

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CHARITY OF THE MONTH – Zoe’s Place Baby Hospice

Our charity of the month for June was Zoe’s Place – a specialist baby hospice at Huyton in Liverpool. Nominated by Digital Marketing Manager, Nathan McDonald, Zoe’s Place is designed to be ‘a home away from home’, offering both respite and palliative care to children with life limiting or life threatening illnesses.

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UK interest rate may be on the rise soon

Britain’s base interest rate may soon be on the rise after being held at a record low of 0.5% for six years. Bank Of England Governor, Mark Carney, told the Common’s Treasury Select Committee that the date for a rate rise is  moving closer, given the performance of the economy.

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RBS faces massive $13 billion bill over US securities

Royal Bank Of Scotland (RBS) is facing a massive $13 billion (£8.33 billion) bill to settle claims that it mis-led purchasers of mortgage-backed securities in America. The potential penalty is more than double RBS’s expected profit this year and the American agency involved in the case says it may not be able to pay.  The […]

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PPI compensation breaks the £20 billion barrier

Compensation for one of the UK’s biggest ever mis-selling scandals has just broken the £20 billion barrier. The Financial Conduct Authority (FCA) has confirmed that an additional £390.4 million was paid out for successful PPI claims in May.

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