Monthly report from surveyors’ body sees ‘firmly negative trend’ that is expected to push up rental prices
The flow of new rental properties coming on to the market has fallen at the fastest rate since the first Covid lockdown five years ago, according to research by Britain’s property surveyors.
Although the demand for properties is steady, there are fewer new rentals from landlords coming available, the Royal Institution of Chartered Surveyors (Rics) found.
Continue reading...Plans have provoked outrage from communities in areas of Great Britain expected to host new infrastructure
The government is pushing head with a plan to offer those who live near new electricity pylons a discount of £2,500 from their energy bills over the next 10 years to ease the backlash against its clean power plans.
Thousands of households within half a kilometre of new or upgraded electricity infrastructure could each receive up to £250 off their annual energy bill from next year to help speed up the rollout of infrastructure critical to the government’s targets.
Continue reading...City regulator says motorists should start to get payments in 2026 with ‘most payouts likely to be under £950’
Explainer: what the supreme court ruling means for UK motorists
Editorial: Mis-sold loans demand action, not excuses or spin
Millions of drivers could be handed a share of a multibillion-pound compensation package after the City regulator said it would open a redress scheme for consumers affected by the car finance scandal.
The Financial Conduct Authority (FCA) will consult on the redress scheme, which could cost banks between £9bn and £18bn when it begins paying consumers compensation next year.
Continue reading...Defending industry over consumers sends ‘really bad message’, says Treasury committee member Bobby Dean
Rachel Reeves’ efforts to intervene in the supreme court case on the car finance scandal were “unprecedented and disgraceful” and send a “really bad message” to consumers that the government is willing to defend wrongdoing by banks, Treasury committee member and Lib Dem MP Bobby Dean has said.
While the supreme court largely sided with finance companies on Friday – helping lenders avoid a £44bn compensation bill – Dean said the chancellor had gone too far to show she was on the side of business.
Continue reading...Defending industry over consumers sends ‘really bad message’, says Treasury committee member Bobby Dean
Rachel Reeves’ efforts to intervene in the supreme court case on the car finance scandal were “unprecedented and disgraceful” and send a “really bad message” to consumers that the government is willing to defend wrongdoing by banks, Treasury committee member and Lib Dem MP Bobby Dean has said.
While the supreme court largely sided with finance companies on Friday – helping lenders avoid a £44bn compensation bill – Dean said the chancellor had gone too far to show she was on the side of business.
Continue reading...City watchdog publishes details of its plans to regulate the BNPL market, which has now grown to £13bn
Lenders may have to carry out affordability checks on even the smallest buy now, pay later loans under new rules drawn up by the City watchdog.
The Financial Conduct Authority (FCA)on Friday published details of its plan to regulate the £13bn buy now, pay later (BNPL) market.
Continue reading...Preschool establishment asked for extra compulsory fee for ‘consumables’ – but it should have been free
A nursery has refunded a father almost £1,200 after an investigation found he had been charged mandatory “top-up” fees for hours of childcare that should have been free.
Tiago Gomes’s daughter was eligible for government-funded childcare at the Lake House day nursery and preschool in Bristol but he was told that he must pay an extra compulsory fee for “consumables”.
Continue reading...Watchdog releases nine new rulings setting clear precedents for online selling
Online pharmacies are no longer allowed to run adverts for weight loss injections, the advertising watchdog has ruled, as part of a crackdown on what has been described as a “wild west” culture of online selling.
In the UK, advertising prescription-only medications (POMs) – which includes all weight loss jabs such as Wegovy and Mounjaro – to the public is illegal. However, a Guardian investigation previously found some online pharmacies either breaking these rules outright, or exploiting grey areas to peddle the medications to the public.
Continue reading...Committee says products may not be best use of public money and may have been mis-sold to people on certain benefits
Lifetime Isas could lead to savers making poor investment decisions and may not be the best use of public money, a cross-party committee of MPs has said.
In a report published on Monday, the Treasury select committee described rules which penalise benefit claimants as “nonsensical” and concluded that lifetime Isas, known as Lisas, may have been mis-sold to savers eligible for universal credit or housing benefit.
Continue reading...Digital bank hopes to tempt switchers with package including in-credit interest and fee-free travel spending
The battle for bank customers intensified this week, with a new player entering the UK current account market and offering cashback on bills and access to a savings account paying 7.1%.
Digital bank Zopa is hoping the perks – which also include in-credit interest and fee-free spending abroad – will tempt switchers to its first day-to-day account.
Continue reading...RTS meters in 300,000 homes to be phased out rather than turned off on 30 June deadline
As the temperature climbed towards 30C the peril of turning off a system that could leave people with their heating stuck on full must have looked like an avoidable disaster.
On Thursday ministers confirmed the “widespread switch-off” of the Radio Teleswitch Service (RTS), which controls an old type of electricity meter, “will not happen” on 30 June.
Continue reading...Budget retailer had a pre-tax loss of more than £51m last year and is struggling to lure back customers amid stiff competition from rivals
“It’s not actually that cheap any more. It’s kind of lost its appeal because everything is not a pound.”
Samantha, a shopper outside Poundland’s Luton retail park outlet who is heading off to B&M to find some better deals, sums up the feelings of many of her fellow bargain hunters and a central problem facing the new owner of the budget retailer.
Continue reading...Source confirms decision that will help meet net zero targets and pledge to cut energy bills by £300
Ministers have decided not to cut Labour’s landmark £13.2bn fund to fix draughty homes and install heat pumps and solar panels in next week’s spending review, it has emerged.
A government source confirmed Rachel Reeves, the chancellor, would not be making cuts to the flagship warm homes plan. The decision, which was first reported by the Daily Telegraph, marks a victory for Ed Miliband in his negotiations with the Treasury over the Department for Energy Security and Net Zero’s budget.
Continue reading...Consumer watchdogs accuse Chinese fashion firm of ‘dark’ practices in formal complaint to European Commission
Consumer watchdogs from 21 countries have filed a formal complaint to EU authorities about alleged “dark” practices by the Chinese fast fashion firm Shein including the “shaming” of customers into buying more than they can afford.
The European Consumer Organisation (BEUC) has submitted a 29-page dossier to the European Commission citing multiple examples of “dark patterns”, or deceptive techniques designed to encourage purchases.
Continue reading...MPs on Treasury committee hear that those affected were being contacted and would face ‘no financial loss’
HM Revenue & Customs has lost £47m after a phishing scam breached tens of thousands of tax accounts, a group of MPs has heard.
Two senior civil servants at the tax authority told the Treasury committee that 100,000 people had been contacted, or were in the process of being contacted, after their accounts were locked down in what the officials said was an “organised crime” incident that began last year.
Continue reading...Consumer group Which? says owners are put off complaining and system for doing so is not fit for purpose
Britain’s pet owners often face an uphill struggle when they are unhappy with their vet because the industry’s complaints system is not fit for purpose, according to a leading consumer body.
The findings from Which? that the complaints process “is often stacked against pet owners” come as the UK competition watchdog is investigating the veterinary sector amid concerns that above-inflation price hikes and other issues mean consumers are not getting a fair deal.
Continue reading...Banks say every day 7,000 incidents take place where scammers get people to disclose unique set of numbers
Banks are reporting a surge in a type of fraud where customers are tricked into disclosing online login passcodes they are sent, which has helped to fuel a 22% jump in crimes where scammers go shopping using people’s stolen details.
The banking body UK Finance revealed that “remote purchase” fraud hit its highest-ever level in 2024, with almost 2.6m cases logged, which works out at more than 7,000 incidents a day, or almost five a minute.
Continue reading...T&Cs show limitations to the promises of 12 free seat reservations, insurance and monthly access to a sale
Ryanair has become the latest low-cost airline to offer a yearly membership scheme that promises benefits such as free reserved seats and cheap flights – but the consumer group Which? says you should look at the small print before you join.
The low-cost carrier’s Prime membership costs £79 a person a year and promises 12 free seat reservations, travel insurance, and monthly access to a sale. However, the terms and conditions show a number of limitations.
Continue reading...City comptroller Brad Lander, also a mayoral candidate, calls for state and local action to take up oversight work of Consumer Financial Protection Bureau
New York City’s financial watchdog is raising the alarm about the Trump administration’s cull of a key federal agency that oversees consumer financial protection laws, warning it will usher in an “open season” for fraudsters.
Brad Lander, New York City’s comptroller and a candidate for the city’s mayoral race, said the uprooting of the Consumer Financial Protection Bureau (CFPB) will leave many Americans vulnerable to scams and predatory lending as the federal agency’s oversight and regulatory powers have been significantly diminished. Lander is calling on state and local governments to make up for the gap in oversight.
Continue reading...Marks & Spencer has halted orders on its website and apps, giving customers a refund for those placed after Wednesday
The cyber-attack at Marks & Spencer is continuing to cause chaos for shoppers, with no clarity yet as to when the retailer’s systems will be fully back up and running.
Website orders remain on hold for the fourth day in a row, and those affected also include customers waiting to collect orders or wanting to spend or buy M&S gift cards, as well as users of the retailer’s Sparks customer reward scheme.
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