Financial News
Latest News from Independent Financial Advisor
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Compensation paid for mis-sold PPI reaches £1.9billion
22 February 2012
Lenders paid customers £1.9billion in compensation for mis-sold Payment Protection Insurance (PPI) according to latest figures from the Financial Services Authority (FSA).
PPI policies were sold alongside credit cards, loans and other financial products and were supposed to protect customers should they face loss of income through illness or unemployment. However, thousands of customers were left unaware that they had been sold the policies, or were not eligible to make any claims.
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Insurers must improve customer service to meet expectations says survey
21 February 2012
British consumers believe that insurance providers are trailing other industries in customer service and loyalty rewards according a recent study.
Conducted by Ernst and Young, the study suggests that 84% of life and pensions customers and 88% of non-life customers agreed that insurance providers offer less in the way of rewarding customer loyalty than other service providers in the finance industry.
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Mortgage lending up 10pc on last year says CML
20 February 2012
Year on year gross mortgage lending was up for the sixth month in a row according to latest figures from the Council of Mortgage Lenders.
In spite of a 14% decline in lending compared to December figures, lending totalled £10.5billion, 10% higher than January 2011 when gross lending reached £9.5billion.
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Workers retiring later as life expectancy increases
17 February 2012
Life expectancy is rising, but so too is retirement age says a report from the Office for National Statistics.
According to the latest "Pension trends" data from the ONS we're living longer and healthier lives, with an increasing number of people staying in the workforce for longer.
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Banks must do better for customers warns head of OFT
16 February 2012
Banks must do better for personal account customers or face forced change warned the head of Office of Fair Trading in a speech today.
Fingleton said that increased competition and regulation should drive a more "customer focused" approach from banks by taking steps such as making charging structures and switching bank accounts easier.
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