The 100,000 homeowners with unfair leasehold deals will feel disappointed by the Government "backtracking" on its plans to tackle the issue, experts have said. Over the last 10 years housebuilders have increased their profits by selling the freehold ownership of properties to third-party investors attracted by the income from the guaranteed yearly ground rent. There are more than four million leasehold properties in England, of which 100,000 are considered to be "unfair", according to Nationwide. This could mean, in the worst cases, that the ground rent charged by the freeholder to the leaseholder doubles every 10 years. On Sunday the Government announced a consultation on proposals that include selling most new homes on a freehold basis, making it easier for leaseholders to buy their freeholds and capping ground rents on new leases at £10 a year. However, the plans will be little comfort to those who already own homes sold with … [Read more...] about Homeowners let down by Government ‘backtrack’ on leasehold ban
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£1 a minute: the huge fines parents face if they are late picking up their kids
Over the past 12 months parents have been walloped with fines worth an incredible £151million as a result of picking their kids up late from nursery, school and childminding services. That’s according to a new study from Direct Line , which found that parents typically picked their children up late on three occasions over the year, which would have led to a total of £25.10 in fines. However, the study found that more than 250,000 punctuality-challenged parents have been fined more than £100, while one in 20 have been late on at least 26 occasions. The punctuality postcode lottery There is a real postcode lottery at play when it comes to how lateness is handled by nurseries and the like. Some will charge a flat fee, though this can vary sharply in size. Direct Line found examples of childminders charging a massive £50 flat fee for late collections - a seriously punishing figure. Other childcare providers determine the fine based on precisely how late you are, … [Read more...] about £1 a minute: the huge fines parents face if they are late picking up their kids
Aldi and Lidl and one other
The UK's biggest supermarkets lost market share to rivals Aldi and Lidl over the three months to October as the arrival of cooler weather marked the end of a bumper summer for grocers, figures show. Tesco, Sainsbury's and Asda all lost market share over the 12 weeks to October 7, with Tesco dropping 0.6 percentage points to 27.4% despite sales rising by 0.9% and widespread interest in its new discount arm Jack's, according to analysts Kantar Worldpanel. Sainsbury's was down 0.4 points compared with last year at 15.4% and Asda dropped 0.2 points as Aldi and Lidl increased sales by 15.1% and 10% respectively. Aldi's growth was its fastest since January last year and helped it to a market share gain of 0.8 points to 7.6%, while Lidl attracted 5% more shoppers through its doors compared with the same period last year and persuaded them to spend an extra 55p per trip, leading to market share of 5.6%. Co-op was the only other bricks and mortar retailer to gain market share with sales up 7%. … [Read more...] about Aldi and Lidl and one other
Investors wronged by a financial firm could now get double the compensation
Pensioners and investors left worse off by the sharp practices of professionals trusted with their money can expect to see a significant jump in their financial protection. City watchdog the Financial Conduct Authority (FCA) plans to increase the compensation limit for consumers where a financial company has cost them their savings. Complaints should go to the Financial Ombudsman Service (Fos), which has the power to decide your case and award compensation with the aim of putting you back in the situation you would have been had you not been wronged. Currently the Fos can only award up to £150,000, often much less than many pensioners and investors have lost. Fos can tell the offending company to pay more than its limit, but can not force it to do so. Today the FCA has proposed more than doubling this limit to £350,000. Consumers who make a successful claim with the Fos about problems occurring on or after 1 April 2019 would be compensated up to the new limit. For … [Read more...] about Investors wronged by a financial firm could now get double the compensation
Boots has just announced some very exciting news for parents
The first few weeks with a newborn baby can be incredibly scary - and that's before we look at our bank accounts. So to help make life a little bit easier for parents, high street store Boots has just announced a huge discount event on its baby and toddler products. We've spotted a fair few big brands amongst the discounts, such as buy one get one free and 50% off on brands including Tommee Tippee, Pampers and Aveeno. The offers are available both online on the Boots website and in stores across the country, lasting all the way up until Novembver 6 or while stocks last. We've picked out some of our favourite products from the Boots baby sale below, for any parents keen to pick up a bargain before the Christmas spending starts kicking in. Boots' huge baby sale comes at the same time as plenty of other stores such as Very and Tesco have slashed the price of their toys in huge discount events. Tommee Tippee Closer to Nature 6 pack bottles, £16.99 (was £33.99) Half price … [Read more...] about Boots has just announced some very exciting news for parents