Author Archive: whatfinance

Our in house editor who has many years financial services experience, and writes most of the journal entries you read on this site.

rss feed Twitter

Defaqto launches new Star Ratings for whole of life policies
By May 2, 2014 Read More →

Defaqto launches new Star Ratings for whole of life policies

Defaqto, an independent researcher of financial products, has launched new Life Assurance Star Ratings for whole of life policies to help advisers and consumers identify where products sit in the market in terms of the overall quality they offer. This further enhances Defaqto’s ratings in the life assurance space, adding to the Star Ratings for […]

Posted in: Life Insurance
1 in 20 say they couldn’t live without borrowing
By April 28, 2014 Read More →

1 in 20 say they couldn’t live without borrowing

Nearly two-thirds of people borrow Just 1 in 10 feel ‘relaxed’ about borrowing Women twice as likely as men to be scared of borrowing Nearly one in 20 people in the UK admit they could not live without borrowing money. New research conducted on behalf of alternative account provider thinkmoney.co.uk reveals that 4.3% of adults […]

Posted in: Borrowing
Organised gangs behind fraudulent claims
By April 27, 2014 Read More →

Organised gangs behind fraudulent claims

Aviva, the UK’s largest insurer, detected over £110 million worth of insurance fraud in 2013 – a 19% increase compared with 2012. Aviva detects over 45 fraudulent claims per day worth more than a total of £300,000.* Aviva’s figures show that insurance fraud is a diverse crime and can range from exaggerating genuine claims or […]

Posted in: Insurance
New Mortgage rules come in to effect
By April 26, 2014 Read More →

New Mortgage rules come in to effect

From today, new rules from the Financial Conduct Authority (FCA) come into force which will put common sense at the heart of the mortgage market and prevent borrowers ending up with a mortgage they cannot afford. The key changes, which are the outcome of the FCA’s mortgage market review (MMR), mean that most people will […]

Posted in: Mortgages
Gocompare.com comments on the FCA’s new mortgage rules
By April 25, 2014 Read More →

Gocompare.com comments on the FCA’s new mortgage rules

New mortgage lending rules, developed by the Financial Conduct Authority (FCA) following its mortgage market review, will take effect from Saturday 26 April, and will see prospective homebuyers and movers facing more scrutiny of their outgoings when applying for a mortgage. Matt Sanders, Gocompare.com’s mortgage spokesman, said: “For some time now lenders have been requiring […]

Posted in: Mortgages
Three million Britons have a second job to boost income
By June 17, 2013 Read More →

Three million Britons have a second job to boost income

Three million (six per cent) Britons have a second job to boost their income One in three (36 per cent) people supplement their primary monthly income, pocketing £2,536 a year each People warned they may not be covered by their existing insurance policy if they are earning money from home to top up their monthly […]

LV=’s top ten whiplash whoppers
By June 17, 2013 Read More →

LV=’s top ten whiplash whoppers

Despite falling accident rates, compensation claims for whiplash and other personal injuries have hit epidemic proportions. British insurers now receive 1,500 claims for whiplash every day and it is estimated that up to 60% of these claims are exaggerated or fraudulent. Research with accident victims reveals that almost a third (29%) of those who have […]

Posted in: Car Insurance
Payday lenders’ failure to treat customers fairly sparks Parliamentary action
By June 17, 2013 Read More →

Payday lenders’ failure to treat customers fairly sparks Parliamentary action

Evidence from Citizens Advice found payday lenders are not keeping to their own promises including checking if people can afford to pay back loans, freezing interest rates and charges for those struggling to repay and not pressuring people into extending loans. Paul Blomfield MP is now introducing a Private Members Bill to protect people from […]

Posted in: Borrowing
British pensioners lose £10.6 billion by living abroad
By June 17, 2013 Read More →

British pensioners lose £10.6 billion by living abroad

Over one million British pensioners live abroad and claim UK state pension Average monthly pension for Brits has dropped by over €145.20 since 2007 Pensioners in South Africa get best return on state pensions Pensioners in Switzerland fair the worst British pensioners living overseas have potentially lost out on over £10.6 billion of their income […]

Posted in: Pensions
LV= cuts rates on its Lifetime Mortgage product
By June 17, 2013 Read More →

LV= cuts rates on its Lifetime Mortgage product

The interest rates across LV=’s lifetime mortgage have been cut by 20 basis points.  For customers up to 80 years old the interest rate is now 5.79% AER, with those between 81 and 85 years old receiving a rate of 5.99% AER. See table below for full list of new rates.   Lifetime mortgage (lump […]

Posted in: Mortgages