The SIPPs mis-selling scandal has been going on for years now, with increasing numbers of customers making claims against the firms they invested with.
At present, well over a hundred companies are being investigated by the FCA for ‘phoenixing’. But what exactly is phoenixing, and why is it so problematic?
Around 90% of all new car deals are made using a PCP – a personal contract purchase. In theory, it’s a convenient way to buy a vehicle, as you don’t have to pay a large amount of money upfront.
A PCP (personal contract purchase) is a convenient way to purchase your next car. Rather than paying a lump sum upfront, you’ll be able to spread the cost over three to five years; then keep the vehicle at the end of the contract if you wish.
The COVID-19 pandemic has caused widescale chaos across the UK. In addition to the health concerns, many are also worried about the economy, and how long it will take to recover in the aftermath of the lockdown.
Car hire purchase (HP) agreements are one of the most popular ways to buy a new car. It’s a finance agreement rather than a lease, and once the contract has ended, you’ll have the option to purchase the vehicle.
A personal contract purchase (PCP) seems like a great option on paper. It’s a convenient way to get the latest model of car, without spending a fortune. However, like many loans, its not without its problems.
Coronavirus is causing significant disruption across the globe – and not just with regards to health. The virus is also impacting on the world’s financial markets, which in turn, is adversely affecting personal investments.
Car lease deals and PCPs look set to be the next big mis-selling scandal. The recent investigation launched against car retailer Lookers confirms this, with their sales processes currently being scrutinised by the FCA.
Growing concerns about the rise in bad pension transfer advice has led to increased pressure being placed on the Financial Conduct Authority (FCA) to take action.
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