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.
Financial mis-selling is on the rise. However, for some it remains unclear what constitutes financial mis-selling and what you should do if you believe you have indeed been mis-sold to.
The recent collapse of the SIPPS arm of pension provider Berkeley Burke has highlighted the issues faced by many consumers who continue to receive bad advice on their personal investments.
According to figures released by the Financial Services Compensation Scheme (FSCS), compensation pay outs to savers badly advised to transfer money away from defined benefit (DB) pensions have doubled over the past two years.
The Financial Conduct Authority (FCA) recently announced plans to ban the marketing of mini-bonds to casual investors – a ban which is set to come into action from the 1st January 2020. The decision comes after the FCA were criticised for their handling of the London Capital & Finance scandal, which happened at the start of 2019.
Personal Contract Purchase (PCP) schemes are a useful way to get the vehicle you want, without spending out a huge lump sum. Thousands of people across the UK have used a PCP as a loan to pay off the cost of their car, but unfortunately, there’s a catch. While some of these schemes are solid, others were poorly sold – with customers signing up, without being told about the financial risks.
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After sending a report to Santander, they agreed with our findings and awarded Mr Snowden an amount of £7,000 made up from a refund of the losses together with interest and compensation.
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I am so grateful to your company but especially to Steve Wise for getting me the money back
We reported our findings to Halifax and within a matter of weeks had secured our client the sum of £26,700 in compensation.
After we sent a detailed complaint to Halifax, Fred was delighted to receive £6,916 from the bank in a matter of weeks.
Having investigated the complaint Lloyds TSB agreed that the advice was unsuitable and agreed to pay the clients £10,000.