Confused.com News

Common sense at last - Confused.com comments on the new rights for credit card customers, announced today.

Mon, 15 Mar 2010 16:51:29 GMT

Joanne Garcia, Head of Credit Cards at Confused.com says "It's great to see credit card providers agreeing to treat their customers more fairly and encourage them to be more in control of their finances. However, customers may end up paying in the long run as the cost of these changes are likely to see another nail in the 0% balance transfer card coffin.

"Consumers need to be more responsible as well" Garcia adds. "No one should borrow money on a credit card if they know they can't afford to pay it off. If they can't repay the whole amount each month, they should try to pay off at least a small amount more than the minimum payment in order to help clear their balance as soon as possible.

"Paying back an extra �10 per month could help pay off a debt of �1,000 on a 14% APR credit card in just over five years, rather than 19 years if simply the minimum 2% is paid off - and this could save over �750 in interest.¹"

¹ figures from www.whatsthecost.com

� Confused.com 2010 - News Letters

Refresher Course For Rusty Drivers

Wed, 17 Mar 2010 14:36:17 GMT

A refresher driving course would benefit nearly half of motorists, a survey has found.

The AA/Populus poll of 12,231 AA members identified the group who would gain the most from such a course as being drivers who have been off the road for a long time, and whose driving skills may have gone rusty.

As many as 16% of motorists had stopped driving for three years or longer, an earlier AA survey showed.

Some of these believed they had been away from the wheel for so long they were not sure they could remember how to drive, the survey revealed.

The latest figures came as the AA Charitable Trust launched Drive Confident, a new programme of free refresher courses for lapsed or rusty drivers delivered through AA Driving School.

Motorists are warned that if they have had a break from driving for a while, they should remember to renew their car insurance before getting back behind the wheel. Driving without insurance is against the law, but that isn't enough to stop at least one million people in the UK from failing to insure their motor vehicle.

� Confused.com 2010 - Car Insurance

Cash ISAs: Our top transfers

Wed, 17 Mar 2010 13:07:54 GMT

By Stephen Jones

The ISA deadline is almost upon us, which means you may well be looking for the best paying ISAs over the next tax year. To help you towards becoming a savings guru, we've put together a guide to the top Cash ISAs currently allowing transfers. So, if your money is languishing in a poorly performing ISA, you may well want to consider switching your money to one of these beauties...

Top 5 Cash ISAs for Transfers

Name	AER	Term/Notice	Minimum investment	Interest Paid	Additional Info
*Clydesdale Bank*	5.00% Fixed	31 March 2015	�2,000	On Maturity	Transfer out penalty 180 day loss (min. �30)
*Yorkshire Bank*	5.00% Fixed	31 March 2015	�2,000	On Maturity	Transfer out penalty 180 day loss (min. �30)
*Leeds Building Society*	4.60% Fixed	31 May 2015	�1	Yearly	Transfer out penalty 180 day loss
Nationwide Building Society (online only)	2.75% Variable	No Notice	�1	Yearly	Includes 1.00% bonus until 30 June 2011; Card Account Holders Only
*Newcastle Building Society*	3.00% Variable	120 Day Notice	�500	Yearly	Includes 1.00% for first 12 months

Decisions, Decisions

As you can see, there's a little bit of everything here, so there's bound to be something to suit you, however much you're prepared to put away.

For pure returns, it's hard to look beyond Clydsedale and Yorkshire Banks' offering - a fixed-rate bond at 5%. But with a five year lock-in period and a minimum investment of �2,000, this is best designed for those who are confident that they won't need to touch their money for some while. Close behind is Leeds Building Society's fixed rate ISA - which offers only a slightly lower return of 4.60% over the same term, but needs a deposit of just �1 to open.

Beyond that, the best ISA around no-notice period is the Nationwide e-ISA. Paying a variable rate of 2.75% yearly on anything above �1, and with the opportunity for instant withdrawals for no penalty, it's a great option for the more casual saver - but be warned, you'll have to have a Nationwide card account already to get one.

If there's a chance you might need to access your money before your term period is up (and remember, your ISA is really the very last place you should withdraw from!), the best all-round Cash ISA for you is most likely the Reward Saver ISA from Newcastle Building Society. It offers 3.00% in the first year and needs a not-unreasonable �500 to open; plus you can withdraw money at no penalty with 120 days notice.

So there are our top picks, well worth a consideration if you want to make your money work for you. But remember; if you don't know already, make sure you check with your current ISA provider if there are any charges attached to switching.

� Confused.com 2010 - Savings Accounts

71% Support Lower Drink-Drive Limit

Wed, 17 Mar 2010 14:24:44 GMT

More than two-thirds of motorists support moves to lower the legal drink-drive limit, a survey has revealed.

As many as 71% of drivers polled agreed the current drink-drive limit of 80mg of alcohol per 100ml of blood, or 35 micrograms of alcohol in 100ml of breath, should be cut. More than half (55%) said the limit should be 20mg or lower, while 16% favoured a 50mg limit - the figure in operation in a number of EU countries.

Meanwhile, 92% of the 800 drivers surveyed by road safety charity Brake would like to see a new anti drug-drive law introduced similar to that used for drink-driving.

Brake deputy chief executive Cathy Keeler said: "It's time for bold action by policymakers to demonstrate they are listening to public concerns on drink and drug-driving."

She went on: "We desperately need a solid legal foundation for the clear messages of the Government's THINK! road safety campaign: don't drink any amount of alcohol and drive; don't take any impairing drugs (whether legal or illegal) and drive. The message is: Not a Drop, Not a Drag."

As well as a fine and a minimum disqualification period of 12 months for drink driving, many people overlook the extra expense they will face when trying to get car insurance following a conviction. Car insurance premiums are commonly doubled if someone has been banned for drink driving and the conviction will stay on record for 11 years.

The results from the Brake survey come ahead of a soon-to-be-published, Whitehall-commissioned report on drink-diving and drug-driving.

� Confused.com 2010 - Car Insurance

New Rules Set To Stop Mis-Selling

Wed, 17 Mar 2010 14:29:47 GMT

Strict penalties are to be introduced for telecoms companies that mis-sell services, it has been revealed.

Companies that breach the latest rules to be introduced by the communications regulator Ofcom could face fines of up to 10% of their turnover.

The rules, which come into force on Thursday, are designed to give better protection to the consumer.

They will also allow for swift action to be taken against companies that break them.

The action is being taken to prevent landline providers being dishonest with customers, and stop actions such as "slamming", where people are switched without their knowledge from one company to the next.

Ofcom chief executive Ed Richards said: "It is not acceptable for consumers to suffer from companies engaging in dishonest sales and marketing activities. Ofcom will not hesitate to take enforcement action against firms who don't comply with the new rules."

The regulator said it receives about 750 complaints a month relating to mis-selling and slamming.

Consumers complain about calls from providers pretending to be another company, providers quoting incorrect package costs and poor information about minimum contract periods and early termination charges.

Ofcom has previously investigated 14 companies for breaching regulations and fined two providers 10% of their turnover for failing to comply.

� Confused.com 2010 - Energy

Beckham 'More Boring' Than Country

Wed, 17 Mar 2010 09:50:03 GMT

Hoping to qualify for a No Claims Bonus on your car insurance? Then, if the results of a new poll are anything to go by, it might be a good idea to avoid the countryside, with motorists voting it far more distracting than giant billboards of David Beckham in his underpants or even the famous Wonderbra series of advertisements.

The Zurich Connect-sponsored survey found that people thought Beckham was just slightly more distracting than roadside graffiti and nowhere near as interesting as shop window displays.

Two-thirds of male drivers named the opposite sex as the greatest distraction, while just 3% of women said their attention was easily grabbed by a handsome man.

A Zurich Connect Spokesman said: "Surprisingly, the Yorkshire Dales beat David Beckham's pants hands down as roadside eye candy.

"We can only conclude that drivers passing through stunning landscapes need to be especially vigilant if they want to avoid becoming part of the scenery."

The top 10 most distracting things on the roads were, from most to least: attractive women; Stonehenge (and other heritage sites); the Yorkshire Dales (and other scenic views); flocks of birds; the Angel of the North (and other art installations); Ferraris and other supercars; shop window displays; attractive men; the David Beckham advert for Armani; and roadside graffiti.

� Confused.com 2010 - Car Insurance

Compulsory Dog Insurance Plan Axed

Wed, 17 Mar 2010 09:54:57 GMT

The Government has dropped controversial plans for compulsory third party pet insurance for dogs, barely a week after they were published.

The proposals would have forced more than five million dog owners to buy third party pet insurance against the risk of their animal attacking someone.

They were launched last week by Environment Secretary Hilary Benn and Home Secretary Alan Johnson, but Mr Benn has now said he can "rule out" compulsory insurance for all dogs.

The plans were a response to a growing problem of dogs being used as weapons on inner city estates and would have also included changes to the Dangerous Dogs Act.

But they provoked an angry response from critics who said the measures would hit law-abiding owners whose dogs did not cause any damage.

In a statement, Mr Benn said he didn't want to penalise "responsible dog owners".

Instead, he said only dogs causing trouble could face being targeted with an insurance requirement as part of a control order or "Dogbo".

Association of British Insurers director of general insurance and health Nick Starling said: "We are pleased that the Government has dropped the unworkable proposal.

"Compulsory insurance is always difficult to enforce. The very people that the Government is targeting - those who mistreat their dogs or use them as weapons - are the same people who would not buy cover if it was available."

� Confused.com 2010 - Home Insurance

Offer Overdraft Opt-Out, Banks Told

Tue, 16 Mar 2010 15:30:14 GMT

Bank customers should be offered the choice to opt out of having overdraft facilities on their current accounts, the Office of Fair Trading (OFT) has argued.

The consumer watchdog also called for more choice when it comes to charging systems.

The calls came as the OFT set out its recommendations on the future of bank charges, also calling for improvements on charges for unarranged overdrafts on current accounts.

It admitted that charges have already started to come down - with bounced charges, levied when a bank refuses to make a payment, falling from an average of �34 in 2007 to around �17.

And customers who go into an unauthorised overdraft have seen the average penalties ease back from �30 per transaction in 2007 to around �22, according to the OFT.

The latest report follows the OFT's surprise defeat in the Supreme Court over previously charged overdraft fees.

John Fingleton, chief executive of the OFT, said: "We believe that the commitments agreed by the industry today, along with changes by individual banks already made or expected in the next two years, should lead to a market that works better for consumers."

Banks have committed to developing minimum standards when offering customers the ability to opt out of unarranged overdraft facilities, while they will introduce best practices for customers in financial difficulty who incur unarranged overdraft charges.

� Confused.com 2010 - Current Accounts

73% 'Would Report Elderly Drivers'

Tue, 16 Mar 2010 09:15:50 GMT

Nearly three-quarters (73%) of people would inform the authorities if they were concerned about driving standards of elderly friends or relatives they know, according to a latest survey.

The Institute of Advanced Motorists' (IAM) survey also revealed that almost seven in 10 back the idea of re-testing motorists older than 70.

However, the survey of 1,628 people, including some IAM members, showed that 77% believed young motorists posed more risk to road safety than older drivers.

Neil Greig, IAM director of policy and research, said: "It is good news that most drivers are aware that young drivers are the demographic most in need of help, but worrying that the mandatory retest has a fairly high level of support."

He further said: "The IAM believes we need to reassure the public that older drivers do not represent a disproportionate risk.

"A total of 8% of drivers are over 70 and they are involved in around 4% of injury crashes. But, 15% of drivers are in their teens and 20s and they are involved in 34% of injury crashes."

"Mr Greig said that asking motorists above 70 to take driving test again "would be a mammoth administrative task with little road safety benefit".

� Confused.com 2010 - Car Insurance

Smart Meters May Save �100 On Bills

Tue, 16 Mar 2010 09:22:57 GMT

Household bills can be reduced by just over �100 a year if people install "smart meters", the results of a pilot study have suggested.

A total of 454 homes were fitted with the dual-fuel meters, which give information about energy use in real time, in a trial by Kettering Borough Council and energy supplier E.ON. Monitors were also fitted to give householders data on how much energy they were using, the amount of carbon being emitted and the cost of the gas and electricity.

Those participating in the pilot said they cut the amount of energy consumed by an average of 9%, the equivalent of �109-worth of electricity or gas every year. The council took up to �100 off each participant's council tax as an incentive for them to take part.

Out of all the households, the yearly energy bill of 365 homes were reduced. One family had also installed cavity-wall insulation and double glazing, and their energy use was cut by 22% over a year, saving them �242.

Michael George, whose family began the pilot in November 2008, said: "I think the smart meter has helped us realise just how wasteful we were being with our energy. We still do all the things we did before but we just make a conscious effort to turn things off when we've finished with them."

The government has claimed it will ensure all homes will have smart meters by 2020.

� Confused.com 2010 - Energy

Skiers Stereotyped By Nationality

Tue, 16 Mar 2010 15:41:08 GMT

Skiers from Germany have no awareness of those around them on the slopes and skiers from Italy tend to ski and board too fast, according to a travel insurance company's survey.

InsureandGo made the claims after carrying out a new poll which also said skiers from Britain apparently have a habit of showing off on-piste, skiers from France exaggerate their ability and skiers from Spain are not trained well enough.

The survey also said most accidents on ski slopes take place in late afternoon and just after lunchtime.

According to InsureandGo, skiers pushing themselves too hard and exceeding their technical abilities is the main reason why accidents happen on the slopes. The survey concluded that this is because skiers are jealous of other people's skill.

� Confused.com 2010 - Travel Insurance

Police Tackle Bad Driving Habits

Tue, 16 Mar 2010 15:33:56 GMT

Police officers who were out on a campaign to educate drivers stopped a motorist who was driving with her bonnet wide open.

Officers from Dorset Police were working on the No Excuse campaign to tackle bad driving habits and cut accidents when they spotted the 53-year-old woman peering through the narrow gap. She was driving to a garage to have her faulty bonnet fixed.

During the day of action a total of 30 offences which could have caused serious collisions were recorded.

One driver was caught steering with his elbows while he rolled a cigarette, another driver was reading from a clipboard across the steering wheel and six drivers were using mobile phones.

One man driving a Ferrari was stopped after he overtook police in an unmarked car at 80mph in a 50mph zone near Slepe.

Another driver was caught using both hands to peel a banana.

Car owners must have at least a minimum level of car insurance - third party cover. That means that in the event of an accident, the insurance company will cover the costs and damages of any other parties involved in the crash.

� Confused.com 2010 - Car Insurance

Average House Price Rises By 0.1%

Mon, 15 Mar 2010 13:53:17 GMT

As large numbers of sellers returned to the property market, the average house price rose by just �216 in March.

The 0.1% monthly increase was the lowest ever recorded for the month, according to housing website Rightmove, and compared with an average jump of 1.3% for the period during the previous eight years.

The number of properties on the market stood at its highest level for a year and a half, and rose by 17.5% compared with the previous month. This was a 34% rise compared with the same period of 2009.

Rightmove said the steep increase in competition among sellers had given people less opportunity to increase their asking prices.

The rise in sellers, which is in line with figures recently reported by the Royal Institution of Chartered Surveyors, is likely to reduce the current upward pressure on house prices.

The mismatch between supply and demand has been a key factor in supporting the house price recovery, but many economists expect prices to resume their downward trend as more homes are put up for sale.

However, Rightmove pointed out that the virtual standstill in asking prices during the four weeks to March 6 followed a steep rise of 3.2% during the previous month.

� Confused.com 2010 - Mortgages

Savers 'Confused Over ISA Rules'

Mon, 15 Mar 2010 09:53:51 GMT

The majority of savers are confused about the rules surrounding tax-free ISA accounts, a survey has revealed.

Lloyds TSB found only one in 10 know what the current ISA allowance is, while even less (9%) were aware of what it would increase to at the beginning of the new tax year.

Most people (86%) knew that an ISA was a savings account, but only half realised the abbreviation stood for Individual Savings Account, while just over a fifth thought it meant Instant Savings Account.

With tax not being deducted from earned interest, two thirds of the 1,006 people questioned agreed ISAs were a good way to put money aside.

However, 7% did not know there was a yearly cap on the amount that can be saved in an ISA and four out of 10 did not realise any unused annual allowance cannot be carried over after April 6.

People can currently save up to �7,200 each year into an ISA, up to �3,600 of which can be paid into a cash ISA.

This limit was raised to �10,200 a year, of which �5,100 can be held in cash, for the over 50s in October. The higher limit will apply to every saver from April.

� Confused.com 2010 - Savings Accounts

Insurers Issue BA Strikes Guidance

Mon, 15 Mar 2010 09:49:59 GMT

In light of the seven days of strikes announced by BA workers - three days beginning on 20 March and four on 27 March - the Association of British Insurers (ABI) has published guidance for the airline's customers whose plans are likely to be disrupted.

The airline is responsible for flight arrangements, so customers should be contacting BA to find out their options. Travel insurance policies explain what is covered and what is not, but customers have been urged to consult the insurance company to clarify any points if necessary.

Some people may find they are already covered if their flights are delayed, and if policies were taken out before the strikes were announced. If plans need to be cancelled because of delays, then some insurers may pay out, but only a fixed amount.

Any policies agreed after the day the strikes were announced will not cover customers against any delays or subsequent abandonment because the strikes were known about when the policy was taken out.

Cover varies for flight cancellations. Some insure against particular things, such as illness or redundancy, but not necessarily against industrial action, although some companies may allow customers to insure against strikes.

Nick Starling, ABI director, said: "Customers should check their travel insurance policy and speak to their travel insurer if they need to clarify the extent of any cover."

� Confused.com 2010 - Travel Insurance

Drivers 'Do Not Know Age Of Cars'

Mon, 15 Mar 2010 09:56:55 GMT

More than a quarter of drivers in the UK do not know how old their vehicle is, according to a new survey.

The poll carried out by Auto Trader showed that 26% were unable to identify the month or year in which their car was registered.

The research also showed that one in 10 drivers admitted to not being able to tell how old their vehicle is by its number plate.

The cost of used cars depreciates with every month and year off the forecourt, and the company warned drivers may be paying over the odds because they can not tell the age of the car they are buying.

Around one in 10 drivers (12%) believe new cars are released in January, rather than March and September.

Matt Thompson, marketing director at Auto Trader, said the results of the survey showed that British drivers "don't understand the numberplate system".

He said: "Our advice is always to check out our expert guide on our website and do your research before buying a new vehicle, so that you know exactly what you are buying."

� Confused.com 2010 - Car Insurance

Car owners consider late scrappage drive

Mon, 15 Mar 2010 13:33:32 GMT

By Lauren Dinally

One in five owners of a car over ten years old has said they are thinking about scrapping their ageing motor and buying a new one through the government's scrappage scheme.

That's according to research from AA Financial Services. However, if motorists are planning to take advantage of the scheme, their time is running out - it is due to end on 31 March, and there are now fewer than 24,000 scrappage registrations remaining.

A survey from the group found that, while only 4 per cent of respondents said they were taking advantage of the scheme, over a fifth (22%) said that they were thinking about using it.

Mark Huggins, director of AA Financial Services, said: "Although there's not much time left, now is a perfect time to trade in your old car.

"Under the 'bangers for cash' scheme it's worth �2,000 - but when the scheme ends, which could be before the end of the month, its value will simply be what you can barter on the forecourt and the chances are it could up at the breaker's yard in exchange for just a few pounds."

� Confused.com 2010 - Car Insurance

Are estate agents piling on the pressure?

Mon, 15 Mar 2010 10:44:09 GMT

By Sharon Flaherty, Confused.com editor

It's been an interesting two weeks to say the least and if you read my last blog you'll know I recently made an offer on a house. When it came to arranging the mortgage though, I came up against a few hurdles.

I was already using my own independent financial adviser mortgage advice and obviously the estate agent has its own mortgage adviser in-house and wanted me to use its service. Just for a comparison, I met with their in-house bloke, but I did feel slightly pressured to use the estate agent's adviser instead of my own.

Why? Well basically, I was told that if I arrange the mortgage through the estate agent's mortgage adviser, the property would then be taken of the market straight away and there was a higher chance of the sale going through because they are handing the whole transaction and therefore can make sure it all goes smoothly.

Obviously I, like any other buyer, want the sale to go through so I felt my emotions were being played with a bit and throwing this suggestion out there simply isn't fair.

To read the rest of the property jungle blog click here and tell us about your experiences.

� Confused.com 2010 - Mortgages

More Residents Move Over Neighbours

Mon, 15 Mar 2010 13:48:18 GMT

Nightmare neighbours forced more than 360,000 people to relocate last year, according to a new study.

The survey of 2,000 adults by Halifax Home Insurance found the number of homeowners who put up the 'for sale' sign as a result of irritating neighbours has jumped by a third since 2008.

Aggressive behaviour, loud noise, messy gardens and houses and even stealing were among the most common complaints.

Martyn Foulds, senior claims manager at Halifax Home Insurance, said: "Having a good neighbour is one of the most rewarding things a homeowner can experience - not only will they keep an eye on your property when you're away, but they may also become a close friend."

� Confused.com 2010 - Mortgages

Stamp Duty End Hits Lending Rate

Fri, 12 Mar 2010 14:08:29 GMT

Mortgage lending dived by 49% following the end of the Government's stamp duty holiday, figures have revealed.

The Council of Mortgage Lenders said just 32,000 loans worth a total of �4.7 billion had been approved during January - a figure down significantly on December's figure and one that "emphatically demonstrated" the impact of the holiday's end.

There was worse news for first-time buyers, for whom the lending rate dropped by 54% to just 11,300 approvals.

The CML said the steep drop reflected the fact that a high proportion of first-time buyers bought properties priced between �125,000 and �175,000, and had rushed through purchases in December before the stamp duty threshold fell back to �125,000.

The group had reported a 63% jump in the number of first-time buyers purchasing homes in this range in December, but transactions in this band dived by 80% in January.

� Confused.com 2010 - Mortgages

Confused.com News

Common sense at last - Confused.com comments on the new rights for credit card customers, announced today.

Refresher Course For Rusty Drivers

Cash ISAs: Our top transfers

Top 5 Cash ISAs for Transfers

Top 5 Cash ISAs for Transfers

Clydesdale Bank

Clydesdale Bank

5.00% Fixed

31 March 2015

�2,000

On Maturity

Transfer out penalty 180 day loss (min. �30)

Yorkshire Bank

Yorkshire Bank

5.00% Fixed

5.00% Fixed

31 March 2015

�2,000

On Maturity

Transfer out penalty 180 day loss (min. �30)

Leeds Building Society

Leeds Building Society

4.60% Fixed

4.60% Fixed

31 May 2015

�1

Yearly

Transfer out penalty 180 day loss

Nationwide Building Society (online only)

Nationwide Building Society

2.75% Variable

2.75% Variable

No Notice

�1

Yearly

Includes 1.00% bonus until 30 June 2011; Card Account Holders Only

Newcastle Building Society

Newcastle Building Society

3.00% Variable

3.00% Variable

120 Day Notice

�500

Yearly

Includes 1.00% for first 12 months

Decisions, Decisions

71% Support Lower Drink-Drive Limit

New Rules Set To Stop Mis-Selling

Beckham 'More Boring' Than Country

Compulsory Dog Insurance Plan Axed

Offer Overdraft Opt-Out, Banks Told

73% 'Would Report Elderly Drivers'

Smart Meters May Save �100 On Bills

Skiers Stereotyped By Nationality

Police Tackle Bad Driving Habits

Average House Price Rises By 0.1%

Savers 'Confused Over ISA Rules'

Insurers Issue BA Strikes Guidance

Drivers 'Do Not Know Age Of Cars'

Car owners consider late scrappage drive

Are estate agents piling on the pressure?

More Residents Move Over Neighbours

Stamp Duty End Hits Lending Rate

Nationwide Building Society
(online only)