UK

The French-owned energy giant, EDF, has kicked off proceedings by announcing an 8.4% electricity price hike which will take effect from March 2017. Although, there is no formal announcement from the other “Big Six” energy suppliers they are expected to follow suit. The energy giant blames its decision to increase the electricity tariff on the rising cost of wholesale energy. The company had signed an £18bn deal in September for the Hinkley Point nuclear plant and announced that it would reduce its gas prices by 5.2%. Nonetheless, FreePriceCompare advise the customers of EDF Energy to switch to a cheap fixed-price deal while they are still available. Once the changes are implemented the dual fuel customers of EDF Energy would face a rise of 1.2% in their energy bills, which would amount to an average bill of £1,082 a year. Those with a prepayment meter would pay £1,081 a year which […]

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Vehicles are used to analyse with a black box approach, which considers the stimulus and response of the system. Young drivers in the UK are using vehicles fitted with black boxes to monitor good or bad driving. Insurance providers also rely on these digital systems to keep a tab on their customer’s driving methods. As far as cars are concerned, Black boxes in them use GPS to gauge the driving methods of the person behind the wheels and are considered as the most reliable source to gauge the driver’s calibre. However, a report by the BBC’s Watchdog programme suggested that this is not the always the case and black boxes can actually fail to estimate the driving skills. Car insurance providers who were a part of the investigation acknowledged the error but still showed confidence in their black box policies. Talking about the role of black boxes in insurance, it […]

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We all know that last minute passport renewal service is a saving grace for travelers, but let’s not forget the fact that it costs a fortune as well. According to the report published by Columbus Direct , Brits shell a whopping £64 million on fast track passport services. This is a complete waste of money as the amount could be saved if passports are renewed on time. It was also found that in the past three years, one out of nine people faced travel issues due to non-renewal of passport. This suggests that a total number of 5.7 million people had some issues due to late renewal of passports. When divided categorically, it was discovered that out of the 5.7 million, there were 2.2 million people (4.3%) that spent extra money for a seven-day passport renewal service. In addition, there were 1.4 million people (2.7%) that are paying higher charges […]

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The CCL is a tax applied to energy bills of non-domestic users. The aim and intention of the tax is to incentivise better energy efficiency. The Climate Change Levy was introduced in April of 2001, the architects of the proposal forecasted that greenhouse emissions could be cut by 2.5 million tonnes as a result of the new tax by 2010. The tax is applied to most users except those that are listed below. In the budget of July 2015 the Chancellor of the Exchequer decided to remove the exemption of energy generated from green sources. As result non-domestic users will see an added tax on their bills. The move could see the Exchequer collect an extra £450 million per year. Rates The rates at which CCL is charged is set below, but will increase each year from the beginning of the financial year (1st of April). Electricity 0.554p/kwh Gas 0.193p/kwh […]

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Defining a secured loan A secured loan is a loan secured against your personal assets (house or car). This means that if for any reason you are unable to meet your loan repayments, these assets could be seized. Because of the assurance this offers your lender, secured loans tend to be offered at lower APR than unsecured loans. The risk to you does however mean that secured loans should not be entered into lightly. You need to be fully confident of your ability to meet monthly repayments. The size of your loan Secured loans tend to be for large sums, ranging from a few thousand pounds to £100,000. The size of loan you are able to procure will depend on your individual situation and the criteria applied by different lenders. Factors taken into consideration will include the value of your secured assets (home, car) and your income. The advantages of […]

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Since the mis-selling of PPI was headlined in the news, cold-calling by claim management companies has also attracted attention from the press. Can these companies be useful to you? What are claims management companies? These companies are often known as CMCs and have frequently featured in recent news reports; they act as an intermediary between a claimant and a company, when a legal or financial claim is made. How do claims management companies work? They act in the same way as a firm of lawyers by representing you in your claim against a financial company. They handle a variety of claims from personal injury to financial, claims management Do I need a claims management company to claim PPI? To claim PPI it is not necessary to go through a claims management company. It can be a very easy process to undertake yourself and avoid unnecessary expense However, a claims company […]

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Discover the UK market for cheap secured loans. Before you do so, it is a good idea to do some quick and simple research; just get yourself armed with a few facts about the market first and a little knowledge. Compare secured loans You can compare a wide range of homeowner loans for borrowing amounts from £3,000 to £80,000. What is a secured loan? In effect, with this type of loan, you are borrowing money that is secured against your property or possibly some other assets. You need to think carefully about the impact of borrowing with this strategy because if you find your circumstances change and you cannot keep up your regular monthly repayments, the lender could make a claim on your home to recover the debt. Do some fact finding at the outset to make sure you are securing the best deal for the right reasons. Why choose […]

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