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| Bank charges: High stakes | |
| (about 9 hours later) | |
| BBC Radio 4's Money Box Saturday, 27 June 2009 at 1204 BST On Radio 4 and Online | BBC Radio 4's Money Box Saturday, 27 June 2009 at 1204 BST On Radio 4 and Online |
| Banks have appealed to the House of Lords in an attempt to overturn an earlier ruling by lower courts which said that that their charges have to be fair. | Banks have appealed to the House of Lords in an attempt to overturn an earlier ruling by lower courts which said that that their charges have to be fair. |
| If the banks win, claimants are unlikely to get any of their money back. | If the banks win, claimants are unlikely to get any of their money back. |
| If the banks lose, the legal process will move into a key and final stage. | If the banks lose, the legal process will move into a key and final stage. |
| We speak to Marc Gander of the Consumer Action Group (CAG) and BBC personal finance reporter Ian Pollock. | We speak to Marc Gander of the Consumer Action Group (CAG) and BBC personal finance reporter Ian Pollock. |
| Further information: | Further information: |
| href="/2/hi/business/8120434.stm">What next for bank overdraft fees? class="bodl" href="/2/hi/business/8119057.stm">OFT vows to pursue bank charges Banks 'face deluge of litigation' Banks 'not Robin Hood in reverse' Crunch time for bank charges case External internet links | |
| Negative equity blackspot | |
| In 2009 the Council of Mortgage Lenders predicts 65,000 repossessions | |
| Could lenders be doing more to advise those of their mortgage customers who fear slipping into arrears? | |
| Citizens Advice says requests for mortgage arrears help is growing - in the East Midlands it is up 70% compared to last year. | |
| And it says more people on higher incomes are now seeking guidance. | |
| Money Box's Bob Howard has been to Northampton to hear one man's story. | |
| Further information: | Further information: |
| href="/2/hi/business/8112465.stm">Repossession risk 'overestimated' href="/2/hi/business/8051510.stm">UK repossessions up 50% in a year href="/2/hi/business/7686547.stm">'Don't ignore the threat of repossession' External internet links | |
| Barclaycard rates | Barclaycard rates |
| Barclaycard says customer feedback about the change is positive | Barclaycard says customer feedback about the change is positive |
| Barclaycard is cutting the minimum monthly repayment which some of its customers must make from 2.25% a month to just 1.5%. | Barclaycard is cutting the minimum monthly repayment which some of its customers must make from 2.25% a month to just 1.5%. |
| Barclaycard refused to say how many customers are being moved to the new rate, how they are being selected, or how long the lower rate will last. | Barclaycard refused to say how many customers are being moved to the new rate, how they are being selected, or how long the lower rate will last. |
| Martin Lewis, the founder of moneysavingexpert.com, tells us how this change will affect customers. | Martin Lewis, the founder of moneysavingexpert.com, tells us how this change will affect customers. |
| Further information: | Further information: |
| Barclaycard cuts 'low-risk' rates Credit card debt: Your views Credit cards to face restrictions External internet links | Barclaycard cuts 'low-risk' rates Credit card debt: Your views Credit cards to face restrictions External internet links |
| A 2007 FSA review said commission could lead to mis-selling | |
| Financial advice | |
| The financial advice sector is facing a huge shake-up with the publication of proposals on how to reform the way we are sold financial products. | |
| The suggestions, drawn up by the industry's regulator, the Financial Services Association (FSA), distinguish between those advisers or businesses which provide truly "independent" advice and those that provide "restricted" advice - selling products linked to a bank or particular firm. | |
| The FSA is also proposing an end to all commission based selling, replacing this with fees for advice. | |
| We get reactions to the proposals from Denis Armitt, an independent financial adviser from Stockport, and Jon Pain, the FSA's managing director of Retail Markets. | |
| Further information: | Further information: |
| href="/2/hi/business/7963156.stm">Where to get financial advice href="/2/hi/business/7274580.stm">March 2008: Call for free money advice scheme href="/2/hi/business/6245098.stm">June 2007: Advisers' commissions under fire External internet links | |
| Benefit take-up encouraged | |
| Angela Eagle wants to encourage take-up of pension credit | |
| Up to £5.4bn worth of means-tested benefits are not being claimed by older people, according to government figures released this week. | |
| Age Concern and Help the Aged estimate that in total between two and three million pensioners did not claim council tax benefit and pension credit in 2007-2008. | |
| We find out more from Angela Eagle, the new Pensions Minister and Mervyn Kohler, special adviser to Age Concern and Help the Aged. | |
| Further information: | |
| Your pensions questions answered Billions in benefits go unclaimed Wrong benefit payments continue Pensioners' lost millions External internet links | |
| BBC Radio 4's Money Box was broadcast on Saturday, 27 June at 1204 BST. | |
| The programme will be repeated on Sunday, 28 June at 2102 BST. | The programme will be repeated on Sunday, 28 June at 2102 BST. |