POUND NOTES

GOOD NEWS FOR BORROWERS

THE choice of credit-impaired mortgages on the market has surged over the past six months, according to figures from Moneyfacts.co.uk. There were 843 deals available in August compared with 725 in February, Moneyfacts said. Charlotte Nelson, a finance expert at Moneyfacts.co.uk, says: “In the past six months, the number of deals has increased by 118 to stand at 843 in August. This is good news for borrowers who have struggled with a poor credit history in the past and had difficulty in obtaining a mortgage.”

LOYAL HOME INSURANCE CUSTOMERS HIT WITH EXCESSIVE PREMIUMS

LOYAL home insurance customers can find themselves paying a £75-per-year loyalty penalty for sticking with the same provider, Which? has found. The consumer group found customers with combined buildings and contents policies owned for longer than a year were paying, on average, £75 more annually than new customers.

A spokesman for the Association of British Insurers (ABI) says: “We want everyone to get the best deal in a competitive market, which is why we have launched an industry initiative to help those customers who do not shop around. ”

ARE YOUR SUITCASE CONTENTS WORTH UP TO £5,000?

HOLIDAYMAKERS from London and Northern Ireland carry the highest value items in their suitcases, a UK-wide survey has found. Across the UK, travellers from London had the highest value travel bags and contents, worth £1,604 on average, the survey of more than 16,000 holidaymakers by the AA suggested. This was followed by holidaymakers from Northern Ireland with £1,565 of goods, the study said.

CON ARTISTS TARGET TIMESHARE FRAUD VICTIMS WITH MORE SCAMS

THIEVES are targeting people who have already been a victim of timeshare fraud, Action Fraud is warning. Across the UK, victims of ‘timeshare recovery fraud’ reported losing a total of more than £7m between January and July 2018 – and the average loss was £14,000.

Action Fraud said reports show that fraudsters are taking advantage of previous fraudulent or mis-sold timeshare schemes and are advising victims who have invested in timeshares abroad that they are owed compensation.