MONEY MORSELS
Energy bill hike
FIVE of the Big Six energy firms now say they will hike prices for customers on standard variable tariffs from April 1. British Gas and Scottish Power say default tariff prices will rise by £117 to £1,254, in line with the new energy price cap. E. ON, EDF and npower have already announced higher bills.
Account delays
HSBC customers are facing waits longer than a month to open an account. Banks and building societies are required by the financial watchdog to publish information about services such as account openings. An HSBC spokesman says it is ‘looking at ways to improve’ waiting times.
Equity reliance
HOMEBUYERS are becoming more reliant on cash built up in their current property when it comes to funding a deposit, new research suggests. Estate agents Hamptons International found that the average amount of cash making up a deposit which comes from equity has risen from 47 pc (£77,990) in 2007 to 62 pc (£100,840) in 2018. The amount raised through savings dropped from 51 pc (£31,570) to 30 pc (£38,900).
Attorney refunds
HUNDREDS of thousands of people with Power of Attorney are still due refunds on fees, says insurer Royal London. The Government launched a refund scheme in February 2018 after the Office of Public Guardian’s operating costs fell. Those that registered between April 1, 2013, and March 31, 2017, could be eligible. You may get up to £54 back, depending when you paid the fee. Claim by February 1, 2021.
Bank bonus
ROYAL Bank of Scotland is offering £150 to new and existing customers who switch to its current account by March 8. It is the joint top switching deal on the market along with NatWest. Both banks’ reward accounts also offer 2 pc cashback on household bills paying on average £83 a year. The accounts cost £2 a month.
Mobile cost rise
THOUSANDS of O2 and Three customers on monthly contracts will be charged 2.5 pc more from April as mobile providers push up costs in line with inflation measure the Retail Prices Index. EE has already announced its price rise of 2.7 pc from March 30.
Sick pay Percy
EMPLOYEES who are unable to work due to an illness or injury can calculate how much money they will have to live on using a new online calculator called Percy.
Developed by industry trade body the Association of British Insurers (ABI), workers tell the calculator, on the ABI website, about their sick pay entitlement and insurance policies. It calculates monthly income along with government benefits they are entitled to.