Bank charges: High stakes

BBC Radio 4's Money Box Saturday, 27 June 2009 at 1204 BST On Radio 4 and Online 27 June 2009 Programme transcript (14pages)

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 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.

Bank charges: High stakes

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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.

Negative equity blackspot

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Barclaycard repayment

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 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.

Barclaycard repayment

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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.

Financial advice

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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.

Benefit take-up encouraged

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BBC Radio 4's Money Box was broadcast on Saturday, 27 June at 1204 BST.

The programme was repeated on Sunday, 28 June at 2102 BST.

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