Energy bill discounts and the pitfalls of equity release

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Paul Lewis hears from some of the people who are taking a record amount of money out of the value of their homes. £1 billion was released in the first nine months of the year - almost as much as the total for 2013. But is equity release always a good idea? What does it cost? And what restrictions are there? Banks are imposing tough new rules on politicians ahead of EU laws which will treat with suspicion all banking activity involving public figures. Members of the House of Lords seem to be first in the frame with reports of members' children being refused bank accounts or access to ATMs. British Gas has confirmed to Money Box that it will be paying £55 less warm home discount to its low income pensioners and other customers this winter. The warm home discount is £140 off one winter electricity bill. Last winter, British Gas paid £195 to most eligible households, adding £60 to the standard amount. This winter it will not do so, bringing its discount down to the level paid by other suppliers. So who can get the discount? And what do they have to do? HSBC has been forced to pay compensation to a customer who transferred his pension to the bank but got no ongoing service or advice, even though he was charged for it. The decision opens the possibility of others making a claim. Find out if you can too.