http://www.uswitch.com/Directory/Press-Room/Press-Room.aspxThe latest industry news from the UK for utilities, telecoms, broadband and personal finance.60en-GBhttp://www.uswitch.com/images/rss_logo.jpghttp://www.uswitch.com?ref=rssprCorporate PagesLoansEnergyHome PhoneDigital T VCredit CardsBroadbandWaterDirectoryMarket NewsHeating CoverCurrent AccountsCar InsuranceMobilesConsumer GuideSecured LoansCustomer AccountsBundlesMortgagesDebt Advice CentreLife InsuranceHome InsuranceTravel InsuranceCredit Report CentreSavingsBusiness EnergyA new report out today from price comparison and switching service uSwitch.com, reveals that almost 1.7 million[2] pensioners are relying on property to fund their old age. Sadly, this group alone has already seen almost £45 billion[2] disappear from their retirement fund in just 12 months as the average house price has dropped almost £30,000 (14.6%) to £158,872[2]. This property reliance is also rife amongst the next generation of retirees with more than one in four (26%) of 55-64 year olds following suit and almost half (45%) of 25-34 year olds[3]. This suggests that today’s property slump is going to hit the next generation of retirees hard as well.http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=1.7-MILLION-PENSIONERS%5b2%5d-RELY-ON-PROPERTY-FOR-RETIREMENTMon, 01 Dec 2008 00:00:00 GMTNewsuSwitch.comFinally the government is sitting up and taking notice of money making initiatives inflicted on consumers by credit card providers. In the last month alone two big players in the credit card market have been guilty of increasing standard purchase APR’s, with HBOS Plus Mastercard rates rising from 15.9% to 16.9% (tier one) and from 17.9% to 18.9% (tier two), and the standard purchase APR for Abbey’s Mastercard/Visa credit card offering has inflated from 15.9% to 18.9% http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=Credit-card-summitThu, 27 Nov 2008 00:00:00 GMTNewsuSwitch.comChristmas spending is set to be cut by £300 million this year as shoppers face the first credit crunch Christmas. But new research from uSwitch.com, the independent price comparison and switching service, suggests that almost a third of these savings could be wiped out by shoppers throwing away over £93 million on driving and car parking charges. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=CHRISTMAS-SPENDING-TO-BE-CUT-BY-300-MILLION%2c-BUT-SHOPPERS-COULD-BLOW-OVER-93-MILLION-JUST-GETTING-TO-THE-SHOPSThu, 27 Nov 2008 00:00:00 GMTNewsuSwitch.comOne in two households (49%) have delayed putting their heating on this winter while almost six in ten (59%) have turned the temperature down to combat soaring energy bills, according to new research from uSwitch.com.http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=AS-WINTER-ENERGY-BILLS-BITE%2c-42-OF-HOUSEHOLDS-RISK-SAFETY-BY-NOT-GETTING-BOILER-SERVICEDFri, 21 Nov 2008 00:00:00 GMTNewsuSwitch.comuSwitch.com’s credit card cheque investigation has revealed that more than 14.1 million[7] UK consumers have been sent more than 280 million[2] credit card cheques in the last year, 97%[7] of these were unsolicited. 3.2 million[1] of these cheques have been used by consumers spending a staggering £3.6 billion[1]. In total, this has made providers a pocket lining £571 million[2] in handling fees and interest. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=CONSUMERS-SPLURGE-3.6-BILLION%5b1%5d-ON-CREDIT-CARD-CHEQUESThu, 20 Nov 2008 00:00:00 GMTNewsuSwitch.comFollowing the announcement of an unprecedented 1.5% interest rate cut by the Bank of England, uSwitch.com reveals that 24 savings account providers have already cut rates. Unfortunately for savers, over half of these reductions (14) match, and in some cases outstrip, the base rate reduction by up to an additional 1.05%. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=24-SAVINGS-PROVIDERS-CUT-RATESMon, 17 Nov 2008 00:00:00 GMTNewsuSwitch.comDuring a week of financial frenzy, research from uSwitch.com reveals that six current account providers have reduced in-credit interest rates by as much as 0.99%.http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=SIX-CURRENT-ACCOUNT-PROVIDERS-CUT-IN-CREDIT-INTEREST-RATESMon, 10 Nov 2008 00:00:00 GMTNewsuSwitch.comIn response to today’s decision by the Bank of England to decrease the base rate by 1.5% to 3%, Louise Bond, personal finance manager at uSwitch.com, the independent price comparison and switching service, comments: http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=Base-rate-reduction-from-4.5-to-3Thu, 06 Nov 2008 00:00:00 GMTNewsuSwitch.comThe car industry faces further gloom as new research reveals that motorists are drastically changing their car buying plans in light of the deepening economic crisis.http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=MORE-GLOOM-FOR-CAR-INDUSTRY-AS-77-OF-MOTORISTS-PUT-BRAKES-ON-CAR-BUYING-PLANSTue, 04 Nov 2008 00:00:00 GMTNewsuSwitch.comTim Wolfenden, Head of Business Services at uSwitch.com, comments on the effects of small business energy provider BizzEnergy going into administration. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=BizzEnergy-goes-into-administrationMon, 03 Nov 2008 00:00:00 GMTNewsuSwitch.comThe latest independent Customer Satisfaction Report from uSwitch.com reveals that the big six energy suppliers have seen a drop in customer satisfaction following this year’s price hikes. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=ENERGY-COMPANIES-PAY-FOR-PRICE-HIKES-AS-CUSTOMER-SATISFACTION-PLUMMETSTue, 28 Oct 2008 00:00:00 GMTNewsuSwitch.comTo celebrate the start of the Christmas shopping season, trusted high street brand Argos rides the ‘sub-prime’ band wagon with Provident Personal Credit, offering consumers the ‘Easy Shop Card’. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=ARGOS-OFFERS-CREDIT-AT-222.7-APRMon, 27 Oct 2008 00:00:00 GMTNewsuSwitch.com“More than a year after the Credit Crunch began and, today, the UK is one step closer to the inevitable recession. This is the first time we have been in this situation for 16 years, bucking the trend of 64 consecutive quarters of growth. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=Ann-Robinson%2c-Director-of-Consumer-Policy-at-uSwitch.com%2c-comments-on-the-figures-released-this-morning-by-the-Office-of-National-Statistics-ONS-confirming-the-first-quarter-of-declined-growthFri, 24 Oct 2008 00:00:00 GMTNewsuSwitch.com“It’s very disappointing to see a small energy provider like Electricity 4 Business (E4B) going out of business as these types of companies are crucial in driving competition in the small and medium enterprise (SME) market place. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=Electricity-4-Business-goes-into-administrationThu, 23 Oct 2008 00:00:00 GMTNewsuSwitch.comEighteen months after the unlimited broadband debacle first hit the headlines and around nine out of ten broadband users (86%) still don’t understand the limit on their service[1]. New research from uSwitch.com reveals that 6.2 million[1] broadband customers wrongly believe they have an unlimited broadband service and a further 7.5 million[1] do not know what their limit is – a total of 13.7 million[1] confused customers. This has led to almost 1 million[2] consumers nearly reaching or exceeding their limit in the last year alone, an issue that could be avoided if providers clearly stated their ‘unlimited limits’. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=%e2%80%98UNLIMITED-LIMITS%e2%80%99-STILL-BAFFLE-NINE-OUT-OF-TEN%5b1%5d-BROADBAND-USERSThu, 23 Oct 2008 00:00:00 GMTNewsuSwitch.comuSwitch.com’s 2008 credit card market analysis shows that tweaking terms and conditions has generated up to £1 billion[1] for the credit card industry over the last year. The current economic situation is the perfect climate to cultivate these subtle small print tweaks and suppliers feel confident to make these changes as credit hungry consumers are being forced to turn to them. In fact, while credit card spending has rocketed by £130 million[2], the amount issued in unsecured personal loans has plummeted by £132 million[2], perfectly plugging the credit gap. This suggests that credit card providers are tapping into a captive market with no-where else to go.http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=CONSUMERS-ARE-FLEECED-FOR-UP-TO-1-BILLION%5b1%5d-ON-CREDIT-CARDSTue, 21 Oct 2008 00:00:00 GMTNewsuSwitch.comDespite the recent base rate decrease, in the last week two loan providers[1] have increased their unsecured loan rates by up to 4.8%, hitting consumers even harder in the pocket. The move follows in the footsteps of eight providers who increased unsecured personal loan rates by as much as 9%[2] over the last four weeks. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=LOAN-RATES-CONTINUE-TO-CREEP-UP-FOR-CONSUMERSMon, 20 Oct 2008 00:00:00 GMTNewsuSwitch.comToday, new research from uSwitch.com reveals that 7.3 million[2] consumers currently make over 38 million[10] cash withdrawals using a credit card every year. With major providers charging up to 32% APR[3] for this feature - almost double the average purchase APR (17.2%)[8] - this is a very lucrative ‘cash cow’. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=CONSUMERS-RACK-UP-161%5b1%5d-MILLION-INTEREST-BILL-WITHDRAWING-CASH-ON-CREDIT-CARDSTue, 14 Oct 2008 00:00:00 GMTNewsuSwitch.comNew research from uSwitch.com, the independent price comparison and switching service, reveals that almost half of Brits (42%) have cancelled insurance or pension contributions in a bid to cut household expenditure and ease financial pressure.http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=AS-CREDIT-CRUNCH-BITES%2c-DESPERATE-BRITS-DITCH-PENSIONS-AND-INSURANCE-TO-SAVE-CASHTue, 14 Oct 2008 00:00:00 GMTNewsuSwitch.comIn response to the High Court judgement that most consumers will not be able to use common law to challenge bank charges, Simeon Linstead, head of personal finance, uSwitch.com comments:http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=OFT-Current-account-investigationFri, 10 Oct 2008 00:00:00 GMTNewsuSwitch.com