Press releases

1.7 MILLION PENSIONERS[2] RELY ON PROPERTY FOR RETIREMENT

A 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.

News 

CHRISTMAS SPENDING TO BE CUT BY £300 MILLION, BUT SHOPPERS COULD BLOW OVER £93 MILLION JUST GETTING TO THE SHOPS

Christmas 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.

Credit Cards 

Credit card summit

Finally 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%

Gas & Electricity 

USWITCH.COM LAUNCHES PREPAYMENT METER SWITCHING SERVICE

uSwitch.com has launched a new service to help Britain’s 5.9 million prepayment meter customers get a better energy deal.

Gas & Electricity 

AS WINTER ENERGY BILLS BITE, 42% OF HOUSEHOLDS RISK SAFETY BY NOT GETTING BOILER SERVICED

One 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.

Credit Cards 

CONSUMERS SPLURGE £3.6 BILLION[1] ON CREDIT CARD CHEQUES

uSwitch.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.

24 SAVINGS PROVIDERS CUT RATES

Following 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%.

Gas & Electricity 

POTENTIAL ENERGY PRICE CUTS NEXT YEAR – USWITCH.COM COMMENTS

Scottish and Southern Energy has revealed that it hopes to cut household energy prices early next year if wholesale prices continue to drop. Ann Robinson comments.

Current Accounts 

SIX CURRENT ACCOUNT PROVIDERS CUT IN-CREDIT INTEREST RATES

During 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%.

Car Insurance 

MORE GLOOM FOR CAR INDUSTRY AS 77% OF MOTORISTS PUT BRAKES ON CAR BUYING PLANS

The 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.