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Cost of caring for parents leaves kids facing £77,000 shortfall

Two thirds (68%) of people underestimate real cost of elderly care[1] Average individual care bill totals over £360,000 for ten years, but consumers believe it is £283,000, leaving a potential shortfall of …

uSwitch comments on Lloyds Banking Group setting aside another £1 billion to compensate customers

Commenting on the announcement today that Lloyds Banking Group is putting aside another £1 billion to compensate customers for mis-sold PPI and unfair mortgage practice, Tom Lyon, money expert at …

uSwitch comments on latest Current Account Switch Service figures

Commenting on the latest figures from the Current Account Switch Service, published today, Tom Lyon, money expert at uSwitch.com, says: “Despite enabling nearly four million switches in the four years …

uSwitch comments on FCA consultation to require current account providers to publish information on service and performance

Commenting on FCA proposals announced today to require current account providers to publish information on service and performance, Richard Neudegg, Head of Regulation at uSwitch.com, says: “These proposals are a step in the right direction …

uSwitch comments on Bank of England’s Credit Conditions Survey

Commenting on the latest Credit Conditions Survey published by the Bank of England today, Tom Lyon, money expert at uSwitch.com, says: “The news that default rates on credit cards and …

High street banks fail to impress in 2017 uSwitch Credit Card Awards

The latest uswitch.com survey of more than 10,000 credit card customers reveals that the big high street banks are falling behind other providers[1] Nationwide Building Society wins the coveted uswitch.com 2017 Credit …

Cards blocked abroad cost holidaymakers £240 million

Almost half (49%) of consumers rely on credit or debit cards when travelling abroad[1] A quarter (26%) have had their cards blocked while on holiday – even though nearly two …

Brits hit by £300 million in unarranged overdraft fees

One in eight (13%) consumers have dipped into their unarranged overdraft in the last year[1] costing an average of £33 each time[2] Almost half (46%) of those charged for using …

uSwitch comments on FCA complaints data

Commenting on the publication of the Financial Conduct Authority’s (FCA) latest complaints data, Tom Lyon, money expert at uSwitch.com, says: “PPI remains the most complained about financial product making up nearly three …

Half a million mortgage holders raid homes to release cash

A third of homeowners (32%) who have remortgaged in the last five years have done so to release equity from their property[1] – borrowing £43,918 on average[2] Over half used …