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News Tag: consultation

March 10, 2010

FSA delays PPI reforms

by Kay Murchie
The Financial Services Authority (FSA), has announced a delay on its plans to reform the Payment Protection Insurance (PPI) market. The City Watchdog said its consultation will be delayed by six weeks due to a heavy amount of criticism from the financial industry. Under a PPI policy, an agreed sum of money is paid out each month to fully cover, or cover a percentage of ...

February 7, 2010

Protection for homeowners unable to pay credit card debt

by Gill Montia
Property owners in danger of losing their homes as a result of consumer debt could soon be better protected. The Ministry of Justice has launched a consultation on proposed new measures that would set a minimum level of such debt before a court can order the sale of a home. Under the current system, a property owner who cannot pay ...

January 15, 2010

900 jobs at risk as Bosch plans to close Welsh factory

by Kay Murchie
Motor parts manufacturer Bosch has announced plans to close its site in Miskin, near Cardiff, in summer 2011 which will result in the loss of approximately 900 jobs. The decision follows three months of consultation and the firm has now decided to recommend complete closure of the plant and is said to be transferring the work to ...

December 2, 2009

Government unveils financial plans for the Post Office

by Kay Murchie
The Government has outlined plans for the Post Office to become a ‘people’s bank’ by offering financial products. The proposals, led by Business Secretary Lord Peter Mandelson, will create a ‘People’s Bank’, which will see Post Office outlets as the backbone of a new national bank. According to the Government, the plans will turn the Post Office into "a leading player ...

November 13, 2009

Minister to consult on legal move to halt repossession

by Gill Montia
Courts Minister Bridget Prentice has announced that the Government intends to publish a consultation by the end of the year on tightening up the law so that no lender can sell the home a borrower lives in against their wishes, without first going through the court process. The consultation follows a particular case in 2008, Horsham Properties Limited v ...

October 27, 2009

Uncertain future at London Lite Newspapers

by Kay Murchie
Free evening newspaper, London Lite, has seen its future thrown into doubt today after its owner Associated Newspapers said it would begin a consultation with its employees. London Lite, which is currently losing almost £10 million a year, was launched on 30 August 2006 but its owner has recently expressed concern about the "commercial viability" of the paper. The paper employs 36 ...

July 30, 2008

HIPs to be improved with new questionnaire

by Gill Montia
The Government wants to improve Home Information Packs (HIPs) to reduce the likelihood of problems emerging well into the sales process. Under the proposals, HIPS could include a property information questionnaire that would relate to such issues as building work carried out, energy and utility suppliers, parking arrangements and Council Tax banding. A consultation has been launched to establish what changes are needed to make the buying ...