Browse content similar to 28/05/2014. Check below for episodes and series from the same categories and more!
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The Church of England is to start promoting the use of credit unions | :00:13. | :00:17. | |
in two London diocese, in an attempt to challenge payday lenders. | :00:18. | :00:22. | |
The Archbishop of Canterbury has previously said he'd like to put | :00:23. | :00:26. | |
The new scheme is being piloted in London first, but the church | :00:27. | :00:33. | |
hopes it can build up a national network of community`based support. | :00:34. | :00:37. | |
Payday lenders. They offer quick credit to people in need. | :00:38. | :00:40. | |
But the interest rates can go sky high. | :00:41. | :00:43. | |
Now, they've got competition from the church. | :00:44. | :00:47. | |
They will work with you, how much you can afford a month. | :00:48. | :00:50. | |
Meet Rosemia Brown, a financially savvy vicar. | :00:51. | :00:54. | |
She's on a mission to recruit people to her local credit union. | :00:55. | :00:57. | |
I had to borrow some money, and then... | :00:58. | :01:01. | |
18 months ago, this grandmother took out a payday loan for ?1200 | :01:02. | :01:06. | |
She's only managed to pay back the ?700 worth of interest. | :01:07. | :01:13. | |
I thought I would be able to pay it back, you know? | :01:14. | :01:17. | |
Over the period, in the short, given time. | :01:18. | :01:22. | |
But it doesn't work, you plan to do this | :01:23. | :01:25. | |
It may not hand out the cash, but should the Church | :01:26. | :01:31. | |
Money is a thing that we need to use every day. | :01:32. | :01:36. | |
But we have to be responsible with it. | :01:37. | :01:40. | |
We have to make it work for us and not become slaves to it. | :01:41. | :01:44. | |
That's why I think it's important from the church. | :01:45. | :01:47. | |
But with some 16,000 parishes, the Church of England | :01:48. | :01:52. | |
believes that it has the potential to create | :01:53. | :01:54. | |
the biggest branch network in the country. | :01:55. | :01:58. | |
So, what's the difference between a credit union and a payday lender? | :01:59. | :02:02. | |
Well, a credit union is not for profit, with interest | :02:03. | :02:05. | |
at a maximum of 3% a month. So, a ?400 loan would cost ?12. | :02:06. | :02:13. | |
A payday lender is a commercial enterprise. | :02:14. | :02:16. | |
That same loan could cost around ?127. | :02:17. | :02:23. | |
But payday loan companies say they fill a gap in the market. | :02:24. | :02:28. | |
Credit unions aren't really interested in getting into the | :02:29. | :02:30. | |
They're more interested in savings, longer term loan products rather | :02:31. | :02:34. | |
than immediate access, short`term loans. | :02:35. | :02:38. | |
And that's a very different product, which is something that | :02:39. | :02:40. | |
the payday lending industry will continue to provide. | :02:41. | :02:42. | |
But the Church of England is now taking them on and | :02:43. | :02:45. | |
it hopes there will be many more signing up for its new service. | :02:46. | :02:53. | |
The congestion charge is to increase from ?10 to ?11.50 from mid June. | :02:54. | :02:58. | |
Those using the auto pay system will see the cost rise to ?10.50. | :02:59. | :03:03. | |
TfL says that since the congestion charge was introduced in 2003, more | :03:04. | :03:07. | |
than ?1 billion has been re`invested in London's transport network | :03:08. | :03:13. | |
Nobody ever particularly welcomes a rise in a charge for anything. | :03:14. | :03:15. | |
But this is about maintaining the effectiveness of the congestion | :03:16. | :03:18. | |
charge, which has been very effective in terms of reducing | :03:19. | :03:20. | |
They reduced by something like 20%, more or less since the day it came | :03:21. | :03:25. | |
It's about maintaining that and making sure we can provide | :03:26. | :03:30. | |
the road space for everything that needs to go on in central London | :03:31. | :03:33. | |
I like the idea that there's less cars on the road, | :03:34. | :03:41. | |
It enhances the experience of being in the city for everybody. | :03:42. | :03:47. | |
We're still driving. We have to, it's part of the job. | :03:48. | :03:50. | |
We just have to pay it, and the client will pay it. | :03:51. | :03:53. | |
Landlords in the capital can now join a new accreditation scheme, | :03:54. | :03:56. | |
Boris Johnson says his initiative will protect London's 2 million | :03:57. | :04:00. | |
But critics says it's a meaningless gimmick, which lacks teeth. | :04:01. | :04:04. | |
This is not your average student house. | :04:05. | :04:09. | |
Six bedrooms, a handsome entertaining space, one jacuzzi. | :04:10. | :04:14. | |
Nor was this an average morning for its tenants. | :04:15. | :04:16. | |
They'd clearly done some cleaning, for example, and they welcomed | :04:17. | :04:19. | |
Right, so this is the main room, here? The main living room? | :04:20. | :04:25. | |
More often than not, we didn't have hot water. | :04:26. | :04:32. | |
We also had some furry friends living with us. | :04:33. | :04:36. | |
So, for the owners of a decent property, being part | :04:37. | :04:38. | |
of the Mayor's new landlord accreditation scheme seems ideal. | :04:39. | :04:42. | |
If you are unable to present yourself effectively, | :04:43. | :04:44. | |
with the badge, as an accredited landlord, then it's something the | :04:45. | :04:47. | |
landlords should be doing, because if you're not doing it, they're | :04:48. | :04:51. | |
Under the new London rental standard, a landlord must offer | :04:52. | :04:55. | |
his property in good condition, must offer clear communication with | :04:56. | :04:58. | |
the tenants and must respond quickly to any problems. | :04:59. | :05:01. | |
But the scheme is only voluntary and there are no fresh ways | :05:02. | :05:05. | |
And there are fears that the new scheme will create a double layer | :05:06. | :05:10. | |
of renting in London, for those who can afford good quality, which is | :05:11. | :05:14. | |
To what degree with this offer protection to a tenant, | :05:15. | :05:19. | |
a guarantee of tenure or, indeed, rental protection that things will | :05:20. | :05:24. | |
It's very interesting, all the markets where they have tried to | :05:25. | :05:30. | |
do that, what happens is they drive properties off the market and you | :05:31. | :05:34. | |
That's what happened in Germany, they tried to bring | :05:35. | :05:37. | |
in rent controls and people say, "Well, stuff that, I'm not going to | :05:38. | :05:41. | |
And, low and behold, there is a shortage and the rents go up. | :05:42. | :05:46. | |
The trouble is, it's very much a landlord's market. | :05:47. | :05:48. | |
Tenants don't have choice at the moment. | :05:49. | :05:50. | |
A lot of tenants have to go for the first thing they can afford, | :05:51. | :05:53. | |
whether or not a landlord is any good or not. | :05:54. | :05:56. | |
He claims he had to withhold his rent to get | :05:57. | :06:00. | |
I don't think... It's hard to say. | :06:01. | :06:09. | |
In my opinion, his skills as a landlord were not that great. | :06:10. | :06:15. | |
Maybe an accreditation scheme might help him have better communication. | :06:16. | :06:23. | |
The capital's property problems are already well publicised. | :06:24. | :06:26. | |
Whether this latest scheme works will depend | :06:27. | :06:28. | |
now let me hand you over to Stav Denaos for a look at the weather. | :06:29. | :06:46. | |
I think many of us are fed up of the damp weather. The good news is that | :06:47. | :06:51. | |
many of us will see glimmers of sunshine through the afternoon | :06:52. | :06:54. | |
tomorrow. Overnight it remains cloudy for much of the capital. | :06:55. | :06:58. | |
Still spots of rain, mist and fog. With the cloud cover, another mild | :06:59. | :07:02. | |
night with temperatures in double figures. Tomorrow, after a great | :07:03. | :07:05. | |
start, we'll start to see the sunshine break into the cloud in the | :07:06. | :07:08. | |
afternoon. That may trigger some heavy showers. Some misty | :07:09. | :07:14. | |
conditions, are breaking up, sunshine developing. As temperatures | :07:15. | :07:17. | |
left, some showers develop. Some of them might be heavy or thundery | :07:18. | :07:21. | |
across northern areas. Top temperatures in the capital are 17 | :07:22. | :07:25. | |
or 18 Celsius. I'll leave you with a summary for the next few days. It's | :07:26. | :07:29. | |
turning bright as we head into the weekend. My colleague John Hammond | :07:30. | :07:30. | |
will have your weekend. My colleague John Hammond | :07:31. | :07:32. | |
will have your national details right now. | :07:33. | :07:37. | |
Hello. Some of us had a nice day. Others of you will be wondering if | :07:38. | :07:43. | |
the sun will ever shine again. It's been another cloudy and damp day | :07:44. | :07:48. | |
across many parts of the country. No more so than across the heart of | :07:49. | :07:51. | |
northern England, where, through the heart of the day, with persistent | :07:52. | :07:55. | |
rain, temperatures were | :07:56. | :07:56. |