22/02/2014 Your Money


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film review. Now, it's time for Your Money.


This is your weekly guide to making the most of your cash here every


weekend on BBC News television, available all week on the BBC


iPlayer. We have all done it, paid good money


for bad service or delayed transport and felt thoroughly fed up. We'll


find out how to complain so your concerns are taken seriously. What


about picking up pet insurance or opening up a savings account while


buying milk and bread? Some supermarkets offer financial


product, but could they give high-street banks a run for their


money? House prices are back above the 2008 prerecession peak. We'll


find out what the future holds for the UK housing market.


Train companies have been told to do more to publicise refunds available


to passengers if their journey is delayed or cancelled. The Office of


Rail Regulation says most people are unaware of their rights and don't


know how to make a clap. If you're unhappy with the service, how Dow


make sure you are compensated? With me now is Yasmin Birtles. When are


you entitled to compensation? The rules say if your train is delayed


by at least an hour you can get at least 20% back on your ticket. But


tep of the companies say that if your train is delayed by 30 minutes


you can still get compensation. How do you go about claiming it? Go to


the train companies or Network Rail? There are two ways you can do it.


There is a form you can get from the ticket office, wherever you are. The


start or the finish of your journey. If you ask for the complaint form,


you get it and send it to the train operator, but also there is a


website and you can again download a complaint form and you can talk to


other passengers complaining about the situation. You can also put


information on that website about delays. We are not talking about


train companies when we are complaining. Us Brits don't be that


great at complaining, so if we have had bad service in a restaurant or


there's a delay in delivery, what should we do? There are various


things to do depending on the problem. With a dinner in a


restaurant, if there's something wrong, you should immediately ask to


speak to the manager or owner. I personal always think it is a good


idea to speak normally. Don't get aggressive. Don't shout and throw


things around. One of the problems we have in this country is either we


don't complain and we go, "Yes, thank you." Then we complain to each


other, or we shout and throw things which isn't helpful. It is good for


a restaurant owner to know if something is wrong and you can give


the reasons. Really, a good restaurant will say, "Fine, we'll


either take every off your bill or give you something for free." You


should ask for something for free and don't give a tip if you don't


think the service was right. Similarly, if you buy something in a


shop or you get bad service somewhere and it's all wrong, you


should always go to the shop first and ask for a replacement or your


money back and if it's something like a delay, bad service, I would


get in touch with the company by letter and ask for compensation. One


of the new areas of complaining is using social media. I noticed before


we came on air, you have 20 times more followers than me, so you


obviously have a great to read when you're complaining. Are they


effective? Does it work? Yes. It often does. Not always, but there


are quite a lot of companies now that have people specifically


watching social media. Watching for complaints about their brand. It


doesn't matter how many followers you have, if you've got ten


followers, but you've had problems with a bank or whatever, you can


tweet that bank or that big company and it tends to be the bigger


companies who are watching and you can say this is a problem. Quite


often they'll come back to you. If they don't, you'll have to try the


traditional routes of emailing and sending letters. By the way, when I


send a letter and I have done this in past, I've asked for an amount of


money in compensation. I usually pick a figure is twice what I think


I'll probably get and if she say no after the first letter, you write


again, still asking for compensation and if they say no, you write a


third time. Usually by the third time you get something. Great


advice. Thank you. Millions of people have bought some


sort of financial product from a supermarket. Are the stores genuine


challengers to the high street banks, as has been long predicted or


will they always play second fiddle? We sent Kevin off to pick up our


groceries and find out. It's time for your weekly big shop. Here's


something for dinner. Don't forget the essentials. And how about a


savings account? Here at the UK's largest supermarket chain, the


banking arm has just opened its 7 millionth customer account. They're


tiny compared with the big banks, but is this finally making an


attempt to go mainstream? It's another area of operation for them.


It's an obvious one to expand into, because they know so much about


their customers and the banks have a slightly bad reputation, so they can


capitalise on that. Use their marketing muscle to show complienTS


their products in the banking and insurance world and pick up quite


awe few customers. They'll become a real worry in the banks. Do they


operate in different ways. ASDA Money offers a basket of financial


products from various providers and M is wholly owned by HSBC, but


Tesco, once in bed with RBS has gone it alone since 200 # and Sainsbury's


has just made the same -- 2008 and Sainsbury's has just made the same


move, cutting links with Lloyds. Most supermarkets have yet to enter


big-time banking by offering current accounts. If and when they do, will


we be comfortable putting our standing orders and sausage in the


same basket? Definitely. It's about competition. Where there's the best


deal for me, that's where I'll go. If it's the supermarket, then


definitely. Banks give you 100% banking and Sainsbury's do banking


and shopping in both, so you got to draw a line somewhere. The offer


would have to be competitive to take me away from the bank which I'm with


now. Let's see and wait and see. I think fruit and vegetable from the


supermarkets and that's it. High street banks say they welcome


competition, but with challenger banks have to jump lots of hurdles


to get started, do they have much to fear? Supermarket banks have been


competitive with the simple products like loans and cards and savings.


Over the last couple of years we have seen a couple of them talking


about getting into the current account market. That will be much


more challenging for them. The challenge that all the new people


will have, including the supermarkets, is getting people to


switch. People are still reluctant, so the challengers will have to come


up with something really special to switch. To really get a foothold in


the financial services sector, the grocery giants need to offer


bargains for banking too. He still forgot my butter. News of


more places. Customers of many banks will be able to do some of their


perm banking in the Post Office. The State-controlled bank will allow


retail and business customers to pay in cheques at any banks of the Post


Office. It already provides basic services to many other banks,


including Lloyds and Barclays. Inflation has fallen to 1.9%, the


first time it's been below the Bank of England's 2% target for more than


four years. The Office for National Statistics said that low inflation


was partly due to a fall in the cost of recreational and cultural


activities, including DVD prices and lower entrance fees to attractions


like amusement parks. Household appliances may not be as energy


efficient as we're led to believe. The Energy Saving Trust, said one in


five products do not match their claims. The organisation is to


tackle the problem with mystery shoppers, who will test products in


an attempt to prevent the problem occuring.


The average house price in the UK has hit ?250,000 for the first time.


That's according to the Office for National Statistics. The property


website rightmove says asking prices are up 7% and more loans are being


given to first-time buyers, so the market looks to be in good health


again, but can anything throw it off track? He needs no introduction. I'm


joined by Henry Prior, resident property expert. That's quite a


threshold to pass, because the stamp duty will go up, so will it impact?


It is somewhat ironic that here we are 12 months away from the next


general election and the Government have been demonstabley feeding the


housing market over the last 12 months. Asking prices are up 7% over


the last year and sale prices, the actual deal prices is up nearly 5%.


And the tax man just on Friday confirming that in January the


number of houses sold in January was 30% higher than it was 12 months


ago, so from that point of view it looks like good news. What is the


impact that other schemes have had? We have had lots of Government


schemes. Help to buy, what impact has that had? It's been a huge


stimulus to the building trade, very much the aim of help to buy one,


which was launched in April last year at the Budget. That has made


sure that construction sites have been demothballed and builders are


out there. The danger and warning signs are reports recently that


house builders have been selling as much as even 25% of their new homes


to people who have taken up the offer of Government assistance. At


some future date that will be withdrawn and when it is


unfortunately there has to be the chance that prices and the market as


a whole will then fall back. Going back to the 250,000, that stamp duty


will go up to 3% for people? Correct. We have the extraordinary


situation where the slab-like tax, something which has provoked a


considerable amount of debate in the industry, has now reached ?250,000,


so people buying a house for that amount of money, which a phenomenal


amount, will face a 3% tax. There are things in the offing. We have


the Budget next month. What could trip up the market? It's not all


good news. We have got in April the mortgage market review kicking in.


It's a rather bland title for some new rules and regulations that


providers will adhere to. They'll have to be responsible for borrowers


being able to afford not just repayments to date, but repayments


when interest rates rise, as they will. In 12 months' time, overseas


buyers of property, which have been somewhat in the news in the last 12


months, particularly if London and the south-east, will face a capital


gains tax of 23% and that is expected to put a dampner on rampant


house prices in the south-east. Henry, thank you.


that is all for this week. News, tips and information on saving,


borrowing, pensions and spending, any time you like online. You can


get updates by following our feed on Twitter. We are back next week. By


bye for now. Here are the headlines: Protesters


in Ukraine, wearing helmets and carrying back is, are guarding


government buildings and the president appears to have left the


capital. The head of the Roman Catholic Church in England and


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