27/09/2014 Your Money


27/09/2014

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Joan of Arc. It was the real woman behind the story? `` legend Derek.

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Now on BBC News, Ramzan Karmali is here with this week's Your Money.

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Money ` your weekly guide to making the most of your cash ` here every

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

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property market continues to get hotter and hotter ` so whether

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you're buying or selling, how do you make sure you get a fair deal?

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Housing expert, Henry Pryor has some top tips!

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mobile phone contracts than people in the UK? So just how do you get

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the best deal on the latest must have gadget?

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Fancy backing your sports team more than just by buying a ticket?

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Lancashire cricket club wants to borrow money from you directly in

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exchange for a 7% return. But is it a gamble or a secure investment?

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We'll hear what one savings expert thinks.

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look at the property market. Yet more data out this week suggest

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things are really hotting up. According to the Land Registry,

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annual house price growth accelerated to 8.4% in England and

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Wales in August ` the highest rate of increase for nearly seven years.

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So is this really the time to buy? Or are sellers in the box seat?

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One person with a view on all of this is housing expert, Henry Pryor

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How do you assess the market? Prices seem to get higher and higher. From

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the blizzard of monthly housing reports, both asking price surveys

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and sold house price surveys, the most recent was yesterday which

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confirmed that although prices across England and Wales are up by

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about 8%, most people in the market are seeing asking price is not

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increasing at a similar rate. The market is perhaps stabilising and

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early figures from HMRC confirm that if you do want to buy and sell you

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can do so, because there is a liquid market with roughly 100,000 homes

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trading in the last month. Their houses to buy, but if you are

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buying, what are your top tips? Whether buying or selling, the most

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important thing before you go out and look for your most expensive

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single purchase is to get prepared. It is extraordinary how many people

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start looking without having done their homework. If you're looking to

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buy, you need to remember that the mortgage landscape has changed. We

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had this review that came into effect in April and that has made it

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harder to qualify for a mortgage. Lenders have to do more to check to

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make sure that you can not only afford a mortgage today, but going

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forward when Mark Carney raises interest rates, that you will be

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able to still afford repayments. Those deals are generally good for

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two months? In terms of preparation, make sure you have spoken to a

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mortgage broker or lender and that they have been able to provide you

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with a principle so that you can go out and look with confidence knowing

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what you can afford and when the time comes you will be able to make

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an offer, and have the confidence you have credibility behind you. We

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have had news from the Conservative Party, they are talking about help

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for first`time buyers, what are they saying? We have seen a raft of

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housing initiatives from the Coalition Government, a couple of

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schemes and yesterday a rent to buy scheme which gives people an

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opportunity to rent with a view to saving the balance of the increase

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to eventually buy it. Today there is news that David Cameron feels that

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over the last four years he has been overlooking some round field sites

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`` Brown and he thinks he has found space that if he is elected he can

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build 100,000 homes. Thank you. over 90 years ` but not for much

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longer. Paper tax discs are being phased out. They'll be replaced by

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an electronic system on the 1st of October which means that existing

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discs can be removed. Under the new system, drivers will also be able to

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pay their tax by monthly direct debit. Buyers of used vehicles,

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though, will have to renew the tax when the car is bought. Until now,

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private sellers have been able to sell vehicles with existing tax. For

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more information you can visit the government's website ` the exact

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address is on your screens right the expensive adverts and the never

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ending queues outside stores for the latest mobile phone. But with so

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many tariff choices how can you be sure to get the best value for money

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and are there other options? Caroline Hepker has been finding

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out. There are more mobile phone

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contracts Customers coming into a shop

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like this will know the brands on offer, from Google to Samsung,

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Sony and HTC. They will probably have seen

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the glitzy ads But how do you get the best deal

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on the latest gizmo? You can pay for a contract

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and it's often ?0 up front, up to about ?100, and then you pay

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for your minutes and texts The other way is buying

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the phone outright, either from a manufacturer or a third`party

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retailer, like Amazon, and you choose the tariff, so you can get as

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many minutes and texts as you want. Often that's much cheaper

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and gives you the flexibility to have either one month rolling or

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maybe 12 months and at the end A two`year contract with a major

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provider will cost you around ?1170, But on a SIM only deal,

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if you pay for the phone upfront But not every manufacturer is

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the same. Buying

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a Samsung Galaxy S5 HTC 1M8 on a Belinda Palmer says shop around

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for your network. Definitely go SIM only where you

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can and choose the network. You don't have to go for one

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of the bigger networks. There are some smaller networks,

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like giffgaff, where you get the same service, it's an O2 subsidiary,

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but you get a much better deal. It is also worth watching

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for new group deals. This is

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a new thing where you can put all of As a mum running a household,

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I can say of 10GB I'll have five for myself

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and be greedy, 1GB for my son, my husband will have the other bit and

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my daughter can have what's left. Once you've got your snazzy

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smartphone, look after it. There is now a lucrative second`hand

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market online and through major Now time for some other personal

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finance stories. Customers with complaints about their gas or

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electricity service typically have to contact their supplier six times

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before their issue is resolved. The regulator, Ofgem, found that over

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half of consumers who complained, were not satisfied with the

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response. And the complaints aren't just directed at the Big 6 energy

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firms. In fact according to Ofgem's report, small energy firms can be as

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bad at handling complaints. The regulator has written a letter to

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suppliers demanding they all do motor insurance industry, the

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Competition and Markets Authority said that current practices are

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restricting competition and leading to higher premiums for customers.

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The regulator says they have a plan for changes that should knock up to

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?20 off a typical bill and stop comparison sites banning insurers

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from offering cheaper prices criticised insurers for turning down

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some claims from holidaymakers who had been drinking alcohol before

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having an accident. The service ` which settles disputes when a

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financial services company and a customer cannot agree ` said it

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upheld 53% of complaints last year, up from 42% in 2011. The Ombudsman

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said it expected a "high standard of proof" from insurers that the amount

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of booze consumed made a policy If you're lucky enough to have a

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savings account but not feeling so lucky with the rate of return you're

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getting, then perhaps you may want to invest in a retail bond?

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Basically when you buy one you're lending money directly to a company.

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Businesses like the trucking firm Eddie Stobard to mens toiletery

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experts, King of Shaves have all issued these bonds. And this week

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Lancashire Country Cricket Club have launched one too. So are they really

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a viable alternative to some of the more conventional methods of

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savings? To help us answer this, I'm joined

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by Laura Whitcombe, Deputy Editor, And we are talking about bonds are

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what are we talking about? It is an agreement to lend money over a set

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period of time and in return you get interest. When we are talking about

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the rates of return, they are much more attractive than on the High

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Street? Yes, this particular type of bond can see rates from anything to

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5% up to 10%. This one is over five years and if you look at savings

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accounts during that time frame, you would be lucky to get more than 3%.

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It sounds very attractive, but we should be aware, these are not for

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normal investors? They are very risky, there is no guarantee you

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will get your money back. With a savings account, your money is

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protected by a compensation scheme which does not apply for these

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bonds. You need to be quite wealthy, be able to afford to lose the money

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and you need to really look into what you are doing. For regular

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Saver, Bradstock, but perhaps for a cricket fan? Yes, one who can

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benefit from using it at games. In terms of protection, if the company

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goes bust, you will lose your money? There is no protection at all, but

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are there any other products you can put it into whether it's protection?

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You could invest through a bond fund, you could get a financial

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adviser to help you. If the companies involved them were to go

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bust, this scheme would not automatically pay out, but if the

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product was mis`sold, you would be protected under the compensation

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scheme. This is good for people who are not

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hugely dependent on that interest and having that money back because

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it's very risky. Lover, thank you for joining us. That's all for as

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this weekends `` Laura. Keep up`to`date on the BBC website.

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On social media we have updates on Twitter. Thanks for watching today.

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And this is BBC News. The headlines this morning full top British

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warplanes are expected to launch against Islamic State targets this

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weekend. Air strikes carried out by US led forces hit Islamic State and

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other Islamist groups in central Syria for the first time.

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