27/09/2014 Your Money


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


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


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


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


property market continues to get hotter and hotter ` so whether


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


Housing expert, Henry Pryor has some top tips!


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


the best deal on the latest must have gadget?


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


Lancashire cricket club wants to borrow money from you directly in


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


We'll hear what one savings expert thinks.


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


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


annual house price growth accelerated to 8.4% in England and


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


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


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


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


the blizzard of monthly housing reports, both asking price surveys


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


confirmed that although prices across England and Wales are up by


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


housing initiatives from the Coalition Government, a couple of


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


and are there other options? Caroline Hepker has been finding


out. There are more mobile phone


contracts Customers coming into a shop


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


Sony and HTC. They will probably have seen


the glitzy ads But how do you get the best deal


on the latest gizmo? You can pay for a contract


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


for your minutes and texts The other way is buying


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


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


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


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


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


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


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


the same. Buying


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


for your network. Definitely go SIM only where you


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


of the bigger networks. There are some smaller networks,


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


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


for new group deals. This is


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


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


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


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


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


market online and through major Now time for some other personal


finance stories. Customers with complaints about their gas or


electricity service typically have to contact their supplier six times


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


half of consumers who complained, were not satisfied with the


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


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


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


suppliers demanding they all do motor insurance industry, the


Competition and Markets Authority said that current practices are


restricting competition and leading to higher premiums for customers.


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


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


from offering cheaper prices criticised insurers for turning down


some claims from holidaymakers who had been drinking alcohol before


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


financial services company and a customer cannot agree ` said it


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


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


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


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


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


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


Businesses like the trucking firm Eddie Stobard to mens toiletery


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


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


a viable alternative to some of the more conventional methods of


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


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


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


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


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


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


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


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


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


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


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


protected by a compensation scheme which does not apply for these


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


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


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


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


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


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


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


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


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


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


scheme. This is good for people who are not


hugely dependent on that interest and having that money back because


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


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


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


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


warplanes are expected to launch against Islamic State targets this


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


other Islamist groups in central Syria for the first time.


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