Rocio Concha, Which? Director of Policy and Advocacy said: “It is positive to hear that the FCA stands ready to bring Buy Now Pay Later (BNPL) firms into regulation within 12 months, after the Treasury was reported to be considering shelving its plans to do so. “BNPL options appear at many online checkouts, but Which? […]
Sam Richardson, Deputy Editor of Which? Money, said: “Many people with mortgages will be deeply concerned by average five-year fixed-rate mortgage deals topping six per cent, so the regulator must make sure banks are fulfilling their responsibilities to help people who may be struggling to keep up with payments. “The first thing these borrowers should […]
Rocio Concha, Which? Director of Policy and Advocacy, said: “It’s extremely concerning to hear that some insurers are breaking the regulator’s rules when it comes to treating customers, including vulnerable ones, fairly. “Yet while concerning, these findings aren’t particularly surprising. Recent Which? research found that one in three home insurance customers were forced to chase […]
Ele Clark, Which? Money Senior Editor, said: “This further rate rise could help to curb inflation, but it will also push up housing costs for millions of people across the country. “Mortgage holders coming to the end of their fixed term, and those on tracker or standard variable rates, will be most affected by higher […]
More than half (52%) of disabled bank customers say that bank branch closures have had a negative impact on their ability to access vital banking services, amid widespread closures by high street firms, a Which? survey has found. The consumer champion surveyed over 2,700 bank customers with disabilities and found some face major obstacles when […]
Holidaymakers continue to pay over the odds or face being priced out of travelling altogether because the travel insurance market is not working for people with medical conditions and older travellers, Which? has found. A Which? survey of just over 4,000 people who took out an annual travel insurance policy in the past two years […]
Meagre savings rates offered by high street banks are shortchanging customers by hundreds of pounds every year compared to deals from challenger banks, Which? analysis of rates stretching back three years has found. The consumer champion’s in-depth research looked at six types of accounts: instant access savings accounts and Isas; one-year fixed-rate savings accounts and […]
One in three (30%) home insurance customers who have made at least one claim in the last two years are being forced to chase their provider in order to progress their claim amid concerns over poor customer service standards, according to Which? research. The consumer champion also found three in 10 (29%) customers felt that […]
Rocio Concha, Which? Director of Policy and Advocacy, said: “Which? supports a financial services sector that is competitive and boosts economic growth. We are also in favour of dropping overburdensome regulations that don’t work for consumers or businesses. “But any reforms must not happen at the expense of weakened consumer protections. Which? is concerned that […]
Rocio Concha, Which? Director of Policy and Advocacy, said: “While it’s good to see the regulator clamping down on misleading financial investments online, there is more they and the government can do to protect consumers, including by opening up their data of known rogue sites to ensure platforms can easily detect known bad actors. “Which?’s […]