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August 17, 2017
Daniel Lee

Plevin v Paragon: Why you could now be owed PPI compensation

Due to the Supreme Court’s decision in a PPI case called Plevin v Paragon and new rules from the Financial Conduct Authority (FCA), as of 29 August 2017 you could be entitled to compensation, even if you’ve previously had a claim rejected.

It is clear that the enormous commissions on offer to the banks proved far too tempting, leading to a culture of mis-selling that created the whole PPI scandal. Of course the banks didn’t want customers to know that an average of 67% of a PPI policy was pure commission to the bank, so they simply chose not to tell customers this information, for obvious reasons.

Given the end of August is just around the corner, we’re here to tell you all about the Plevin v Paragon case, how you could be owed compensation, and how to go about claiming it.

What is the Plevin v Paragon case?

Susan Plevin is a 59-year-old college lecturer who took out a loan of £34,000 from the lender Paragon Personal Finance to pay off her debts and make some home improvements. On top of this she was coerced into taking out a PPI policy over five years from Norwich Union, at an upfront cost of £5,780.

However, the PPI policy that Norwich Union was selling was only worth £1,630 with the remaining £4,150 being kept by Paragon and the broker who recommended Paragon to Mrs Plevin, by way of commission.

Mrs Plevin took Paragon Personal Finance to court to make the case that she was mis-sold PPI as Paragon chose not to divulge how much commission they were making as a result of the sale of the PPI policy. Mrs Plevin argued that had she known that such a large amount of what she was paying was pure commission she would not have decided to have taken the PPI policy.

This case was presented to the Supreme Court in June 2014 and in November of that year the judge confirmed that Mrs Plevin was treated unfairly by Paragon and they did mis-sell PPI.

What effect has the Plevin v Paragon case had on PPI claims?

Because of the Supreme Court ruling that Paragon mis-sold PPI to Mrs Plevin and treated her unfairly, the Financial Conduct Authority (FCA) introduced additional rules and guidance with PPI compensation. This was finalised in their policy statement on 2 March 2017 and the new rules and guidance will come into effect on 29 August 2017.

These new rules are:

  • If over 50% of your PPI went as commission to the lender without your knowledge you are owed compensation.
  • Lenders will have to inform people who’ve had past claims rejected or who have a mis-selling claim currently in progress about the new Plevin rules by the end of November 2017.

Here at Your Money Claim, we feel that the 50% benchmark for commission compensation is still unfair and we will continue to fight this through the courts.

Here’s what the FCA have said about the Plevin V Paragon case:

“The Plevin decision introduced a significant new uncertainty into an already uncertain landscape, where the long tail of PPI complaints looked set to continue. So, we have used our regulatory judgement to create a framework that we believe will reduce uncertainty and enable firms to take a fair and consistent approach to handling PPI complaints. This will help ensure the best outcomes for consumers at the earliest stage in the complaint process, and will make it easier for us to act if we become concerned that firms are not handling complaints appropriately”.

Next steps

If you’ve already had a successful claim then unfortunately you won’t be able to claim again via Plevin. But, even if you’ve been rejected previously, you may still have a claim because lenders could have taken large amounts of commission without telling you, so it’s worth trying again.

We can help you get back the money you’re owed, so claim now for stress-free compensation.

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September 1, 2017
Daniel Lee

What a Successful PPI Compensation Award Could Get You

 

Summer is here and the holiday season is in full swing. If you haven’t got your holiday booked, then we recommend filling out one of our claim forms to see if you’re entitled to PPI compensation – our average successful customer compensation award is £3,332**, which will most certainly get you a holiday, or two!

If you have got your holiday booked, have you got all the essentials packed? Sun cream, swimwear and sunglasses? What about tea bags, your favourite pet picture and ketchup?

These may sound like odd items to squeeze in your suitcase but not according to a new poll by Jet2Villas, who found out the top 10 home comforts Brits take on holiday.

So, we’ve decided to conduct our own research. How many home comforts can you get with our average successful customer compensation award of £3,332**?

We want to demonstrate just how much money there is available to you. Billions have been set aside for compensation whilst millions are entitled to compensation. Here, we’ll show you just how much you can get with the average amount of compensation.

1.Tea bags

It’s no surprise that tea bags are number one on the list of home comforts Brits take with them when going abroad, with Yorkshire tea bags being the brand of choice.

Using My Supermarket.co.uk, we found that Pound Stretcher has the cheapest box at £4.19 for 240 tea bags.

So, you could have enough cash to purchase 190,400 tea bags, which means 190,400 cups of tea.

Here in the UK, we drink an average of three and a half cups a day, so that would mean you could have the daily average of tea for the next 149 years. That’s more than enough for a lifetime personal supply, plus some extras for your nearest and dearest.

2. Slippers

 

Slippers come in second on the list of home comforts we take with us on holiday.

The Independent have listed the 13 best women’s slippers. By adding up the price of each entry, the average cost for a pair of slippers came out at £28.

Therefore, PPI compensation could get you an incredible 119 pairs of slippers – that’s a lot of Christmas presents sorted.

3. Ketchup

 

In third place, you have the British staple: Ketchup. According to My Supermarket, a classic 342g bottle of Heinz Tomato ketchup is £1.00 from Pound Stretcher. This means your PPI compensation could get you 3,332 bottles of ketchup. That’s one a month for 23 years!

4. Pillow

At number four, we have the pillow! If you do have a claim and receive £3,332, you don’t want to take any old pillow on holiday. You want the best. We turned to The Independent to find the 11 best pillows on the market.

The average cost of one of these pillows is £42. With our average PPI compensation, you would have enough cash for 79 pillows!

In one double bed, typically you would have four pillows, which means £3,332 would get you enough comfy pillows for 20 beds!

5. Dressing gown

In fifth place, it’s the dressing gown. Again, we looked to The Independent, who have rounded up the eight best women’s dressing gowns on the market with the average cost coming out at £90.

Your PPI winnings could get you 37 dressing gowns. That’s enough to treat yourself to a new dressing gown every year for 37 years!

6. HP Sauce

At number six, it’s HP sauce. According to My Supermarket a bottle of 255g original HP sauce costs £1.25.

With £3,332, that’s an incredible 2,666 bottles up for grabs, which is one a month for 18 and a half years!

7. Marmite

In seventh place, you have another British classic – Marmite. My Supermarket tells us that a 125g jar of marmite costs £1.70.

With £3,332 in your pocket, you could get 1,960 jars. That’s one a month for 13.5 years!

8. Own cutlery

At number eight, we have a strange one – Cutlery! A few years ago, Ikea over took John Lewis as Britain’s favourite shop. So, we looked at the average price of a 24-piece cutlery set from Ikea, which came out at £22.30.

£3,332 can get you 149 24-piece-sets! But, to be more specific, that’s 894 knives, 894 forks, 894 spoons and 894 teaspoons! What more do you want?

9. Favourite china

Again, we headed over to Ikea to get our price for number nine. Ikea’s china cup and saucer is £7, which means 476 cups and saucers are on offer for £3,332, which is perfect for the 190,400 tea bags you can get!

10. A photo of a pet

Finally, at number 10, there’s a photo of a pet. Photobox offer a 15x20cm print in a frame for £10. So, with your compensation, you could get 333 frames of your pet! They may take up your whole suitcase, but at least you will have plenty of cute pictures of your pooch to make you feel at home.

 

So, based on a compensation award of £3,332, you could have one of the following:

  • Three and a half cups of tea a day for the next 149 years
  • 119 pairs of slippers
  • One bottle of ketchup a month for the next 23 years
  • 79 pillows
  • A new dressing gown every year for 37 years
  • One bottle of HP sauce a month for 18 and a half years
  • One jar of marmite a month for 13 and a half years
  • 149 24 piece sets of cutlery
  • 476 china cups and saucers
  • 333 photo frames of your pet

Now, surely that’s worth filling out a PPI Claim form, right?

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August 3, 2017
Daniel Lee

7 Ways to Survive Being on Hold

“Thank you for calling. Our operators are currently busy at the moment. Please hold. Your call will be answered shortly”. These words are sure to send a shiver down anyone’s spine. Inevitably, these sentences are followed by some inoffensive music – either soft jazz or a singer encouraging you to ‘let the sun shine’.

The phrase “you are currently 16th in our queue” also has the same outcome. Yes, welcome to being put on hold: an action that can send even the most patient saint into a state of mild insanity as they hear ‘Galway Girl’ for the 97th time.

In fact, it’s estimated that the average person will spend 1.2 years on hold throughout their lifetime. Fortunately, however, there are ways to survive being put on hold, especially when you resign yourself to the fact that you could be waiting for hours.

So, why should you just have to sit there and wait, silently plotting the downfall of Ed Sheeran? Surely there are more productive and even stress-reducing things that you can do to pass the time?

Simply pick a method from our list below and never fear being put on hold again…

Learn a new language

What could be more productive while on hold than learning a new language? It’s both something to add to your CV and help with deciding where to next go on holiday.

But which language should you learn first? According to the Foreign Service Institute, Afrikaans, Danish and French are the three easiest (and therefore quickest) languages for English speakers to learn.

You might want to stay clear of Japanese though, as this is apparently the most difficult language to learn and takes approximately 88 weeks. Although, if you feel that you are going to be on hold for 2200 hours, then why not start with ‘Kon’nichiwa’ and see how much you can learn before an operator picks up the phone?

Solve a famous riddle

For some people, problem solving is just as infuriating as being put on hold – why do you think we haven’t included ‘complete a Rubix cube’ on this list? But for others, solving a maths problem, completing a crossword or attempting a Sudoku puzzle brings a welcome distraction.

And while there are many head-scratching riddles out there, we thought we’d include one that we’re confident can’t be solved in a matter of seconds. The below riddle was created by one of the smartest men to have ever lived: Albert Einstein. And, it was alleged that he came up with it as a child.

Einstein also once famously declared that only 2% of the population would be able to solve it – although some argue that he meant only 2% could work out the answer in their head and that most people would have to work it out on paper.

We reckon that once you’ve figured this riddle out, you’d have jumped from 16th in the queue to number one.

The situation

There are five houses, with five occupants, each with a different colour house, different beverage of choice, different favourite brand of cigarette and a unique pet.

The question is: Who owns the fish?

Hints

  • The Englishman lives in the red house
  • The Swede keeps dogs
  • The Dane drinks tea
  • The green house is just to the left of the white one
  • The owner of the green house drinks coffee
  • The Pall Mall smoker keeps birds
  • The owner of the yellow house smokes Dunhills
  • The man in the centre house drinks milk
  • The Norwegian lives in the first house
  • The Blend smoker has a neighbour who keeps cats
  • The man who smokes Blue Masters drinks bier
  • The man who keeps horses lives next to the Dunhill smoker
  • The German smokes Prince
  • The Norwegian lives next to the blue house
  • The Blend smoker has a neighbour who drinks water

If you’re stumped, scroll down to the bottom of our article for the answer.

Find your inner zen

If even just the thought of being put on hold makes your blood boil, then you can find ways to relax. And, what’s more stress-releasing than yoga? Whether you’re at your desk or at home you can quickly find your inner zen with a yoga practice.

Forget about the repetitive music, the fear that you might never actually get to speak to a human or how expensive your phone bill’s going to be if it’s a premium number. Instead, practise your downward dog, chaturanga or tree pose.

Some yoga styles such as Yin Yoga and Restorative Yoga encourage you to hold your yoga pose for three to five minutes at a time, or sometimes even longer – perfect for clearing your mind and passing the time. Just make sure that you can get out of your yoga pose once someone answers the phone – talking through your latest phone bill while still in a headstand is bound to be challenging.

Watch an episode of a new TV show

If the average amount of time someone spends on hold during their lifetime is 1.2 years, then we’ve put together some TV shows that you could binge on to pass the time – and how long it would take to watch all seasons back-to-back. Of course, we’re not saying that you’ll be on hold for days at a time, but why not fire up Netflix and start with an episode (or a whole season) while you wait?

Discover more about the song you’re on hold to

If you’re having to listen to the same playlist three times before someone answers the phone, then you might as well start researching the origin of the songs you’re listening to.

Allegedly, some misguided GP surgery decided to choose ‘Knockin’ on Heaven’s Door’ by Bob Dylan as their hold music, but did you know that it was originally written for the soundtrack to the 1973 film Pat Garrett and Billy the Kid? It’s also been covered by the likes of Eric Clapton (as a reggae version) and more famously by Guns N’ Roses, in which their studio version was used in the soundtrack to Days of Thunder.

However, chances are that you’ve been listening to a song called Opus No.1 when you’re on hold. You may have thought nothing of it, but did you know that it was first recorded in 1989 by Tim Carleton and Darrick Deel in their garage when they were teenagers? Years later and the song’s been heard by millions of people around the world and is arguably one of the most recognisable pieces of music to have never entered the Top 40. Do you recognise it?

Build something

If you prefer to pass the time by using your hands, rather than solving puzzles, then why not build something? After all, what better time is there to put together your flatpack furniture from Ikea? So, grab your tools and get building!

And who knows where the time will take you? Will you be on hold long enough to build a doll’s house, a conservatory, or maybe even a tree house? Plus, if you ever start worrying that you’re going to be on hold for years, then just remember that it took the ancient Egyptians 10-20 years to build the pyramids.

Make a cup of tea

If all else fails, go for the classic method. Yes, making a cup of tea is the British answer for surviving anything and everything. Feeling sad? Have a cup of tea. Facing an important life decision? Have a cup of tea. Bored of being on hold? Make a cup of tea.

 

Not able to complete something on this list first time around? Don’t worry – you’re bound to be on hold again at some point in life.

We think that it’s about time that people started seeing being put on hold as an opportunity to learn a new skill (there’s also juggling, fire breathing – the world’s your oyster). Plus, you might just be able to talk to your call operator in Afrikaans one day. So, do a little fist pump the next time you hear the phrase “Please hold” … or just go and stick the kettle on.

 

Riddle Answer: The German

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July 14, 2017
Daniel Lee

How to Deal with a Dodgy Builder

 

Dodgy builders. Also known as cowboys, rogue traders and often synonymous with taking their tea with two sugar as well as taking your cash without finishing the job. Recently, the Federation of Master Buildings declared that around £1.5 billion worth of work is undertaken by dodgy builders every year, with consumers who pay builders in cash losing the equivalent of £712,000 a day in botched work, which then must be repaired.

The Office of Fair Trading (OFT) say that they’re inundated with around 10,000 complaints each year about rogue traders. Of course, dodgy builders don’t advertise that they’re dishonest – and you may very well know someone who’s been taken for a ride.

Yes, sometimes it’s easier than you’d imagine to fall victim to the wolf in sheep’s clothing. Because of this, rogue traders often ruin things for perfectly trustworthy tradesmen. Luckily we’ve come up with our brief guide on dealing with these cowboys – from how to spot them to getting your money back after a job goes wrong.

How to Spot a Dodgy Builder

There are certain red flags that might indicate that the builder you’re talking to isn’t totally trustworthy. If you suspect that their way of working is different to that of a genuine business, then chances are that they’re not 100% legitimate. Here are some warning signs to be aware of:

  • Ask to be paid upfront – a reliable builder should only be paid once they’ve completed the job, or have done a reasonable amount of work to the agreed standard
  • Ask to be paid in cash – if a builder only accepts cash-in-hand payments, then they might be acting dishonestly by avoiding VAT
  • Unwilling to give you an exact timeframe or written estimate – this indicates that they’re not planning to stick to the time agreed or decided fees
  • Offer an unusually low quote – this could show their inexperience at being able to give accurate figures. Remember: if things are too good – or cheap – to be true, they probably are. Instead, find three separate quotes from different tradesman and compare
  • Unable or unwilling to provide references – if they’re unable to show good recommendations, then they’re probably not worth hiring
  • Eager to start work right away – dodgy builders often quickly complete lots of work in one area before moving on to somewhere else completely new, leaving unfinished or poor standards of work behind
  • Claim to be a trade association when this is not the case – always check that your builder is part of the trade association that they claim to be. Too many people take dodgy builders at their word

It’s also a major red flag if they insist on not drawing up a contract. “My word is my bond” just shouldn’t’ cut it in a situation like this. A contract acts as a legal binding and should clearly state your desired timeframe, agreed figure of payment and what you expect your contractor to do and not do. If a builder tries to skirt around drawing up a contract, then he’s obviously not planning to stick to whatever is stated within it.

Alarm bells should ring too if they just have a mobile number, an unbranded van and refuse to give you more details about their business. Without registered premises, a landline number or solid references, they can quite easily disappear should you need to chase them for money. Suddenly, you’ll have a phone operator declaring that the mobile number you are calling is ‘no longer available’.

Indeed, there are plenty of stories out there of a client and builder reaching only a verbal agreement over a renovation (we’re talking thousands of pounds), only then for the builder to disappear after receiving their deposit (around 25% of the overall amount). Unsurprisingly, the client is then unable to track them down.

How to Keep Yourself Covered

Although not wanting to draw up a contract is a red flag, it also helps in keeping you covered. Having everything in writing should help to protect you should any problems arise; a contract is your safety net in a business transaction of this nature.

Research is also key to keeping yourself covered. It’s worth looking at a builder’s past work if possible – were their past customers happy, and did they complete it to the standard, time and cost that they had agreed? The Ombudsman Service found that 57% of homeowners did not check credentials before commissioning work, leaving them with cracking, electrical and structural problems later down the line.

It’s well worth asking friends and family for recommendations and to find out if the builder in questions is part of a trade group. However, some dodgy builder firms have allegedly set up fake memberships to seem legitimate in that manner.

The most reputable tradesmen, though, should have the OFT Approved Code logo. This verifies that their business runs to higher standards than the law requires. You can look out for the Trustmark logo too. Alternatively, you can reach out to your local council, who should have a list of vetted, registered contractors in your area. Consumers can also find traders who have been inspected and approved by Which? on their website.

Of course, money is a vital factor in protecting yourself. Did you know that three-quarters of botched jobs are done cash-in-hand? While we’ve said that this is a red flag for spotting a cowboy builder, it’s also the easiest way that the builder can get away with things. All they have to do is fold the notes, put them in their pocket, drive off in their van, and there’s no record of the exchange of money between you two if things later end up in court. Only ever pay for work that’s been completed and to the standard that you’d agreed beforehand, in writing.

It’s also important to keep copies of any correspondence between you and your builder, both leading up to the deal and during any work. Communication such as emails and text messages all act as evidence should your builder vanish into thin air halfway through the job.

Can you get your money back?

This is the burning question that people ask when their cowboy walks off into the sunset with their money and leaves their property in disarray. So, what should you do?

Firstly, you should contact the police. These dodgy builders have technically committed fraud, so you should report them to the authorities with as much information as you possibly can. Recently, a cowboy builder father and son were ordered to pay back more than £2000,000 to their victims after being reported to the police.

Trading Standards also take a very strong stance against dodgy builders, so make sure that you report your rogue trader to them as well – they may be able to help negotiate a settlement or help mediate a solution. In fact, a recent investigation by Trading Standards helped in the prosecution of a rogue trader, who took £2,200 from a homeowner only to leave her bungalow with multiple construction faults. The rogue trader has now been fined £1,000 and ordered to pay £2,840 compensation and £500 costs.

On the condition that you can track your cowboy builder down, you can take them to the small claims court if they refuse to refund any money. If this seems like a costly option, then fear not: the small claims court can cover a small job (up to £10,000) and it won’t cost you much to take this approach.

If possible, you should try and put the job on a credit card in the first place (if the job costs between £100 and £30,000). This means that you can get your money back under the Consumer Credit Act should something go wrong. Alternatively, Citizens Advice can help with claiming your money back.

However, it’s vital to follow our steps before hiring a builder as it’ll make your chances of getting a refund much higher – and ensure that you don’t get ripped off in the first place. In fact, the Home Improvement Guarantee Scheme (HIG) now exists to prevent customers losing money. The funds are placed in an independent account to keep the consumer’s money safe against a dodgy builder and shoddy work. Once the work has been completed and the customer is 100% happy with the level of work, the final payment is released.

So, do your research, draw up a contract, keep a paper trail, look out for any other red flags and never, ever pay upfront or in cash.

 

Of course, if you have suspicions about a builder, then you can always change your mind. There are plenty of honourable and talented tradesmen out there, so don’t hesitate to find a builder that you can fully trust. You can then rest easy knowing that your property (and money) are in safe, reliable hands.

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June 12, 2017
Daniel Lee

How to claim train delay and cancellation compensation

Claiming compensation for those extremely annoying delays or cancellations can seem like a chore and lots of people don’t bother. In fact, two-thirds of passengers don’t claim for their train delays. That’s a lot of money people are missing out on.

Trust us, it’s worth making those claims. Andy Young travels from his home in Hertfordshire to London’s City Thameslink every day and he makes between £230 and £330 each year in compensation. Similarly, Tom Burridge claimed over £1k compensation in train vouchers:

Multiple train delay compensation vouchers

Our guide to claiming train delay and cancellation compensation

  1. Make a note of the delayed or cancelled train details:
    • If delayed, how many minutes was it delayed
    • The journey date
    • The reason it was delayed or cancelled (if it was announced)
    • The train company in question
    • The station you were travelling to and from
    • What type of ticket you had (single, return, season ticket etc.)
    • Finally, hold on to your train tickets or booking reference as you’ll need them as proof

If you don’t remember the length of the delay, then take a look at the Recent Train Times website. You just need to add in the train stations you were travelling between and the dates and it will tell you the actual arrival times.

 

  1. Most train companies have a time limit of 28 days from the delayed or cancelled journey so apply as soon as you can.

 

  1. Use our table below to get the link to the relevant delay repay page. Or, visit National Rail’s list of train companies.

 

  1. Once you’ve navigated your way to the compensation form, fill out the details you made a note of and upload your train tickets. You can apply for compensation via post, the delay repay page should contain the postage address you’ll need to send the compensation form to.

 

  1. You’ll be asked how you wish to be compensated. Most train companies will offer repayment by cheque, bank transfer or travel vouchers.

 

It’s important to note that each train company has a slightly different repay policy. And so you don’t have to trawl through their website looking for it, we’ve created a go-to list of minimum delay times in order for you to receive compensation, the amount you could be refunded for a single journey and links to each company’s delay repay page.

Don’t let the train companies hold on to your compensation. Follow our guide, use the links below and get back your cash!

Link to train company’s delay repay page Minimum delay time for compensation Amount you could be refunded on a single journey
Arriva 30 minutes Delayed 30-59 mins? 50% of ticket price. More than 60 mins? 100%.
C2C 30 minutes Delayed 30-59 mins? 50% of ticket price. More than 60 mins? 100%.
Caledonian Sleeper 30 minutes Delayed 30-59 mins? 50% of ticket price. More than 60 mins? 100%.
Chiltern Railways 30 minutes Delayed 30-59 mins? 50% of ticket price. More than 60 mins? 100%.
Cross Country 30 minutes Delayed 30-59 mins? 50% of ticket price. More than 60 mins? 100%.
East Midlands Trains 30 minutes Delayed 30-59 mins? 50% of ticket price. More than 60 mins? 100%.
Gatwick Express 15 minutes Delayed 15-29 mins? 25% of the ticket price. Delayed 30-59 mins? 50% of the ticket price. Delayed 60-119 mins? 100%.
Grand Central 60 minutes Delayed 60-120 mins? 50% of the fare back. 120-180 mins? 75% back. More than 180 mins? 100%.
Great Northern 15 minutes Delayed 15-29 mins? 25% of the ticket price. Delayed 30-59 mins? 50% of the ticket price. Delayed 60-119 mins? 100%.
Great Western Railway – High Speed 60 minutes Delayed 60-119 mins? 100% of the fare back.
Great Western Railway – London & Thames Valley 30 minutes You get 50% of the fare back if you’re delayed by more than 30 minutes (on journeys of less than an hour) or if you’re delayed by an hour or more (if your journey is an hour or more).
Great Western Railway – South Coast 60 minutes Delayed 60-119 mins? You’ll get 50% of the fare back. More than 120 mins? 100%.
Greater Anglia 30 minutes Delayed 30-59 mins? 50% of ticket price. More than 60 mins? 100%.
Hull Trains 30 minutes Delayed 30-59 mins? 50% of ticket price. More than 60 mins? 100%.
London Midland 30 minutes Delayed 30-59 mins? 50% of ticket price. More than 60 mins? 100%.
Merseyrail 30 minutes Delayed more than 30 mins? 100% of your fare back.
Northern 30 minutes Delayed 30-59 mins? 50% of your fare back or one free single ticket to anywhere on the network. 60+ mins? You’ll get 100% back or two single tickets.
ScotRail 30 minutes Delayed 30-59 mins? 50% of ticket price. More than 60 mins? 100%.
South West Trains 60 minutes Delayed more than 60 mins? 100% of your fare back.
Southeastern 30 minutes Delayed 30-59 mins? 50% of ticket price. More than 60 mins? 100%.
Southern 15 minutes Delayed 15-29 mins? 25% of the fare. 30-59 mins? 50% of the fare paid. More than 60 mins? 100%.
Stansted Express 30 minutes Delayed 30-59 mins? 50% of ticket price. More than 60 mins? 100%.
Transport for London 30 minutes Delayed more than 30 mins? You’ll get a refund for a single journey. More than 60 minutes? 50% of the fare (if higher than the single journey refund).
ThamesLink 15 minutes Delayed 15-29 mins? 25% of the ticket price. Delayed 30-59 mins? 50% of the ticket price. Delayed 60-119 mins? 100%.
Transpennine Express 30 minutes Delayed 30-59 mins? 50% of ticket price. More than 60 mins? 100%.
Virgin Trains 30 minutes Delayed 30-59 mins? 50% of ticket price. More than 60 mins? 100%.
Virgin Trains East Coast 30 minutes Delayed 30-59 mins? 50% of ticket price. More than 60 mins? 100%.
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June 22, 2017
Daniel Lee

The Letting Agent Fees Ban: What’s happening?

 

Back in November the country’s Chancellor, Phillip Hammond, conducted the last ever Autumn Statement. Covering a broad range of subjects, one particular suggestion pricked the ears of tenants all over the country: a ban on letting agent fees.

Tenants are all too aware of the huge costs letting agents charge. Credit checks, contract fees, check in fees, check out fees, and many others with vague titles. You can even get charged over £100 for a contract to be renewed, a process involving pressing print, a stapler, and a pen.

So, when is the letting agent fee ban coming into effect?

Not just yet. First, the Government needs to conduct a consultation. This was announced to take place in March/April of this year. Then in February, they released a housing a white paper which again mentioned a ban on fees.

Eventually the consultation was opened on 7th April. It’s currently still open and will close on the 2 June 2017. You can respond yourself here. Along with talking to tenants, the consultation will also include talks with landlords, Citizens Advice, and the Which? consumer group.

Based off this the Government will make its decisions, with landlords hoping the idea will be scrapped and tenants hoping the endless rip off charges will be culled. Although there’s been some concern among renters that the snap election could mean the ban will be forgotten (or quietly buried) after June 8th.

Meanwhile the landlords have asked for the consultation period to be extended. They say it should take place after the election and have sent a letter to the government about it. They claim that because of the election the ban will become a manifesto pledge, which means the consultation may break the purdah rules – purdah being the time between an election announcement and the election where the government cannot announce new laws.

Nevertheless, the Tories have included the ban in their manifesto, saying that they will “shortly ban letting agent fees.” There’s no further details beyond that, but it seems a ban is becoming an inevitability, especially as the Liberal Democrats and Labour have committed to it as well.

So it looks like good news for current and future tenants. Let’s just hope the ban comes in sooner rather than later.

In the meantime, if you’re faced with massive fees before the ban, there are some options. First, if possible, try to rent from landlords directly as they’re unlikely to charge these kinds of fees. Websites like Gumtree, Loot, and Spare Room can be a good place to start. Post on your Facebook and Twitter too in case a friend knows of a place going.

It’s also worth trying to negotiate with the letting agent. If you’re lucky they might let you off some fees. In the end though, if they want to charge them, they will.

Update

Since this piece went live the Conservatives have announced a bill that will ban letting agent fees. At the moment they still need to get their Queen’s Speech passed, but if they do so, then the letting agents fee bill will most certainly pass as all parties support it. There’s no timetable as of yet, especially considering the very fluid nature of UK politics at the moment.

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