Drivers lie over claims to insurance companies
Millions of British motorists would lie to insurance providers to avoid jeopardising their claim, a new survey suggests.The study by Moneysupermarket found that 2.5 million drivers in the UK would bend the truth to ensure they received a payout.When asked what they would do if they had failed to lock their car properly leading to it being stolen, 26 per cent of motorists said they would resist telling the truth until their conscience caught up with them.Only 18 per cent of motorists said they would give the full facts without being pressed, while 41 per cent would own up to their carelessness if asked. "It's extremely worrying that one in three drivers would actively attempt a cover-up if their carelessness led to a claim," Richard Mason, managing director of insurance at moneysupermarket, said."People may not see the omission of certain facts as fraud, but if these facts helped lead to the claim then thatÃ¢â‚¬â„¢s exactly what it is. "We would urge all drivers to tell the full truth; insurance fraud is a criminal offence and the overall consequences could be far more costly than the sums they are trying to salvage by being economical with the truth."Insurers are often seen as the bad guys, but there are two sides to any relationship and drivers need to own up to their mistakes," he added.It seems that the Welsh are most honest when it comes to revealing the truth, with a quarter saying they would have no problems admitting the true sequence of events.
Equities recommended over property
Equities are superior to property as a long-term investment, according to a new study.A report from Skandia revealed that £30,000 invested in 1983 in UK shares would be worth upwards of £545,000 today.However, a house bought at the same time 25 years ago, when the average price was £30,000, would now only be worth £174,000.This put the growth rate of shares at 1718 per cent, compared to just 4...Read More
Negative equity to hit 2 million by 2010
The housing crash in the UK is set to see literally millions of home owners plunged into negative equity over the next years with the figure expected to peak at 2 million in 2010. Figures released by a number of charities have confirmed that in excess of 60,000 homeowners are moving into negative equity each month a figure which has frightening repercussions for the mortgage default numbers.
New service allows payments via mobile number
03/04/2014 Account holders will now be able to pay both friends and traders using only their mobile phone numbers from 29th April, it has been announced. The Payments Council has confirmed that consumers will no longer need to exchange bank details, so long as both parties have registered for the free service. Advance registration for Paym – pronounced “Pay Em” – opens from Wedne...Read More
Is the house building sector back in favour?
News that Hugh Osmond, one of the UK's best-known businessmen, has made a takeover offer for UK housebuilder Crest Nicholson has certainly caught the attention of investors in the UK. It is believed on offer in the region of £300 million to £350 million was tabled last week and a response is awaited from the company. There have been rumours for some time that Hugh Osmond has been looking at vari...Read More
When will the UK banking bailout be over?
The revelation that between Lloyds bank and Royal Bank of Scotland, an additional £50 billion has this week been invested on behalf of taxpayers has caught many by surprise. The ongoing UK banking bailout seems never-ending and despite the fact that the government would like taxpayers to believe this is an attractive investment in the medium to longer term, doubts are starting to grow.