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| Sale and rent back crack down | Sale and rent back crack down |
| (40 minutes later) | |
| BBC Radio 4's Money BoxSaturday, 7 February 2009at 1204 BSTOn Radio 4 and Online href="http://www.bbc.co.uk/mediaselector/check/player/nol/newsid_7870000/newsid_7876700?redirect=7876713.stm&news=1&bbwm=1&nbram=1&nbwm=1&bbram=1" onclick="javascript:newsi.utils.av.launch({el:this});return false;">7 February 2009 | |
| The Treasury is launching a consultation on the regulation of sale and rent back companies. | The Treasury is launching a consultation on the regulation of sale and rent back companies. |
| The companies market schemes as a way for struggling homeowners to stay in their homes by buying their property and leasing it back to them. | The companies market schemes as a way for struggling homeowners to stay in their homes by buying their property and leasing it back to them. |
| But consumer groups have criticised the schemes following reports that some people who have sold their houses in this way have been thrown out by the new landlord while others have been charged extortionate rents. | But consumer groups have criticised the schemes following reports that some people who have sold their houses in this way have been thrown out by the new landlord while others have been charged extortionate rents. |
| Earlier this week the Office of Fair Trading launched a crackdown sale and rent back companies, asking 16 of the businesses to justify their advertising claims or face prosecution. | Earlier this week the Office of Fair Trading launched a crackdown sale and rent back companies, asking 16 of the businesses to justify their advertising claims or face prosecution. |
| Ian Pearson, Economic Secretary to the Treasury Minister outlines the government's proposals. | Ian Pearson, Economic Secretary to the Treasury Minister outlines the government's proposals. |
| Then Adam Sampson, chief executive of the housing charity Shelter, and Chris Norris from the National Landlords Association debate the issues around the industry. | Then Adam Sampson, chief executive of the housing charity Shelter, and Chris Norris from the National Landlords Association debate the issues around the industry. |
| Sale and rent back crack down | |
| Further information/related stories: | Further information/related stories: |
| Sale and rent family's home angerWatchdog to probe rent back firmsWarning over sale and rent plansRent back deals 'need firm rules'External internet links | Sale and rent family's home angerWatchdog to probe rent back firmsWarning over sale and rent plansRent back deals 'need firm rules'External internet links |
| Like finger prints and iris scans, our voices are not easy to copyVoice recognition | Like finger prints and iris scans, our voices are not easy to copyVoice recognition |
| Pins and passwords are the common way of protecting telephone banking customers details but some fraudsters are still managing to trick people into revealing these sensitive details. | Pins and passwords are the common way of protecting telephone banking customers details but some fraudsters are still managing to trick people into revealing these sensitive details. |
| Now we may soon be offered a new - potentially more secure - way to identify ourselves to banks using a system called "voice biometrics." | Now we may soon be offered a new - potentially more secure - way to identify ourselves to banks using a system called "voice biometrics." |
| This attempts to match up your voice with a sample you have already given to prove you are who you say you are when you call to make a transaction. | This attempts to match up your voice with a sample you have already given to prove you are who you say you are when you call to make a transaction. |
| The system has already been adopted in Australia so will it catch on here? | The system has already been adopted in Australia so will it catch on here? |
| Bob Howard reports. | Bob Howard reports. |
| Voice recognition | |
| Further information/related stories: | Further information/related stories: |
| Voice biometrics for UK banking?Identity fraud hits net telephonyMore lie detectors to curb fraudLie detector software saves £500kSeptember 2007: How do telephone lie detectors work?External internet links | Voice biometrics for UK banking?Identity fraud hits net telephonyMore lie detectors to curb fraudLie detector software saves £500kSeptember 2007: How do telephone lie detectors work?External internet links |
| People with fixed mortgage rates may be kicking themselves nowInterest rates drop again | People with fixed mortgage rates may be kicking themselves nowInterest rates drop again |
| This week the Bank of England's rate setting committee lowered interest rates by 0.5% in a move which takes the base rate to a record low of 1%. | This week the Bank of England's rate setting committee lowered interest rates by 0.5% in a move which takes the base rate to a record low of 1%. |
| So what does the historically low base rate mean for savers and borrowers? | So what does the historically low base rate mean for savers and borrowers? |
| But rates should be left on hold to protect savers according to the Building Societies Association (BSA). | But rates should be left on hold to protect savers according to the Building Societies Association (BSA). |
| We are joined by Adrian Coles, director general of the BSA, and Ray Boulger from mortgage brokers John Charcol. | We are joined by Adrian Coles, director general of the BSA, and Ray Boulger from mortgage brokers John Charcol. |
| While savers are suffering, those with mortgages are mostly feeling the benefit - and one group in particular is spectacularly better off. | While savers are suffering, those with mortgages are mostly feeling the benefit - and one group in particular is spectacularly better off. |
| People with tracker mortgages that follow the bank's interest rate where there is no limit with a so-called collar may have their monthly payments cut to practically zero. | People with tracker mortgages that follow the bank's interest rate where there is no limit with a so-called collar may have their monthly payments cut to practically zero. |
| Interest rates drop again | |
| Further information/related stories: | Further information/related stories: |
| UK reduces interest rates to 1%Banks react to interest rate cut'Not much point' in cutting ratesExternal internet links | UK reduces interest rates to 1%Banks react to interest rate cut'Not much point' in cutting ratesExternal internet links |
| The first £6,000 (£10,000 if you are in a care home) of savings is ignoredInterest rates and pension credit | The first £6,000 (£10,000 if you are in a care home) of savings is ignoredInterest rates and pension credit |
| More than half a million pensioners also lose out from the fall in savings rates. | More than half a million pensioners also lose out from the fall in savings rates. |
| Pension credit is means tested and the calculation currently assumes pensioners receive 10% interest on their nest eggs. | Pension credit is means tested and the calculation currently assumes pensioners receive 10% interest on their nest eggs. |
| There are calls for this assumption to be updated in the light of the recent falls in savings rates. | There are calls for this assumption to be updated in the light of the recent falls in savings rates. |
| Sally West of Age Concern gives us her view. | Sally West of Age Concern gives us her view. |
| Interest rates and pension credit | |
| Further information/related stories: | Further information/related stories: |
| Charity calls for savings changesPensioners' lost millionsAsk the Pensions ExpertOctober 2007: Poor pensioners 'wary of credits'External internet links | Charity calls for savings changesPensioners' lost millionsAsk the Pensions ExpertOctober 2007: Poor pensioners 'wary of credits'External internet links |
| BBC Radio 4's Money Box was broadcast on Saturday, 7 February 2009 at 1204 GMT. | BBC Radio 4's Money Box was broadcast on Saturday, 7 February 2009 at 1204 GMT. |
| The programme will be repeated on Sunday 8 February 2009 at 2102 GMT. | The programme will be repeated on Sunday 8 February 2009 at 2102 GMT. |