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Tag: home

Insurance: Millions of loyal customers ‘overpay on car and home cover’

Insurance: Millions of loyal customers ‘overpay on car and home cover’

Business
Failings in the market for home and car insurance mean consumers are overpaying by about £1.2bn year, the City regulator has concluded.In an interim report, the Financial Conduct Authority (FCA) estimates some six million consumers pay on average £200 too much on premiums.Competition was not working and loyal customers were penalised, it said.FCA action could include bans on automatic price rises and making firms move consumers to cheaper deals."This market is not working well for all consumers," said Christopher Woolard, executive director of strategy and competition at the FCA. "While a large number of people shop around, many loyal customers are not getting a good deal. We believe this affects around six million consumers."We have set out a package of
Bajaj Housing Finance reduces home loan interest rates

Bajaj Housing Finance reduces home loan interest rates

Finance
Bajaj Housing Finance announced Monday that it was reduced home loan interest rates. A press release issued by the non-banking housing finance company (NBFC) stated that it has cut interest rates on home loan up to Rs 30 lakh to 8.6 percent from 8.8 percent. The revised rates would be effective from now and would apply to all eligible customers. The press release also stated that those borrowers planning for a home loan balance transfer will get this reduced rate. Bajaj Housing Finance offers home loans for up to Rs 3.5 crore for borrowers purchasing their first house, constructing an own house or renovating the current house. The company also offers its customers a top-up loan of up to Rs 50 lakh, without any extra documentation, to finance key requirements like repairs and renovation. Le...
Sundaram BNP Paribas cuts interest rates on home loans

Sundaram BNP Paribas cuts interest rates on home loans

Finance
Chennai: Sundaram BNP Paribas Home Finance Monday announced a 10 basis points reduction in its prime lending rate on housing and non-housing loans with immediate effect. "The reduction in lending rates is in line with the current interest rate in the market," Sundaram BNP Paribas Home Finance, Managing Director, Srinivas Acharya said. "We are hopeful that the government's favourable proposals in the recent budget for the housing sector would improve the home buying sentiments and drive demand," he said in a company statement here. Acharya said the company did not face any liquidity related issues this year and was comfortably placed in terms of fund raising. "...we will continue to expand our presence in the affordable housing segment and newer areas," he added. Sundaram Home Finance poste...
Wayne Rooney: Derby County move ‘not just about coming home’

Wayne Rooney: Derby County move ‘not just about coming home’

Sports
Media playback is not supported on this device Ex-England captain Wayne Rooney says his move to Derby County is not "just about coming home", and he hopes to keep playing for as long as possible.The 33-year-old forward will join the Championship side from Washington-based DC United in January as a player-coach."The opportunity to come back here and play and take the next transition in my career was one factor," said Rooney, who has signed an 18-month deal. "I will keep playing until my body says I can't any more. I feel good."Rooney still had two seasons remaining on h...
Taking measures to protect home buyers, Centre tells SC

Taking measures to protect home buyers, Centre tells SC

Finance
New Delhi: Prodded by the Supreme Court to frame policy to protect the interests of homebuyers, the Centre on Thursday told the court it is taking steps to rescue real estate companies facing insolvency proceedings and holding consultations with various ministries to chalk out a plan. Appearing before a bench of Justices A M Khaneilkar and Dinesh Maheshwari, additional solicitor general Madhavi Divan informed that the government has introduced a bill in Parliament to amend Insolvency and Bankruptcy Code to smoothen the insolvency proceedings and the finance ministry will also be holding a meeting on Monday to take a decision on giving tax concessions to beleaguered real estate firms to lessen their liability. The Centre’s proposal intends to attract other companies to make a bid to take ov