HSBC has announced today that it will be increasing wholesale rates for its residential and buy-to-let mortgage products. Customers can expect to see changes in rates across the board.
In addition to this news, here are some other stories in the world of consumer and personal finance that you may have missed:
– HMRC has confirmed that a glitch that caused 500,000 families to not receive their scheduled child benefit payments has been fixed. The affected families can expect to receive their payments on Wednesday morning, two days after they were due.
– Have you ever wondered about your rights when deliveries or returns don’t arrive? It’s important to know what you are entitled to and what actions you can take. And contrary to popular belief, leaving delivery instructions may actually jeopardise your rights.
– If you have any questions or comments about any of these stories, feel free to leave them in the comments box below. Please note that you will need to have javascript enabled to use this form.
In other news, Royal Mail’s incoming owner, Czech billionaire Daniel Kretinsky, has refused to rule out future stamp price hikes. In an interview with The Times, Kretinsky hinted that there may be more increases to come in order to counteract the declining circulation of physical mail.
When questioned about the possibility of stamp price hikes, Kretinsky stated, “I can’t make unconditional commitments.” He went on to explain the financial reality of the postal service, saying, “If your circulation is 50% of what it was, you either need to go home, or you need to increase the unit price and hope that people will pay for it. Because if not, you are making losses.”
Kretinsky also commented on the recent acquisition of Royal Mail by his company, International Distribution Services. While many were shocked by the deal, Kretinsky assured that there are “contractual commitments” in place to protect the public service aspects of the postal service, such as its universal service obligation.
The businessman, also known as the “Czech Sphinx,” emphasized the importance of financial stability, stating, “You can be loss-making for a year or two, but you can’t be in a loss for 20 years. It’s simple maths. There’s no mystery to it.”
Since 2018, first class stamp prices have more than doubled from 67p to £1.35. It remains to be seen if there will be any further increases under Kretinsky’s leadership.
In the meantime, readers have expressed concern over the deal and its potential impact on the postal service. Royal Mail has reported losses of £1m a day in recent years, and some fear that the focus on profitability may come at the expense of quality service.
To learn more about Daniel Kretinsky and his acquisition of Royal Mail, read the full article below.
In other news, HMRC has announced that a major error that caused 500,000 families to not receive their scheduled child benefit payments has been resolved. In a post on X, HMRC stated that the affected families can expect to receive their payments on Wednesday morning, two days after they were due.
The issue, which affected almost a third of the scheduled payments, caused alarm among readers who rely on the payments to support their families. One reader, Susan1984, expressed her frustration, saying, “This has left not just me but so many more families with kids completely stuck for food and fuel this morning.”
Responding to the concerns, HMRC issued an apology and assured that they were working urgently to resolve the issue. They also clarified that the problem would not affect tomorrow’s scheduled payments.
Child benefit is typically paid every four weeks on a Monday or Tuesday, with rates of £25.60 for an eldest or only child and £16.95 for each additional child.
In case you missed it, here are some other stories in the world of consumer and personal finance:
– Have you ever wondered about your rights when deliveries or returns don’t arrive? It’s important to know what you are entitled to and what actions you can take. And contrary to popular belief, leaving delivery instructions may actually jeopardize your rights.
– If you have any questions or comments about any of these stories, please feel free to leave them in the comments box below. Please note that you will need to have javascript enabled to use this form.
