Latest news with #RhydianJones
Daily Mirror
05-08-2025
- Automotive
- Daily Mirror
Drivers with these number plates on their vehicles could be owed £950 payment
The Financial Conduct Authority is expected to pay out billions of pounds in compensation over a mis-selling scandal in car finance deals - but it's not just those who took out finance going forward that could be affected Millions of motorists could be in line for compensation payouts over car finance deals. Those who purchased vehicles on finance between 2007 and 2021 could be affected. This means they could have number plates ranging from 07/57 up to 21/71. Compensation payouts could be worth up to £950, experts predict. Drivers with cars bought before those dates are being urged to check details of their finance agreements now. It relates to customers being mis-sold commission in car finance deals. The Financial Conduct Authority has confirmed it would begin a compensation programme, and payouts could come next year. In other related news, anyone buying fuel next week given '£15 charge' warning by The AA. Payments are likely to be lower than originally hoped, however it's estimated around 40% of Brits who entered personal contact purchase or hire purchase agreements between 2007 and 2021 may get money, reports Birmingham Live. While most people are advised to wait for now, drivers should lodge a complaint with your bank or finance firm if you believe you've been treated unfairly. Money Saving Expert has launched a tool and support guide to help motorists check here. Imran Malek, corporate sales manager at said: "This is set to be one of the biggest consumer payouts in UK history, but drivers need to be smart. Don't waste money on claims firms who'll take a hefty slice – the FCA has been clear that compensation will be free. Instead, start gathering any paperwork from old finance deals now." He added: "And while you can log a complaint with your lender today if you want to, many cases may be paused until the FCA scheme begins. While most payments won't be life‐changing – usually a few hundred pounds – they're sums people are entitled to, and across millions of drivers it adds up to billions. Taking a few simple steps now means you'll be ready when the scheme opens. " Rhydian Jones, a motoring expert at said: "The scale of this issue is worrying, and it shows what can happen when people aren't given clear, upfront information about the cost of borrowing." "Although some might have hoped for more, the FCA suggests most compensation will likely be under £950. This could still help ease financial pressure." He explained: "We encourage anyone with past or current finance agreements to check the terms and seek advice if anything feels off. Drivers deserve clear and honest support when navigating their finances and big life decisions."
Daily Mirror
10-07-2025
- Automotive
- Daily Mirror
Brits could pay £975 more for car insurance over two-letter title difference
Shocking new data from top comparison sites has uncovered an interesting pattern that could mean Brits are hit with a hefty premium when purchasing their car insurance Drivers have been told that a simple two-letter difference could cost them almost £1,000 on their car insurance. Since the Equality Act 2010, insurers are prohibited from using gender as a factor in determining pricing, meaning you shouldn't be charged more to protect your vehicle just because you're a man or a woman. However, and Quotezone have analysed data from the first quarter of 2025 - to find out whether titles like 'Mr', 'Mrs', 'Miss' and 'Ms' still impact the deal you're offered. The figures reveal significant variation in quotes, with some titles consistently associated with lower or higher costs, and it's bad news for men. The findings show drivers selecting 'Mr' have to pay more for their car insurance — when comparing prices, the difference was as much as £975 between a man selecting 'Mr' and a woman choosing 'Ms' — but this is not due to gender-based discrimination. Both comparison sites confirmed insurers do not use the title itself to calculate premiums. Instead, the title often reflects broader risk profiles associated with the typical characteristics of drivers who select these titles, with factors including driving experience, claims history and driving behaviour taken into account. Motoring expert at Rhydian Jones, explained: "Data shows that men typically pay more for their insurance than women. And this is due to the fact that, statistically, men tend to have a higher risk profile than women. "While data suggests that women are marginally more likely to have made a claim, or have a relatively similar number of convictions to men, data suggests that it's often the case that the severity of these is far greater for men. For example, data shows that men are twice as likely to have more severe convictions, like driving without insurance, careless driving, or driving under the influence. And men are more likely to have multiple, or higher penalties on their licence compared to women. And the more severe the incident, or value of claim being made, the bigger the impact on insurance will be." CEO of Quotezone, Greg Wilson, reiterated the fact that the 'Mr' premium isn't because of gender, and is actually down to individuals in the group presenting higher risk factors. "This could be due to differences in occupation, mileage, claims or conviction history, or other relevant factors that insurers use to assess risk," he added. The average premiums reported by illustrate this gap very clearly. In Q1 of 2025, the average quote for 'Mr' was £1,695, compared with £1,331 for 'Miss' and £863 for 'Mrs' — while the cheapest was £720 for 'Ms'. Quotezone's data backs this up, showing this pattern also holds true across age groups, with 'Mr' consistently receiving higher quotes. Differences between 'Miss' and 'Ms' are similarly explained by underlying risk factors such as age, location and claims history, rather than the title itself. So while some men might feel hard-done-by when looking at this data, it is the associated risk profile that drives the cost up, not title or gender.
Daily Mirror
18-06-2025
- Automotive
- Daily Mirror
If you're about to renew your car insurance you could be in for nice surprise
Millions of motorists are benefitting from cheaper insurance - but the research also shows those who stick with the same provider might actually be stung with a rise The cost of car insurance has tumbled to a more than two year low, welcome figures have revealed. Motorists have got used to seeing their annual premiums spiral in recent years, especially in the wake of the Covid crisis. It was just another hit in the cost of living crisis. But it seems like we have turned a corner, with prices well and truly heading in the right direction. Data from price comparison website along with WTW, found drivers can now expect to pay an average of £757 a year for their car insurance. This is a £144 - 16% - less than a year ago. The figures are based on more than six million quotes. At the end of 2023, the average premium was £995 - the highest recorded by the car insurance price index. This means prices have fallen by £238 in just 18 months. Younger drivers - who typically have the highest premiums - are now benefitting from the biggest savings. According to to the research, the average 17-year-old will still be shelling out £2,051 a year for insurance. But that is £775 - around 27% - less than 12 months ago. It is the biggest yearly drop for this age group in more than a decade. It is not just younger drivers who are seeing a significant fall in prices. According to the index, a typical 46-year-old has bagged a prices drop of £154 - 18%. This brings the average price for drivers of this age to £688. Not that everyone will have seen prices fall. If you've had your renewable quote and it's gone then you are not alone. Research shows not all drivers are seeing these savings at renewal - especially those staying with the same insurer. Nearly half of UK drivers claim their renewal price has increased in the past 12 months. Those who faced higher renewal prices said they were being asked to shell out an average £79 more than last year. Meanwhile, those who were offered a cheaper renewal price said it was only £57 less than the year before. The disparity highlights the importance of shopping around before you go with a quote. Rhydian Jones, motoring expert at said: 'Car insurance prices have been dropping for some time now - and this is great news for those who are due to renew soon. 'Our latest data shows that the cost of a new policy, on average, is £144 cheaper compared to last year. But some customers aren't seeing the same savings in their renewal price from their insurer. 'When it comes to your renewal, your premium price might go down - or it might stay about the same. But as average prices drop, insurers can become more competitive, which means you could get a cheaper price elsewhere. It's important not to just stick with a price because it looks good - you could be missing out on a lot of money.' Save money on your car insurance has produced some tips on getting the best savings. Shop around early Research shows most drivers look to renew their car insurance about 15 days on average before it runs out. But further data shows that the sweet spot to get the best price is around three weeks before renewal. So, getting a quote just that little more in advance could help you find a better deal. Be accurate with your mileage Trying to lower your premium by underestimating your mileage can actually cost more. For example, drivers who report 5,000 miles per year pay an average of £809, while those driving 10,000 miles are paying an average of £746. Always be honest about your mileage when taking out insurance. If you exceed your annual mileage, you could risk invalidating your policy. Consider sharing the driving Adding a named driver to your policy, especially one with more experience, could help save money on your insurance. Data shows that those listed as the sole driver on their policy pay an average of £853 for car insurance. In comparison, those with an additional driver pay £735. The savings can be even cheaper if the additional driver is a spouse, with average premiums dropping to £534, on average. However, if you're adding a named driver to your policy, it's important to ensure that the policy holder is the main driver of the car - not the named drivers. Having a named driver as the main driver is a form of insurance fraud, called fronting, and can carry serious consequences.
The Sun
18-06-2025
- Automotive
- The Sun
Car insurance prices plunge to two-year low with average cost falling to £757
CAR insurance costs have plummeted to their lowest point in two years. Drivers can expect to pay an average of £757 — down £144, or 16 per cent, on the same time last year, says Prices fell by £20 in the past three months alone, and have been falling for almost 18 months straight. Stuart Masson, at advice site The Car Expert, explained: 'From 2020 to 2022, the industry suffered from global shortages of cars, parts and labour which meant repair times went from days to weeks. 'For all that time, insurers were paying for customers to run around in courtesy cars. 'Improving parts supply and staffing availability has helped bring these costs back down.' Younger drivers are seeing the biggest savings, with 17-year-olds now paying £775 less than a year ago — the biggest drop for the age group in over ten years. Those aged 18 are paying £697 less than they were in 2024. But teens still face the highest bills with average premiums still at over £2,000. motoring expert Rhydian Jones urged drivers who are due to renew their policy to shop around for the best deal. He said: 'As average prices drop, insurers can become more competitive, which means you could get a cheaper price elsewhere.' 2 Cut car insurance costs and save money MORTGAGES 3-YEAR LOW 2 MORTGAGE lenders have slashed their two-year fixed deals to the lowest rates seen in almost three years. The average has fallen to 5.18 per cent in the past month, down by 0.14 per cent. Meanwhile, five-year rates average at 5.09 per cent, down from 5.48 per cent last May, said MoneyFacts' data analysts. Its finance expert Rachel Springall said: 'Thankfully so far lenders have been cutting fixed rates, not hiking them.' The Bank of England is today expected to hold its base rate, which influences both mortgage and savings rates. ELECTRIC SURGE ONLINE electricals retailer AO World has notched up record annual profits. The group reported a 32 per cent rise in underlying pre-tax profits to £45million for the year to March 31. The group saw like-for-like sales lift 7 per cent to £1.11billion. Sales were boosted by the deal to buy Music Magpie. However, AO faces about £8million in extra costs due to rises in NI contributions and minimum wage hikes. HOMES SLOW THE annual rate of house price growth halved as a stamp duty holiday ended. The average UK house price rose by 3.5 per cent in the 12 months to April — down from 7 per cent growth in March, when buyers were rushing to beat the stamp duty deadline — ONS figures show. Average house prices increased to £286,000 in England, £210,000 in Wales and £191,000 in Scotland.
Daily Record
04-06-2025
- General
- Daily Record
New Blue Badge parking space finder to help millions of people across UK
More than 3.2 million Blue Badge holders across the UK can now use a new online tool to help them find a free, designated parking bay anywhere in Scotland, England and Wales. New analysis by has revealed that for every Blue Badge parking bay there are 52 scheme users - travelling as a driver or a passenger - potentially competing for each space. While the chances of every Blue Badge holder trying to use all 63,000 parking spaces at the same time is unlikely to happen, the grim reality is that Blue Badge parking space s are not always available when someone needs to use one. To help permit holders find Blue Badge bays in any part of the country - particularly handy if you're travelling somewhere unfamiliar - has created an online tool to help people find them, just by entering a postcode. Blue Badge holders and parking bays across UK As of 2024, the number of Blue Badge spaces and permit holders across the UK, includes: Scotland Number of Blue Badge holders: 271,966 Number of Blue Badge parking spaces: 16,808 England Number of Blue Badge holders: 2,635,428 Number of Blue Badge parking spaces: 43,604 Wales Number of Blue Badge holders: 219,614 Number of Blue Badge parking spaces: 2,588 Northern Ireland Number of Blue Badge holders: 149,038 Number of Blue Badge parking spaces: Not available When it comes to the number of Blue Badge spaces available for those who need them, it's also important to be aware of the growing number of people wrongly using the designated parking spot. There have been 705,310 PCNs (Penalty Charge Notices) distributed for the misuse of Blue Badge parking bays. Blue badges are designed to make life easier for people with mobility issues, but for many, finding a space can sometimes be tricky. A survey found that a third (36%) of Blue Badge holders said they have turned up somewhere needing to park, only to find someone without a Blue Badge already in the space. Around the same number (34%) said there simply aren't enough accessible spaces in their area. When there's no space available, two-thirds (65%) said they have had no choice but to park in a standard space. But that doesn't always work - especially when extra room is needed to get out of the car. Worryingly, two-in-five (40%) have even had to leave a car park altogether because there were no accessible bays free. A third (36%) said they have avoided visiting certain places because they weren't sure they'd be able to park nearby. In response to their findings, have created a look-up tool to help Blue Badge holders find out how many designated parking bays are available in their local council area. Users can also use the tool to look up Blue Badge spaces in their area using the map online here. Commenting on the findings, Rhydian Jones, motoring expert at car insurance, said: 'Blue Badge parking spaces are essential for millions of drivers across the UK, but our latest research shows how easily that system struggles. 'This is especially highlighted when there isn't enough availability, and other drivers take advantage of the spaces. Shockingly, for every one Blue Badge parking bay in the UK, there are 52 permit holders who need access to it. 'If you're using a Blue Badge space without needing one, even for just a few minutes, you could be stopping someone from being able to work, shop, or attend a medical appointment. It's clear that more needs to be done, both to increase the number of accessible bays and to prevent misuse. 'If you're caught using a Blue Badge space without a permit, you could receive a Penalty Charge Notice (PCN) costing between £70 and £100.'
