Latest news with #Section75
The Herald Scotland
2 days ago
- Business
- The Herald Scotland
Edinburgh's West Town: A new city rising – or a chance slipping away?
All of this is slated for West Edinburgh, an area stretching from Maybury out to the airport, close to the tram line and the A8. A new community of high-quality homes and green space. This west Edinburgh story is only just beginning and for several reasons it should be one of the most notable developments in the whole of the UK. The population of Scotland's capital is growing. And the demand for housing, whether rented or owner-occupied, is soaring. Renters need them. Buyers want them. Businesses demand them. Politicians talk about them. Frank O'Donnell (Image: Handout) In short, it's the subject that (almost) everyone agrees on: we need more houses to underpin economic growth, not only in rural areas but also in our cities. Planning permission has already been granted for homes in the Garden District. In December permission was granted for a further 10,000 homes alongside the tram line to the Airport in two developments known as West Town and Elements Edinburgh. But progress remains painfully slow. There has been much talk about Scotland (and Britain's) cumbersome planning system. A system that seems to revel in delay, one that sometimes appears to prioritise red tape, and even wildlife, over people. And one which often drives international investment elsewhere. This is partly true. We do need faster decisions. But that's only half the story. After planning, housebuilders need to pay money to the local authority towards the building of schools, health centres and public transport, known as Section 75 contributions. Few would argue with this as a principle. Why should Edinburgh City Council foot the bill to upgrade roads and build new schools? But the level of contributions in Edinburgh are now leaving developers struggling for breath and unable to see a way forward. The contributions, which run into tens of millions for some developments, are now a significant barrier to spades in the ground. But this is not all. Finding the construction companies that are able to take on the work is also a challenge, contributing further to delays and increased costs. If you are already a homeowner in Edinburgh you might shrug your shoulders and ask: 'so what if some new houses are delayed?' But the chronic shortage of housing – estimated at over 100,000 in Scotland since the financial crash in 2008 – is acting as a drag on investment and jobs for Scotland's economy which affects us all. More than this, good quality housing is central to a fairer, sustainable and thriving Scottish economy and society. In Edinburgh, the issue is particularly acute. Read more from our Future of Edinburgh series The city's private rented sector has the highest rents in Scotland and soaring rental inflation is pushing families towards an already overstretched social sector, and in some cases to homelessness. In Edinburgh the average house price is almost 80% higher than the Scottish average. In the private rented sector, the average three bed rental price is around £1450 per month, £300 higher than the Scottish average. The Scottish Housing Regulator has stated that the housing system in Edinburgh is in systemic failure, with further pressures looming related to asylum and refugee arrivals in the city. For more than 20 years Edinburgh has largely subcontracted its needs for new homes to local authority neighbours in West, East and Midlothian. Cross the city boundary to the south around Gilmerton and Dalkeith and you quickly get a flavour of this. And it's continuing. In 2024, East Lothian and Midlothian had the highest rate of new build completions in Scotland. While this has helped to meet demand – a great number of families living outside the city are commuting back into the city daily for work. This puts pressure on road and increases air pollution. Housing emergency It is now 19 months since Edinburgh formally declared a Housing Emergency in the city. The Scottish Government followed with a national housing emergency in May 2024. The word emergency typically implies a need for immediate action and evokes images of stop-everything-else-and-deal-with-this. There should be sirens but the silence is deafening. Instead of an emergency imagine a piece of paper sitting in an in-tray for two months, followed by an oblique and unhelpful response delivered via second class post. Declaring an emergency could have been a useful vehicle to catalyse urgent action. Instead it is becoming a policy joke that isn't very funny. The problem is acute in rural areas where a lack of homes threatens to stall Scotland's economic growth and our ability to take advantage of the growth in renewable energy. But in Scotland's capital the issue is, for different reasons, especially problematic. Leadership There is no shortage of goodwill. Paul Lawrence, the new chief executive of Edinburgh City Council, came from economic development and understands only too well the importance of getting this right. And that doing so, would likely mark his tenure as a major success. The Scottish Government, the UK government and the industry are all making the right noises. What is absent is real knock-heads-together leadership of the kind we see in English cities like Manchester. A structure which allows one department to get everyone around the table to work through problems and move things on. Right now, this feels like a system problem with no clear way forward. There isn't even a national housebuilding target in Scotland, unlike in England. And yet Scotland does have examples of success. Look west at the Clyde Gateway project and you will see progress across local authority boundaries, and real positivity and leadership. Perhaps we need west Edinburgh to be renamed Forth Gateway – or something more imaginative. West Edinburgh could be a model of modern, green, high-density, liveable city planning – the kind of place other countries write case studies about. The opportunity is clear. Act now, or the prize of a new urban district – and all it could deliver – will slip through our fingers. Frank O'Donnell is a former editor of the Edinburgh Evening News and The Scotsman, and a senior partner with Charlotte Street Partners
Wales Online
5 days ago
- Entertainment
- Wales Online
Festival-goers warned to watch out for ‘ticket traps' when booking summer events
Festival-goers warned to watch out for 'ticket traps' when booking summer events With many events taking place over the summer, fans desperate to get their hands on coveted tickets to see their favourite bands perform live could be susceptible to scams Fans desperate to get their hands on coveted tickets could be susceptible to scams (Image: Matt Cardy/Getty ) Festival and concert-goers are being warned to watch out for "ticket traps" set by fraudsters to steal their cash. With many events taking place over the summer, fans desperate to get their hands on coveted tickets to see their favourite bands perform live could be susceptible to scams. Pearl Akintola, a consumer fraud expert at credit information company Experian, said: "It is vital that consumers are aware of the potential traps that are out there and how to avoid them. "These traps exist not only with ticket sales, but also for those booking last-minute travel and accommodation to attend festivals. It's vital to think through any big-ticket purchases by firstly validating the credibility of the seller, then being careful in how you complete the payment transaction." Recent analysis by Lloyds indicated that Oasis fans have collectively lost more than £2 million to scams since tickets for the band's long-awaited reunion tour went on sale last year, with an average loss of £436. In a warning about where many scams are originating, Lloyds highlighted unofficial groups set up on social media, dedicated to buying and selling tickets for the Oasis tour. Article continues below Here are some tips from Experian for people looking to buy tickets to gigs and festivals or book travel: 1. Know how to spot fake websites. When buying tickets, make sure you are using verified websites, which could include the festival's official site, the promoter, or a verified ticket exchange. Always double-check the website address. 2. Do background checks. Check sellers' reviews and verify if they have a reachable email or phone number. If you are buying from an independent seller, make sure you ask as many questions as possible (such as when the ticket would arrive and the type of ticket they are selling) and then confirm these details with a verified source such as the promoter's website. 3. Be mindful of how you pay. If you are paying by credit card, you may be able to make a Section 75 claim if something goes wrong. Section 75 of the Consumer Credit Act means the card issuer can be held jointly liable for the failure of the goods and services being provided, subject to terms and conditions. 4. Ask yourself if it is too good to be true. Article continues below If a seller is offering you a bargain price for a ticket to a popular event, this could be a red flag. Verify the seller's details and the average price of tickets from credible sources. Thinking you have found an affordable ticket may be a very exciting moment but try to keep your calm and approach opportunities with caution. 5. Report fraud. As well as reporting it to your financial firm, crimes should be reported to the police. It may also be worth checking your credit reports for signs of any fraudulent activity. Credit reference agencies can help to put right any damage done to reports.
Yahoo
5 days ago
- Business
- Yahoo
Festival-goers warned to watch out for ‘ticket traps' when booking summer events
Festival and concert-goers are being warned to watch out for 'ticket traps' set by fraudsters to steal their cash. With many events taking place over the summer, fans desperate to get their hands on coveted tickets to see their favourite bands perform live could be susceptible to scams. Pearl Akintola, a consumer fraud expert at credit information company Experian, said: 'It is vital that consumers are aware of the potential traps that are out there and how to avoid them. 'These traps exist not only with ticket sales, but also for those booking last-minute travel and accommodation to attend festivals. It's vital to think through any big-ticket purchases by firstly validating the credibility of the seller, then being careful in how you complete the payment transaction.' Recent analysis by Lloyds indicated that Oasis fans have collectively lost more than £2 million to scams since tickets for the band's long-awaited reunion tour went on sale last year, with an average loss of £436. In a warning about where many scams are originating, Lloyds highlighted unofficial groups set up on social media, dedicated to buying and selling tickets for the Oasis tour. Here are some tips from Experian for people looking to buy tickets to gigs and festivals or book travel: 1. Know how to spot fake websites. When buying tickets, make sure you are using verified websites, which could include the festival's official site, the promoter, or a verified ticket exchange. Always double-check the website address. 2. Do background checks. Check sellers' reviews and verify if they have a reachable email or phone number. If you are buying from an independent seller, make sure you ask as many questions as possible (such as when the ticket would arrive and the type of ticket they are selling) and then confirm these details with a verified source such as the promoter's website. 3. Be mindful of how you pay. If you are paying by credit card, you may be able to make a Section 75 claim if something goes wrong. Section 75 of the Consumer Credit Act means the card issuer can be held jointly liable for the failure of the goods and services being provided, subject to terms and conditions. 4. Ask yourself if it is too good to be true. If a seller is offering you a bargain price for a ticket to a popular event, this could be a red flag. Verify the seller's details and the average price of tickets from credible sources. Thinking you have found an affordable ticket may be a very exciting moment but try to keep your calm and approach opportunities with caution. 5. Report fraud. As well as reporting it to your financial firm, crimes should be reported to the police. It may also be worth checking your credit reports for signs of any fraudulent activity. Credit reference agencies can help to put right any damage done to reports. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Metro
30-05-2025
- Business
- Metro
Credit doesn't have to be risky – here's how to use it smartly
Many of us are frightened of borrowing money, whether on a credit card or through a loan or mortgage, with a recent survey from comparison site Uswitch showing that a third of young people view credit cards as 'potential debt traps'. But used correctly, credit can help you to build your credit score, manage your cashflow and even end up with more money at the end of the month. Here's how to make credit a friend, not a foe. All of us need to know how we're doing financially, so if you're making a big purchase or need to borrow money, ask yourself first why you're doing it and if you can afford it. Remember, it's normal to consider finance for big purchases such as houses or cars, with 9 in 10 cars requiring financing and only a third of homeowners not having a mortgage. Many people also use credit for smaller purchases, for many reasons. Just make sure you go through your budget, understand what you can afford and what the payments will be. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Understanding the benefits and rates of different types of credit will help you to be less scared of using it, and to set it up to your advantage. Potential benefits include: Extra time: Credit cards and buy now pay later (BNPL) schemes don't cost you anything in interest as long as you pay on time. Credit cards and buy now pay later (BNPL) schemes don't cost you anything in interest as long as you pay on time. Reward points and cashback: There can be perks such as frequent flyer miles, Nectar points and cash. There can be perks such as frequent flyer miles, Nectar points and cash. Credit score building: All credit card providers, and some BNPL options such as Zilch, report your regular payments of debt to credit rating agencies. This means that if you pay back debt regularly to them, your credit score will increase, not decrease, because lenders can see you are responsible with money. Having a good credit score makes it easier to get mortgages and other deals. All credit card providers, and some BNPL options such as Zilch, report your regular payments of debt to credit rating agencies. This means that if you pay back debt regularly to them, your credit score will increase, not decrease, because lenders can see you are responsible with money. Having a good credit score makes it easier to get mortgages and other deals. Consumer protection: Credit cards and Zilch offer Section 75 protection, which means if you buy something over £100, the provider is also liable if a firm goes bust or goods are faulty. Knowing you have a plan to pay back any credit you've taken out means there should be no fear factor in using it. That means keeping a diary record of when payments need to be made, putting aside money in a separate account or savings pot to make payments on BNPL schemes and setting up direct debits to pay off cards in full every month unless they have an interest-free period. More Trending Always make the minimum payment on any debt, as not doing so will ruin your credit rating and remove any interest-free period you have on a card. If you can get credit for a longer period and use that to spend, then your savings can stay in your account earning money for longer. This is a process known as 'stoozing' and it isn't for everyone, but if you're clever you can make money on your own cash while using credit for free. If you're doing this, make sure your own money is earning the highest interest possible (use Moneyfacts Compare to check the highest rates on cash savings) and always pay back your debt before any interest-free period ends. View More » Credit can be a powerful friend but if you get into trouble with it, debt can cost you dearly. Charities such as StepChange and Citizens Advice can help if you are struggling with debt. MORE: This skincare product completely transformed my skin – I get everyone to use it! MORE: Readers say spitting men can jog on along with racists and dogs on trains MORE: Live jazz, dinner and drinks in Mayfair: 10 unmissable Time Out deals
Yahoo
23-05-2025
- Business
- Yahoo
The best bank cards to use abroad
Before going abroad, it's important to make sure you have the best payment card with you, or your holiday spending could quickly start racking up hefty fees. Some providers issue fees of around 3pc added to all foreign purchases, and ATM withdrawals can also attract instant fees and interest. Fortunately, a range of debit and credit cards offer fee-free spending and cash withdrawals abroad. Some even offer additional perks including cashback, meaning banks will pay you to spend rather than the other way around. Rachel Springall, of financial analyst Moneyfacts, said: 'Holidaymakers looking to make their cash go further should apply for a credit card designed for use abroad, or open a current account with a debit card which does not charge for making withdrawals.' Here, Telegraph Money takes a closer look at the best bank cards to take on your next holiday. Top travel credit cards Top travel debit cards Are credit or debit cards a better option to use abroad? How much could a travel bank card save you? FAQs The key to finding a good travel credit card is making sure it doesn't charge foreign spending fees. You may prefer to use a credit card while abroad due to the Section 75 protection they offer. If something goes wrong, you can reclaim the value of purchases between £100 and £30,000 from your credit card provider. Andrew Hagger, of personal finance website MoneyComms, said: 'Unlike most credit cards, Barclaycard Rewards doesn't charge any fees or interest charges on purchases overseas or cash withdrawals, provided you pay your statement in full by the due date.' As a small added bonus, you also get 0.25pc cashback on your spending. Applicants for this card must be over 21, and have a minimum annual income of £20,000. It has a representative APR of 28.9pc based on a £1,200 credit limit. Halifax's Clarity card is another favourite with holidaymakers, as there is no exchange rate mark-up for purchases or ATM transactions. That said, you will pay up to 28.94pc interest on any cash withdrawals. This begins the moment they are made. Mr Hagger added: 'On a £100 ATM withdrawal, this will work out at around £2.30 over 30 days.' There are several debit card options to use abroad too; the best ones will also let you spend and withdraw cash fee-free. The debit card from Chase is fee-free for spending at home or abroad, and pays you 1pc cashback on most purchases, even when you're away. This means that for many, it's likely to be the best pick for which card to use abroad. Chase lets you take out up to £500 per day, and £1,500 per month. Spending and cash withdrawals abroad are fee-free with Monzo, but there may be limits to the amount of cash you can withdraw before fees kick in. If Monzo's free account is not your main bank: £400 fee-free every 30 days in the UK and EEA, 3pc afterwards; £200 fee-free every 30 days outside EEA, 3pc afterwards If Monzo's free account is your main bank: Unlimited fee-free withdrawals in UK and EEA; £200 fee-free every 30 days outside EEA, 3pc afterwards Monzo Plus (comes with monthly fees): Unlimited fee-free withdrawals in UK and EEA; £400 fee-free every 30 days outside EEA, 3pc afterwards Monzo Premium, Perks and Max (comes with monthly fees): Unlimited fee-free withdrawals in UK and EEA; £600 fee-free every 30 days outside EEA, 3pc afterwards. Starling is another popular app-only bank. Again, no fees are charged on spending or cash withdrawals when you're abroad – but ATM withdrawals are capped at £300 a day. If you don't want to take out a new credit card or open a new bank account, Currensea might be a good option. Mr Hagger says: 'Currensea provides you with a Mastercard that you link to your existing current account. The beauty is, you don't have to worry about pre-loading with euros or dollars before you set off.' According to its website you cannot yet link up with Co-op Bank, Metro Bank, Danske Bank or the Bank of Ireland. There are three price plans to choose from. The essential package has no annual fee, but charges 0.5pc foreign exchange charge on both purchases and ATM withdrawals. There are no additional charges for the first £500 cash withdrawals each month, but anything above this monthly limit attracts a 2pc fee. The premium plan is £25 annually and the elite plan costs £120 per year. Mr Hagger said these might suit frequent travellers as they come with lower foreign exchange rates and additional features. Both credit and debit cars are viable options for using abroad, but there are pros and cons for each. Credit cards are useful for deposits when preparing to travel, for example if you are renting a car. If you're travelling for business, a credit card may also be the better option thanks to the increased protection and insurance, longer payment terms and the opportunity to earn points. For all travellers, credit cards offer more robust protection against fraud and scams. However, if you have a debit card with one of the challenger banks, such as Monzo or Starling, you can spend fee-free. In this case, a debit card may be the better option but it's worht checking the terms before you jet off. Depending on how long your trip is, foreign transaction fees could potentially add hundreds of pounds to your holiday spending. There are three charges that could be added to your foreign transactions by your credit or debit card provider: non-sterling transaction fee ATM fee spending charge. Some might charge just one of these, while others will charge all three. For credit or debit card purchases – such as buying a meal at a restaurant – non-sterling transaction fees are usually around 3pc. This may be charged in addition to a spending charge, which is usually between 50p and £1.50. Paying £100 for a meal while you're away, for example, could therefore cost you up to £104.50 once the additional costs are added. These fees can seriously add up, especially when making smaller purchases. If you make five transactions in a day, you could be looking at £7.50 in spending charges alone, plus the non-sterling transaction fee. ATM fees vary between providers, but you could end up paying a cash advance interest – and in some cases this is charged every day until you pay it off. A non-sterling cash fee is usually around 3pc, with a minimum charge of £3. This means even a small cash withdrawal of £20 could cost £23 plus interest. The good news is, there are lots of ways to avoid these charges altogether – you just need to have the right card for the job. Prepaid cards can work well if you want to stick to a strict budget on your trip, as you can load up the card before you go – either in sterling or your chosen currency – and then it's ready to spend while you're away. Some popular options include: Post Office Travel Money Card. It allows you to carry up to 22 currencies, and can be managed via an app should you want to move your cash around. It also syncs up with Apple Pay and Google Pay if you want to make transactions via your phone or smartwatch. You'll use the Post Office exchange rate and there are no spending charges. FairFX multi-currency card is another good alternative, as there is no exchange rate mark up for the 21 currencies available to load on the card. There is, however, a £1 fee on all ATM withdrawals. Another fee to watch out for is inactivity fees. This card charges £2 per month on any remaining balance if it's left loaded after its expiry date. EasyFX card doesn't charge for ATM withdrawals or to load your card. However, if you lose it and need a replacement there is a £6 charge, and it will also take £2 per month if the card hasn't been used for more than 12 months. If you're given the option of paying in sterling, as opposed to the local currency, whether you're in a shop, restaurant or other outlet during your holiday, you should always say no. Opting to pay in sterling means you're giving the card payment provider the chance to decide the exchange rate, via a process known as 'dynamic currency conversion'. The rate is unlikely to be in your favour. Matt Sanders, of Money, said: 'In most cases you will get a better currency rate from your card provider, so if you are presented with the option of paying in pounds, opt against it, as it may cost you more.' Wind the clock back 10 or 20 years ago, and hardly anyone would be considering regularly using your debit or credit card abroad – instead, travel wallets would be stuffed with foreign currency, and even a few traveller's cheques. Cash use is in decline in the majority of holiday destinations, but is it still worth taking at least a little cash with you? This will largely depend on the destination; you probably won't need as much cash if you're visiting Sweden than, say, a remote town that is yet to catch up with the contactless revolution. 'There's not a great need to carry a large quantity these days,' said Mr Hagger, 'although some people like to carry a little for tipping taxi drivers, room cleaners or in bars or restaurants.' It can be stressful if your card is lost while travelling, but you have options. The first thing to do is to tell your bank that it has been lost or stolen, to ensure no one else can access your money. Emergency phone lines are generally open 24 hours a day, seven days a week. But you may be charged for calls made outside of the UK. Many banks offer access to emergency cash while you're abroad. Barclays promise that funds will reach you within three days, for instance. It can be a good idea to tell your bank where you are going before your travels to prevent normal activity alerting fraud monitoring systems as suspicious. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Sign in to access your portfolio
