This email was sent to Money Box subscribers on 6 September 2007

Dear Listener

Did you podcast last week? That is probably the wrong use of the verb but you know what I mean - did you download the podcast of Money Box? I did. And it works! Very exciting. Now I can listen to myself in the car or on the train at any time! And so can you.

There’s good news for savers on the programme this week. It is the silver lining in the cloud of depression hanging over the banks. They are still reluctant to lend money to each other. So they are being forced to raise more from individuals with cash. And that means they are offering very high rates on cash savings – more than 6.5%. Rates are rising as I write. Find out how high they have gone on the programme.

It’s been called the Bangladeshi community’s Farepak. Two thousand people in the UK have lost £1.7 million which they were sending to their families in Bangladesh. The company they trusted with their cash was not a bank but a money transfer agency called First Solution. It is now in the hands of the receiver and their money has disappeared. We ask the government minister responsible what he will do.

Did you fly long-haul with BA or Virgin between August 2004 and January 2006? You would have paid a fuel surcharge of up to £60. But now you may be able to claim some of it back. The two companies have admitted they colluded over these surcharges and BA has been fined more than £120 million. Lawyers here and in the USA tell us they are hopeful of getting refunds for passengers.

From Monday Home Information Packs will be extended to three bedroom homes, bringing 60% of the housing market into the HIP fold. Are the controversial HIPs proving any use? Are they accurate? And are they affecting house sales? All questions we will be asking.

Sunday’s repeat of Money Box is being replaced this week by a special programme on the global credit crunch – that’s the cloud of depression over the banks referred to above. Will interest rates rise? Will property prices fall? Both have happened in the USA. Will they come here?

Best wishes

Paul Lewis

PS Don’t forget the live preview of Money Box on Saturday on BBC1 Breakfast between 8.45 and 9.

PPS Don’t forget the podcast!

 


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