UK Money News
17th April 2008
Homebuyers hammered by providers' 'crafty tactic'
Homebuyers are paying over the odds on their utility bills due to a "crafty tactic" on the part of providers, according to a price comparison site.
According to Fool.co.uk, utility companies are profiting from the practice of applying a deemed tariff on a home when its previous owners move out.
The site claims that on average such gas and electricity tariffs are 25 per cent more expensive than the cheapest one available from the same supplier.
Thus with 2.4 million people moving each year, Fool.co.uk calculates that the collective overpayment being made by those on deemed tariffs stands at £70 million annually.
David Kuo, head of personal finance at Fool.co.uk, said: "Moving house is an expensive exercise. And the expense in moving can be made more costly if consumers unsuspectingly sign up to penal energy tariffs.
"New occupants should not delay in switching away from deemed tariffs, even if it means transferring to a monthly direct-debit tariff with the same lender first. The longer you wait, the longer you will be on the most expensive tariff.
back to April's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
