The Weekly Consumer Report Podcast
Welcome to Parfitt Cresswell’s Weekly Consumer Report brought to you by broadcast journalist Glen Thompsett and award-winning journalist, author, podcaster, and broadcaster, Lindsay Cook.
Each week, we break down the stories that matter most to your money, your rights, and your everyday life - helping you make smarter decisions in a fast-changing world. Every episode is packed with clear explanations, actionable tips, and the latest news - so you can feel confident and in control.
Tune in to our latest episode and join the conversation!
Episode 35: 14th July - in this episode:
Petrol prices
Petrol prices are on the move. There can be a difference of 11p a litre between forecourts a couple of miles apart. It makes it more important to check prices before you fill up. Drivers are missing out on savings because many are not using fuel price comparison tools, according to the RAC. Drivers should make greater use of the government's Fuel Finder service and other comparison apps "to save money".
Brent crude prices topped $86 a barrel this week as the US launched a fresh wave of strikes in response to Iranian forces hitting a ship passing through the Strait of Hormuz.
Scam refunds
UK banks have returned hundreds of millions of pounds to scam victims under a reimbursement system run by the Payment Systems Regulator.
According to its annual report £243 million was refunded to victims of Authorised Push Payment where bank customers are tricked to make payments. A total of £576m was paid across all fraud types.
Banks must refund victims up to a maximum cap of £85,000 per claim, which covers more than 99% of all fraud cases, unless the customer has been significantly careless. Banks have up to five working days to refund in most cases. The sending back and receiving bank each pay 50% of the compensation.
Sophisticated investors also fall foul of fraudsters. Nick Candy, a property developer as the victim of a company that artificially inflate its share price.
Mortgages
The mortgage payments of just over five million homeowners will increase by the end of 2028, according to the Bank of England. However, the Bank's Financial Stability Report said the hit would not be as hard as seen in recent years. A typical owner-occupier rolling off a fixed rate in the next two years is likely to face an increase of £45 on their monthly mortgage bill, the Bank calculated. That compares to a typical rise of £120 for those getting a new deal between the end of 2022 and end of 2024.
Cheque deposits
Lloyds Bank is in talks with the Post Office to reintroduce a cheque deposit service for bank customers after a campaign by customers and MPs. Lloyds Banking Group said although cheque usage was in decline it "recognised some customers want greater choice."
Broadband fine
Virgin Media has been fined £28m by Ofcom for repeatedly preventing customers from cancelling contracts . It said the company deliberately hung up on calls, and put customers on hold "for no reason".
It said millions of calls from customers were likely to have been mishandled over a three-year period which prevented customers from moving to another broadband, landline or pay-tv company.
Anyone switching now shouldn't face the same hassle. Ofcom's One Touch Switch service, launched in 2024, means you only have to contact your new provider, not negotiate with the old one.
Probate increase
Grieving families face a 75 per cent increase in probate fees after the Ministry of Justice increased the price of administering an estate from £300 to £526 earlier this month. Probate documents grant the authority for someone to deal with a person’s estate after they die. Families must pay a probate fee if the estate is worth more than £5,000.
Heatwave help
EDF, the energy company is sending out 'heatwave relief packs' to help vulnerable customers manage during heatwaves.
Up to 10,000 eligible households will receive the packs from EDF, which are worth up to £100. They include items such as a neck or handheld fan, a desk or pedestal fan, thermal blackout curtains, reflective window film, reusable hydration bottles and cooling towels.
Episode 34: 7th July - in this episode:
Markets
Britain’s blue-chip stock index have hit the highest level since the beginning of the Iran war.
US markets also rose as weaker than expected jobs data reduced fears of interest rate rises later this month. The Dow Jones index closed at an all-time high of 52,900 before the independence day celebrations.
New build
Around 700,000 people who bought new-build homes between 2015 and 2024 could get compensation of up to £6,200 after the Competition and Markets Authority investigated whether leading builders shared information that influenced the prices they charged for properties.
Now a claim is going to the Competition Appeal Tribunal to get compensation for home buyers who feel they paid too much for their homes.
Crypto regulations
New regulations are to be introduced for crypto currencies by the Financial Conduct Authority to reduce risk for investors.
Compensation delay
The compensation scheme for people who bought cars using finance deals has been delayed until next year after three organisations complained the scheme was unfair. Finance companies face paying out £9.1 billion because car buyers were overcharged interest. The average pay out is expected to be £830 for each of the 12 million car loans. The claims will now be handled next year.
Increased defaults
More people are missing credit card payments according to data from the Bank of England. The number of people struggling to make credit card payments is likely to increase as households face higher rents, mortgage payments, energy and council tax bills.
Petrol
Petrol and diesel prices have fallen as oil prices are back to the level they were at the beginning of the Iran war. But petrol prices have a long way to go to get back to the late February level of 132p per litre of unleaded. Locally they were 151p to 153p at the beginning of the week.
Meet Your Hosts
The show is hosted by Glen Thompsett, an experienced broadcast journalist, and an award-winning journalist, author, podcaster, and broadcaster Lindsay Cook, whose expertise is widely recognised; she’s a regular contributor to BBC Radio 4 and other outlets and has written extensively for the Financial Times. Together, Glen and Lindsay bring decades of expertise, a passion for consumer advocacy, and a knack for making complex topics easy to understand.
Legal Chat with Parfitt Cresswell
Hear from our legal experts as they discuss various legal topics in Legal Chat with Parfitt Cresswell. Answering the commonly asked questions we receive on a regular basis, Legal Chat removes all of the legal jargon and makes the complex world of law that little bit easier to understand.
