HUNDREDS of mobile phone users have been hit by shock charges after an EE billing blunder.

Some customers have been billed as much as £400 on top of their usual bill for calls that should have been included in their contracts.

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Most mobile phone contracts come with an unlimited allowance for UK calls and texts, which is the industry standard.

However, some EE customers were wrongly charged after the company began moving their accounts to a new billing system.

The issues first started in September, and hundreds of affected customers have complained on EE‘s community forum.

One affected customer said: “I’ve been charged £220 in calls even though I live in [the] UK and only call UK numbers.

“I’m meant to have unlimited calls and texts and data.”

Another said: “I had the same problem and was billed for £240+ for calls that should have been inside my allowance.”

A third said: “I have just found out that the same thing has happened to me.

“Almost had a heart attack when I was charged £268 over 2 weeks.” said a third customer.

The overcharging amounts range from approximately £90 to £400.

Some affected customers have reported that, despite lodging multiple complaints, they have struggled to secure refunds and were initially informed that they would still have to pay the erroneous charges, according to ISPreview, which first reported the issues.

EE told The Sun that you do not need to take any action as it is proactively contacting those affected and automatically issuing refunds.

However, some customers have reported online that they have yet to receive their refunds.

EE told The Sun that a “small number” of customers have been affected by the issue and it apologised for any inconvenience caused.

The network is not actively compensating customers whose bills have been affected.

However, some customers have successfully requested compensation by contacting EE directly.

One customer shared on the EE forum: “They have offered me £30 off my next bill in addition to a refund for £79 worth of extra charges.”

If you have faced substantial extra charges that have impacted your ability to pay your bills or other expenses, we strongly encourage you to contact EE and request compensation.

If EE is unwilling to offer redress and you remain unsatisfied, it’s worth submitting a formal complaint.

You can do this by calling 150 from your EE mobile or 07953 966 150 from any other phone.

If you’d prefer to write, you can send your complaint to resolutions-store@ee.co.uk or post a letter to the following address:

EE Mobile & Broadband
EE Customer Services
6 Camberwell Way
Sunderland
Tyne and Wear
SR3 3XN
United Kingdom

When sending your complaint, be sure to include as much evidence proving that you’ve been financially affected by EE’s billing blunder.

TELECOMS COMPLAINTS PROCESS

If you’re unhappy with the service you’ve received, you’ll first need to contact your provider’s customer services department and explain the problem.

If this doesn’t resolve the issue, you can make a formal complaint to the company.

Details of how to do this will be on the back of your bill and on the company’s website.

Depending on your complaint type, you’ll be able to contact our team by web chat, telephone or by post.

You’ll need to let the company know what has happened and what you want it to do to put things right.

If a formal complaint gets you nowhere, after eight weeks you can ask for a “deadlock letter” and take your dispute to the appropriate Alternative Dispute Resolution (ADR) scheme.

TAKE YOUR COMPLAINT TO AN ADR

ADR schemes are free to use and will act as an independent middleman between yourself and the service provider when an initial complaint cannot be resolved.

There are two ADR schemes in the UK – Communications Ombudsman and CISAS. 

Your provider is required to be a member of one of these and you can find out which one your provider is covered by on the Ofcom website.

Before you can submit your complaint to it, you must have logged a formal complaint with your provider and worked with the firm to resolve it.

You must also have received a so-called deadlock letter, where the provider refers your complaint to the appropriate ADR.

You can also complain if you haven’t had a satisfactory solution to your problem within eight weeks.

To make a complaint fill in the ADR scheme claims form on its website – or write a letter if you’d prefer.

The ADR scheme then bases its decision on the evidence you and the company submit.

If you choose to accept its decision, your supplier will then have 28 days to comply.

But if an individual chooses not to accept the ADR’s final decision, they lose the right to the resolution offer.

Customers still have the right to take their complaints further through the courts.

But remember this can be a costly and lengthy exercise, so it’s worth thinking carefully before taking this step.

The U.S. housing market has experienced unprecedented changes since the onset of the COVID-19 pandemic. Just 2.5% of homes changed hands in the first eight months of 2024 — the lowest turnover rate in at least 30 years, according to a recent analysis by Redfin. This stagnation is part of the challenge faced by potential homebuyers and sellers alike, as they grapple with a combination of record-high home prices and elevated mortgage rates.

From January 2020 through August 2022, the price of the typical U.S. home increased by 40%, according to the Zillow Home Value Index, pushing the median sales price of an existing home to $416,700 in August 2024, according to the National Association of Realtors.

While the overall housing market has slowed, some areas have experienced a more pronounced downturn than others. Jarred Kessler, CEO of residential sale-leaseback solutions provider EasyKnock, predicts that these regional disparities will become even more pronounced in the coming years.

“What I actually do have pretty strong conviction of a more pronounced discrepancy between markets that are strong and doing well versus those that are not,” he says.

Regional Disparities Intensify

Kessler’s view aligns with recent data showing that metropolitan statistical areas in the South and the West have experienced the most significant growth in prices since the pandemic started. California appears to be bearing the brunt of the slowdown, with 7 of the 10 metro areas experiencing the lowest turnover levels located in the Golden State. Los Angeles, in particular, has seen the lowest turnover rate of any metro area analyzed by Redfin, with just 15 of every 1,000 homes changing hands — a 32% drop from the same period in 2019.

Jeremiah Vancans, a Los Angeles-based Realtor with Compass, attributes this trend to a combination of factors. “In a place like Los Angeles, wages aren’t keeping up with housing prices,” Vancans explained to CNN. “There is not that much new construction inventory hitting the market, and when it does, it’s not at entry-level prices.”

On the other end of the spectrum, Sunbelt cities and areas within commuting distance of New York City have offered homebuyers a larger pool of options. Phoenix, for instance, saw more homes change hands than any other metro area in Redfin’s analysis.

The regional disparities observed during the pandemic and post-pandemic eras aren’t entirely new. A study of home price data since 2000 reveals that the recent run-up in prices is an acceleration of trends that started in the recovery from the late-2000s housing bust.

For most of the 2010s, home price growth was faster in the West and South than in the Northeast and Midwest. The pandemic accelerated this trend, with the South experiencing the fastest rate of home price growth in the country. Consequently, the South is now closer to the Northeast in terms of home prices than it is to the Midwest, making the Midwest easily the most affordable part of the country.

The Interest Rate Factor

The Federal Reserve’s recent decision to cut interest rates after a prolonged period of increases has injected a new dynamic into the housing market. Mortgage rates have begun to fall in anticipation of further rate cuts, with the average 30-year fixed mortgage rate dropping to 6.08% in the week ending Sept. 26, according to Freddie Mac.

While this represents a significant decrease from the recent peak of 7.79% hit last fall, it remains higher than the average mortgage rates seen in the nearly 14 years between 2008 and 2022. This elevated rate environment has contributed to what experts call the “lock-in effect.”

“There has been very little incentive for people to sell homes,” explained Redfin’s economic research lead, Chen Zhao. “That very low inventory on the market was one of the primary drivers of there being so little turnover.”

According to the Consumer Financial Protection Bureau, nearly 60% of the 50.8 million active mortgages have interest rates below 4%. This disparity between current and historical rates has made many homeowners reluctant to sell, further constraining inventory and driving up prices.

The Supply Challenge

A shortage of new home construction has exacerbated the issues facing the U.S. housing market. Experts estimate that the country needs to build more than 2 million homes to meet growing demand. This supply-demand imbalance has pushed home prices to record highs in many regions.

Kessler believes that addressing this supply issue will require cooperation between the public and private sectors. “I think the more folks in the government and the private sector partner up, I think the better things can become,” he states. “And I think that’s one of the things that could change the landscape of the housing market.”

However, the EasyKnock CEO also cautions against using the housing market as a political tool. “The biggest problem is the middle class is being used as pawns in these elections,” Kessler argues. “And I think at the end of the day, it’s too much talk. If you want to help these people, you should encourage incentives to help them.”

Alternative Solutions

In response to the challenges facing the housing market, companies like EasyKnock have developed alternative solutions to help homeowners convert the home equity they’ve accumulated. The company’s sale-leaseback model allows homeowners to sell their property to EasyKnock while continuing to live in the home as renters, with the option to repurchase the property in the future.

Kessler sees this approach as particularly beneficial for middle-class homeowners who may be struggling with high levels of personal debt. “I think if people have built up equity and they’re running a lot of personal debt they need a new solution,” he explains.

The sale-leaseback model offers several advantages for homeowners, including the ability to convert their home equity without moving, avoid real estate broker fees, and potentially benefit from future appreciation in home value. EasyKnock has also committed to capping annual rent increases at the greater of 2.5% or the consumer price index, providing some stability for those who choose this option.

Getting to a Healthy Housing Market

The future of the U.S. housing market remains uncertain, with experts predicting a long road to recovery. “Getting to a healthy housing market is very hard from this point,” said Redfin’s Zhao. “I think the answer is either some variation of, you need a huge amount of supply right to come on, whether that’s new construction, or we somehow unlock existing homeowners.”

Zhao estimates that it may take five to 10 years before the housing market begins to resemble its past state. In the meantime, regional disparities are likely to persist, with some markets recovering more quickly than others.

For his part, Kessler remains cautiously optimistic about the potential for innovation in the housing sector. “There should be a demand for innovation and support of innovation and choice,” he says. “I think that’s one of the things that could change the landscape of the housing market.”

The protection sector has recently lost some leading providers. First it was Canada Life calling time on its individual protection business, followed by Aegon selling to Royal London, and then Aviva merging with AIG Life.

The exits raised eyebrows, with many worrying about the impact on competition and innovation.

The Aviva-AIG Life deal caused the most alarm as AIG had been viewed by many as an innovator and challenger.

It had fostered a culture of innovation and brought many groundbreaking products and services to the market, people claimed, and they feared that AIG’s trailblazing spirit and pool of talent wouldn’t survive the merger process.

The worry in the sector was that AIG’s trailblazing spirit and pool of talent wouldn’t survive the merger process

It’s too early to say how this merger will play out. But some of the concerns raised have come to pass. Dozens of AIG staff, including senior managers, have been made redundant just months after Aviva completed the deal.

The £460m AIG acquisition also attracted the attention of the Competition & Markets Authority (CMA) earlier this year. The CMA launched an investigation into the merger after concerns were raised about “a substantial lessening of competition”. However, it ruled out an in-depth probe following consultation with stakeholders.

The deal was given the green light, paving the way for Aviva to increase its market share with the addition of 1.3 million individual protection and 1.4 million group protection customers to its existing portfolio.

‘Asleep at the wheel’

Protection Guru founder Ian McKenna thinks the CMA was “asleep at the wheel” when it allowed the Aviva-AIG merger.

“They didn’t do their homework properly and they’ve landed the FCA with a problem. Ironically, the CMA is supposed to protect competition and quite literally they’ve damaged it. They’ve now created a scenario where something of the order of 50% of the market is made up of two insurers. That’s not good for providing a competitive environment.”

‘I think — and this could be part of the FCA review — that in some areas the market is stuck,’ says Kevin Carr

The UK protection market is lucrative but cut-throat as insurers battle for a shrinking market share amid an ongoing squeeze on incomes. This has affected their bottom line, making some businesses unviable.

However, experts say the departure of insurers has been happening since the 1990s. Notable names include AXA, Bupa, Old Mutual and Scottish Provident.

“Insurers large and small have always come and gone from the protection market,” says Kevin Carr, protection consultant and MD at Carr Consulting.

“If you look back over 10, 20, 30 years, a dozen or more have left and another dozen have joined. Beagle Street is coming next year and I’m told at least one more.

The exits raised eyebrows, with many worrying about the impact on competition and innovation

“The more important issue is not so much the number of insurers — remember that L&G and Aviva combined is half the market — but the specialisms: Aegon for large cases and business protection; Canada Life for certain lifestyles; AIG for added benefits.

“I also think — and this could be part of the FCA review — that in some areas the market is stuck. There are issues that need fixing but there is no first-mover advantage in fixing them, and you can’t all move at the same time because that is anti-competitive. So, some issues aren’t getting fixed.”

In August, the FCA announced a ground-breaking review of the protection sector. It said it would explore protection products, the competitive constraints on insurers and intermediaries, and potential conflicts of interest in the structure of commission.

The review is the latest in the regulator’s drive to ensure financial services firms deliver fair value and good outcomes for customers.

The UK protection market is lucrative but cut-throat

“Consumers should be able to buy products that meet their needs and provide fair value,” says FCA executive director of consumers and competition Sheldon Mills.

“We have seen indications that this may not be the case across the pure protection market, and we will act if we find the market is not working well.”

The FCA review will start later this year. It is a daunting task ­— but the protection market needs fixing to ensure more innovative products, better customer service and stronger competition.

Momodou Musa Touray is senior reporter

This article featured in the October 2024 edition of Money Marketing. 

If you would like to subscribe to the monthly magazine, please click here.

THREE major supermarkets have revealed the exact dates you can book Christmas delivery slots.

With the big day just 75 days away many households are keen to get preparations underway.

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In the last few years, the demand for getting your festive food shop dropped at your door has surged.

Shoppers have gone wild for the service as it helps take the pressure off an already stressful time.

But many are aware that bagging a slot during the festive period is notoriously difficult.

So it is worth being aware of the key dates of your favourite grocer so you are not disappointed.

Sainsbury’s

Sainsbury’s has today confirmed when customers can book a slot for their Christmas shop to be delivered.

Loyal customers who have the supermarket’s “Delivery Pass” get first dips and will be allowed to book home delivery and click and collect from Wednesday, October 16.

Delivery Pass holders pay a flat rate to Sainsbury’s to get their orders for free at all times of the year.

Meanwhile, non-pass holders will be allowed to book slots from the following week, Ocotber 23.

Both can schedule deliveries for between December 18 – 24.

Christmas delivery slots open on October 16 for Delivery Pass customers and 23rd October for all customers.

Customers can amend their baskets until 11pm the day before their order is due. 

Waitrose

The posh grocer has already allowed its customers to start booking slots for Christmas.

It costs £4 to book a slot and orders must be over £40.

But if shoppers are keen to get their Waitrose shop delivered to their home they should act fast.

Most of the slots from Sunday, December 22 to Tuesday, December 24 are fully booked.

Dates are still available for Friday, December 20 and Saturday, December 21.

Asda

The UK’s third-largest grocer also announced today when shoppers could secure their booking.

Like Sainsbury’s Asda is giving its delivery pass customers a head start to book their slot.

Customers who pay for this feature can book their slots for Christmas from October 15.

Meanwhile, non-pass holders can book their slot from October 22.

The supermarket said that over one million home delivery and click-and-collect slots will be available in the week leading up to Christmas.

The minimum online spend at Asda is £40 for delivery and £25 for click and collect.

Shoppers can also make changes or additions to their basket up until 11pm the night before their delivery or collection.

When do other retailers’ slots open?

It’s not just Waitrose, Asda and Saisnbury’s which offer this service to their customers.

Tesco said this month that its annual delivery pass customers can book their slots from 6am on Tuesday, November 5.

This gives customers a one-week head start on regular shoppers, who will have to wait until November 12 to nab a slot.

But if you also want to get ahead of the game, you can still sign up to the delivery plan by Monday, November 4.

Meanwhile, Morrisons has already started taking bookings with slots open now.

The same goes for Ocado with the pure-play online retailers offering customers the chance to book slots from as early as September.

M&S also launched its food-to-order service and the end of September, with slots filling up immediately.

The service lets you book and pay for your Christmas dinner and other snacks ahead of time and then collect them closer to the big day.

Orders this year can be collected on December 22, 23 or 24 in your local M&S Food Hall.

For Iceland, shoppers will be able to book delivery slots from around the middle of December.

You can read more about how this works by clicking the link here.

Money Marketing’s Weekly Must-Reads: Top 10 Stories

This week’s top stories cover Chancellor Reeves’ Budget struggles and potential changes for self-employed advisers. Read on for more:



Chancellor Reeves ‘wrapping herself in a straight jacket’ ahead of Budget

Chancellor set to scrap plans to change pensions tax relief

Rachel Reeves is expected to scrap plans to alter pensions tax relief in the upcoming Budget, as reported by The Times.

Previously, there was speculation that Reeves might switch to a flat tax relief rate to address the £22bn financial shortfall. This change could have benefited basic-rate taxpayers but penalised higher earners.

Experts now suggest the government may instead introduce a “death tax” on unused pension funds and reduce employer relief on National Insurance contributions.

True Potential hires new CEO from Tesco Bank

True Potential has appointed Tesco Bank CEO Gerry Mallon as its new chief executive, replacing co-founder Daniel Harrison, who is stepping down after seven years.

Mallon, who led Tesco Bank for over six years, will assume the role in early 2025, pending regulatory approval. In the interim, chief information officer Jeff Casson will act as CEO. Mallon brings extensive experience from roles at Ulster Bank, Danske Bank and McKinsey & Co.

True Potential’s chairman praised Mallon’s credentials and commitment to client-centric values.

Aviva completes £1.5bn annuity transaction

Aviva has completed a £1.5bn bulk purchase annuity buy-in with the Michelin Pension and Life Assurance Plan, securing the benefits of around 15,000 members.

The transaction, finalised in September 2024, included an in-specie asset transfer. Aviva’s CEO of insurance, wealth and retirement, Doug Brown, highlighted the firm’s strength in large-scale pension transactions. The Michelin Pension Trustee, advised by XPS Group, expressed satisfaction with the deal’s security improvements for members.

Aviva manages assets worth £398bn and serves 19.5 million customers.

Is time up for the self-employed adviser?

The use of self-employed advisers in financial services may soon face increased scrutiny, following the IR35 case against ex-rugby player Stuart Barnes, who was left with a £700,000 tax bill.

Employment lawyer Claire Holland warns that many self-employed adviser contracts might not pass HMRC’s employment status tests. Key concerns include personal service, control and client ownership.

Firms heavily reliant on self-employed advisers should consider alternative business models, as HMRC could soon focus on the financial services sector, mirroring actions in other industries.

FCA to probe consolidation in advice market

The Financial Conduct Authority (FCA) has announced a review of consolidation in the advice market, noting an uptick in firm acquisitions over the past two years.

In a letter to advice and investment firm leaders, the FCA acknowledged that while consolidation can be beneficial, it may also lead to risks if not managed prudently.

The regulator plans to assess the suitability and financial soundness of acquisitions, urging firms to seek approval before completing transactions. Firms must prioritise good outcomes and conduct thorough due diligence, especially if acquisitions are debt-funded.

AJ Bell strengthens senior leadership team with two appointments

Mark Dampier: Why active management is really over

Mark Dampier argues that active management in the asset management industry is facing unprecedented pressure as passive funds gain dominance.

Historically, active funds were recommended for their commission structures, but recent changes have shifted investor preference towards cheaper passive options, particularly following the Retail Distribution Review and Consumer Duty regulations.

With passive funds outperforming most active funds over the past 15 years, and the growing influence of large US companies in global indices, Dampier anticipates significant consolidation within the active management sector.

Behind the Headlines: FCA consolidation review is a ‘wake-up call’ for buyers and sellers

The Financial Conduct Authority (FCA) has announced a review of consolidation in the advice market, which has become increasingly relevant amid recent activity.

As firms seek to sell before anticipated capital gains tax increases, the FCA warns buyers and sellers to ensure rigorous due diligence and regulatory compliance. The review aims to assess the suitability and financial soundness of acquisitions, stressing that poor practices could harm consumers.

Experts suggest that this is a timely move for the FCA, given evolving market dynamics and the need for updated guidelines.

‘Selling your advice firm should be the last option’

Advice firm owners should consider selling their businesses as a last resort, said Roderic Rennison from Catalyst Partners during a recent session at Money Marketing Interactive.

He advised exploring alternatives like management buyouts (MBOs), employee ownership trusts (EOTs) or family succession before deciding to sell. Rennison highlighted the importance of having a written growth strategy and warned that the sale process involves more than just the transaction itself.

Integration challenges post-sale can impact staff morale and deferred payments, making careful planning essential.