MORE than 100 Post Office branches and some 1,000 jobs are at risk under a sweeping overhaul.

The Post Office revealed it is looking to offload 115 directly owned branches within its 11,500 network, which could see them transferred to retail partners or postmasters or potentially closed.

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Around 1,000 workers are employed across the branches, while the Post Office also confirmed that hundreds of further roles are under threat at its headquarters as it looks to streamline back-office operations.

The announcement was made by Post Office chairman Nigel Railton during a meeting at 9am.

The move is part of the Post Office’s strategy to transition to a fully franchised model.

Franchising is a business model where a company (the franchisor) grants permission to an individual or group (the franchisee) to operate a business using its brand, products, and processes in exchange for a fee.

Approximately 99% of Post Office branches are now operated by franchisees, with only 1% of sites being directly managed.

The Post Office has stated that it does not plan to reduce its approximately 8,500 branches, which independent postmasters and local businesses operate.

Additionally, there are 2,000 Post Offices managed by retailers, such as WHSmith and the Co-op, which will remain unaffected.

Martin Quinn from Campaign for Cash said: “This is another nail in the coffin for communities who rely on the Post Office network for access to cash services.

“The government must immediately demand that this closure programme be stopped and treat the Post Office network as national infrastructure.”

The Post Office has also called for handing ownership of the network to thousands of subpostmasters nationwide.

Mr Railton said: “The Post Office has a 360-year history of public service, and today, we want to secure that service for the future.”

He added the overhaul also “begins a new phase of partnership during which we will strengthen the postmaster voice in the day-to-day running and operations of the business, so they are represented from the frontline to the boardroom”.

The number of Post Offices in operation across the UK has significantly declined since the 1960s, when there were approximately 25,000 branches.

This decline is partly due to more people receiving benefits and pensions directly into their bank accounts, reducing their need for the Post Office’s services.

Post Offices were once the sole providers of postage stamps, but now stamps can be purchased from supermarkets and petrol stations.

Over the past decade, the number of branches has stabilised at around 11,500.

Despite these changes, the 364-year-old institution remains wholly owned by the state and continues to be Britain’s largest retail network.

A spokesman for the Post Office said: “The plan intends to create a new operating model for the business that means ensuring the Post Office has the right organisational design.”

But the Communication Workers Union (CWU) union called on the Post Office to halt the plans and for the Government to intervene.

CWU general secretary Dave Ward said: “For the company to announce the closure of hundreds of Post Offices hot on the heels of the Horizon scandal is as tone deaf as it is immoral.

“CWU members are victims of the Horizon scandal – and for them to now fear for their jobs ahead of Christmas is yet another cruel attack.”

TROUBLED TIMES

It comes after it was revealed that government ministers are exploring plans to transfer ownership to employees, similar to the model used by the John Lewis Partnership.

It is based on the idea that its workers are each part-owners of the company and receive a share of annual profits.

Whitehall insiders admitted that the Post Office is in a lot of trouble and is only financially viable because of an annual subsidy it receives from the government.

Calls for a review of the company’s ownership model have grown amid rising public anger at the wrongful conviction of hundreds of sub-postmasters.

Highlighted by the ITV drama Mr Bates vs The Post Office, it has been labelled Britain’s biggest miscarriage of justice after they were accused of stealing cash from their branches.

Many had their lives destroyed, were imprisoned, and some even passed away or committed suicide before finally being exonerated.

Former sub-postmaster Sir Alan Bates, who tirelessly campaigned for justice, is still waiting to agree on a compensation settlement and has called on the government to consider suing former directors of the company.

MORTGAGE borrowers are being hammered with higher costs as major lenders hike rates and pull top deals despite a recent cut to the Bank of England base rate.

In a blow to buyers, HSBC, Barclays, Santander and Nationwide are among the big lenders that have upped prices this week.

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Over the past month around 200 deals have disappeared from the market, in the biggest month-on-month reduction since July 2023, according to analysis from data site moneyfactscompare.co.uk.

In a blizzard of price increases this week, Nationwide has pushed up rates putting an end to its sub 4% products.

HSBC has now hiked rates twice within as many weeks.

At the same time, Santander has also raised for new and existing customers by up to 0.31%.

It comes after the Bank of England last week cut the base rate from 5% to 4.75%.

A reduction in central interest rates usually marks a fall in borrowing costs.

Yet, in an unexpected and unwelcome twist, mortgage borrowers are now seeing costs rise.

The average two-year fixed mortgage rate today is 5.44%, pushed up from 5.39% shortly before the Bank of England base rate reduction, according to data from moneyfactscompare.co.uk.

At the same time, the average five-year fix now sits at 5.17%, up from 5.09%.

Experts said the lenders are pulling back from the market to avoid being overwhelmed by demand in the wake of the cut.

Nicholas Mendes, technical director at broker John Charcol, said: “While many lenders have opted to maintain their existing rates to preserve business volumes and service standards, those offering competitive pricing have been forced to adjust likely due to applications levels.

“These influxes often stretch service levels, prompting rapid rate changes to manage demand effectively.”

Market rates typically used by lenders to price mortgages have also been increasing.

John Fraser-Tucker, head of mortgages at online broker Mojo Mortgages, said: “While the Bank of England’s decision to lower the Bank Rate last week might lead some to expect across-the-board reductions in mortgage rates, it’s important to understand that the mortgage market doesn’t always move in perfect sync with the Bank of England’s base rate decision.

“Fixed-rate mortgages, in particular, are influenced by a complex array of factors beyond just the Bank Rate. These can include the lender’s own funding costs, their view on future economic conditions, competitive positioning in the market, and even their internal goals for new business.”

Here is the full list of major lenders that have hiked rates this week…

BARCLAYS

From tomorrow (November 14) Barclays is increasing rates across purchase, remortgage and reward ranges.

Among other increases, the change will see a two-year 5.15% fee-free fix at 90% loan to value, jump to 5.49%

HSBC

In the second increase to rates in two weeks, HSBC has today raised the cost on selected two, three, five and 10-year deals.

The rise hits first-time buyer, home mover and existing customers switching deals.

COVENTRY BUILDING SOCIETY

The lender is tomorrow (November 14) raising tracker mortgage rates for buy-to-let borrowers, as well as closing applications to new borrowers.

NATIONWIDE

This week’s increases from the lender means that most of its sub-4% rates will also go above 4%.

For example, its five-year fixed rate deal with a £999 fee has jumped from 3.94% to 4.14%.

SANTANDER

Santander has upped rates by 0.29% on residential fixed rates for purchase, remortgage, and green products.

The move is u-turn after reducing some rates earlier this month.

TSB

TSB is upping rates up to 0.3% on selected two- and five-year deals. This includes first-time buyer and homemover deals, as well as remortgage products.

Rates now start from 4.32% for new customers.

It comes after the lender also increased selected rates by 0.10% two weeks ago.

VIRGIN MONEY

The lender has raised selected two and five-year rates by up to 0.15% this week.

Products now start from 4.29%.

RATE CUT

One smaller lender that has bucked the trend and reduced rates is MPowered Mortgages.

All of its two and three-year fixed rate mortgages have fallen by as much 0.28% for new purchase and remortgage customers.

For new purchase customers, the lender’s two-year fixed rates now start at 4.21% for 60% LTV with a £999 fee and three-year fixed rates start at 4.19% at 60% LTV with a £999 fee.

Should borrowers fix now or wait?

The volatile market could be a worry for anyone looking to move home or fix their mortgage in the coming months.

Most mortgage offers have a shelf life of up to six months, meaning that if you apply for a deal now the lender will honour the rate even if you don’t need it until early next year.

This is a good way to lock in rates and avoid added costs if prices keep rising.

If rates happen to fall in the mean time, you can then apply for another deal further down the line.

Nicholas Mendes said: “For clients nearing the end of their fixed-rate terms, it’s essential not to delay in the hope that rates will revert to levels seen weeks ago.

“Securing a deal now provides certainty in an uncertain market. There is always the option to review and adjust if circumstances change but acting promptly minimises exposure to further rate increases.”

MILLIONS of consumers with a mental or physical disability feel excluded from products due to accessibility issues from food packaging to clothing design and store layouts.

A poll of 1,000 adults with invisible and visible disabilities revealed over two-thirds (68%) have felt ignored by retailers and manufacturers.

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And 55% believe mainstream brands simply aren’t interested in making products that cater to their individual needs.

With some of the top issues being food packaging, which is hard to open, clothes which have poor sizing or awkward fastenings and stores with high shelves and poor lighting.

As a result, 76% are loyal to companies who offer a good range of accessible option.

While 80% claim brands could be missing out on millions of pounds worth of sales by not considering disabled consumers.

The spending power of disabled people and their households, known as the purple pound, is estimated to be worth a staggering £274 billion a year.

It also emerged that while 32% don’t expect to see a change from those in the fashion or transport sectors anytime soon – technology has made pace.

With the top tech innovations for people with a disability named as virtual assistants, smart home devices and wearable devices for health monitoring.

Katharina Mayer, head of LifeStyle Lab Europe at Samsung, which commissioned the research, said: “This research has highlighted the huge opportunity for brands to better understand the accessibility needs of consumers to provide greater access for people with disabilities in the UK.

“Companies are rarely able to test their ideas with diverse people with different needs, but this is a must”.

It also emerged 72% of those surveyed have had to abandon a purchase due to a product’s lack of accessibility.

But 56% would be willing to pay more for a product or service that fully met their accessibility needs.

When it comes to online shopping, 80% struggle with websites that are not optimised for accessibility.

While 30% battle through a poorly designed checkout process, and 22% bemoan a lack of text descriptions for images.

Samsung’s spokesperson added: “It’s time to re-write this narrative.

“When designers consider varied needs from the beginning, they don’t just serve people with disabilities – they create solutions that benefit everyone and that is the approach we take to inclusive design at Samsung.”

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MILLIONS more drivers could be owed compensation in a car finance mis-selling scandal after a landmark legal case.

Lenders are set to be given more time to look at complaints after a court decision opened the floodgates to more claims.

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The Financial Conduct Authority (FCA) launched an investigation at the start of the year into whether motorists were unknowingly overcharged when they took out a loan to buy a car.

This focused on Discretionary Commission Arrangements (DCAs) which gave dealerships an incentive to push customers towards pricier financing deals.

Those who bought a car, motorbike or van on finance before January 28, 2021 (when DCA was banned) could be owed thousands of pounds.

Now the regulator has set out plans today to extend the deadline by which lenders have to respond to complaints.

It follows a Court of Appeal ruling last month that a broker could not lawfully receive a commission from the lender without obtaining the customer’s fully informed consent to the payment.

The decision applies to more types of commission and not just DCA, meaning more drivers could be owed cash.

The FCA said firms are likely to receive a “high volume” of complaints following the judgment and that an extension is needed to deal with claims.

Close Brothers and Firstrand, the subject of the case, intend to appeal the Court of Appeal’s decision.

The watchdog also said it will write to the Supreme Court asking it to decide quickly whether it will permit lenders to appeal.

In a statement published this morning, the FCA said: “Any complaint extension would allow them time to consider how these might be efficiently and effectively handled.

“This would help prevent disorderly, inconsistent and inefficient outcomes for consumers making complaints, motor finance firms and the market.”

Proposals are expected to be published in two weeks, which would mean the complaint extension is in place by mid-December.

Following the news today Money Saving Expert Martin Lewis has weighed in on what it means for drivers.

Writing on X, formerly known as Twitter, he said: “It signals that the FCA is paving the ground to in future broaden the scope of its car finance investigation, so not only at the 40% of past claims that had DCAs (where dealers could increase their commission by increasing interest) but all commissions including fixed commissions.”

Martin also said that it essentially means that “almost everyone” who has had car finance deals may have a complaint and be due money back.

He explained: “This potentially more than doubles the number of people involved, and would really start to look more like PPI scale of payouts (and a substantial threat to the car finance industry).”

The Payment Protection Insurance (PPI) scandal saw 16.5million people handed payouts totalling £38.3billion after banks and other financial institutions mis-sold PPI policies to millions of customers between 1990 and 2010.

The FCA has been unable to confirm how many people will now be possibly owed cash.

Alex Neill, co-founder of consumer rights group Consumer Voice said: “The financial regulator has signalled it will allow motor finance providers more time to consider how to deal with complaints about all secret commissions, not just those that are discretionary.

“This is big news for consumers as it could mean significantly more money is owed to more people.”

“Anyone who has already been told by their finance provider they didn’t have a discretionary commission on their loan should now be asking if any commission at all was applied. If it was, they may be owed compensation.”

Delayed investigation outcome

The FCA had planned to publish the outcome of its investigation in September.

However the publishing date has been pushed back to May next year and the date firms have to respond to customer complaints to December 4, 2025.

It’s worth nothing, the FCA’s decision to extend the deadline to December 4 next year is just when firms have to respond to any complaints.

Customers can still complain to their providers before this point, and in some cases, there are time limits for doing so.

You can find more information about any time limits on the FCA website.

What is the Car Finance Discretionary Commission Scandal?

The Car Finance Discretionary Commission Scandal affects those who bought a car, motorbike or van on finance before January 28, 2021.

After this date, the city watchdog the FCA banned lenders from using “discretionary commission arrangements” (DCAs).

DCAs allowed brokers to increase interest rates on car finance loans, which in turn saw their commission bumped up.

It has been classed as an unfair practice because drivers weren’t told about the DCAs and therefore thought any deals were a fixed price that they couldn’t negotiate on.

Anyone who took out a vehicle on finance before January 28, 2021, could have been unfairly paying more than they should have.

The FCA has now launched an investigation to see how many people have been impacted.

MSE’s website has a useful checklist on who might be in line for money back.

It also has a list of firms that are unlikely to have handed out dodgy deals and therefore don’t owe customers money.

Among the major lenders which could be set to pay out compensation are Lloyds Banking Group, Bank of Ireland, Investec and Santander.

These banks are said to have set aside millions of pounds to help cover the costs of the payouts since the court case in October.

The Royal Bank of Canada has estimated that the industry’s bill for motor finance compensation could stretch to £13billion.

How to claim

Consumer website MoneySavingExpert.com has a page on its website with an email template you can use to complain to your firm.

Or, you can complain directly to them without using the template.

It’s important to note that anyone who took out car finance should make a claim.

Plus those who claimed previously but had it turned down before should try again.

In the complaint, you should ask whether you were overcharged due to your broker getting paid a commission and ask the company to correct this if that is what happened.

If you’re not satisfied with the company’s response, you can take your complaint to the Financial Ombudsman Service (FOS) for free.

You have until July 29, 2026, or up to 15 months from the date of their final response letter, whichever is longest.

Be wary of using a claims management firm to help you claw back any overpaid car finance as you’ll have to pay it a portion of any successful claim.

The FCA has previously said the total cost of redressing motorists impacted by the car finance scandal could cost firms between £6billion and £16billion.

It means affected customers could get potentially £1,000s back in overpayments.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

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A COUPLE’S home has been left in ruins after vibrations from a neighbouring construction site caused a terrifying Jurassic Park-style shake.

The Winstons, who moved into their dream home 10 years ago, say their lives have been turned upside down by the construction of a new development by Miller Homes right next door.

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Lynda and Stephen Winston claim their once peaceful home in North Yorkshire now shakes every time the builders get to work, leaving them with 149 cracks across their walls and a £20,000 repair bill.

The couple claims the building work has caused significant damage to their ceilings, ceramic floor tiles, and both internal and external brickwork.

To make matters worse, the dust from the site has rendered their garden unusable for four years.

The damage was reportedly caused by vibrations from a huge hole being dug for a stormwater tank.

Lynda told The Telegraph: “My cups of tea have the Jurassic Park effect.

“The pictures rattle on the walls. It’s as if the house is shaking from the inside out.”

Now, the Winstons are facing a whopping £20,910 bill to fix the damage – which involves replacing plasterboard, filling in hairline cracks, and redecorating every room.

But the developers have offered the couple just £1,000 in compensation, something Lynda says is a slap in the face.

She said: “My husband has a life-limiting heart condition and cancer, and the stress from this development contributed to him having a mini-stroke last year.

“They won’t even pay for scaffolding to fix the gable end of our house.”

The Winstons say the damage began when Miller Homes excavated a pit for a stormwater tank.

Lynda claims the vibrations started almost immediately and continued long after the excavation was finished.

She said: “It’s gone on for months.

“They promised vibration meters but they didn’t deliver.

“It’s as if they’re just brushing us off.”

The couple believes Miller Homes should have known that digging close to their property line would cause serious damage, and they say the developer should be footing the bill for repairs.

However, Miller Homes insists that the damage isn’t structural, with surveys showing only hairline cracks and “cosmetic issues.”

The company has tried to offer compensation, but the Winstons aren’t satisfied.

Lynda added: “I’ve never lived in a house in this state of disrepair. All the work we did when we first moved in has been wrecked.

“This isn’t cosmetic – it’s our home. It’s ruined.”

Neighbours aren’t faring much better.

Will Blue, who lives next door, claims vibrations from the site have also caused cracks in his home, a damaged ceiling, and several doors that no longer shut.

After spending £5,000 fixing the damage, he says Miller Homes refused to pay for the repairs.

Will said: “It’s the powerlessness of it.

“I just want to have a conversation with Miller Homes and sort this out. They’ve completely ignored us.”

A spokesperson for Miller Homes has said: “We regret that work at our Langley Gate development impacted a small number of neighbours.

“We regret that work at our Langley Gate development impacted a small number of neighbours and we have tried to work constructively with them on resolving the issues.

“A series of surveys, conducted by independent surveyors, have identified hairline cracks and minor cosmetic defects.

“We have offered payment to cover the work required and are committed to rectifying these issues through continued dialogue with the affected parties.”

But for the Winstons, the damage to their home is more than just cosmetic – it’s a painful reminder of the nightmare they’ve been living for the last few years.

Lynda said: “If it comes to it, I’ll stand outside Langley Gate with a placard, I’m not letting them get away with this.”

Meanwhile, they’re not the only couple suffering the effects of a nightmare neighbour.

Disgusted locals are demanding action after a “filthy” neighbour turned their home into a makeshift tip with tonnes of rubbish dumped on the driveway.

This comes as an electrician fears he’ll never be able to sell his home after his neighbour dug a 10ft hole in his garden next door.

He’s not the only one, another grandad claims he would struggle to sell his property because a bumbling neighbour ruined his garden.

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