4.2 • 804 Ratings
🗓️ 13 March 2021
⏱️ 35 minutes
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A senior MP tells Money Box it’s “appalling” that house developers are asking some customers to sign non-disclosure agreements as a condition of fixing serious defects with new homes. A new report this week claims there are still around 250,000 mortgage “prisoners” - people trapped on high-interest mortgages. And what to do if something goes wrong when you try to buy goods and services on Instagram.
Presenter: Paul Lewis Reporters: Dan Whitworth and Jonelle Awomoyi Researcher: Sowda Ali Production co-ordinator: Janet Staples Producer: Simon Maybin Editor: Rosamund Jones
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0:05.4 | My name's Katie Lecky and I'm an assistant commissioner for on demand music on BBC Sounds. |
0:10.8 | The BBC has an incredible musical heritage and culture and as a music lover, I love being part of that. |
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0:41.3 | BBC Sounds, music, radio, podcasts. Hello, welcome to this Moneybox podcast. |
0:44.3 | A new report says a quarter of a million people who were sold expensive mortgages that wouldn't be allowed today |
0:50.3 | say they still can't escape them despite government promises of help. The dangers of |
0:56.5 | buying things through social media, where protection for mis-selling can be non-existent, |
1:01.5 | and the businesses that are told they must charge VAT, but they can't do that without a VAT number. |
1:08.1 | And guess what? There are long delays in getting one. But first, a senior MP has |
1:13.2 | told this programme, it's appalling that people with major defects in their new homes are being |
1:18.4 | told by developers they must sign secrecy agreements before the problems will be fixed. We'll hear |
1:24.1 | from that MP, Clive Betts, shortly. But first, Moneybox reporter Dan Whitworth |
1:28.8 | has been looking into the use of these non-disclosure agreements in the house-building industry. |
1:34.3 | Dan, what have you found? Well, Paul, hard numbers about non-disclosure agreements or NDAs being |
1:40.5 | used like this are very difficult to come by. NDAs are also known as gagging orders. So, |
1:46.4 | obviously, people who sign them, well, they're very worried about speaking out because of the threat |
1:51.0 | of legal action. But I've contacted several industry experts, people with years of experience |
1:56.8 | in both the house building industry, and when it comes to helping people whose new houses have |
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