Tesco Website and App Crash Disrupts Shoppers; New 100% Mortgages Launched
Consumers faced significant disruptions last Friday afternoon as Tesco’s website and mobile app experienced unexpected technical issues, preventing many shoppers from accessing the services they needed. The incident was reported just before 2 p.m., with numerous customers expressing their frustration on social media platforms after encountering an error message stating, "We’re sorry, but something went wrong. We have been notified about this issue. Please try and sign in again later. We apologise for any inconvenience caused."
Tesco’s Response
Following the outage, Tesco confirmed the problem was related to a software issue. A spokesperson for the supermarket chain stated, "We have fixed a software issue that temporarily impacted customers using our website and app this afternoon. We’re sorry for the inconvenience." The swift resolution of the issue aims to restore normal service just in time for the anticipated weekend shopping rush.
New Opportunities in the Mortgage Market
On a more positive note for potential homeowners, the mortgage market has seen some encouraging developments this week. April Mortgages has launched a new 100% mortgage product, allowing individuals to borrow the full amount required for their homes without needing a deposit. This move, welcomed by industry brokers, reflects ongoing efforts to enhance accessibility in the housing market amidst tightening financial conditions.
Following this, Nationwide has made headlines as the first major lender to reduce its stress test rates for applicants. This evaluation method assesses a borrower’s ability to withstand potential interest rate increases. The adjustment means that applicants could potentially borrow an average of £28,000 more than before, a shift that could significantly ease the pathways for first-time buyers and others struggling with affordability.
David Hollingworth, a director at L&C Mortgages, noted that customers who were previously deterred by stringent lending criteria may find that affordability assessments are now more favorable. "Customers with concerns that they wouldn’t meet a new lender’s criteria… could find that affordability is now more generous than they thought," he explained.
Ongoing Cybersecurity Challenges
In other financial news, the retail sector continues to grapple with cybersecurity threats. Marks & Spencer and the Co-op are still addressing aftershocks from recent cyber attacks. Meanwhile, luxury brand Dior has also confirmed a breach of its systems, during which hackers accessed customer data, although there were no reports of financial information being compromised. The Co-op has assured customers that it is now in the recovery phase following its own cyber attack.
Market Insights
For those planning to go out for drinks this weekend, a recent report highlighted the varying average costs of pints across the UK. London remains the most expensive city, with the average pint costing £5.44, while Wales boasts the lowest prices at approximately £4.21. ### Additional Financial News
In further news affecting the financial landscape, it was revealed that retirees were collectively underpaid £450 million in state pensions last year due to government errors. This marks a slight decrease from £470 million in the previous financial year, with six in every hundred claims reported as underpaid. The government has urged those affected to check their records for potential eligibility for back payments.
Meanwhile, discussions are underway regarding the potential reduction of the tax-free cash ISA allowance, as UK ministers explore ways to manage the country’s fiscal challenges.
Closing Reminders
As we head into the weekend, consumers are encouraged to take advantage of various money-saving tips, including recycling empty beauty products, which can provide extra cash. Keep an eye out for more updates on Friday as financial specialists offer insights into sudden shifts in gold prices that may influence insurance policies.
For ongoing updates and expert financial tips, visit the Money blog hosted by Sky News, your trusted source for the latest in consumer and personal finance news.
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