In Short

A round-up of today's other stories in brief.

Warning on internet auction sites

The European Consumer Centre (ECC) is urging consumers to be vigilant when using internet auction sites. It reminded consumers that users of these sites are not protected by EU distance selling regulations.

ECC Dublin's report for 2005 shows that there was a significant increase in the number of complaints from consumers in relation to transactions made with other consumers contacted through internet auction sites like eBay.

Most of the complaints relating to fraud and non-delivery of goods in these transactions occurred when the consumers went offline and arranged a deal privately, which internet auction sites advise against.

EBS to advise clients as rates rise

EBS Building Society is advising borrowers to examine how they manage their mortgage in light of the European Central Bank's interest rate increases.

EBS head of mortgages Dara Deering said the lender was confident its borrowers would not be unduly burdened by rate rises because its loans were stress tested at a rate of two percentage points above the rates that exist when borrowers apply for their loan.

Ms Deering advised homeowners who see their disposable income increase to divert their extra cash into their mortgage.

"Managing a mortgage is all about keeping a close eye on cash flow. Ultimately, you will want to be free of your mortgage, certainly by retirement," she said.

BIK rules prompt new car policies

Employee benefit-in-kind (BIK) rules introduced two years ago have prompted companies to change their policy on company cars, accountancy firm PricewaterhouseCoopers (PwC) claims.

More companies are now offering a choice of a company car or a cash alternative, with some 40 per cent of organisations saying they are reviewing their policies this year.

A survey of firms by PwC suggests the average price for cars offered to senior managers is over €40,000, while the average annual cash alternative offered to middle managers is just over €10,000.