Home Finance – In the news
Buyers priced out Some 41% of participants in a recent survey1 agreed with the statement, ‘I cannot afford to live in the area I want or need to live in’. Many renters and homeowners alike were unhappy with their current location, with job opportunities (37%), proximity to friends and family (35%) and a better lifestyle […]
Money – In the news
Digital pound likely this decade The Treasury and the Bank of England have started consultations on a potential digital pound, or central bank digital currency (CBDC), that could be used by households and businesses instead of cash for everyday payments in-store and online. Chancellor Jeremy Hunt said, “We want to investigate what is possible first, […]
Equity release – on the rise again
An increasing number of older homeowners are choosing to release equity, latest figures1 reveal, with cost-of-living pressures still the main reason for tapping into the value of their home. Equity release allows over-55s to access some of the value of their home as tax-free cash. In total, homeowners used equity release to borrow £6.2bn in […]
Over 50 and re-joining the workforce? Remember your pension
It’s estimated that the number of people aged 50 to 64 who are economically inactive sits at 3.6 million, which is 300,000 higher than pre-pandemic1. There is no doubt that the UK’s economic growth will, in part, be reliant on getting the over-50s back into work. If you retired early but are now having second […]
Unaffordable deals trap mortgage prisoners
The Financial Conduct Authority (FCA) has been reported to estimate over a quarter of a million homeowners are trapped on mortgage deals because their lenders have become inactive or unable to authorise new products1. What could change? Many of these ‘mortgage prisoners’ are no longer able to keep up with repayments, prompting campaigners to reiterate […]
Rising prices add almost 20% to retirement costs
It can be difficult to understand what funds you’ll need to finance the retirement you dream about and how this compares to your projected pensions income. It’s even harder to keep track when the cost of living is spiralling. Setting standards The Pensions and Lifetime Savings Association (PLSA) developed its Retirement Living Standards1 to help […]
Mortgage holders impacted as Bank Rate rises again
Rising rates have been a feature of the mortgage market for almost a year. Following the latest Bank Rate rise, how should mortgage holders react? What happened? With Bank Rate at its highest level in 15 years, in the short term, this will affect anyone with a tracker or variable rate mortgage through higher repayments. […]
Take advantage of the new tax year
A new tax year has begun and with it comes the chance to start your tax planning early, but why rush when there’s almost a year to go? Here are a few reasons: Why not get the new tax year off to the best start – get in touch. 1Vanguard, 2023 The value of investments […]
How to sell your house this spring
If you’re planning to put your home up for sale, there’s a lot to think about right now. As the first daffodils start to bloom across gardens and verges, the housing market usually blossoms too. In 2023, with expectations of slowing demand and house price falls, it has never been more important to focus on […]
Downsizing on the up
Cost-of-living difficulties are forcing people to reconsider their housing situations, with a new survey1 showing that three in ten UK homeowners are considering saving money by moving to a smaller property, relocating or living with others. Race for space? After the pandemic-induced race for space, downsizing is back on the cards. Almost one in five […]