Understanding the Value of Protection
Understanding the value of protection Working out the difference between life insurance, critical illness, income protection and buildings and contents insurance can be difficult, especially when they are wrapped up in the blanket term ‘protection’. While it’s easy to presume there is an overlap and that an individual policy for each one isn’t necessary, they […]
In the News
CREDIT CARD DEBT AT ALL-TIME HIGH Bank of England statistics show the total amount of UK credit card debt now stands at a record £72.9 billion, as lower interest rates have driven a decade-long consumer borrowing binge. The data also confirms, however, that a slowdown in the growth in borrowing that has been evident for […]
Premium for top university city homes
The higher-than-average house price growth in top university cities is making it difficult for talented individuals to stay on and work locally after graduation. Research4 has shown that in the period 2009 to 2018 house prices in London have risen 76.3%, in Cambridge 73.4% and in Oxford 66.8%. This represents growth 25% higher than the national […]
Too stressed to move home?
What’s putting you off moving? Setting aside a sluggish property market, it seems that, for many of us, it’s the thought that the process is just too stressful. The costs, finding a new mortgage, lack of certainty about a new area or a fear of the unknown has put off 60% of homeowners1 placing their current […]
How much do you need to retire comfortably?
People on an average salary who wish to retire at the age of 65 will now typically require a pension pot of almost £450,000 in order to fund their retirement until they are 100 years old, recent analysis has found1. Never too early to start saving The research also shows that an individual who starts […]
Leasehold homes – what you need to know
In the UK, flats are commonly owned on a leasehold basis, while houses are normally sold as freehold properties. Many leases are granted on a 99-year basis, while some can run for as long as 999 years. If you buy a leasehold property, you’ll own the property but not the land it stands on. […]
Long-term mortgages – a boon or a burden?
Traditionally mortgages were for 25 years, but nowadays many loans on offer have a standard maximum term of 40 years. Longer-term mortgages have the advantage of lower monthly repayments, making them more affordable, especially if you are struggling to get onto the housing ladder. However, the downside is that by the end of the term, […]
In the news…
SELF-STORAGE INSURANCE CONCERNS Some home insurance policies provide cover for ‘items temporarily removed’ from your home, although there may be a time limit, typically 30 to 90 days, and you need to inform your insurer when you deposit items in a storage facility. MPs have raised concerns about the insurance policies that storage companies insist […]
Generation X top the pensions saving chart
Information from HMRC shows that those aged 43 to 54, often referred to as Generation X, account for the largest proportion of the UK’s personal pension contributions, equating to 43% of total contributions made in the 2015–16 tax year, the latest year for which data is available. However, there are fears that they are still […]
Saving £2,880 a year could provide a retirement windfall for your child
Planning ahead and starting early can really help when it comes to building up wealth for children. Current pension rules, which could change in the future, allow a parent to put up to £2,880 a year into a pension for a child. Tax relief means that this is then topped up to £3,600. If a […]