Protection for your money
With the outbreak shocking nations around the world and impacting people’s finances, savers understandably want protection for any savings they may have. For UK savers, the Financial Services Compensation Scheme (FSCS) can provide a safeguard adding a valuable level of reassurance. If you have any money in an account with a UK authorised bank, building […]
You’re in safe hands
Buying a home is a major step that is much easier to take if you are well-informed and well-advised, regardless of whether you are a first-time buyer or someone who has moved before. Mortgage debt accounts for over 80% of total UK household liabilities, so finding a suitable mortgage is an important financial decision. Most […]
Know your numbers this tax year
It’s well worth being aware of the tax allowances and exemptions available in 2020–21 to be able to maximise them for your own individual financial planning. Here are a few figures worth knowing: Personal taxation The National Insurance threshold is now £9,500. The Personal Allowance remains at £12,500, while the £50,000 higher-rate threshold remains unchanged […]
Mortgage market update
Stamp Duty Holiday The recent Stamp Duty Holiday announcement in Rishi Sunak’s Summer Budget has come as a huge positive for all homebuyers, with many people now actively looking for a new property knowing they have a significant up-front saving given this great opportunity. To put this in context, the average stamp duty saving will […]
Time to remortgage?
Borrowers on a tracker, discounted or variable rate mortgage may have already benefited from base rate cuts in March, but borrowers whose mortgage deal is nearing its end, or those currently on a standard variable rate (SVR), should review their situation as there are some competitive products on the market. Remortgaging is where you take […]
Payment holidays – consider your options
Back in March, the Chancellor’s announcement, offering three-month mortgage payment holidays for homeowners experiencing financial difficulties due to the pandemic, came as welcome news to many. Mortgage lenders agreed with the Treasury that any customers in ‘difficulty’ would be eligible. Mortgage payment holidays have since been extended for a further three months to 31 October […]
Be vigilant and scam smart
There have been warnings from several UK bodies, including the Bank of England, National Crime Agency, and the Financial Conduct Authority (FCA) urging people to be vigilant. The warnings are aimed, in particular, at those who may have lost their jobs or are under financial pressure and may be tempted by scammers. Millions affected Over […]
Building financial resilience
One notable theme evident throughout the coronavirus lockdown has been ‘back to basics’ with people displaying an increased appetite for the simpler things in life. While not everyone has fully embraced Tom and Barbara’s ‘Good Life’ philosophy, home baking, gardening and knitting have all enjoyed a notable renaissance. Lockdown lessons Back to basics has also […]
Working from home – are you covered?
With millions more people across the UK now working from home, should you inform your insurer? The Association of British Insurers (ABI)1 has issued reassurance that, if you are an office-based worker now working from home because of government advice or because you are self-isolating, your home insurance cover will not be affected. The ABI […]
Property market: Where are we now?
In mid-May, the property market reopened after nearly two months of inactivity – and buyer demand surged. Almost immediately, the number of visitors to Rightmove soared back to pre-lockdown levels, with site activity reaching record levels on 27 May1. In its latest Housing Market Update, estate agent Savills welcomed this increase in activity; however, it […]