Later life mortgage borrowing has become standard practice for many
The mortgage landscape has changed in a number of fundamental ways over the last few years. Diverse factors such as the increase in house prices, students leaving university with larger debts, the trend towards couples buying their first homes and starting their families later in life, the ability to access pensions from age 55, are […]
Over 50s neglect pensions – choosing to rely on inheritance or lottery wins
There’s increasing evidence that those aged over 50 are postponing making plans for their retirement, often relying on factors out of their control like a premium bond win or receiving money on the death of elderly relatives. Others plan on selling their current property and downsizing to release cash for their retirement. However, that’s not […]
Equity release topped £3bn in 2017
Many people approach retirement owning a family home and want to benefit from the cash tied up in what’s probably their biggest asset. For some, the thought of downsizing and moving in later life to release cash is too daunting to contemplate. An equity release plan allows you to turn some of the capital value […]
Dividend allowance reduction from April 2018
In the Summer Budget 2015, the government announced that dividend taxation would be reformed from April 2016 by replacing the Dividend Tax Credit with a £5,000 dividend allowance, and increasing the rates of tax payable on dividends in excess of the new allowance by 7.5 percentage points in each band, to 7.5% for basic rate, […]
Airbnb – Implications for home insurance
Airbnb is an amazing business success story – there are now more than four million homes listed around the world. But homeowners who list their property on Airbnb or similar sites need to think carefully about their insurance position, as when they have a tenant in their property, they may not be insured under the […]
First time buyers use stamp duty savings to cut mortgage costs
Low mortgage rates, high levels of employment and government schemes, such as Help to Buy, are all helping first-time buyers enter the housing market. The recent abolition of Stamp Duty for a majority of first-time buyers looks set to provide additional help by reducing the upfront costs associated with making a first home purchase. STAMP […]
Five personal finance habits we should all adopt
While most of us think we’re pretty good with our money, we can all benefit from giving our finances a regular health check. If you’re looking to get to grips with your finances and develop better habits, then setting yourself some financial goals and drawing up a budget is a good way to get motivated. […]
More homeowners climbing the ladder
There’s some better news for those who are looking to make their move up the housing ladder. Second-steppers, as they are often referred to, are mostly couples and young families seeking to move on from their first home to somewhere bigger. Figures from Lloyds Bank1 show that more than 370,000 homeowners were able to step […]
The hidden cost of retirement properties
In the glossy brochures often used to promote them, retirement complexes can look very attractive. With rising life expectancy meaning that many more of us are likely to live well into our 90s and beyond, they can be an appealing proposition, especially for those who don’t have immediate family to look after them. THE ADVANTAGES […]
Borrowing age elevated by extra-long mortgages
The traditional 25-year mortgage may soon be a thing of the past as many firsttime buyers are choosing loan terms of 30, 35 or even 40 years. Data from estate agents Countrywide1, shows more than one third of mortgages taken out in 2017 are unlikely to be repaid until after the borrower has turned 65. […]