Plan now for a comfortable retirement
It’s no secret that the pensions landscape has altered dramatically in recent years, with legislative changes giving people much greater flexibility when accessing their retirement income. However, coupled with State Pension age changes and increased longevity, this pension freedom has heightened the need to plan ahead in order to enhance future financial security. A well-structured […]
Property market overview
Over the last ten years, the average UK house price has risen 10% from August 2007, to £219,266 in July 2017. The average deposit has increased too, from £68,663 in 2012 to £96,109 in 2017. However, after several years of continued growth, the UK property market is now showing signs of slowing down. The housing […]
How employees can unlock ‘free’ pension cash
Millions of workers are spurning the opportunity to significantly boost their pension pots by failing to take advantage of ‘free’ matched contributions from their employers. Workplace pensions growth Rules introduced in 2012 obliged companies, broadly in order of size, to begin automatically enrolling most of their staff into a workplace pension. And data from The […]
What does it cost to move?
Moving can be an exciting but expensive time. Drawing up a budget will help you work out how much cash you will need for the fees you can expect to pay. The exact figure will depend on which rung of the housing ladder you’re on, whether you’re buying and selling, and which part of the […]
Long or short-term income protection – which is right for you?
Experts have long expressed their concerns for those who don’t have protection policies, fearing that millions of households could face real financial hardship if the main breadwinner was unable to work due to a serious illness, accident or unemployment. For those new to insurance, short-term policies can be a cost-effective way to get some cover […]
Pension freedoms – don’t lose out!
In the first major study to be conducted since the introduction of the new pension rules in 2015, the Financial Conduct Authority (FCA)1 reviewed the actions taken by pensioners who chose not to receive advice when accessing their pension pots. They flagged up several areas of concern. Common mistakes The FCA found that many people […]
Mortgages – bank of england tightens the rules
In a move that demonstrates the Bank of England’s determination to prevent lenders getting too complacent about current low interest rates, strict new rules on mortgage affordability have been announced. New tests to be applied The rules, often referred to as “stress tests”, were set out in the Bank’s Financial Stability Report. Lenders will be […]
Millennials: don’t overlook the benefits of insurance
Life can seem particularly tough for today’s 18 to 35-year-olds. Their employment prospects are likely to be far less certain than those of previous generations; it’s been suggested that they could have as many as a dozen different jobs during their careers. As for owning a home and having a family, these life stages are […]
Setting up companies leaves landlords out of pocket
In 2015, then Chancellor George Osborne announced measures that he hoped would ‘level the playing field’ for first-time buyers by reducing the many tax concessions available to buy-to-let landlords, deterring more from entering that market and encouraging some to sell their rental properties. Landlords accustomed to claiming relief worth 40% or 45% will find their […]
Is being loyal to your mortgage lender costing you money?
With interest rates at their lowest levels for some years, borrowers are often content to stick with their existing mortgage deal. However, new research from Citizens Advice reveals that being a long-standing loyal customer of your mortgage provider might be costing you money. What’s more, they calculated that 1.2m mortgage holders could be better off […]