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 […]
Pensioners: The new generation rent?
We generally associate renting with the carefree 20 to 30-something age group who may be choosing to rent whilst saving up for a deposit on their first home, or simply prefer the freedom to move around that renting offers them. However, that view may now be rather outdated. One in every 12 private rental sector […]
Growing concern over car loan debt
The rapid rise in the amount of money being lent as car loans has given rise to concerns that this form of lending could, if left unchecked, lead to the next financial crisis. The amount borrowed annually to buy new cars has trebled over the past eight years, reaching more than £30bn last year. Nine […]
Financial Advice leaves people £40K better off
New research by the International Longevity Centre1 and Royal London has produced some interesting findings that highlight the benefit of advice when taking major financial decisions. The report demonstrated that those who receive financial advice are on average £40,000 better off than those who don’t. The report, entitled The Value of Financial Advice, looked at […]