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 However, that view may now be rather outdated.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 […]
Simply Money Newsletter Summer 2017
WHY THE SELF-EMPLOYEDNEED A PENSION NUDGE Working for yourself has never been so popular. According to figures from the Office for National Statistics, there are around 4.8 million self-employed workers in the UK. Whilst many of this number are young people seizing the opportunity to go it alone, some are in their 50s, 60s and […]
Simply Home Finance Summer 2017
HOW THE HOUSING MARKET MUST CHANGE TO MEET NEW NEEDS The arrival of the summer months is usually a busy time for estate agents. However, it seems that the market is being held back by a lack of supply. In their April survey, the Royal Institution of Chartered Surveyors reports that there is a marked […]
U-turn on probate fees
Ahead of the general election, the government postponed plans for a sharp rise in probate fees. Obtaining a grant of probate is the process by which someone is given authority to deal with the property, money and possessions of a person after they die. It is usually applied for by the executor of a Will […]
What will baby boomers do with their wealth?
WHAT WILL BABY BOOMERS DO WITH THEIR WEALTH? Although it has been suggested many grandparents are spending the kids inheritance, research1 shows that they are much more likely to be focused on passing money on to the next generation. Indeed, fears have been voiced that they are often putting the needs of other family members […]
Does your mortgage need a makeover?
With interest rates remaining low, and many lenders offering competitive deals, this could be a good time to review your existing mortgage arrangements. The monthly mortgage repayment is often a family’s major outgoing, so it’s a good idea to review your mortgage from time to time to see if there’s a better deal currently available […]
Trends in living
Owning your own home is a desirable goal for many people. However, over the last few years, property prices have kept on rising most of the time, putting the home-owning dream beyond the reach of many. Home ownership has fallen in percentage terms and a higher proportion of home owners than ever before are aged […]
The trouble with the triple lock
The “triple lock” was introduced in 2010 by the coalition government. It’s the government’s guarantee that the state pension will increase each year by whichever is the greatest of CPI inflation, average earnings or 2.5%. Its future looks slightly more certain following the Conservative pact with the DUP. With an ageing population, the cost of […]