Grounds for economic optimism as we journey through the autumn
Although the strength and speed of the global recovery over the first half of this year exceeded most expectations, the economic outlook inevitably remains uncertain. However, while future growth prospects are likely to stay closely linked to the future path of the virus, as we journey through autumn there do appear to be grounds for […]
Housing and mortgage recovery to remain strong
Despite challenges presented by the pandemic, the housing and mortgage market is expected to remain robust, with gross mortgage lending projected to reach £285bn this year. The revised figure from the Intermediary Mortgage Lenders Association (IMLA) has been uplifted from a previous forecast of £283bn. The predictions follow a surge in mortgage lending, stimulated by […]
Long-COVID pension pot peril
The pandemic has affected almost everyone in myriad ways, whether medically, socially or financially; its death toll has been appalling and overshadows all other consequences. The vast majority have fortunately come through the pandemic, but the speed of recovery from its consequences has been variable. Medically, many patients have recovered well, but some with prolonged […]
Do you know your home’s true worth?
Most people have a rough estimate in their head of how much they could sell their home for if they ever decided to move – but how accurate is it? In a survey1, nearly half (45%) of homeowners undervalued their property by £46,305 on average, while 25% overestimated by an average of £44,313, with under […]
Rising inheritances and deficit may hasten IHT change
In 2018, Chancellor Philip Hammond asked the Office of Tax Simplification to review Inheritance Tax1. However, subsequent events have meant that the tax regime for transfers of wealth between generations has not been revised, though Mr Hammond’s next-but-one successor Rishi Sunak could yet dust-off two OTS reports2. A big deficit caused by the pandemic points […]
Equity release availability hits record high
The number of equity release products on the market is the highest it has ever been, with rates over two percentage points lower than five years ago. Data1 shows that the number of equity release products now exceeds 500 – the highest on record. The analysis also reveals that the maximum available LTV has remained […]
‘Secret accounts’ slow the probate process
According to the first Bereavement Index from probate software specialist Exizent1, many people fail to put their financial affairs in order before they die, leaving behind a ‘financial mess’ and a stressful experience for those tasked with administering their estate. The Index revealed that one in seven (14%) of those tasked with gathering the assets […]
Taking the emotion (and colour!) out of investment decisions
The psychology of investing is fascinating. There are so many behavioural traps that investors may find themselves falling into as markets fluctuate and knee jerk reactions take hold. The anchoring trap is a prime example, where investors over rely on their perceptions of an investment which may be totally incorrect, rather than being flexible in […]
Social media and the younger investor
The Financial Conduct Authority (FCA) is concerned about the influence social media is having on younger investors, who it believes are taking on significant financial risks. This younger, more diverse group of investors, it said, is highly reliant on social media platforms such as YouTube, Instagram and TikTok for investment tips and advice, but lacks […]
Retirees tempted by ‘risky’ investments
A new study conducted by the Financial Services Compensation Scheme (FSCS) suggests the UK’s prolonged low interest environment is encouraging retirees to consider riskier pensions and investment products, which could ultimately result in them losing significant sums of money. Taking a risk The FSCS poll of 2,000 retirees aged 55 to 75, found that one […]