News

“We have to look forwards” Last week, the Bank of England (BoE) released the minutes of the latest Monetary Policy Committee (MPC) meeting which concluded on 4 August, during which members unanimously voted to maintain the base rate at a historic low of 0.1%. The MPC feel the current rate and monetary policy remain suitable, […]

With the outbreak shocking nations around the world and impacting people’s finances, savers understandably want protection for any savings they may have. For UK savers, the Financial Services Compensation Scheme (FSCS) can provide a safeguard adding a valuable level of reassurance. If you have any money in an account with a UK authorised bank, building […]

Buying a home is a major step that is much easier to take if you are well-informed and well-advised, regardless of whether you are a first-time buyer or someone who has moved before. Mortgage debt accounts for over 80% of total UK household liabilities, so finding a suitable mortgage is an important financial decision. Most […]

It’s well worth being aware of the tax allowances and exemptions available in 2020–21 to be able to maximise them for your own individual financial planning. Here are a few figures worth knowing: Personal taxation The National Insurance threshold is now £9,500. The Personal Allowance remains at £12,500, while the £50,000 higher-rate threshold remains unchanged […]

“Our assessment is that we should now squeeze that brake pedal” At a Downing Street briefing on Friday, the Prime Minister announced that further easing of lockdown restrictions in England was to be postponed for at least two weeks. This was one of several policy changes announced during the week which collectively aim to suppress […]

Stamp Duty Holiday The recent Stamp Duty Holiday announcement in Rishi Sunak’s Summer Budget has come as a huge positive for all homebuyers, with many people now actively looking for a new property knowing they have a significant up-front saving given this great opportunity. To put this in context, the average stamp duty saving will […]

Borrowers on a tracker, discounted or variable rate mortgage may have already benefited from base rate cuts in March, but borrowers whose mortgage deal is nearing its end, or those currently on a standard variable rate (SVR), should review their situation as there are some competitive products on the market. Remortgaging is where you take […]

Back in March, the Chancellor’s announcement, offering three-month mortgage payment holidays for homeowners experiencing financial difficulties due to the pandemic, came as welcome news to many. Mortgage lenders agreed with the Treasury that any customers in ‘difficulty’ would be eligible. Mortgage payment holidays have since been extended for a further three months to 31 October […]

There have been warnings from several UK bodies, including the Bank of England, National Crime Agency, and the Financial Conduct Authority (FCA) urging people to be vigilant. The warnings are aimed, in particular, at those who may have lost their jobs or are under financial pressure and may be tempted by scammers. Millions affected Over […]

“We have to strike a balance” Last week, the Prime Minister and his cabinet met in person for the first time since lockdown commenced in March. Opening the meeting, the PM said there will be “difficult months ahead for our people and our country but no-one will be without hope”. He continued, “For the next […]