Trends in baby boomer retirement plans
Living through decades of increasing prosperity has undoubtedly given baby boomers a lot of advantages, but they can also face a number of challenges. Today, many feel pressured into working past their normal retirement date, often because of the number of demands being made on their finances by their families. If they are unable to […]
Gifting early to avoid IHT
With the Government announcing a dramatic rise in probate fees, many people are considering reducing the size of their estate to minimise the Inheritance Tax (IHT) and probate fees that will be payable on their death. In the most extreme cases, estates worth over £2 million will pay £6,000 in probate fees, in addition to […]
Number of working women aged 60-64 has doubled
Employment statistics show that more women are staying in the workplace for longer, with 48.5% in this age bracket in employment1, compared with just 23.4% back in 1998. This is attributed variously to the short-notice rise in the state pension age from 60 to 65 or 66 currently affecting many women born in the 1950s, […]
How to side-step retirement remorse
The good news is that most pensioners thoroughly enjoy the freedom that retirement brings. They can pursue their hobbies, take more holidays and spend more time with their family and friends. When people have regrets, it’s often to do with the way they planned for their retirement and the decisions they did or didn’t take […]
Shared ownership and tax relief
Shared ownership involves buying a share in a property and renting the rest. It’s a cost-effective way for first-time buyers to get a toehold on the property ladder. The Chancellor’s 2018 Budget included plans to correct an anomaly from his previous Budget by cutting stamp duty for first-time buyers of shared ownership properties worth up […]
First-time buyers get two more years to benefit from Help to Buy
Under its Help to Buy scheme, the Government offers first-time buyers and second-steppers a loan of up to 20% of the price to buy a new-build property of up to £600,000. A London-only version of the scheme provides 40% equity loans. Changes announced in the Budget The 2018 Budget contained details of how the Government’s […]
New home stats – through the roof!
With the Government having pledged to build 300,000 new homes a year in England by 2025, there’s welcome news concerning the number of new homes registered in the third quarter of 2018. Builders register homes expected to be built in the coming months that are to be covered by the National House Building Council (NHBC) […]
What money rules would you pass to the next generation?
As parents and grandparents, we all hope the values that we hold dear can somehow be passed on to our children and grandchildren. We’d all like them to be able to make the right financial decisions for the future. Here are a few thoughts that might just help. Spend less than you earn It’s not […]
What you need to know about retirement mortgages
Whilst much is often made of the plight of first-time buyers, a lot less attention is generally paid to older borrowers who are looking for the right type of mortgage product for their needs. However, banks and building societies are increasingly aware that borrowers are living longer and want to borrow for longer too. Many […]
Single adults find it hard to save
With more people now living alone than ever before, and the numbers predicted to rise, new research1 shows that single people in Britain are finding it harder to save for retirement than those who are married or co-habiting. More than six million single adults are under-prepared for retirement. The study reveals that just 47% of single […]