Mortgage advice for the self-employed
The growth of what’s been dubbed the ‘gig’ economy has led to more people joining the ranks of the self-employed and becoming small business owners. In the past, it could sometimes be more difficult for people who don’t have set employment and salary patterns to get a mortgage. However, times are changing and more lenders […]
Money doesn’t grow on trees – teaching your children the value of money
Financial literacy isn’t a skill that we’re born with. Learning how to manage money effectively requires acquiring a few important life lessons that parents can pass on to their children from a relatively young age. EARNING AND LEARNING It makes sense to encourage children to handle cash as soon as possible to help them […]
Two-thirds without life insurance despite health worries
A recent ‘Health, Wealth and Happiness’ report1 shows that poor health (29%) and concerns over family members’ health (24%) top the list of things likely to impact happiness, above the sudden death of a family member or friend (24%), terrorism (23%) and the impact of Brexit (17%). Despite health worries topping the list of concerns […]
Later life mortgage borrowing has become standard practice for many
The mortgage landscape has changed in a number of fundamental ways over the last few years. Diverse factors such as the increase in house prices, students leaving university with larger debts, the trend towards couples buying their first homes and starting their families later in life, the ability to access pensions from age 55, are […]
Cash flow planning – your road map for the future
Many people spend their working lives planning and saving for their later years. However, when they reach retirement they can be unsure as to how best to allocate their cash. This is where cash flow planning can really help. WHY IT HELPS TO GET A FORECAST A cash flow forecast will give you a […]
Over 50s neglect pensions – choosing to rely on inheritance or lottery wins
There’s increasing evidence that those aged over 50 are postponing making plans for their retirement, often relying on factors out of their control like a premium bond win or receiving money on the death of elderly relatives. Others plan on selling their current property and downsizing to release cash for their retirement. However, that’s not […]
Equity release topped £3bn in 2017
Many people approach retirement owning a family home and want to benefit from the cash tied up in what’s probably their biggest asset. For some, the thought of downsizing and moving in later life to release cash is too daunting to contemplate. An equity release plan allows you to turn some of the capital value […]
Millions relying on just £7k in retirement
According to research1 carried out for the Pensions Policy Institute, many pensioners are relying on their state pension for three-quarters of their income. It can come as a shock to many that their state pension entitlement increased to £164.35 per week from April 2018, but only for those who have a complete record of National […]
Dividend allowance reduction from April 2018
In the Summer Budget 2015, the government announced that dividend taxation would be reformed from April 2016 by replacing the Dividend Tax Credit with a £5,000 dividend allowance, and increasing the rates of tax payable on dividends in excess of the new allowance by 7.5 percentage points in each band, to 7.5% for basic rate, […]
Airbnb – Implications for home insurance
Airbnb is an amazing business success story – there are now more than four million homes listed around the world. But homeowners who list their property on Airbnb or similar sites need to think carefully about their insurance position, as when they have a tenant in their property, they may not be insured under the […]