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 […]
More taking out protection policies as health consciousness rises
Life is full of twists and turns, some of them good, others not so good. Protection policies are one of the best ways of ensuring your family is provided for financially, if unexpected and unwelcome events should happen. Policies can pay out lump-sums or provide an income to ease the financial burden at a difficult […]
Women are better savers than men
Women, it seems, are heeding the message about saving for retirement and are saving more for their future than men, after adjusting for earnings. However, the fact that women are saving more as a percentage of their earnings, but still achieving lower balances in their pension plans, shows the effect that the gender pay gap […]
Reached your half-century? How to plan for retirement
Once you reach 50, it’s time to get serious about planning your retirement. True, it could still seem ages away, and you may not be thinking of giving up work anytime soon. However, putting a retirement plan together will help you understand what your finances will look like when you decide to take life easy. […]
IHT – under the spotlight
According to figures from HM Revenue and Customs, Inheritance Tax (IHT) revenues are up again, with £5bn being paid in the 2017–18 tax year. This increase comes despite the introduction of the residence nil-rate band in 2017. With more families falling into the IHT bracket, campaigners are hoping that the current review by the Office […]