News

Pension withdrawals hit £2.3bn There’s growing evidence that pensioners are treating their pension pots more like bank accounts. In the second quarter of this year, savers withdrew £2.3bn, according to data produced by HM Revenue and Customs, an increase of 35% on the first quarter. The money withdrawn represented full or partial withdrawals, flexible drawdown […]

Despite signs that the housing market is slowing down, especially in London, house prices have remained high due to the shortage of supply. This has meant that affordability has continued to be a major issue, especially in the south of the country. Figures from the Office for National Statistics show that first-time buyers in London […]

How much are your possessions worth? Having enough insurance is almost as important as having insurance in the first place. When it comes to applying for a policy, it’s important to provide the right figures, as getting them wrong could have serious consequences. “Guesstimating” the value of your household contents could leave you under insured […]

Retirement is a much more fluid concept than it once was. According to a recent survey1, 54% of respondents who were considering working into retirement, or who were already doing so, said they valued the opportunity to keep active in mind and body. Around 8% of those scheduled to retire in 2018 have postponed their […]

With investing, the old saying ‘don’t put all your eggs in one basket’ rings true. To improve the potential for long-term gains and spread risk, the best advice is to diversify your investment across a range of companies, asset classes and geographical regions. This helps to minimise the impact a poor performing economic region or […]

A recent survey2 shows that many of us spend with our hearts rather than our heads. ‘Trend spenders’ don’t feel overly worried about splashing out and are keen to maintain their lifestyle, and are the largest group among the financial personality types. By contrast, less of us are defined as ‘Skilled savers’ and ‘Budget gurus’. […]

Before the financial crisis in 2008, many borrowers opted for an interest-only mortgage. This was a cheaper option for them, as they only paid interest each month. Borrowers were expected to have adequate plans in place to repay the capital at the end of the mortgage term, as was the original intention with endowment mortgages. […]

Help is on its way for leaseholders wanting to buy freehold The government estimate that there are 4.2m leasehold residential properties (one-third houses and two-thirds flats) in England, and around half of these are on leases with less than 80 years remaining. Ground rents average £370 per year. Last year, the-then Communities Secretary, Sajid Javid […]

Many retiring today can look forward to several decades in retirement, so taking the right decisions about your pension pot is important, as you will want your money to last as long as you do. Working out how much you will need to live on and getting a state pension forecast will show how much […]

Do you discuss financial matters with your children? In the UK, we can be very reticent when it comes to having family conversations about money. But as our children grow, they need to know the financial basics in order that one day they can successfully manage their own money. So, knowing how to draw up […]