Month: June 2018

Is your mortgage costing you more than it needs to? Some homeowners suffer additional interest when fixed rate deals end.

Remortgagers who end up on default rates paid an average £371 extra Some homeowners paying triple the interest rate they would on a fixed rate Seven out of 10 borrowers have never been contacted with an updated deal A third of mortgage holders whose deals expired last year ended up paying an additional interest of...

Factors affecting a mortgage application

Applying for a mortgage can be nerve-wracking, so it’s helpful to have an idea of exactly what sort of information lenders will look at when deciding whether you can borrow from them. Here, we look at some of the factors that will affect your mortgage application. Whether you’re on the electoral roll If you’re not...

Combined finances for couples

‘All that I have, I share with you.’ Married couples make this vow – but what does it really mean in practice? Living with a spouse, civil partner or just a partner will nearly always mean a degree of shared financial responsibility. This may be anything from simply sharing out the costs of housekeeping, to...

Your money, your choice

Supporting your future financial requirements YOU CAN PAY INTO AS MANY PENSION SCHEMES AS YOU WANT; IT DEPENDS ON HOW MUCH MONEY YOU CAN SET ASIDE. THERE ARE SEVERAL DIFFERENT TYPES OF PRIVATE PENSION TO CHOOSE FROM, BUT IN LIGHT OF RECENT GOVERNMENT CHANGES THE TAX ASPECTS CAN REQUIRE CAREFUL PLANNING. SO WHAT DO YOU...

Retirement wealth

What’s the right answer for you? The first increase in minimum automatic enrolment (ae) workplace pension contributions came into effect on 6 April [1]. According to research from Scottish Widows, however, one in five Britons (20%) – amounting to more than ten million people – say they’ll work until they’re physically unable to, while one...

Protecting your estate for future generations

Many individuals find the Inheritance Tax rules too complicated If you struggle to navigate the UK’s inheritance tax regime, you are not alone. Whether you are setting up your estate planning or sorting out the estate of a departed family member, the system can be hard to follow. Getting your planning wrong could also mean...

2018/19 tax changes

New initiatives you need to know It’s important to consider the tax implications of making financial decisions. The 2018/19 tax year is now upon us and a raft of new changes have come into force. The good news is that there is little change in the overall tax burden for basic-rate taxpayers. However, there are...

Generous grandparents

The bank that likes to say ‘yes’ Forget the Lamborghini – 2.4 million UK grandparents[1] have either raided their pension to support their grandchildren or plan to in the future. According to research from LV=, a quarter of generous grandparents (25%) who have already given away money to their grandchildren[2] have taken the funds from...

Financial freedom

Deciding what to do with pension savings – even if you’re still working It might seem like a far-off prospect, but knowing how you can access your pension pot can help you understand how best to build for the future you want when you retire. On 6 April 2015, the government introduced major changes to...