Mortgages - the jargon busting guide

Posted by siteadmin on Friday 17th of September 2021

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With so many types, complex terminologies, and policy small prints, it can often feel like an impossible task to understand all the different mortgage options, let alone which one is most suitable for you.

With the Financial Conduct Authority (FCA) finding that mortgage commitments are 15% higher than in 2020 (FCA, https://www.fca.org.uk/data/mortgage-lending-statistics), it seems the market may be beginning to recover from the COVID-19 pandemic.

Considering this, here is a jargon-busting guide to help you understand the main mortgages, ...


The Help to Save scheme - your questions answered

Posted by siteadmin on Saturday 7th of August 2021

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Financial challenges can affect anyone, at any time. Sometimes, these can be through no fault of your own, but can lead to necessary lifestyle changes. 

If you have a lower income, you may find it difficult to make significant monthly contributions to your savings. Instead, it’s likely that a lot of your income will be spent on essential outgoings, such as living costs or utilities. 

This is a familiar situation for many people, and since the COVID-19 pandemic began, there has been a sharp increase in Universal Credit claimants across th...


Inheritance tax - your questions answered

Posted by siteadmin on Thursday 1st of July 2021

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When a person passes away, their estate is often left behind for those closest to them to manage. This includes notifying all the relevant people of the person’s passing, repaying any obligations left unpaid and organising the inheritance process.

A key part of managing inheritance is inheritance tax – it’s crucial that any tax obligations are met once a person passes away.

Here’s our answers to the top four questions you may have about inheritance tax:

1.    How does inheritance tax work?

Inheritance tax (or IHT) is a tax on the esta...


You could turn your daily meal deals into £220,000

Posted by siteadmin on Thursday 10th of June 2021

 

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Over the past year, lots of people across the UK have had to tighten budgets as a result of furlough, redundancies or reduced working hours. This increased financial strain on millions of households has meant many have begun thinking about their financial future more closely, wanting to ensure it is as secure as possible.   

The Coronavirus Job Retention Scheme (furlough) has supported around 11.4 million people in the UK (source: Statista) since 2020. As a result, many salaries have been cut by 20%, with some employers being unable t...


The financial lessons learned from Covid-19

Posted by siteadmin on Wednesday 5th of May 2021

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The past year has been a difficult time for everyone, with many people feeling the effects of the financial constraints bought about by the pandemic and its various lockdowns.

Many people have been forced to tighten their budgets, with some taking pay cuts or experiencing furlough, redundancy or unemployment. This has put intense financial pressures on households, where, in some cases, there is now only one earner in the home.

Despite it being a challenging year for us all, we’ve been able to learn a variety of lessons when it comes to f...


Income Protection - four ways you can create financial peace of mind

Posted by siteadmin on Thursday 1st of April 2021

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Following a turbulent 2020, where many people have had to take time off work as a result of illness, a loss in the family or other hardships as a result of the pandemic, many have been left worrying about their financial stability.

In addition, an unstable financial situation across the country has left numerous employers with the difficult decision of letting members of their team go, heightening the worry for many of those still in work, concerned about their job and financial security.

However, as an employer, there are various benef...


Your tax year end checklist - what do you need to do?

Posted by siteadmin on Tuesday 2nd of March 2021

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 Your tax year end checklist – what do you need to do?

As we approach the end of the financial year on 05th April 2021, you may be thinking about what you need to do before the new financial year begins, and how you can ensure your business is in the best position possible.

For business owners, there’s lots to think about over the next couple of months and there’s a lot to be done. This may include updating payroll information, expenses or submitting your annual accounts.

With so much to think about and plan for, it may seem overwhelmi...


Lasting Power of Attorney - your questions answered

Posted by siteadmin on Thursday 4th of February 2021

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Registering your Lasting Power of Attorney (LPA) grants someone, or a small group of people, the ability to act on your behalf. This means they can make legal decisions in your best interest, if you become incapable of doing so yourself. This could include decisions regarding your finances, property or personal welfare and living situation.

Understanding your options isn’t always straightforward, so here are the answers to some questions you may have about LPAs.

1. Who can register an LPA?

Any adult who is mentally capable to make impor...


The four key benefits of diversifying your investments

Posted by siteadmin on Friday 8th of January 2021

Diversification in investments can allow you to spread financial risks. It involves investing in a variety of ways, for example, through pensions, property, stocks and shares or even infrastructure. Although diversification does not guarantee against monetary loss, it can be a valuable technique for reaching long-term financial goals.

So, what are the key benefits of investment diversity?

 1. Reaching financial goals

By investing in multiple sources, you can create a number of income streams. The accumulative amount released from these in...


A young person's guide to money - five tips for managing your money better

Posted by siteadmin on Wednesday 2nd of December 2020

 

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For a young person, managing finances can often seem like a difficult task. However, modern technology has made managing your own money easier than ever.

Here’s our five top tips for helping young people to manage money better:  

1. Starting a part-time job

Having a job is an important part of learning how to manage finances. Part-time employment is common for young people, including college and university students, with 54.8% of 16-24 year olds being employed in 2019. Having a job provides young people with their own income and off...