Do you have the mortgage of Damocles?

Some borrowers are living with a sword hanging over their heads: a mortgage they have little or no hope of repaying. One possible answer is the “lifetime mortgage” – but it’s hardly ideal. What is an interest-only mortgage?  It’s one where only the interest is paid off each month, so the full amount must be repaid … Continue reading “Do you have the mortgage of Damocles?”

From Truffle Trees to Time Shares – Pension Fraud is Very Real

For the first time ever, the High Court has ordered the perpetrators of pension scams to repay the money they took from their victims. Four individuals, who between them ran 11 separate pension scams, must now pay back the £13.7 million they took from pensioners by dishonest means. According to the BBC, as many as 245 … Continue reading “From Truffle Trees to Time Shares – Pension Fraud is Very Real”

Will my workplace pension be protected?

The collapse of Carillion has once again drawn attention to the pension schemes of companies that go into adminstration. Following similar cases at BHS and Tata Steel, members of the Carillion scheme will need to be moved into the Pension Protection Fund. If you have this kind of pension, can you be sure it will stay afloat? It’s getting rough … Continue reading “Will my workplace pension be protected?”

UK Retirees increasingly reliant on the state pension

About 15 million people in the UK may be facing a bleak retirement according to a major new survey from the Financial Conduct Authority1.  It recently carried out research into the personal finances of just under 13,000 consumers in the UK. The Financial Lives survey found that 31% of UK adults don’t have private pension … Continue reading “UK Retirees increasingly reliant on the state pension”

Think about the level of protection you need for your family

If you have a life policy, can you recall the level of cover you have in place? The majority of people take out a life policy when they take out a mortgage, file it away and forget about it. This can be a huge mistake. The level of cover you took out a while ago … Continue reading “Think about the level of protection you need for your family”

An ISA millionaire – could you make it to £1 million?

The odds on becoming a millionaire through winning the lottery or scooping the Premium Bond jackpot are slim at best. However, with planning, patience and sufficient money available to invest in stocks and shares, by reinvesting all your dividends, and making maximum use of your tax-efficient allowance, it is perfectly possible to become an ISA … Continue reading “An ISA millionaire – could you make it to £1 million?”

Does your Portfolio need a New Year makeover?

If it’s been a while since you looked at your investment portfolio, now could be a good time to stage a review. A regular assessment of your investments will help ensure that you know whether they are on track to meet your financial objectives. The New Year presents the perfect opportunity to take stock. It’s … Continue reading “Does your Portfolio need a New Year makeover?”

Tackling the UK’s savings gap

An ageing population poses considerable issues for any economy. Nowhere is that truer than here in the UK.  According to the World Economic Forum (WEF), the UK should be preparing right now for a workforce composed of 80-year-olds and be imposing faster rises in pension age to avoid a £25tn pensions savings gap from opening … Continue reading “Tackling the UK’s savings gap”

Autumn Budget 2017

The Chancellor of the Exchequer, Philip Hammond, has unveiled his Budget to Parliament – here’s a brief summary of some of the measures announced which may affect your own personal finances. Stamp duty land tax (SDLT) abolished for first-time buyers on homes under £300,000 from 22 November First-time buyers of homes worth between £300,000 and … Continue reading “Autumn Budget 2017”