A lifetime mortgage is when you borrow money secured against your home, provided it’s your main residence, while retaining ownership. When you die or move into long-term care, the home is sold and the money from the sale is used to pay off the loan. If there is not enough money left from the sale, […]
Due to the fact that property values have risen over the long-term equity release is a good way for older homeowners to free up cash from their homes. Despite the recent rise interests rates are still historically low and borrowing against the equity in your home to free up cash is an increasingly popular way
Why One In Three Use Equity Release To Clear Their Mortgage Read More »
Millions of Britons are still paying money every month into a basic type of insurance called an over-50s life plan, despite the fact they are known for being expensive for what they provide. New research suggests that people could be paying double what they need to and that traditional insurance policies may be the better
Millions of over-50s could be ‘paying too much’ for life insurance Read More »
First time house buyers will no longer need to pay stamp duty on properties worth up to £300,000. Mr Hammond said this meant 95% of first-time buyers would see stamp duty cut, while 80% would pay none at all. However, the Office for Budget Responsibility (OBR) said the main beneficiaries would be existing homeowners, rather
Stamp duty scrapped for first time buyers on property up to £300,000 Read More »
The Bank of England has recently increased interest rates from the record low of 0.25 per cent to 0.5 per cent. The impact of this change on your mortgage will depend what kind of mortgage you currently have. If you are on a variable-rate tracker mortgage you will see an increase in the interest on
UK interest rates: What will a rise mean for YOUR mortgage? Read More »
There are 1.9 million limited companies in the UK and around 78% of these employ no more than four people. Many are sole operators who could be in a position to take advantage of a particularly tax-efficient life insurance known as Relevant Life Cover. But, despite this type of insurance being widely available very few
Could You Be Missing Out on Tax-Efficient Life Insurance? Read More »
The recent rise in interest rates from 0.25% to 0.5% could add an extra £22 a month to average variable interest rate loans. Not all banks have been clear about their plans yet and some may try to avoid or delay passing on the impact of the rate rise to savers. This would boost their
First interest rate rise in 10 years adds to UK mortgage burden Read More »
New figures reveal the number of people aged 35 and under that are taking out life insurance has increased from 47% to 49%. It is found that 25 – 34 year-olds pay on average, just £16.78 a month. Even if you’re not yet on the property ladder, thinking ahead and planning for the future could
Increasing number of under 35s take out life insurance Read More »
Looming interest-rate rises and a stagnant housing market mean first-time buyers could end up trapped and paying some of the highest mortgage rates experts have warned. Those most at most risk are borrowers setting out today with small deposits. Rates available for those with 10pc equity are far better than rates available for those with
Current mortgage deals could be ‘dangerous’ as house prices weaken and rates rise Read More »
Nearly 2 million self-employed people in the UK are unable to save any money each month leaving them vulnerable to financial shocks, according to new research by leading insurer, LV=. According to LV’s research only 4% of self-employed people have income insurance. But 3 in 10 of those are worried about an accident and not
Are you self-employed and at risk of financial crisis? Read More »