Don’t panic over mortgages amid market turbulence
Since the Chancellor, Kwasi Kwarteng, delivered the recent Mini-Budget, we’ve seen the pound crashing to its lowest level against the dollar in 37 years, the Bank of England buying £65 billion of government debt to stop some pension funds collapsing and the International Monetary Fund openly criticising the government and urging it to re-evaluate its policies. We’ve also seen many lenders stop offering mortgages. In fact, a record 935…
How does the falling pound affect me?
The pound went into freefall after Chancellor Kwasi Kwarteng’s Mini Budget, with news of a raft of tax cuts at a time of soaring inflation and rising interest rates sending chills through the markets. For many, talk of financial markets, exchange rates and the value of the currency can seem very remote and abstract. But these things have a big impact on our day-to-day lives. Here are just a…
Autumn Mini Budget – Key Announcements
Kwasi Kwarteng, the new Chancellor of the Exchequer, has delivered a mini-Budget, dubbed The Growth Plan, in which he promises “a new approach for a new era.” The Chancellor has put tax cuts and driving economic growth at the front and centre of his fiscal plan, as the government seeks to get to grips with soaring inflation and rising interest rates. So, what exactly did he announce? Let’s take…
Teach your children good financial habits as they head to university
You have worked hard to be able to afford to send your child to university, and now the time has come for them to fly the nest and strike out on their own. Naturally, you want them to start their adult life with good financial habits. Here are a few snippets of wisdom you could share with your son or daughter before they head off to university, so they…
Top 5 reasons to speak to a mortgage adviser
When it comes to taking out a mortgage or re-mortgaging your property, speaking to your bank might seem like a logical, natural first step to take. But you could be overlooking an alternative that would help you make a much more informed decision, as well as get a better deal on something that is one of the biggest financial commitments you are ever likely to make. Here are our…
How planning for retirement can boost your health and wellbeing
Retirement is one of those major life events that can throw up all sorts of emotions, from excitement to blind panic. But your reaction to this looming milestone can depend largely on how you deal with it in advance. If you’re prepared for retirement and have taken the right advice, you can look forward to your post-working life with confidence rather than anxiety, which benefits both your physical and…
Could your property help you with retirement planning?
Do you know how much your home has gone up in value since you bought it? If you purchased your house more than 20 years ago, chances are it’s worth a great deal more than it was originally. According to Aviva, the average value of a property owned by 65 to 74-year-olds is now £287,000. To put this into perspective, the average house price in the UK 20 years…
Stay calm amid tough economic headwinds
You don’t need us to tell you that investors have had a lot to deal with in the last few years. From a once-in-a-century pandemic to the Ukraine war, along with political upheaval in the US and the UK and soaring inflation across the globe, it’s been a tough period, to say the least. In the face of such grim headlines and events, it’s perhaps no surprise that you…
Interest rates tipped to top 2% in the next year
As the inflation crisis in the UK has deepened, the Bank of England has been forced to act decisively by hiking interest rates. In December 2021, interest rates stood at 0.1 percent, but they’ve since been raised six times and now stand at 1.75 percent. So the question on everyone’s lips right now is just how high could they go? Many analysts, commentators and stakeholders are already predicting a…
What does the end of the mortgage affordability test mean for you?
The Bank of England recently announced changes to its mortgage borrowing rules, with a key affordability test being scrapped. The stress test, introduced in the wake of the 2008 financial crisis, required lenders to work out if potential borrowers could manage if interest rates rose by up to three percent. So what does this change mean for you? Well, it could make it easier for potential mortgage borrowers, such…
