Homeowners resent stubbornly high mortgage rates
While the sense of turmoil that defined Liz Truss’s brief premiership has thankfully subsided, the legacy of the measures she (tried to) implement still remains. According to the Bank of England, the number of mortgage approvals hit its lowest level since 2009 – excluding Covid lockdowns – during January this year. That means that the mortgage market has contracted for five months in succession, and many analysts believe this…
What is happening with the Government’s Pensions dashboard
For some time now, the Government has been working towards rolling out a pensions dashboard, where people can view all their pension savings in one place. This, it said, would revolutionise how consumers keep track of their pension information, put savers in control and transform how they think and plan for their retirement. That is really important when you think about how a person can easily rack up multiple…
How to avoid arguing about money
As soaring energy and food prices put pressure on your household budget, you do not want money to become a source of tension at home. So how can you make sure you and your partner do not spend all your time in conflict over financial matters? Set goals together If you are one half of a couple, you need to involve your partner in making major life decisions and…
Get ready for the end of the tax year
The end of the tax year is fast approaching and little time remains. So in the weeks ahead of the April 5th deadline, what steps should you be taking to make the most of your money and reduce your tax bill? Here are just a few areas you could look at. Use your ISA allowance You can save or invest up to £20,000 per year with a cash ISA,…
Could you afford to retire early?
Early retirement – retiring any time before state pension age – is the dream for many. The pandemic focused many people’s minds; making them think about what they want out of life – and for many in a position to make big changes, early retirement was the big one. The House of Lords Economic Affairs Committee has recently been looking into what’s driven an increase in economic inactivity over…
Why Young Adults Need Professional Financial Advice
If you want answers to any questions, chances are you simply pick up your phone and look online. But there are many questions in life that are simply too big for the internet to answer, ones that require specialist knowledge, insight and expertise. For example, you can not just Google how you should personally manage your investments, your pension planning or preparing your inheritance. How can the first page…
Take a long-term view of your investments
Investments go up as well as down. It is one of the most basic principles of investing that we are told early on in the process. So why do so many of us panic when conditions in the market are less than ideal? In a climate of high inflation, soaring energy prices, war in Europe and looming recession in the UK, you might be thinking of cutting your losses.…
Is recession inevitable following surprise economic growth?
The word “recession” hasn’t been far from the headlines for quite a while now, as the economy struggles to bounce back from the pandemic and soaring inflation hits consumer confidence. But the latest figures have raised some eyebrows. According to the latest official data, the UK economy shrank by 0.3 per cent in the three months to November 2022. But the economy also saw unexpected growth of 0.1 per…
Do you feel in control of your finances?
Money worries can have a devastating impact on a person’s life, causing untold stress and heartache day after day. So it is really important that you are not left feeling as if your finances are like a runaway juggernaut – out of control. Otherwise, you leave yourself vulnerable to a host of further financial problems, from growing debt and a worsening credit score, to struggling to put food on the…
Why are house prices falling?
Average house prices have been falling steadily for the last few months now. In fact, the latest figures from Halifax show that prices fell by 1.5 percent in December 2022, taking the average property value to £281,272. It was also the fourth monthly decline in succession, which is staggering when you think that even a global pandemic failed to stop house prices heading upwards. Figures also showed that on…
