High levels of inflation and concerns economies will experience recessions later this year continue to affect investment markets. While the stock market is experiencing volatility, remember to focus on your long-term goals. Guarantees cannot be made, but, historically, markets have bounced back from downturns and delivered returns when you look at the bigger picture. UK Inflation is high in the …
It’s no secret that property prices have been rising quickly. If it’s been some time since you checked your property’s value, doing so is a worthwhile step. If the value has increased, your mortgage repayments could be reduced. According to figures from Zoopla, the value of all homes in the UK surpassed the £10 trillion mark for the first time …
When you imagine the worries that might come with taking investment risk, it’s probably “taking too much” that comes to mind. After all, you’ve likely heard stories of people that have invested in high-risk opportunities and lost some or all their money. However, when you’re investing for the long term, taking too little risk can also be damaging. As inflation …
If you think that insurers don’t pay out when people make claims, you’re far from alone. According to Scottish Widows, just 7% of people think that life cover claims pay out between 91% and 100% of the time. For critical illness claims, this figure falls dramatically to just 2%. Together, these figures show the lack of confidence many people have …
When you start thinking about how you’ll create an income in retirement, it’s probably your pension that comes to mind. Yet, if your estate could be liable for Inheritance Tax (IHT), it could make sense to use other assets first. IHT is paid after you pass away if the value of all your assets exceeds certain thresholds. It can significantly …
Some of the decisions you make as you retire could affect your income and lifestyle for the rest of your life. Yet, data suggests that many retirees aren’t taking financial advice and it could mean they face hardship in the future. According to the Great British Retirement Survey, only 27% of retirees in 2021 sought the services of a professional …
The ongoing war in Ukraine, rising interest rates and soaring inflation could be pushing some economies towards recession in the coming months. This uncertainty has caused real volatility in global stock markets. Indeed, 2022 was the worst first half of the year for developed market equities in more than 50 years. As an investor, you may be worried about the …
The gender wealth gap is a widely acknowledged issue in the UK, particularly in the context of pension savings and women’s ability to retire. Indeed, a report by Now Pensions and published by consumer group Which? suggested that on average, women would need to work an additional 18 years more than men to close the gender pension gap alone. Yet …
The Bank of England’s (BoE) decision to scrap some affordability tests for people taking out a mortgage could mean you’re able to borrow higher sums. However, it’s still crucial that you have confidence in your budget and don’t overextend yourself. From 1 August 2022, lenders won’t have to carry out affordability tests that assess how buyers would cope if interest …
If a previous mortgage deal has ended and you’ve not taken out a new one, you could be paying a much higher rate of interest. If you’re on your lender’s standard variable rate (SVR), read on to find out why a new mortgage deal can make sense. When you take out a mortgage, the deal is for a fixed period, …
