How interest is calculated when you take a mortgage could affect your repayments now and in the future. Whether you’re hoping to buy your first home, are ready to move, or your current mortgage deal has ended, understanding your options is important. If you’ve been paying a mortgage over the last decade, you will have benefited from low interest rates. …
The Bank of Mum and Dad has become an integral part of the property market. Many first-time buyers would struggle to secure a home without the help of their parents and other family members. However, support doesn’t have to mean handing over a lump sum to use as a deposit, as there are other options. According to Lloyds Bank, the …
Do you have life insurance in place? A survey suggests that some homeowners are choosing not to take it out because of common misconceptions about how life insurance works. Life insurance would pay out a lump sum to beneficiaries if the policyholder passed away during the term. As a result, it can provide financial support to your loved ones when …
Do you have a Lasting Power of Attorney (LPA) in place? If you don’t, it could leave you in a vulnerable position if you’re unable to make decisions for yourself, such as after an accident or illness. Losing the mental capacity or ability to make decisions for yourself is something no one likes to think about. However, by taking steps …
Figures suggest that workers nearing retirement could find they’re facing a significant income shortfall later in life. Understanding how your pension savings will add up before you retire is crucial for creating long-term financial wellbeing. According to a report from the Social Market Foundation, people approaching retirement are facing a pension shortfall of almost £250,000 if they want to achieve …
Getting the most out of retirement and reaching your goals requires planning. Not thinking about your post-work years until you reach that milestone can mean that a retirement that promised much, falls short. While you might daydream about giving up work, pinning down the details, from your lifestyle to your income, means you’re more likely to turn your dream into …
Throughout March, the war in Ukraine continued to dominate headlines and affect investment portfolios around the world. Many companies, from well-known businesses like L’Oréal and Coca-Cola to smaller firms, have withdrawn operations from Russia, including online sales. Others, such as Unilever and Nestlé, have halted investment in the country but are continuing to provide some goods. This has led to …
When applying for a mortgage, being well-prepared can make a huge difference. Although the mortgage application process can be tricky, doing the relevant research and preparing in advance can make the whole process go more smoothly. One step some buyers choose to take before applying for a mortgage is to secure a mortgage in principle, also known as an “agreement …
Have you watched the Tinder Swindler or Puppet Master on Netflix and wondered how people could fall for the scams? Watching the stories unfold through a screen means you can spot the red flags and inconsistencies, but when a scammer is targeting you, it can be much harder than you think to look at your situation objectively. Over the last …
Over the last two years, investors have experienced a lot of volatility. If you’ve been tempted to change long-term plans, data can highlight why you shouldn’t panic. At the start of the Covid-19 pandemic, markets fell sharply, and investors continued to experience volatility as the situation and restrictions changed. Just as things were slowly getting back to “normal”, tensions with …
