Self-employed workers have always faced additional challenges when trying to get on the property ladder. But stringent affordability tests mean it’s becoming even more difficult to secure a mortgage. Government statistics show in 2021 around 13% of the UK’s labour force was self-employed. So, the barriers for self-employed workers are something thousands of aspiring homeowners need to overcome every year. …
Over the last year, interest rates have steadily increased. If you have a mortgage, it may have affected your repayments, or could in the future. So, does your financial protection still provide the cover you need? The Bank of England has increased its base interest rate to tackle high inflation, which has led to a rise in the cost of …
The benefits of having a will in place are well-documented, although if you don’t have a will, or haven’t updated it in some time, you’re not alone. A recent survey from MoneyAge has found that 51% of adults in the UK currently don’t have a will in place. Of those with a will, 43% haven’t updated it since it was …
Inheritance Tax (IHT) can affect what you leave behind for loved ones. It’s essential you understand if it’s something you need to think about, as there could be steps you can take to reduce a potential bill. Over the last few months, you’ve read about what estate planning is and how to calculate the value of your estate. Mitigating an …
On Wednesday 15 March 2023, chancellor Jeremy Hunt presented his spring Budget. Focusing on the government’s aims to halve inflation, reduce public debt, and boost economic growth, Hunt delivered his first official Budget alongside the latest economic and fiscal outlook from the Office for Budget Responsibility (OBR). “Despite continuing global instability, the OBR report today that inflation in the UK …
Just six months ago, Kwasi Kwarteng stood up in the House of Commons and delivered his controversial “mini-Budget”. The announcements ultimately brought down the short-lived Truss administration, with current chancellor, Jeremy Hunt, announcing a series of policy measures in November 2022 aimed at calming the markets. Having taken “difficult decisions to deliver stability and sound money”, the chancellor has delivered …
Mortgage deals have a record low shelf life, and the market is changing quickly. If you’re searching for a new mortgage, it can make it difficult to find the right deal for you. In a situation like this, a mortgage broker can lend support. The average mortgage shelf life has fallen to just 15 days According to a report in …
You may have come across the term “asset class” when reviewing your finances or investing, but what does it mean? And which asset class suits your goals? In finance, asset class is often used to describe a group of investments that are similar and are subject to the same regulations. There are four main asset classes – cash, fixed income, …
When you look at investment performance with the benefit of hindsight, you may think you could predict how markets will move. Yet, markets are unpredictable and expert forecasts prove how difficult timing the market is. Every investor has heard the advice “buy low, sell high”. So, it can be tempting to try and guess how investments will perform in the …
Tax relief could boost your pension and mean you have more financial freedom in retirement. Yet it’s something that you may overlook when reviewing your pension, as analysis suggests that some workers aren’t claiming their full entitlement. In fact, according to a report in the Telegraph, higher- and additional-rate taxpayers could have missed out on as much as £811 million …
