Monday, 14 August 2017

The Inertia Tax!

Those with residential mortgages that stay on their lenders’ Standard Variable Rate are effectively suffering a voluntary tax by not taking advantage of their lender’s special deals. Shifting over to the lender’s special deals, such as a fixed rate for two or three years, can save hundreds or even thousands of pounds over those couple of years. Simply contact your lender and ask them what is

available. This same principle applies for those who have buy-to-let mortgages on investment properties.


Monday, 7 August 2017

Pension Bits and Pieces

The older of us have often worked in many jobs and often with each job came some sort of pension arrangement.


When approaching age 55 or older, it is worth gathering all of these pieces and working out how you want to use them. Where such bits and pieces go back quite a ways in time, the Government can help you locate them through their free Pension Tracing Service(0345 600 2537). If you are not sure when your State Pension comes into effect, you can find out by searching “Check Your State Pension Age.gov.uk”, and for your State Pension Forecast search “Check Your State Pension.gov.uk”.





 







Thursday, 3 August 2017

Pension Freedoms



The majority of pensions now basically consist of a pot of money. The current rules allow a person aged 55 or older to take 25% of the value of this pot tax-free. The rest can be used to set up an income for life or to draw down lump sums when needed. Any of these remaining funds that are taken out or turned into income are taxable. They are treated the same way as any other earned income in the year they are taken.
While the majority of people we see have the relatively simple type of pension described above, there are some complications with older pensions where there are certain guaranteed benefits built into the plan. It is worth having such plans looked at by a professional to ensure you are not missing out.

There are also many people who still will be able to benefit from better pension schemes termed
“defined benefit or final salary pensions” as they guarantee an income based on years of service and salary. We are available for assistance with such matters. Just give us a ring.

Tuesday, 18 July 2017

An Important age – 55!

In today’s financial world reaching 55 carries with it certain opportunities. 55 is the minimum age at which one can take most pension benefits (with the key exception being the State Pension which is no longer age 65 for most people).


It is also the minimum age at which a person can take out a Lifetime Mortgage.


Monday, 3 July 2017

OPTIONS AND SOLUTIONS!

While there is much uncertainty politically in our and other countries, we can maintain our own personal financial stability by following sensible and proven rules. One of the first is to ensure that you have more money coming in than you spend! This certainly will keep you in the “Happiness” zone described by Charles Dickens, in one of his books.


This principle applies to individuals as well as groups and businesses and even countries.


To achieve this you do need to have a bit of organization in place so you can see all that comes in

and all that goes out. Much more could be done to help educate those growing up so that they do

grasp such basics and also learn the patience of setting money aside for a special purchase rather

than having to buy things immediately on impulse.


Thursday, 22 June 2017

Lifetime Mortgage Options

Whether you have an interest-only mortgage coming to the end of its term, or simply want to raise funds for other reasons, a Lifetime Mortgage could be a good solution.



Based only on age and property value, they are not dependent on income or affordability or credit status. Money can be raised for virtually any reason. You can choose to make payments or let the interest roll up. The minimum age for a Lifetime Mortgage is 55. For a couple the youngest has to be at least 55 years old. Note: Any mortgage already on the property must be repaid; it is not possible to have a Lifetime Mortgage in addition to an existing one.



Contact us for quotes or with any questions you may have.

Tuesday, 13 June 2017

USING OUR EXPERIENCE AND EXPERTISE

“Service is, as ever, unbelievable.”


Mr CE of Crawley



“Very professional and helpful service.”


Mr JG of East Grinstead