Category: News

Classic films to enjoy this autumn

02.10.2020

The nights are drawing in and ongoing Covid-19 restrictions mean we’re going to be spending more time indoors than usual this autumn and winter. It’s the perfect excuse to grab a bowl of popcorn and put on a classic film. There might be plenty of action-packed films coming out in the coming months after delays due to the pandemic but sometimes you can’t beat reliving the golden age of Hollywood. So, here are eight classic films that are...

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How the surge in house prices could affect securing a mortgage

02.10.2020

House prices have reached a record high following the introduction of the Stamp Duty holiday and viewings now being allowed after a temporary ban due to Covid-19. The Halifax House Price Index reports house prices have increased by 5.2% year-on-year; the strongest growth since 2016. Despite current economic uncertainties, the average house price is now more than £245,000. This is the highest ever average recorded by Halifax. This rapid...

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Why financial advice can be important following the loss of a loved one

02.10.2020

When you’re coming to terms with the loss of a loved one, financial planning will be one of the last things on your mind. Yet, in the month’s afterwards, it can provide security and help you plan for the rest of your life. Bereavement can mean you may no longer take financial advice. After all, you’ll have a lot of other areas to deal with and loss can make it seem like a task that is insignificant in comparison to everything else. Research...

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Financial planning week: 10 steps to take before New Year

02.10.2020

This month marked financial planning week, which aims to showcase the benefits of financial planning, from the financial gains to improved wellbeing. To celebrate this, we’ve got a checklist of steps you should take before 2020 ends to ensure you’re on track. 1. Think about your lifestyle goals The financial steps you make should be linked to your lifestyle goals. As a result, this is one of the first things you should do. Since setting out...

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How a will can help you reduce Inheritance Tax

02.10.2020

October is Free Wills Month, an initiative solicitors can be part of that offers free will writing expertise to over 55s to support charities. The key reason to write a will is to ensure your wishes are carried out, but did you know it could help you mitigate how much Inheritance Tax your estate will be liable for too? If you don’t already have a will in place, doing so should be a priority. Without a will, your assets may not be distributed to...

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5 steps the self-employed should take to prepare for retirement

02.10.2020

More people are becoming self-employed and it’s a step that’s been linked to improved wellbeing. But it can mean your financial security falls, particularly when looking ahead to retirement. For self-employed workers, it’s important to take steps that can ensure your financial security in the long term. According to research from the Institute of Fiscal Studies, wellbeing improves markedly upon entering self-employment. Job satisfaction was...

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Should you take a tax-free lump sum from your pension?

02.10.2020

Your 55th birthday, rising to 57 in 2028, often marks being able to access your pension for the first time. The opportunity to take a 25% lump sum tax-free is certainly attractive and can be too tempting to resist. But it’s not a decision to take lightly and it isn’t the right move for everyone. The ability to take a tax-free lump sum means that pension savings are becoming disconnected from retirement, research suggests. For many of us,...

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Pension age rises to 57: What does it mean?

02.10.2020

From 2028, you won’t be able to access your Personal Pension until the age of 57. The government’s decision could affect your retirement plans and it’s important to review what it means for your future. The government previously stated it intended to increase the age people could access their Personal Pensions, currently set at 55. However, it didn’t put legislation in place, leading to speculation that the change wouldn’t go ahead. The...

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5 things to consider if property is part of your retirement plan

08.09.2020

Figures suggest that many people are planning for property to play at least some role in their retirement income. With property prices and rental yields rising, it’s easy to see why you may think that property can offer security throughout retirement. However, there are some things to consider first. Research from the Office for National Statistics (ONS) conducted between April 2018 and March 2020 unsurprisingly found that property as a...

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Older borrowers facing challenges securing mortgages

08.09.2020

If you’re in retirement and have mortgage debt, research indicates it can be far more challenging to secure a mortgage. You may be forced to pay higher interest rates without a new deal, placing further pressure on your finances. It’s not uncommon to still be paying off a mortgage after retirement. And as the average age of first-time buyers is gradually rising, it’s a trend that’s expected to continue. In fact, in 2018, around a fifth of...

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