Category: Uncategorized

What should you do if your credit or mortgage application is rejected?

15.02.2019

When your application for a mortgage or line of credit is refused it can be disheartening, to say the least. Often when we apply, whether it's for a loan, credit card, or a mortgage, we already have an idea of what the money will be for and want to access it as quickly as possible. But rejection can not only harm your plans but your credit rating too. Your first reaction following an application being declined may be to look for an alternative...

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How long could you survive without your income?

15.02.2019

If your income were to suddenly stop, how long would you be able to continue your current lifestyle for? If you made cutbacks, how long would your savings last for? It’s not something anyone wants to think about, but the truth is, people lose their income every day. Understanding how you’ll get by should something happen can put you in a better position financially and reduce the stress experienced if you’re affected. There is a range of...

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Seven steps to take when you’re passing on wealth to loved ones

15.02.2019

If you’re in a position to support loved ones financially, it can be difficult to know what to do. How should you go about passing on your wealth, helping to improve their financial security? There is more than one option for you to consider, as well as the impact it could have on your own financial situation. With younger generations often struggling to secure their financial future, a gift can help them find their feet. However, you need to...

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Why regular financial reviews are critical for achieving aspirations

15.02.2019

You’ve set out a financial plan and followed the course of action you were advised on. Now, you can simply kick back and forget about it, right? Wrong. Effective financial planning is about much more than simply coming up with an initial strategy. Regularly going back to your plan and checking in with your financial adviser or planner is crucial for ensuring it remains suited to your needs and aspirations. It should be, at least, on an annual...

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Are your cash savings delivering the best returns?

15.02.2019

From a young age, we're told to save for a rainy day. Hopefully, it's a message that's instilled some good money habits into adulthood, setting you on the right path for future goals, be it retiring early, buying a property or travelling. But, while we’re told to save, rarely do we talk about the importance of interest rates and growing your savings. When you’re putting money away, you undoubtedly want it to grow and not just through your own...

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The importance of longevity when planning for the future

15.02.2019

When you’re planning your financial future, you’ve probably considered how much you need and how much you can afford to put away. But when you’re planning your retirement, have you factored in longevity? At a time when retirees can access their retirement savings far more flexibly and in a way that suits them, longevity risk has become a reality for many. Considering your mortality isn’t something to look forward to. However, it’s...

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Should you stop pension contributions if you’re approaching the Lifetime Allowance?

15.02.2019

If you’ve been saving into a pension throughout your working life, you might be closer to the Lifetime Allowance than you think. Going over the threshold could mean facing additional tax charges on your future income and, as a result, some members are opting to leave their scheme. However, that’s not always the best option. What is the Lifetime Allowance? Currently set at £1.03 million, the Lifetime Allowance is the total amount you can save...

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Brexit and the property market: What does it mean for you?

10.01.2019

The Brexit debate is still raging and while plenty of people are making predictions about what will happen, uncertainty seems to be the only continuous theme. If you’re looking to buy a home or move this year, what does it mean for you? The official date when Britain is set to leave the European Union is now just weeks away on 29th March 2019. It’s been over two years since the Brexit referendum, so what’s happened to the property market...

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Does bias affect your financial security?

10.01.2019

Every day we make financial decisions, but you’ve probably spent little time thinking about the thought process that goes on behind each one you make. After all, we’ve evolved to make our decision-making processes quicker and easier. While you may quickly decide whether a purchase is good value for money or to deposit savings into an account, there’s a lot that goes into it. The decisions we make, including those related to finance, are...

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Why planning for the unexpected is important in retirement

10.01.2019

During your working years, you may have actively planned for the unexpected. Perhaps you set aside some of your income each month to cover emergencies or took out a protection product to act as a safety net. However, some find as they enter retirement these good habits fall to the wayside, but it’s still important to continue to plan for the unexpected. It’s easy to see why some retirees don’t have a plan. As you approach retirement, you...

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