A majority of Britons are ‘Trend Spenders’
A recent survey2 shows that many of us spend with our hearts rather than our heads. ‘Trend spenders’ don’t feel overly worried about splashing out and are keen to maintain their lifestyle, and are the largest group among the financial personality types. By contrast, less of us are defined as ‘Skilled savers’ and ‘Budget gurus’. […]
How interest-only mortgages have evolved
Before the financial crisis in 2008, many borrowers opted for an interest-only mortgage. This was a cheaper option for them, as they only paid interest each month. Borrowers were expected to have adequate plans in place to repay the capital at the end of the mortgage term, as was the original intention with endowment mortgages. […]
Help is on its way for leaseholders wanting to buy freehold
Help is on its way for leaseholders wanting to buy freehold The government estimate that there are 4.2m leasehold residential properties (one-third houses and two-thirds flats) in England, and around half of these are on leases with less than 80 years remaining. Ground rents average £370 per year. Last year, the-then Communities Secretary, Sajid Javid […]
Is your family financially-savvy?
Do you discuss financial matters with your children? In the UK, we can be very reticent when it comes to having family conversations about money. But as our children grow, they need to know the financial basics in order that one day they can successfully manage their own money. So, knowing how to draw up […]
What’s in store for the global economy?
The last few months have seen the release of positive economic reports and grounds for optimism remain with regards to future growth rates, certainly in terms of the US economy. However, while no one is currently predicting the onset of a sharp slowdown or recession, there are signs that the global economy may be starting […]
Four-fifths of properties are now sold below asking price
With property prices stabilising across the UK and falling in London, what steps can you take to ensure you get a good price if you’re planning to sell your home? With four-fifths of properties now sold below asking price1, experts agree that being realistic about price can be key to getting a sale. Over-pricing can […]
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Early retirement could disappear by 2035, so it’s time to plan
As the state pension age rises, life expectancy increases, and final salary pension schemes become a thing of the past, it looks likely that more workers will remain in employment for longer in order to be able to build up sufficient funds for their retirement years. According to analysis by Aviva1, the number of people […]
Are millennials saving enough for retirement?
Rising house prices, burdensome student debt and a low-wage economy have all contributed to millennials feeling under financial pressure. However, the good news is that many more people in the 18 to 35 age range are regularly saving into a pension than ever before. According to data from the Intergenerational Commission1, a decent pension ranks […]
Stamp duty penalises older people for moving
Think tank, the Adam Smith Institute, believes that Stamp Duty Land Tax, to give stamp duty its full name, should be scrapped. Amongst many reasons why they think it should be abolished is the belief that its existence prevents older people from downsizing. The prospect of paying stamp duty on a smaller home acts as […]