Equity release at a all time high

I have finished an article on how over 55 are now doing equity release mortgages in large number. Higher than ever before. Read Here http://www.telegraph.co.uk/personal-banking/mortgages/babyboomers-release-cash-homes-record-numbers/ This is understandable because since 2009 there is very little incentive to save and people have gotten use to spending. The only cash available is the equity in their homes. This will work for our over 55’s generation but what about the next? I fear that future read more

Nationwide to entre the equity release market

I have just read an article about homeowners over 55 releasing equity from there homes and that Nationwide Building Society are now going to lend to this market. The highlights are 1) Available to 55 – 84-year olds 2) Up to 46% loan to value depending on age 3) No fees including legal and survey 4) You can port to a new property 5) You can take additional borrowing 6) Can pay back up to 10% per year Read here if you want all the detail read more

Family own businesses LOOSE OUT AGAIN because of tory taxes changes

More than a million family-owned businesses and freelance workers will lose out because of the tax crackdown on dividend payments. They face paying up to £1,143 a year more in tax because of the way they choose to take an income. Many families who run newsagents, restaurants, shops, accountancy firms and other businesses take their earnings as company directors through dividend payments, rather than a monthly salary. That means they pay lower tax rates than salaried employees and can earn £5,000 a year tax-free on read more

Tory government to raise taxes on the hardest working people in the UK

Theresa May faces a major Budget backlash after ripping-up an election manifesto pledge to freeze National Insurance and instead hitting 2.5million self-employed people with an unexpected tax hike. The rise unveiled by Chancellor Philip Hammond was branded a “rip off” for the country’s hardest workers, with critics – including Tories – warning it would hit low paid earners the hardest. Many raised concerns that the likes of cabbies or fast-food delivery drivers toiling in the "gig economy" for low rates, and with read more

Help to buy ISA Government “Scandal”

The government's Help to Buy ISA scheme has been branded a "scandal" after it emerged that up to 500,000 first-time buyers cannot actually use it towards a deposit on a house. At the launch of the scheme last year, former chancellor George Osborne said it would provide "direct" government support to people saving for a deposit on their first home. Deposits, typically 10% of the total cost of a house, are worth tens of thousands of pounds and are usually considered the biggest obstacle to home ownership. read more

Mortgage approval rates up Brexit!! What Brexit

More mortgages were approved for first-time buyers in June than in any month since August 2007, according to the latest data from mortgage lenders. People taking their first step onto the property ladder were advanced around 34,300 loans during the month, up 24% compared with May and some 17% higher than a year earlier. The figures from the Council of Mortgage Lenders (CML) also show that affordability measures for first-time buyers have remained relatively stable in recent months. The typical loan size increased to read more

The Cameron’s take a mortgage 8 days before the referendum

David and Samantha Cameron took out new mortgage eight days before EU referendum David and Samantha Cameron took out a new mortgage on their London home just eight days before the EU referendum. It has been reported that the couple signed a home loan arrangement with HSBC for their £3.5million Notting Hill townhouse in West London on June 15. The revelation calls into question whether the Prime Minister was planning his exit from Downing Street before the referendum results were announced on Friday. Brexit 2016: read more

Just more than half of all mortgages are covered by life insurance

According to a worrying new report from Scottish Widows, half of the UK’s mortgage holders have no life cover in place. This equates to 8.2 million people who have left themselves and their families financially exposed should the worst happen. The research also found that only 20% have a critical illness policy, leaving many more millions at risk of financial hardship or losing their home if they were to become seriously ill. 33% admit that if they or their partner were unable to work for six months or longer due to read more

In or out??? You questions on Britexit

Prices, property, pensions: 30 EU referendum questions answered Will the nation’s decision on 23 June make you richer or poorer? We address the key consumer concerns PRICES Will food prices go up or down if we vote to leave the EU? David Cameron says families would face increased food bills of more than £220 a year if Britain left because so much of our food is imported from the single market. His claims are based on a belief that the pound would fall in value by 12%, making imports more expensive. But critics read more