It’s likely to have taken many years of hard work to build up your savings or pension and it is vital to make sure your pensions and investments will earn you a good return when you retire.
Nobody likes to think that the worst that could happen, but it is important to consider, especially if you have family dependent on your income. You need to make sure that you are still able to pay your mortgage and bills if you are unable to work due to illness, so protecting your assets with adequate insurance cover is essential.
Buying a property is likely to be your largest financial outgoing, so make sure you get your finances in place with the right mortgage. Whether you need a standard residential mortgage, a commercial mortgage, buy to let, let to buy or equity release, you’ll find the right option for you.
If you consider yourself too youthful to be thinking about a pension and feel that you will start to save nearer the time of your retirement, you should think again. Take advantage of the tax relief and start to save for your future as soon as you can with a SIPP, workplace pension or personal pension plan.
Protection insurance is an essential part of your financial plan. Although you can do everything in your ability to remain healthy, illness is indiscriminate. If you are too ill or injured to work, your mortgage will still be paid if you have adequate protection cover. If the worst happens and you pass away, your family will not be financially burdened if you have a life insurance policy.
An equity release mortgage can allow you to squeeze some of the cash out of your home to fund a holiday, supplement our pension or gift funds to your family.
A lifetime mortgage is a type of equity release plan that allows you to use some of the equity that has built up in your home. You could use the cash to do anything you choose – from providing additional income to going on that dream holiday.
You may have a building vision that you want to turn into a commercial reality. Property development finance is a type of loan which provides the funds for the refurbishment or development of residential or commercial properties.
If you have found your next dream home and your offer has been accepted but you can’t sell your current house quickly enough, a bridging loan provides temporary finance to avoid the frustration of losing the house you have set your sights on.
A commercial mortgage is any mortgage held on a property in which you do not live. There are two types of commercial mortgage – business mortgages and commercial investment mortgages.
If you wish to buy a property and let out your existing home, you will need a specialist let to buy mortgage. This type of mortgage allows you to let out your property so you can buy another.
A buy to let mortgage allows landlords to borrow a sum of money to buy a property for the sole purpose of renting it out. Many people buy properties to rent out in order to make a profit or to invest in their future.
Your home is likely to be the biggest purchase you will ever make, so it is vital to understand the finance you will need to buy it. A residential mortgage will help you take that first step onto the property ladder.
A general investment account – or GIA – is a flexible savings account which allows you to hold a variety of investments, aside from an ISA or pension fund.
Cash ISAs Fixed rate ISAs Stocks and shares ISAs Help to buy ISAs Junior cash ISAs Junior stocks and shares ISAs The terms of each […]
Flexible drawdown is also known as flexi-access drawdown, due to the increased flexibility it provides over other types of pension. This greater flexibility can also reduce the amount of tax you pay on your pension. Drawdown provides the flexibility to vary your income to meet your needs.
A SIPP – or Self-Invested Personal Pension – is a do-it-yourself alternative to a standard pension. A SIPP is like a folder that contains all your investments and allows you to benefit from tax breaks.
With a state pension no longer guaranteed, an individual personal pension is imperative to ensure you are financially secure in your retirement. Take advantage of the tax relief as soon as possible and start to pay into a plan.
A type of insurance policy that pays out if you are diagnosed with a life-threatening illness or a condition which leaves you unable to work, critical illness cover provides a tax-free payment to cover your mortgage, bills and living expenses.
Mortgage protection insurance covers the cost of your mortgage payments if you are unable to work through illness or injury, or you lose your job.
Regardless of how old you are, you should start saving in a pension as soon as possible, especially if your employer is contributing. The sooner you start saving, the sooner you can start to build up the funds you will need to live on in your retirement.
Group protection insurance provides cover for an employee who is unable to work for an extended period of time due to illness or injury.
A relevant life insurance policy is taken out by a business to provide life insurance cover for an individual employee. It’s an alternative to death-in-service benefits for employees outside of a company life insurance scheme.
If a stakeholder in a business develops an illness or dies whilst they are in employment, it can have a major financial impact on the business. Keyman insurance takes care of the cost of replacing their salary if they can’t work due to death, illness or injury.
Shareholder protection insurance exists to maintain the stability of a business if a shareholder passes away. A policy will pay a lump sum to the remaining shareholders or business owners to purchase the individual’s shares in the company.