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Mortgages

Ageism in Mortgages

It has been common knowledge in adviser circles that mortgage providers have been very “tricky” to deal with when the prospective mortgage holders are much more than 55. Even people who would normally be considered to be financially secure have found it difficult to find mortgages to last long enough to suit their circumstances. The Daily Mail today gives details…

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Is Edwina Currie right about the young?

Edwina Currie, the ex-Conservative politician and ex-lover of John Major has an opinion piece in the Saturday Telegraph and the website that suggest the spending habits of the young are responsible for their inability to save for buying a house and save for a pension. (See the original article at http://www.telegraph.co.uk/finance/personalfinance/pensions/12102364/Hey-youngsters-No-pension-No-home-No-wonder.-Look-at-you.html. As probably one of the last of the “Baby-Boomers”,…

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Yet another blow to Buy-To-Let investing

The recent Autumn Statement appears to have delivered another hammer-blow to Buy-to-Let investing, as it introduced an additional 3% Stamp Duty on second and buy-to-let homes from 1st April 2016. We do not have the finer details as the government will consult, but there have been suggestions of exemption for corporate owners and investment funds with more than 15 properties….

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Buy to Let – still an option?

Recent taxation decisions announced by the Chancellor do not seem to be putting some people off as I am still being asked about Buy to Let, (BTL), as an investment strategy. I have an issue with Buy-to-Let as running a small property empire is not a sinecure and has not been for some time. An article in the Telegraph on…

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A Young Adult’s Guide to Buying a House

For someone who has been working for a few years or has graduated and has a steady career, the next big financial goal is usually a home of his or her own. Much press coverage has talked about the “Boomerang Generation”, (offspring returning to the family home every few years, driven by unemployment, poor health or a bad partner choice),…

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Additional complications for Landlords

One of the usual dinner party conversations, once people know you are an IFA, (independent financial adviser), is should they invest in “Buy To Let”? For a number of reasons, I hate giving an opinion on this, as there is not a simple yes or no answer. On the plus side, it is a way of getting ‘passive’ income, an…

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Sorting out after a death

I received an email from a friend and a client who had not long ago lost their remaining parent. The funeral is later this week, but the executors, my friend and his sister, are trying to get everything done in a hurry as the equity release mortgage is costing over £400 per month in additional interest. The first thing is…

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Should I try Buy-to-Let as an investment?

Now that Pension Freedom day has passed, a significant number of people who have delayed retirement until now have their tax free cash and ‘freed’ pension pots burning a hole in their pockets. Leaving the cash in a bank account has a minimal return, so some sort of investment is almost compulsory. The mainstream press and I include programmes on…

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Two sides of the coin: self-invest or take advice?

Two articles from the press were brought to my attention over this last week; one in the Telegraph on Saturday, March 7th headlined “This year, become your own fund manager” and the second in The Spectator for the same date headlined “The real point of a financial adviser is to save you from yourself”. You can find the original articles…

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Mortgage market changes

Now we are well into the new financial year, the mortgage market changes following the Mortgage Market Review, (MMR), are now really beginning to bite. The key changes following the MMR are detailed on the Financial Conduct Authority, (FCA), website, (http://www.fca.org.uk/firms/firm-types/mortgage-brokers-and-home-finance-lenders/mortgage-market-review), but the practical impact has been a little unexpected. For any potential borrowers hoping to find an interest only…

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