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Personal Finance
Why a mid-life financial MOT is absolutely vital in your 50s
Thursday 20 Jul 2023Almost half of pension savers in their 50s and 60s have not considered how they will access their retirement pot, according to new research by the Institute for Fiscal Studies. Its analysis suggests lots of us are heading towards retirement unprepared, with little consideration for the financial...
How to beat the banks as the gap between savings and mortgage rates surges
Thursday 13 Jul 2023High street banks stand accused of short-changing savers by not passing on the full interest rate rise since the Bank of England hiked rates. Now the Government, regulators and news sites are all focused on the gap between what banks are charging on mortgage rates and what they are offering cash...
Should you overpay your mortgage or take advantage of 5.9% rates on cash?
Thursday 06 Jul 2023The mortgage market is in a state of turmoil, as deals are being regularly withdrawn and replaced with contracts carrying more punitive interest rates. This has been driven by the Bank of England tightening monetary policy, but also more recently some bad inflationary data which has caused the...
How to use your children to cut your capital gains tax bill
Thursday 29 Jun 2023The Government has cut the amount you can make in capital gains before you face tax, and it’s taking an axe to the tax-free allowance again next year too. However, some clever family planning can help those who are sitting on gains to protect their wealth from a tax hit, both now and in the future...
Cash savings account: should I go for a fixed or variable rate?
Thursday 22 Jun 2023When it comes to cash savings accounts, the variety of options available can make your head spin if you’re not careful. A fixed-rate account promises you a specific return on your savings over a defined period. This can range from a single year, up to five, sometimes even more. Your interest rate...
Why your pension provider will soon warn you about holding too much cash
Thursday 15 Jun 2023New rules from the regulator will mean that from December this year you will get an email or letter from your pension provider if you have a lot of cash in your pension. There are a few criteria you’ll have to meet: that more than 25% of your pension is in cash, that this figure is more than £1,000...
Is now a good time to buy an annuity?
Thursday 08 Jun 2023The significant rise in interest rates we have seen in the last 18 months is putting huge pressure on businesses and the mortgage market, but it’s an ill wind that blows no-one any good, and there are some people who will be quids in from the Bank of England tightening monetary policy. Cash savers...
You can invest and save using more than one different type of ISA
Thursday 01 Jun 2023There are six distinct types of ISA, meaning the savings system has got complicated. Understandably people might want to have more than type of ISA, but is that possible, which ISAs can you use together, and how much can you pay into each? Let us look at a few scenarios. Scenario 1 I put £1,000 in...
Which ISA is best for you? Read our guide to the different types
Thursday 25 May 2023The Individual Savings Account, better known as an ISA, was launched almost a quarter of a century ago, in 1999, and has been a success story in helping people save and invest for their future. However, in recent years the ISA landscape has been a bit more cluttered than it used to be, with new...
Beware: the expensive mortgage rate you should avoid at all costs
Thursday 18 May 2023Lots of homeowners are facing the prospect of re-mortgaging in the next year, coming off their cheap fixed-rate deals from the past few years and into a market where mortgage rates are far higher. With another rate increase hitting homeowners on 11 May, there’s no doubt that the mortgage market is...