13-February-2017 The Government’s new white paper, ‘Fixing our broken housing market’, includes proposed initiatives to help the over-55s downsize from under-occupied family homes. It is hoped that by encouraging older people to move to a more suitable property, the initiatives could free up thousands of homes for younger generations. According to research, 3.4 million pensioners’ […]
Help to Buy Boom
6-February-2017 Thousands of would-be home owners are boosting their savings with the help to buy scheme. Despite the number of regular ISAs dropping, the Help to Buy ISA has proved a boon to first time buyers who are using it to get on the property ladder. When using the savings held within a Help to […]
New Threshold for Bank Protection
30-January-2017 The Financial Services Compensation Scheme (FSCS) – the safety net for savers – has raised its compensation limit from £75,000 to £85,000 for individual accounts and £150,000 to £170,000 on joint accounts. The FSCS was set up under the Financial Services and Markets Act 2000 and became active on 1 December 2001. It provides […]
Buy-to-Let Mortgage Deals End
18-January-2017 The number of buy-to-let mortgages on offer is falling as mortgage lenders react to new regulation and additional taxes on Private Landlords. The number of loans on offer has fallen from 1482 to 1408 in the past four weeks a drop which is unusual for the December period as this is usually a time […]
Help to Buy Mortgage Guarantee Ends
5-January-2017 The Government’s Help to Buy Mortgage Guarantee closed its doors at the end of 2016. The scheme ran from October 2013 and helped over 86,000 people to buy a home. The scheme gave lenders the opportunity of purchasing a government guarantee on mortgages with a loan-to-value of up to 95%, allowing them to help […]
12 Financial Resolutions for the New Year
3-January-2017 During Christmas, many of us spend a little more than we should – and the New Year is the perfect time to get our finances back on track. These 10 financial New Year’s Resolutions are the ideal way to improve your financial fitness for the year ahead. 1. Consider Lisa in April Who on […]
Buy to Let Market Moves North
30-December-2016 Changes to tax have hampered the Buy to Let market in the South but for landlords in the North of England the figures still stack up. Changes to stamp duty With the last April’s changes to stamp duty tax, times are tough for buy-to-let investors. Buy to let mortgage lenders are cutting the amount […]
The Ten Year Fix is Back
27-December-2016 The once unpopular ten year fix mortgage is regaining its popularity and here’s why. Uncertain times With the vote to leave the EU came uncertainty. Will interest rates go up or continue at their record breaking low? Nobody knows but as uncertainty grows, many borrowers want the security of knowing how much their mortgage […]
Couples Would Rather Die Than See Their Savings go on Care Costs
15-December-2016 The elderly are paying lawyers to draw up legal documents that specify they would rather die than have inflated care home fees use up their children’s inheritance. According to a leading law firm, the soaring cost of care is driving many middle-aged couples to make a Lasting Power of Attorney (LPA), recording their wish […]
Care Homes Failing the Mum Test
13-December-2016 Chief Inspector of Adult Social Care at the Care Quality Commission Andrea Sutcliffe says that almost a third of services are failing what she calls the ‘mum’ test. The Care Quality Commission is an independent organisation that regulates the provision of health and social care in England. The Commission inspects care providers to ensure […]
Emotional Blackmail for Families to Pay Top Up Fees
12-December-2016 Around a quarter of care home residents are now funded in part by ‘top up’ fees because Local Authorities are not paying care homes enough to cover the full cost of care, it has been reported. These additional payments ought to be charged when someone opts for a more expensive home than the Council […]
Landlords Incorporate to Reduce Tax Liability
8-December-2016 Landlords are setting themselves up as limited companies to avoid the government’s new buy-to-let rules that come into force next April. Approximately 11 per cent of the UK’s landlords have established themselves as a limited company in order to pay the lower tax rate on their buy-to-let profits. A further 25 per cent of […]
Denied Insurance Under the Flood Re Scheme
23-November-2016 Homeowners whose property is in an area at risk of flooding are being denied insurance because their properties have been recorded incorrectly by the same scheme designed to help them. Approximately 350,000 homes could benefit from the Flood Re scheme which was launched in April and backed by the UK Government. The scheme raises […]
Dementia Overtakes Heart Disease as Number One Cause of Death
18-November-2016 Dementia is now the number one cause of death in England and Wales, overtaking heart disease. 11.6% of deaths now result from the condition – compared with 11.5% for heart disease, according to official figures. Although the detection rate has risen, there is still no cure at this time. The ageing population and rising […]
Care Funding Slow, Patchy, Cruel and Not Fit for Purpose
16-November-2016 A recent report published by the Continuing Healthcare Alliance – ‘Continuing to Care?’ – has criticised how the NHS allocates Continuing Healthcare Funding (CHC). The Alliance – comprising of 13 charities that include the Alzheimer’s Society, Age UK and Parkinson’s UK – has condemned the NHS for subjecting the elderly and sick to a […]
Cheaper to Buy Than Rent
14-November-2016 Soaring rents and falling mortgage payments have meant that it is cheaper to buy a home than to rent one in 13% of the UK, according to Experian. Over the past year, rents have risen across 217 districts, but mortgage payments have fallen in 248. Experian found that in 51 of the 372 Local […]
Increase Purchasing Power – Buy a Home With a Friend
10-November-2016 With house prices soaring in some areas of the country and some 250,000 homes costing £1 million or more according to Lloyds Bank, first time buyers are facing an ever increasing struggle to get a foot on the housing ladder. The Government’s mortgage guarantee scheme is due to end next month, another blow to […]
New Buy as You Go Tenancies Considered
11-November-2016 Families who are in rented accommodation could be allowed to buy their homes with a deposit or a mortgage under a new ‘buy as you go’ scheme. The plans from the National Housing Federation are being considered by senior government officials. The Prime Minster Theresa May said housing was a priority as part of […]
Rigid Testing Delaying Referral for Dementia Diagnosis
10-November-2016 A study by the Imperial College London has revealed that dementia patients are facing unnecessary delays in receiving a diagnosis for dementia at some memory clinics. The delays result from complex and restrictive access criteria to the clinics, according to doctors. Around 850,000 people in Britain suffer from dementia with the number increasing due […]
Social Media Used By Mortgage Lenders
9-November-2016 An increasing number of lenders and insurers are using online activity, including social media posts and profiles, to help them make judgements about the credit-worthiness of their customers. According to privacy campaigners and credit reference agencies, lenders use algorithms and detailed models to categorise their customers into ‘types’. Fintech Company ‘Big Data Scoring’ helps […]
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