Most mortgage borrowers aim to make sure their home loan is paid off by the time they retire. The idea of repaying a mortgage without the regular income that a salary brings is not an attractive option for many.
Banks, as a rule, tend to be wary of offering mortgages to older borrowers, knowing that there is less time in terms of prime earning years for the mortgage to be repaid in.
Your current home may well be the place where some of your happiest memories were created. Realistically, however, downsizing may be an excellent way of financing many more. Here is a quick guide to some key questions on the topic.
Why should I downsize my home?
Home may be where the heart is, but property has a financial value.
Tim Collyer, chartered financial planner at London-based Alexander House, has been keeping his eye on recent dramatic developments in Asia.
One of the grim inevitabilities of the winter months in Britain is the prevalence of flooding.
Britain has experienced several years of above average rainfall that many scientists attribute to climate change.
In 2007, for example, the country was 20 percent wetter during the winter than any other year since records began in 1879.
Some studies have suggested that flooding is in part due to the development of towns, cities and farmland, preventing natural drainage from taking place.
As the song goes “I got bills, I gotta pay, so I'm gon' work, work, work every day.” At some point however, people may want or need to give up going to work every day. Even younger people need to think about how they will pay their bills if they are unable to work for any reason.
Most people start families in their 20s or 30s and this is also the first time they think about family protection, life insurance and making sure that their loved ones are taken care of if they die.
Once this life cover is purchased, it is common to forget all about it and only review it every couple of years when a review of ones finances is due.
If you reach state pension age on or after 6th April 2016 then you will come under the rules for the new state pension. Here is a quick guide to what that means in practice.
Out with the old and in with the New State Pension – What exactly changes?
Under current rules the state pension is divided into two parts.
Advisers have many reasons for using index funds, but essentially they are just one weapon in an IFA’s armoury, according to Tim Collyer, chartered financial planner at London-based Alexander House Financial Services.
Apple Pay has now arrived in the UK. Paypal has now outgrown eBay. Visa Europe is said to be in talks to be bought back by its larger sibling Visa Inc. In short, digital payment systems are big business in every sense of the phrase.
Notwithstanding this, cash is still very much a part of life around the world.
COVID-19 (Coronavirus) update from Alexander House - SKYPE is the safest way to receive financial advice
We understand the uncertainty and concern causing you to re-evaluate how you interact with your own Financial Adviser as a result of the COVID-19 situation. At Alexander House, we have won awards based on our innovative way of communicating with Clients and Staff alike. From Glasgow to Bournemouth we have fully FCA regulated and FOS protected professional Financial Advisers nationwide who routinely conduct ‘virtual’ meetings via Skype or Zoom - so you can discuss any new or existing plans safe in the knowledge that all channels are fully encrypted, secure and safe so not to impact on the measures you are taking to protect everyone around you. We can even help you setup Skype on your laptop, tablet or Smart Phone. We are continually monitoring the situation, including travel restrictions and any market updates that may impact our clients and we will be in touch accordingly. Please let the team know if you wish to ‘meet’ your adviser via Skype for Business or Zoom and we will get a meeting set up. Please email admin@alexanderhousefs.co.uk or telephone 0800 816 1811
