NEWS & INSIGHTS

Equity, currency, and bond markets have been in turmoil since early April, triggered by Donald Trump’s escalation of tariffs on all US trading partners. The new tariffs, which average 20-25%, vastly exceeded market expectations, are significantly higher than the 4.6%...

The Bank of England’s decision to cut the lending rate from 5% to 4.75% this week will be welcomed by home owners up and down the land, with those on tracker mortgages expecting an immediate reduction in their monthly payments.   The cut will also be seen as a...

Since 2022, mortgage rates increased at a record pace, with the 10-year fixed mortgage rate doubling between March 2022 and December 2022. With inflation increasing, the Bank of England introduced several bank rate rises, resulting in higher mortgage rates. Thankfully...

Nationwide, the UK’s biggest building society, has unveiled a new product aimed at first-time buyers, which offers an increased loan to income from 5.5 x to 6 x. Those looking to get on the housing ladder would be required to take out a five or ten-year fixed-rate...

Volatility describes periods of unpredictable, and sometimes sharp, market rises and falls. It's natural, but unnerving. Let us guide your pension planning. Whatever you do, don't panic. The value of investments rise and fall for all sorts of reasons - interest rate...

The Financial Planning Group are proud to celebrate its 10th year of achieving corporate Chartered status from the Chartered Insurance Institute. We are Chartered Financial Planners, publicly committed to a customer-first approach and values that align with a...

In 2024, about 4 billion people around the world will be eligible to vote in an election. This is a significant number that could have implications for the global economy, politics and markets. We will focus on two of the most notable elections from 2024: the UK and...

With almost half of 2024 behind us and the UK and US General Elections on the horizon, we share the latest views on the global economy, including the outlook for growth, inflation, jobs, and interest rates. Key points Underlying US economic growth was stronger than...

The gender pay gap is currently 7.7%. The gender pension gap measuring the amount of money in a pension fund at age 65 is £100,000. Leading to an average retirement income gap of 39% or £7,000 per year between men and women.  The Equal Pay Act is 48 years old, yet...

The Financial Planning Group office will be closed from 22 December and will open again on 3 January 2024.

With house prices having fallen during 2023 and lenders reducing rates, we are perhaps starting to see some chinks of light at the end of the tunnel for first time buyers struggling to get their first foot on a rung of the property ladder. A First Time Buyer Report...

Chancellor Jeremy Hunt presented his Autumn Statement on 22 November during which the government confirmed the second highest State Pension increase since it was introduced and nine documents were published relating to the pensions framework. These included calls for...

Here at The Financial Planning Group we monitor rates daily and can switch our clients to lower rates if a mortgage offer has been issued but not gone live. For example, a client had an offer accepted in mid-September at which point the best two-year fixed rate was...

Recent data by Standard Life shows that close to half (45%) of UK adults are concerned about the financial decision-making of their more vulnerable relatives as they get older, with 1 in 10 (10%) saying their relatives have made poor financial decisions in the past...

No deposit - No problem - 100% Mortgages are back. Mortgage lenders are now starting to provide products for people with a strong history of making rental payments over a period of time – therefore demonstrating they can afford mortgage repayments. These lenders are...

Nearly two thirds (64 per cent) of Brits do not feel confident about their retirement, whilst 36 per cent don’t feel confident about planning for retirement, research by workplace pensions specialists, Penfold, has revealed. The survey of 2,000 British workers also...

Figures released in August underline that an increasing number of families are being dragged into the inheritance tax (IHT) net due to years of house price increases, soaring inflation and tax freezes. Inheritance tax receipts are up 10% year-on-year with many also...

The last twelve months have been a real white knuckle ride for mortgage holders in the UK, many of whom have faced huge levels of stress and financial pain as interest rates have risen. Monthly costs have soared for thousands up and down the land and even if you are...

The amount of housing equity unlocked by the UK’s older homeowners jumped by 28 per cent to £5.2bn in 2022 according to figures obtained from the Financial Conduct Authority (FCA). It is a trend that many industry analysts predict will rise further due to an economic...

A new mortgage product has been launched aimed specifically at people who are currently renting. The deal, which lets buyers purchase a home with no deposit, requires house hunters to have a good credit history as well as a record of 12 months or more having paid...

Did you know that most lenders offer the option to “switch to fix”, which means you can take out a tracker mortgage then, when you feel fixed rates have hit bottom, switch penalty-free from the tracker onto a fixed rate with your existing lender without the need for...

A “golden opportunity” for workers to boost their state pensions has been extended, after it was reported that chaos on civil servant phone lines risked thousands missing out. People without a full National Insurance (NI) record are not entitled to the full state...

The latest data released by the Treasury shows that it has received record tax receipts across income, capital gains and inheritance taxes over the past year, however, tax experts warned this was unlikely to prompt cuts in personal tax rates in next month’s Budget....

The FTSE 100 reached an all-time high recently amid investor hopes that global inflation may be peaking, and central banks are nearing the end of aggressive interest rate hikes. The UK's blue-chip index reached a record high at market close of 7901.80. Sectors...

The Bank of England’s decision to increase the base rate to 4%, with an expectation it could increase further to a peak of 4.5% in March, was met with a reassured reaction from mortgage lenders, who believe the medium-term outlook is for rates to fall. For example,...

  The government netted £5.3bn from inheritance tax (IHT) between April and December 2022, which was £0.7bn higher than in the same period a year earlier, latest official statistics show. Figures from HM Revenue & Customs (HMRC) showed frozen thresholds were...

Planning for retirement, or later life finances, are topics that, for most people, are firmly placed in the ‘deal with later’ part of our brains, even though we acknowledge how critical both are to later life wellbeing and security. Equally, you won’t be too surprised...

The property and mortgage lending market may be a challenging one right now – Kwasi Kwarteng’s disastrous mini-budget in September saw mortgage rates rocketing at a time when the cost of living crisis was starting to bite – a combination that has lead British banks...

Soaring inflation figures over the past year or so have had a big impact on the UK economy, not only for those who have seen the surge in the cost of living erode household finances, but also to those who have a lump sum to invest, but are facing a landscape that...

Last week we saw the Bank of England increases its base lending rate by 0.5% to 3.5% – it was the ninth time in a year that the Bank had increased rates after it first lifted them to 0.25% from 0.1% in December 2021. However, on the same day, some mortgage lenders...

Instead of sending Xmas cards this year, The Financial Planning Group will be making donations to the Shooting Star Chase, British Heart Foundation and The Richmond Christmas Day Dinner charities. To join us in making a donation please click the following links....

Stock returns are volatile, but over time bull and bear markets show that the good times have significantly outshined the bad times. When the bull and bear markets are viewed together, it’s clear equities have rewarded disciplined investors. The stock market’s ups and...

Following recent changes, it should be remembered that dividend allowances will be cut from £2k to £1k in April, then reduced to £500 from April '24. The annual exemption for capital gains tax drops from £12.3k to £6k from April, then to £3k from April '24. If you...

New lending in the equity release sector totalled £1.5bn in the third quarter of 2022, which is a new record. This rose from a total of £1.05bn last year, as the average borrower released £114,354 from their property during this quarter. Borrowers in London unlocked...

Although we have seen consistent interest rate rises over the past months, as the Bank of England looks to tackle rising inflation, those who predicted a profound dip in property prices with spiralling mortgage rates, or a similar scenario to the 2008 financial...

Silver lining is emerging for homeowners following recent surges in mortgage borrowing costs that have caused widespread concern and contributed to the fall in house prices – latest data shows that fixed rates continue to fall from the highs following September’s...

Jeremy Hunt used the Autumn Statement in an attempt to calm markets and reset public finances with a series of tax rises achieved through cuts and freezes to allowances. In his first few days in office he had already reversed most of the measures announced in his...

After several weeks of turmoil and uncertainty in the mortgage market, we thought it would be useful to provide up-to-the-minute details on the current deals and options available to homeowners needing to consider a mortgage or re-mortgage, or those with a fixed rate...

It has been widely reported that the chaotic financial events witnessed in recent weeks has had a profound impact on the mortgage market – with homeowners facing a worrying scenario of spiralling rates and huge uncertainty. Although the newest Chancellor, Jeremy Hunt,...

Despite news stories currently circulating about mortgage lenders removing products from the market, here at The Financial Planning Group, we are still able to offer clients a FIVE YEAR FIXED RATE DEAL AT 3.91%. As you will no doubt be aware, market analysts believe...

With interest rates around the world set to rise again this week, increases that will impact the pockets of UK homeowners through higher mortgage costs, some borrowers could be saving thousands simply by moving off a standard variable rate (SVR) onto a new deal. You...

    Halifax has partnered with the Energy Saving Trust to develop a Home Energy Saving Tool which helps identify the types of energy efficient improvements you could make to help the environment, from better insulation to solar panels. It shows how much...

As you will no doubt be aware, the Bank of England raised interest rates again last week – this time by 0.5% to 1.75% – as it attempts to slow soaring inflation figures, which is predicted to hit 13% before the end of the 2022. Mortgage lenders were quick to pass on...

By David Booth Executive Chairman and Founder of Dimensional Fund Advisors When I was growing up, our local newspaper, the Kansas City Star, was full of news and had one page for opinion. After decades of cable news and nonstop digital postings, I see more opinions...

Historically, some people have pigeon-holed equity release as a product of last resort, however, over the past few years, it is frequently being used as a better accepted financial planning tool, a springboard to achieving retirement ambitions or an opportunity to...

The increased popularity of equity release so far this year further demonstrates greater flexibility and a property market where growth has far outstripped inflation. Retirees are becoming more aware of the opportunities that are available to them and are looking to...

  The introduction of no fault divorce laws in England and Wales were announced this week – long-awaited changes that are intended to make the legal process easier and more amicable when a marriage comes to an end. For many couples it is often the case that ‘the...

Over the past few months, the Bank of England’s Monetary Policy Committee has sent clear signals that it intends to tackle inflationary pressures by restoring its Official Bank Rate back to its pre-Covid level of 0.75%, which of course leads to mortgage rate rises....

According to recent press reports, homeowners will be hit by rising mortgage bills if the Bank of England heeds economists’ calls to increase interest rates in order to tackle the spiralling price of everyday goods. The Bank is facing mounting pressure to put up...

  Investors are often conflicted about record-high stock prices. They are pleased to see their existing portfolio holdings gain in value but apprehensive that higher prices somehow foreshadow a dramatic downturn in the future. The traditional “buy low, sell high”...

Those are the findings of a recent report into the long-term plans of the nations retirees and calls into question perceived ‘downsizing’ ambitions as we grow older. Those questioned said they were simply too attached to their homes to consider moving, with those...

Why do people invest? The answer is usually to make money. There are various nuances but the primary objective, however, is profit. Historically, many of the highest yielding investments have focused on industries and companies that don't necessarily ‘do good' in the...

Over the last few years the Lifetime Mortgage and Property Equity industry has seen a significant evolution, with many homeowners using the money locked into the value of their existing property to give themselves and their families greater flexibility and investment...

According to the latest property sales data by Hamptons, house prices looks set to end 2021 around 4.5% higher than a year ago, with a record 1.5 million homes having changed hands. Forecasts also point to further rises over the next three years – sparked by the...

You can give your child or grandchild an enormous boost to their retirement planning with modest pension contributions today. Any UK resident under the age of 75 can add up to £3,600 into a pension plan each tax year, irrespective of their earnings. For example, by...

According to the latest data, 2021 is poised to be a record year for equity release growth in the UK – and with more equity release products available across the country, property wealth is increasingly being used as another element of retirement income, alongside...

Over the course of a working lifetime the majority of people change jobs numerous times – often necessitating signing up for a new pension scheme with each move. The legacy pension pots are then, usually, ‘forgotten’ about to deal with at a later date. Whenever that...

The latest data relating to the fast expanding lifetime mortgage market points to wealthier home owners ‘cottoning on’ to the opportunities provided by record property values and low interest rates. In recent years, lifetime mortgage rates have halved, and many...

According to the April’s mortgage data, UK homeowners’ borrowing levels were higher than in any month since comparable data began almost thirty years ago – caused in the main by the extended stamp duty holidays and very low mortgage rates. As we emerge from lockdown...

Today sees the government's 95% mortgage guarantee scheme go live, which is available for properties of all ages (previous schemes were for new build only) for those able to provide a 5% deposit on property with a maximum value of £600,000. The scheme is scheduled to...

Data released earlier this month underlines a continued growth in the property equity industry in 2021, with lenders evolving their products to match increasing demand, as well as competition in the market place. This, in turn, is providing far better options for...

If you are aged 65 or over and living in, or buying, your own home with a small or no mortgage and want to borrow £10,000 or more, there is a new ‘optional payment lifetime mortgage’ product you may be interested in – especially if you’d like to pay some, or all, of...

The Financial Planning Group has a fiduciary duty to treat all our clients fairly and act in their best interests. We strive to provide a consistent client experience that is both fair and reasonable. Ensuring that clients in vulnerable circumstances are treated with...

It has been a hectic start to the New Year for the UK property market, and despite the current lockdown restrictions, estate agents and mortgage advisors are very much open for business and busy as the Stamp Duty holiday cut-off looms into view – not to mention...

According to the Secretary of State for Housing, Communities and Local Government, Robert Jenrick, the property market will stay open during England’s second lockdown which is due to come into effect on Thursday and set to last until at least December 2nd. In a series...

The Nationwide Building Society has published its latest report into the UK’s housing market, with September’s data showing that home prices are continuing to grow at the highest rate since 2016. Annual price growth in Greater London has now edged to 5%, with the UK...

According to the latest housing market data, UK house prices have continued their post-lockdown recovery, with August witnessing the highest monthly rise (2%) in more than 16 years. House prices have now reversed the losses recorded in May and June and are at a new...

Chancellor Rishi Sunak unveiled an economic update to the nation yesterday, in which he announced several measures aimed at stimulating key areas of the economy as we edge out of Covid-19 lockdown, targeting both business and individuals. Whether these measures will...

In the past few months we have seen average rates on fixed rate mortgage deals fall by over 0.5% – which will be welcomed by home owners up and down the land as we tip-toe out of lockdown into an uncertain economic landscape.   The Bank of England’s move to cut the...

Being mortgage-free at 55 is a situation many of us can only dream of – lifting the pressure of making monthly repayments and freeing your budget to focus on what really matters in your life is without doubt a shared aspiration. Financial peace of mind in times of...

The re-opening of the UK property market, following seven weeks of restrictions during lock-down, has seen a surge in viewings and offers, a combination which, it is hoped, will stave off the worst of the predicted house price drops from reaching fruition – in the...

  More people have been spending their time online under lockdown, whether to connect with family, carry out their work from home, or stay entertained with film and TV streaming sites. Unfortunately, this uptick in internet usage has also led to a spike in...

A series of emergency financial measures have been introduced in the past week or so, leaving many people unsure as to who’s eligible for what and when. This handy matrix guide offers some clarity to individuals/employees, self-employed individuals, as well as...

We wrote last week about our service and the steps we were taking in response to Coronavirus. We have been monitoring the situation closely and updating our planning. We are open and here to serve our clients. Looking after our clients, colleagues and their families...

Here at The Financial Planning Group, we are assessing the COVID-19 situation on a daily basis and, as officially nominated Key Workers, our office will continue to operate as close to normal as possible and our staff will remain available during office hours to offer...

We have had a lot of calls from clients keen to take advantage of the many medium and longer term fixed rate mortgage, or re-mortgage, deals currently available.    With so much uncertainty right now, many home owners are preparing in advance and fixing their monthly...

  Rishi Sunak’s first Budget took place against the backdrop of the global outbreak of COVID-19.  Not surprisingly the UK’s response to this was the initial focus – providing some much needed short term financial measures in the current uncertainty, from ensuring...

Like many people who have moved jobs, or even changed careers, during a working lifetime, you may be in a position where you have several smaller-sized pension pots spread out over several different companies. In most cases, consolidating a ‘patchwork of pensions’...

Is your mortgage is with Santander, Barclays, Natwest, Virgin, Nationwide, or any other bank or building society? If so, you could be paying too much for your mortgage every month and, as an existing borrower, The Financial Planning Group can help you transfer to a...

According to data released this week, UK banks approved the highest number of mortgages since 2015, as more signs of an upturn in the housing market emerge since December’s election. The Nationwide Building Society also report that annual house price growth across the...

New data released shows that since pension freedoms were introduced in April 2015, the nation’s 55-year-old-plus home owners have used property wealth to deliver £13bn of extra income. In fact, as we approach the pension law change’s fifth anniversary,...

Despite a subdued market, as well as continued uncertainty surrounding the impact that Brexit will have on our everyday finances in the short term, house prices in the UK rose by 1.4% during 2019 according to figures just released by one of the nation’s biggest...

Standard Life's Wrap platform picked up one of the big accolades at last week's 2019 UK Platform Awards. Standard Life’s Wrap proposition won Best Platform Provider (over £25Billion). We at The Financial Planning Group remain committed to providing our clients with...

A nervous TV reporter once approached legendary Nottingham Forest football manager Brian Clough and hesitantly asked: “Can we have a couple of words for the programme, Brian?” The normally belligerent Clough nodded with unusual acquiescence. The camera was readied,...