NEWS & INSIGHTS

  Britain’s parents and grandparents are supporting their children’s attempts to get on the housing ladder at ever-increasing levels it has been revealed, with the ‘Bank of Mum and Dad emerging as the nation’s 10th biggest ‘mortgage lender’ according to new data...

  Further calls have been made for Banks and Building Societies to better inform their customers when discounted loan deal periods are set to expire – with a ‘four month notice’ alarm sounding rather than allowing homeowners to sleepwalk into extra standard...

Over the past few years there has been an increasing amount of media coverage, and media advertising, focused on Equity Release and Lifetime Mortgage products. You’ve no doubt seen the television marketing that has started to pop up during day-time ad breaks. Equity...

Nobody likes a bad news story, or hearing about how peoples’ lives have been affected by a tragic twist of fate or a sudden life-changing illness or injury, but it is an unfortunate fact that sometimes the circle of life turns to impact a family member or loved one…...

According to data released by financial analysts, Canada Life, inheritance tax (IHT) receipts are set to double over the next decade, which would equate to £10bn per year by 2030. IHT receipts hit record levels this year already, jumping to £5.4bn, up from £5.2bn in...

The Bank of England has indicated that interest rate rises could become "more frequent" than had been previously forecast - with the Bank’s Governor, Mark Carney, predicting that if the ongoing Brexit stalemate continues, along with an expected pick-up in inflation...

With the new financial year start-date just a week away, we thought it was timely to update our clients and professional partners on the five main changes to tax rates and allowances that could affect you over the next 12 months. If you have any questions regarding...

Investors look set to be handed new exit fee freedoms by the Financial Conduct Authority (FCA) according to recent reports, with the regulator calling for a ban, or cap, on the charges some investors face when switching to a new investment platform. The call to...

If at all humanly possible, accepting your lender's ‘Standard Variable Rate’ is a situation that no UK family should consider accepting, unless of course, you enjoy spending your hard earned wages on unnecessary interest. There should also be no need to feel like a...

The last couple of years have been a tough old time for UK buy-to-let landlords – with the Government removing favourable tax breaks, the implementation of more stringent affordability tests from lenders, plus a slowdown in house price growth – has combined to make...

With so much economic and political uncertainty circulating at the moment, whilst the Brexit Rollercoaster ride shows no sign of concluding, you may not be surprised to learn that Britain’s housing market has been left dazed and subdued. In simple terms, confidence in...

Unfortunately, for many married couples in the UK, the start to 2019 has been a far from happy period with  ‘break up bombshells’ being dropped up and down the land. According to data analysed by divorce support service Amicable, more than 40,500 people will search...

If you're one of the 5.5 million taxpayers leaving your self-assessment to the last minute, it may be worth checking you have a valid excuse for late submission. The Revenue classifies a reasonable excuse as something that stopped you meeting a tax obligation that you...

  As you will no doubt be aware, stock markets have been extremely jittery in recent days, due to the political situation on both sides of the Atlantic. In the UK, the FTSE 100 has bounced back to some degree after a heavy falls, however, with so much at stake...

November saw the retirement ages of both men and women achieve parity for the first time in 70 years, however, research by Aegon highlights that almost half of women (49%) admit they are not confident of being able to enjoy a comfortable retirement, compared to a...

Financial adviser research1 carried out by Old Mutual International highlights the importance of trust planning and the increase in demand from Clients. Financial Planners add real value when advising their clients on tax and financial planning aspects, and trusts...

With the Christmas office party season looming into view, small business owners have a lot to contemplate if they want to provide a memorable festive celebration for their staff to enjoy.  Rewarding hard-working staff is central to any office party, but it is often...

The software platform The Financial Planning Group uses to manage our clients’ investment portfolios has been recognised by an independent panel of judges, chaired by Personal Finance Society chief executive Keith Richards, as the best platform provider for funds over...

Did you know that a third of retirees spent more time choosing their car than they did choosing their pension? Ok, to many of us, enjoying the nicer things in life, and embracing a sense of Carpe Diem when the time is right is fully understandable, however, new...

To many older home owners, using some of the equity that is locked within the value of their home is becoming an increasingly attractive proposition, but choosing the right product, or lender, often makes research confusing and decision making daunting. Lifetime...

  Rising property prices and the increasing cost of further education mean that today’s young adults face a much greater financial hill to climb than previous generations. And increasingly it's grandparents who are coming to the rescue. The Council of Mortgage...

  Young professionals looking to purchase their first home, or move up a rung on the property ladder, were handed some positive news this week after the Clydesdale Bank launched a home loan deal offering more generous income limits for those who have qualified...

As people get older, unfortunately, there may come a time when they are no longer able to make financial decisions for themselves. As that time approaches many people choose to set up a lasting power of attorney arrangement whereby a trusted friend, or family member,...

Enjoying your retirement, after years of hard work, is a situation we all hope to achieve, however, many pensioners struggle with fears about over spending, or running out of money later in life, meaning that when it becomes time to relax and enjoy their savings,...

offers a reminder of the importance of saving into a pension at as young an age as possible, as columnist Sally Hamilton tells readers, her one big financial regret is not starting to put money aside for retirement earlier. "Retirement saving was not my priority back...

General Data Protection Regulations In line with our obligations under the new general Data Protection Regulations (GDPR) that come into effect on the 25 May 2018, we have prepared a detailed privacy notice which sets out the personal data that we collect and the...

Having absolute confidence in those entrusted to look after your hard earned money is imperative – whether that is the bank you choose to manage your day to day financial affairs, or the investment specialists tasked with ensuring you are maximising the returns on a...

The Financial Planning Group is delighted to announce an award – the first and only A rating (Superior) by AKG – for the financial strength of the Wrap platform we use. AKG is an independent organisation specialising in the provision of assessment, ratings,...

  One of Teddington's most looked forward to events, the annual Chestnut Sunday Parade, takes place on Sunday 6 May this year. The avenue of chestnut trees in Bushy Park was established during the reign of William and Mary (late 17th century) after Sir...

If you would like more information on any of the topics in this newsletter, or to arrange a financial planning consultation, please fill in your details below, or call us on 0800 731 7614

As we approach to the second anniversary of the additional 3% stamp duty levy that was introduced for Buy To Let (BTL) purchasers, landlords should be reminded that BTL rates are now running at 1% lower than they were in 2016, with many BTL providers also having...

With the tax year end fast approaching on April 5, The Financial Planning Group thought we would highlight certain changes for the forthcoming tax year – timing is often the key ingredient in tax planning, so now is the perfect opportunity to take stock of your...

Landlords should be aware that it will be against the law in England and Wales to grant a new tenancy, to either new or existing tenants you’re your property doesn’t have an Energy Performance Certificate rating of ‘E’ or above. It should also be noted that mortgage...

A recent study by the Financial Conduct Authority (FCA) confirmed there are 1.67 million interest only mortgages in the UK – with home owners relying on continued house-priced rises to repay the loan in the future. However, this would necessitate selling the property...

Higher income earning mums with young children are being warned they could face a hit to the tune of £23,000 to their state pension due to changes to the child benefit rules. The government introduced a ‘high income child benefit tax charge’ in 2013, which affects...

Over the past 12 months we have witnessed a sharp rise in demand for mortgage products which allow parents to give a financial leg up on the property ladder to their children – to many first time buyers the Bank of Mum and Dad offers the only realistic solutions of...

Investment discipline can be difficult. Despite best intentions many investors chase performance and react emotionally to market swings. Trying to adapt to changing market conditions and altering investment holdings is speculating and often leads to increased costs...

Family Mediation Week aims to raise awareness of mediation and how it can help separating families manage their issues collaboratively and productively. Here at The Financial Planning Group we have 25 years experience working in conjunction with solicitors to achieve...

Figures released this week the Equity Release Council show this form of lending reached record numbers in 2017 – more than £3 billion was lent to home owners in this sector, growth of 42% on the previous year.  The final quarter’s lending alone totalled £833 million,...

Insuring Women’s Futures (IWF) is a programme established by the Chartered Insurance Institute (CII), aimed at promoting and enhancing the insurance industry’s role in relation to women and risk. The UK insurance industry alone contributes £29bn to GDP and employs...

  If you’ve had your ears pricked recently by reports regarding amazing returns from investing in Bitcoin or other Crypto currencies, or investigated other buzzword topics such as Blockchain technology, then it can be quite a baffling learning process to even...

The Financial Planning Group are delighted to announce that our main WRAP provider, Standard Life, have qualified for an AdviserAsset Platinum rating for the third year in a row – one of only five UK WRAP providers to receive the highest platform rating. The Platinum...

The first working Monday of the New Year has been dubbed ‘Divorce Day’ by lawyers who witness an annual spike in demand for their family law services – unfortunately the season of good will is far from that for many couples – and the extra financial strain that...

If one of your New Year’s resolutions was to finally get around to start tackling your pension requirements by putting some of your hard earned money away for later in life, then new analysis suggests that an average UK earner requires a pension pot that is over...

  The Financial Planning Group are closed for our Christmas break and will reopen on Thursday 4th January. 

  The Financial Planning Group have donated to two charities close to our hearts this Christmas, instead of sending Christmas cards. Crisis Crisis at Christmas is a unique volunteer effort that provides immediate help for homeless people at a critical time of...

Savvy UK homeowners are taking advantage of a unique economic landscape – in which further interest rate rises are predicted in conjunction with a myriad of near record low fixed term mortgage deals – ensuring they are protected against unexpected hikes in the medium...

  The Chancellor, Philip Hammond, delivered his Autumn Budget to Parliament, in which he outlined sluggish growth for the UK economy over the next four years – according to Office for Budget Responsibility (OBR) figures – with weak productivity named as one...

Over half (55%) of UK consumers do not realise mortgage brokers can offer more product choice than banks or building societies, according to a report published by Legal and General. The report showed that 48% of homeowners and prospective buyers who did not use a...

The news that the Bank of England has raised interest rates for the first time in more than a decade – from 0.25% to 0.5% – may not have come as a total surprise, however, the hike should come as a wake-up call to many home owners who could have been more protected...

  Phoenix, the pensions group which owns Axa, SunLife and Abbey Life, have released some worrying information that says more of its customers have reported approaches from unregulated companies after obtaining personal details about their pensions. Around 10% of...

  Economists have once again offered contrasting views on the short-term chances of a rise in interest rates following this week’s published inflation figures that showed the UK’s Consumer Price Index (CPI) had climbed to 3%, it’s highest level in more than five...

Ever since reforms to the Pension industry rules came into force in 2015, those over the age of 55 have been able to ‘dip in’ to their pension pots – but with those extra freedoms has come the temptation to spend in the short term on ‘living today’ rather than in...

https://www.youtube.com/watch?v=5X-QdPtc4ZQ Sustainable and ethical investment and finance allows you to have a positive impact on the environment and society without sacrificing financial performance. Good Money Week, which runs between October 8-14, raises awareness...

A recent report into pension advice behaviour of those aged between 54 and 71 has found that those who had planned for their pension provision after taking professional advice were, on average, 39% a year better off in retirement than those who had made their...

September’s Nationwide House Price Index report shows that London has become the weakest performing region in the UK for first time since 2005, with house prices down 0.6% year-on-year. However, nationally, annual house price growth stable at 2.0% in September. The...

According to figures released this week, one in five workers aged over 50, which equates to almost 2 million people, will face having to work longer before they consider retirement because of implications caused by their children’s or parents’ financial needs. The...

You may not have thought so judging by the numerous health concern articles that appear in the mainstream press, or by the frequent warnings regarding our weekly alcohol unit intake, but from a tax perspective, alcohol revenues appear to be drying up. According to...

Here’s seven quirky facts that also help focus our minds on the importance of pension planning and investing in our futures. £40,000 The current annual allowance of £40,000 could buy you one night in The Ty Warner Penthouse at the Four Seasons in New York - the...

  Following North Korea’s latest missile launch, and with tensions in the Korean Peninsula escalating, many concerned observers are asking why this potential for international conflict has yet to affect the world’s stock markets. Hydrogen bombs and medium range...

  The Bank of England’s Consumer Price Index cost of living benchmark for August matched May’s five-year high figure, prompting talk of an interest rate hike sooner than previously expected. The Bank’s policy makers meet later this week to discuss whether to...

Reports suggest that thousands of higher-earning parents are unaware of the link between their pension contributions and their family’s child benefit entitlements. If either parent earns over £50,000 per annum then annual payments per child of £1,076 tax free start to...

If you are fortunate enough to be looking forward to unwinding by the pool, or contemplating life whilst sipping a cold drink on the beach this August, then maybe you’ll appreciate the fact that, sometimes in life, you just need to relax and do as little as possible....

The amount of people opting to release equity from their home, rather than downsize or relocate, reached a record high in the second quarter of 2017, with over-55s withdrawing more than £700m from their homes. That is a 36% increase on a year ago and they highest...

The unexpected fall in the latest inflation figures seems to have seen off any imminent threat of an interest rate rise in the UK, however, some Economists see this data as a blip, meaning those looking to grab one of the currently available low rate mortgage or...

They suggest that The Bank of England (BoE) is in an anomalous position… “ The US Federal Reserve and European Central Bank are gearing up for ‘normalisation’ of monetary policy in the absence of inflationary pressure, whilst policymakers at the BoE must decide how...

Research released this week shows that people who receive either independent or restricted financial advice are, on average, £40,000 better off than their unadvised peers. The data, which is supported by Royal London, found those who received financial advice...

  After more than 100 years’ growth in life expectancy levels in the UK, experts have claimed there has been a sharp dip in recent years. Lifestyle choices, as well as an increase in Alzheimer’s diagnosis, are contributory factors it is claimed. The increase rate...

  Lenders expect a slight reduction in mortgage availability over the next three months, the Bank of England said today. This is expected to affect only borrowers with loan to value (LTV) ratios of more than 75%, and in particular those with a LTV ratio of more...

Or download the PDF version here FPGnewsletterJune17 If you would like more information on any of the topics in this newsletter, or to arrange a financial planning consultation, please fill in your details below, or call us on 0800 731 7614...

Barclays have launched some very attractive new residential and buy-to-let mortgages as well as sweetening many of its current deals. These include a new 1.65 per cent two-year fixed rate house purchase loan at 75 per cent LTV, with no fees and a higher value...

For the past eight years, Wealth-X, the leading global wealth information researchers, have collaborated with the Financial Times newspaper to inform readers of the top performers in the UK’s wealth management industry. This year’s results were published in the FT...

According to recent research, ‘The Bank of Mum and Dad’ risk incurring accidental inheritance tax (IHT) bills due to not fully understanding the rules on gifting money to family members and friends. Nervousness and confusion were cited as key factors in not fully...

Remarkably, in an era when so many of us shop around to find the best available deals on our car insurance, utility bills and will spend hours trying to shave a few pounds off holiday flights, would you believe that 58% of people have never remortgaged to a better...

The latest data from the British Bankers Association shows that lenders’ increased scrutiny has slowed down mortgage approvals for the third month running – with remortgage approvals at their lowest level since November 2006. Industry experts feel that banks and...

The phased removal of tax relief for would-be buy to let landlords, plus a stamp duty surcharge on second property ownership, has seen a big fall in demand since April 2016 when the new rules came into effect, as well as a reduction in mortgage approvals from lenders....

According to an insightful article in the Financial Times recently, Saga, Aga and Gaga are the three phases of retirement; “Firstly, the “Saga phase”, when you’re sprightly enough to travel the world, take endless cruises and do the things you’ve always wanted. Next,...

Stay at home parents, who are currently out of employment whilst raising a young family, can still contribute to a pension to the tune of £2,880 per year and receive 20% tax relief – the government will also top this amount up by £720, which makes the maximum...

According to figures released by the Bank of England, mortgage companies have tightened their lending criteria in recent weeks, which has led to a reduction in approval rates and fewer loans being offered. House prices have grown 5.8% in the year to February according...

A report by the BBC highlights why April could be a month of tightening the purse strings in households all over the land, with a list of changes coming into effect throughout the month. A rise in the National Living Wage, an increase in personal allowance income tax...

The much anticipated triggering of Article 50 this week will have far reaching implications for the UK’s economy, however, to know whether the ramifications will be positive or negative, you would need a crystal ball to determine. The impact of exiting the EU on our...

Prime Minister Teresa May has signed the letter of notification to the President of the European Council, which triggered the much-discussed Article 50 and outlines the UK’s intention to withdraw from the European Union. This historic event is a real landmark, but...