Claims paid out under protection insurance totalled £6.8bn in 20211, a second consecutive yearly high, with more than £18.6m paid out every day in life insurance, income protection and critical illness claims. Last year was the third year in a row where the overall average individual payout increased, rising by 9% year-on-year to reach £14,994. […]
Author archives: matthew
An ‘epidemic of fraud’ impacting young and old
The latest annual fraud report published by UK Finance stresses the need for an urgent response to ‘the epidemic of fraud’ that the UK is currently facing. The report reveals that £1.3bn was stolen by criminals through authorised and unauthorised fraud in 2021. In total, 56% of UK adults1 have received a suspicious communication or […]
Cost of living drives equity release increase
In recent years, equity release has become an increasingly popular way for older homeowners to unlock cash tied up in their properties. Equity release products enable homeowners over the age of 55 to access equity locked up in their homes while still being able to live in their property. New research suggests that many homeowners […]
Property pitfalls for holidaymakers
Do you always lock your windows before going on holiday? If not, you’re not alone. A new survey1 has revealed some of the bad holiday habits of UK homeowners. Locked out Two in five respondents don’t check their windows are locked, with a similar number failing to check the doors. Just under half make sure […]
Pensions round-up
Recently released research1 suggests UK consumers are becoming more knowledgeable about pensions and prepared to take a greater role in preparing for retirement. Other research2, however, shows significant sums are still sat in ‘lost’ pensions, while experts have warned about potential pension-related problems as the cost-of-living crisis bites. Pensions knowledge improving A survey conducted by […]
Autumn Statement 2022
“We will face into the storm” On 17 November, Chancellor of the Exchequer Jeremy Hunt delivered his fiscal plan to “tackle the cost-of-living crisis and rebuild our economy” stating that the government’s three priorities are “stability, growth and public services.” The Chancellor struck a defiant tone during the key fiscal event, saying he was “taking […]
Mortgage market review
It’s been a busy couple of months in the mortgage market, with rising interest rates and new product ideas dominating the discussion. Rate rises Following the Bank of England’s decision to raise interest rates, two million mortgage holders with standard variable rates or tracker mortgages are already facing higher repayments. Bank Rate increases will also […]
Good to know – IHT share loss relief
In challenging market conditions, it’s likely that some bereft individuals will inherit investments that have fallen in value. Through IHT share loss relief, people inheriting can be entitled to claim a tax rebate when they sell certain qualifying investments at a loss. Strict rules, criteria and exemptions apply however. For example, to be eligible for […]
A move towards ‘living legacies’
Over-55s are increasingly looking to help their families out financially while they are still alive, rather than leaving everything in the form of an inheritance. Research1 has revealed a trend towards ‘living legacies’, due to increased life expectancy pushing up the average age at which younger generations inherit from their parents. People born in the […]
Small steps to sell with success
Planning to sell? You already know there’s a lot of big things to think about. But don’t neglect the small details either. Seemingly minor changes can make a significant difference to how a property is perceived and, ultimately, its sale price. Here are three top tips for putting the finishing touches to your home before […]