Blog
Check out our latest thoughts and insights on a variety of financial topics
Start 2021 with New Year Financial Planning
With 2020 having been so unstable and challenging, making resolutions for 2021 might seem a little over optimistic. But if you have managed to get through the year of the Pandemic unscathed and are already deciding how you can improve in 2021 in other ways, then perhaps New Year financial planning might not be such a bad thing to add into the equation.
Here are a few of suggestions which might mean you can end 2021 in a better financial position than you are starting:
How to Avoid Getting into Debt this Christmas
We all know that 2020 has been a year of constant change and uncertainty. But the year is nearly over. And one thing we all want to do is enjoy ourselves this Christmas time! But we all also need to consider how to avoid getting into debt this Christmas.
It is possible that it is going to be more of a financial struggle than usual for some this year. With furloughs, job losses, reduced hours and added pressure all around, we are, sadly, likely to see more people getting into debt and struggling to recover in 2021.
Buying Your First Home
- Buying your first home is an exciting and a huge step. It is also one of the most important things you will ever do.
You may be in a position where you have been saving every penny possible; know exactly how much you can afford; and have even seen the property you would love to make your home.
If so, congratulations! You are ready to take the leap onto the property ladder and apply for your first mortgage.
But, if you are one of many thousands who seem to be spending all of your wages on rent, utilities, food and household bills, without having any spare savings, buying your first home may feel completely out of the equation.
There are several ways you can start to plan efficiently, and we may be able to help you.
Are you planning on playing retirement roulette with your pension?
With more retirement options than ever before, we explore the key differences between annuities and drawdown products while helping you choose the winning option for you.
Whether you’re flirting with retirement or are a fresh whippersnapper with the whole world at your feet, weighing up your pension options in advance is a smart move.
Two of the best ways to make your hard-earned retirement savings go further is to purchase an annuity or a flexi-access drawdown. The question is: which one is right for you?
In this blog, we explore the differences between the two products and offer valuable tips to ensure you don’t gamble away your pension pot.
Retire in style: 8 tips for a stress-free retirement
Simple money-saving tips to ensure you enjoy a stress-free retirement and can experience the finer things during your later years.
Retiring stress-free sounds like a pipedream to most, especially in this current economic climate. The thought of pouring your hard-earned cash into a retirement fund for an old crinkly version of yourself, instead of living lavishly while you’re young is hard to justify.
However, retirement savings don’t have to be a drab affair and a killer to your social life. The key to success is thinking smarter and making your money stretch further.
So, if you want to enjoy a great lifestyle now and still be able to swan around Waitrose in your golden years, we suggest you put a few of these retirement saving tips into practice.
Ongoing financial help from the Government, supporting Business Owners through Covid-19
Coronavirus has caused disruption to all industries across the UK and non must be suffering more sleepless nights than business owners, large or small. However, the government has launched a range of temporary measures to help ease your concerns and support your business throughout this uncertain time. Ensuring you are getting the right financial support and taking full advantage of any funding or assistance on offer could really help businesses get through this unprecedented time.
What is the stamp duty holiday and how can you capitalise on it?
With Chancellor Rishi Sunak announcing a stamp duty holiday to rebuild the economy, we explore the impact it’ll have on those looking to take their first or next step on the property ladder.
It’s fair to say the past few months haven’t exactly been a great time to search for your next home sweet home.
However, Rishi Sunak’s announcement regarding a stamp duty holiday last week should be enough to start planning your next move and schedule in your next Ikea trip. Here’s why…
What is the stamp duty holiday?
The new stamp duty holiday measures mean that homebuyers will pay no stamp duty on property purchases of up to £500,000 until March 2021.
Lenders return to 90% lending
Welcome to your latest update in what is a fast moving fast changing mortgage market.
Let’s take a breath first and remember what happened about 10 weeks ago.
HM Government pulled the shutters down on UK PLC which effectively closed the country and confined us to our homes in an effort to slow down the spread of the Coronavirus.
Lenders responded by pulling up the lending drawbridge and many stopped lending all together, with some still not back in the lending arena as of last week.
6 steps to successful budgeting!
As it’s National Conversation Week #NATCONVWEEK - today we want to share with you a personal budget action plan…
Step 1 - grab your bank statements for the last month
Step 2 - write down all your regular bills (date, who to, how much, what is it and what do you get)
Step 3 - shop around and see if you can reduce the cost or improve of each individual item or improve the “what you get” for the same money (Key areas to target are utilities, phone/broadband bills, insurance (buildings/contents/life), TV packages.)
If you spend 10 hours on this and can save yourself £10 per month, that will equate to saving you £1200 over the next ten years OR much more if you divert the saving methods to overpaying on your mortgage! We are talking THOUSANDS of pounds of savings year on year!
Your Help to Buy Equity Loan is up and running – what happens after 5 years?
The following is based on our current understanding of ‘Help to Buy’ criteria which may change prior to publication of this article on 21.04.2020
Hands up those of you who remember when HM Government showed up with a much-needed shot in the arm for the housing market then?
Help to Buy Equity Loans from HM Government had arrived in 2013 and this enabled house buyers with modest deposits to get financial assistance when looking at buying a property. For the purpose of speed (and to make it easier for me) I am shortening the name of these loans to HTB throughout this blog.
7 ways to help your children understand the value of money!
As it’s ‘National teach your children how to save day’ 2020 – it makes sense that we share with you some tips of things you can do…
What is your solicitor doing about your property purchase?
Like everything, the process of conveyancing (which is the process of legally sorting out the purchase of a property for you) has been affected.
The Conveyancing Association (CA) have advised where possible for electronic contracts to be used to reduce the spread of the Coronavirus. They have also warned their members to prepare for sales not going through because of obvious reasons.
Below are some points that will keep you well informed and hopefully help you in your discussions with your solicitor/ conveyancer:
You wouldn’t jump out of a plane without a parachute…
Written by Malcolm Clarke
Well let's first start by saying here at Simpson FS we don’t sell parachutes, but in a way we do.
Let me explain.
I personally use this analogy when explaining protection insurance to my clients.
8 reasons why you should set up a Trustee Bank Account
Whether you’ve been considering setting up a Trustee Bank Account for a while, or it’s completely new to you, we’ve put together 8 reasons why you should set one up.
Hopefully this will help you understand the benefits of setting one up.
