Blog
Check out our latest thoughts and insights on a variety of financial topics
Halifax, Santander and NatWest suspend physical valuations
Halifax, Santander and NatWest made the decision to suspend sending their surveyors to value properties that are being considered for the security of a mortgage with them.
This will influence the overall time it takes to complete the house buying process.
Some valuations are being re booked for x3 weeks’ time but event these may be pushed back if the situation has not improved and the Government lockdown is still in force.
However, this gives the banks the opportunity to explore alternative methods of valuing the properties being offered for security for a mortgage by using what is known as Desk Top Valuation or DTV.
6 holiday destinations where your pound will go the furthest
Although Spring is coming, you wouldn’t think it with all this cold and wet weather we are having here in the UK.
No doubt you’re starting to plan your holidays for the year to escape for a week or two. Maybe you’re after a long weekend to soak up some sunshine? Whatever your reason for ‘getting away’, we have put together this blog to help you choose your holiday destinations wisely.
Top First Time Buyer Tips from a Top Independent Mortgage Broker
Over the last 14 years we’ve helped a lot of people purchase their first property and they have always thanked us not only as their independent mortgage broker but for also guiding them through the complex property buying process facing many first time buyers.
To help first time buyers we have asked one of our own mortgage brokers, Kamal Mattu, for some practical guidance on buying your first home.
“As a first-time buyer what do you need to know about the process of buying your first home? For instance, when do you make an offer to buy a property and at what stage do you actually apply for a mortgage. But before you even consider these steps how about these points:
Mortgage and Protection Advice Specialist of the Year Finalist
We are delighted to confirm that one of our Directors, Natasha Palmer, has been shortlisted as a finalist for the Personal Finance Society’s Mortgage and Protection Advice Specialist of the Year 2017.
Later Life Financial Advice in the Care Home
On Thursday 7th September 2017 our later life financial adviser Edwina Hudson was invited to visit Highmarket House, a beautiful new residential and nursing home in Banbury. As the UK’s elderly population continues to grow there is an ever increasing demand for nursing homes just like this.
http://www.careuk.com/care-homes/highmarket-house-banbury
To celebrate the opening of this new home the management invited local professionals to a tour of the home and to take part in a fun wine-tasting competition. All the staff were very friendly and professional and the guests enjoyed the very generous hospitality.
Are You an Employer Needing Help With Auto Enrolment Obligations?
We are starting to see a increasing number of Employers realise the scale and complexity of dealing with the new Auto Enrolment legislation and while you can deal with it yourself the Nine Guides from The Pension Regulator is enough to put off even the most competent of firms.
A Warwickshire First For Simpson Financial Services Financial Advice Team
Congratulations to one of out top advisers, Edwina Hudson, who has today received her full accreditation from the Society of Later Life Advisers (SOLLA). Edwina has a number of years experience as an Independent Financial Adviser and this accreditation recognises her additional skills in the area of financial needs of older people.
We’ve teamed up with BM Savings to offer you a great new savings account
The Telephone Saver (Issue 1) from BM Savings offers an attractive rate of interest, currently, 2.75% gross/AER (variable) for the yearly optionor 2.72% gross/2.75% AER for the monthly option and gives you easy access to your money by telephone 24/7.
The accounts operate as straightforward personal savings accounts with no notice required for withdrawals from your savings. Here are some of the additional features offered;
Non Standard Property Insurers Added
We’re very pleased to announce that Plum, Midas and Prestige have joined our panel of non-standard household insurers.
Non Standard Buildings and contents insurance is for out of the ordinary risks. Typically this will include thatch and other non-standard constructions, adverse claims history, subsidence and underpinned properties, declined, refused or cancelled insurance, convictions, bankruptcy, professional sportspeople or entertainers, Unoccupied properties, holiday homes, even blocks of flats.
Basically, anything which would normally be declined on a standard home insurance policy.
You can send us brief details of your property here or please call the office on 0845 0179 578
A Successful Retirement Planning Seminar
Thanks to everyone who came to our Retirement Planning Seminar on Wednesday. It was great to see so many old and new faces and I think everyone managed to keep awake for the duration of the presentation. Even the part on alternatives to annuity purchase!
For those of you who completed the Investment Risk Questionnaire we will be in touch with you over the rest of this week with your results. Of course, this is only a discussion report but it is a good starting point and a little more scientific than asking if you are you a low, medium or high risk investor.
Do You Know Your Mortgage Capacity?
Getting a divorce can be an extremely stressful time in your life and also a costly one too. And, if you and your “Soon Too Be Ex” are having to sell the marital home you will probably need to prove to each other what your ability to successfully apply for a new mortgage is. You will also need to prove what level of borrowing you are likely to be able to achieve. That’s why Simpson Financial Services offer a comprehensive and personalised Mortgage Capacity Assessment.
Simpson Financial Services and The Money Advice Service Team Up
It takes 5-6 minutes to get your own personal prioritised action plan to help you make the most of your money
Simpson Financial Services and the Money Advice Service are working together to help members of the public with their money matters.
The health check is the latest in a series of tools from the Money Advice Service to help everyone manage their money as effectively as possible
Please click here or above to do your health check
We would particularly recommend you do this if you prior to your next meeting with us or if you haven’t seen us in the last 12 months. We know how useful it is because we’ve used it ourselves.
Financing Divorce in Retirement
Of course, there are a number of ways to finance divorce when you and your spouse are both in retirement but their are some options are not open to you because of your age. However, your age can also work for you and open up other routes to sort out your financial settlement. This week I asked our Later Life Adviser, Edwina Hudson, for an example of where she can help couples seeking divorce to consider their options.
Case Study
Following his divorce, Robin, 71, who lives in Gloucestershire, looked at a number of options in terms of financing the split from his ex-wife. He researched the equity release option and chose to take out a Bridgewater Maximum Release Plan.
Robin’s reversion plan completed in January 2008 and he immediately used the money he released to pay off his ex-wife’s share of the property as part of their divorce settlement.
Lower Pension Charges For Scheme Leavers
The four main factors in building up a good pension fund are quite simply:
- How much money is being invested (monthly, annual, one off, transfers etc).
- What level of investment performance is earned.
- How much your pension provider charges you.
- How long you invest for.
Many members of company pension schemes called Group Personal Pensions or Group Stakeholder Pension Schemes are often delighted with the low annual management charge that they pay. As long as you remain in the same employment you will continue to benefit from low pension scheme charges ranging from 0.3% per annum to 1% per annum. What many don’t realise is that when you leave employment and, by default, leave the company pension scheme your annual pension fund charges can shoot up!
