Preparing emotionally for retirement

Posted by Rebecca Harbrow on Monday 14th December 2020

You’ve retired from work, you’ve waved a cheerful goodbye to your colleagues and you’re ready for the rest and relaxation you so rightly deserve. It’s exciting! For a couple of weeks. Then the doubt sets in.

What will you do with your life, you might find yourself asking? How will you fill the long daytime hours? How will you manage without the comfort of your routine? Where will you find your purpose, if not from work?

Planning – it’s not just financial
Whenever we talk about retirement, it’s all about the pension. If you have enough in ...


Cohabiting couples should make a Will

Posted by Rebecca Harbrow on Wednesday 2nd December 2020

When Tom and Pete bought their first property together, things couldn’t have been going better. They both had good jobs, were pulling in decent salaries and were excited about spending the rest of their lives together.

They chatted about making a Will a few times, but somehow life always got in the way. Until one day, 10 years later, Pete got a call that would change his life forever. Knocked down by a car while crossing the road, Tom had tragically passed away.

The intestacy trap
Grieving for the loss of his partner, Pete then found out ...


Mortgage Payment Update November 2020

Posted by Rebecca Harbrow on Tuesday 17th November 2020

 

On 17 November the FCA confirmed guidance for homeowners struggling financially due to coronavirus. The mortgage payment holidays scheme, first announced in March and then extended in May, has been further extended until 31 March 2021.

How does it work?

  • Those who have not yet had a payment holiday will be eligible for payment holidays of 6 months in total.
  • Those who currently have a payment holiday will be eligible to top up to 6 months in total. 
  • Those who have previously had payment deferrals of less than 6 months will be ab...

It’s time to think about life insurance

Posted by Rebecca Harbrow on Thursday 12th November 2020

It’s time to think about life insurance

If you have dependents – people who rely on you financially – then you should have life insurance. In fact, if you have dependents and don’t have life insurance, you are exposing them to grave financial risk. And who would want to do that?

Life insurance tends not to feature on ‘to do’ lists because it makes us confront uncomfortable questions, such as what would happen to our loved ones if we were to die unexpectedly in the next few years.

However, we all carry a deep responsibility to ensure...


Protecting your business in difficult times

Posted by Rebecca Harbrow on Wednesday 4th November 2020

Protecting your business in difficult times

During the past few months, millions of businesses have been forced to shut temporarily, with employees furloughed or working from home under very difficult circumstances.

With various business sectors reopening in July, many have suffered significant financial damage due to lockdown. For some businesses, productivity has been lost due to illness and self-isolation, while others have lost key personnel or shareholders, leaving a question mark hanging over their future.

Don’t leave your bus...


Update on mortgage payment holidays

Posted by Rebecca Harbrow on Friday 23rd October 2020

Update on mortgage payment holidays

On 17 March 2020, as the country teetered on the brink of lockdown, the Chancellor announced that homeowners struggling financially due to coronavirus would be able to take a three-month mortgage payment holiday.

What does this mean for me?
The extended application deadline now coincides with the end of the furlough scheme. This means, if your workplace makes you redundant as the furlough deadline approaches, you will still be able to apply for a mortgage holiday, giving you some breathing room whil...


The world is changing – so should your insurance

Posted by Rebecca Harbrow on Wednesday 7th October 2020

The world is changing – so should your insurance

The world is changing rapidly in a way that nobody could ever have expected, meaning your personal and financial circumstances are likely to have changed. It is important to regularly review all aspects of your finances and that includes reviewing your protection insurance, to make sure your policy provides adequate cover for your changing needs.

Underinsured
If you don’t regularly review and update your policy, any pay-out you do receive from your claim may not be enough to cover you a...


COVID-19 affects retirement plans for over three million

Posted by Rebecca Harbrow on Thursday 24th September 2020

COVID-19 affects retirement plans for over three million

Recent research shows 1 in 10 UK adults with a pension (and not yet retired) have reduced or stopped pension contributions because of Covid-19.

  • 1 in 10 UK adults have reduced or stopped pension contributions
  • 1 in 4 workers are worried about paying for every day essentials
  • 1 in 5 workers are worried about keeping up with mortgage or rent payments

The economic fallout resulted in a drop in income for many people meaning them having to decide between their short-term financ...


Protecting You and Your Family

Posted by Rebecca Harbrow on Friday 14th August 2020

Protecting You and Your Family

Losing your partner at any stage in life can be devastating, but it may be particularly devastating when children are involved because of the financial pressures of raising a family. Ensuring your children and other dependants are provided for in case you die should be a top priority but less than a third of people in the UK have life insurance.

Keep it simple
Many products are available but a simple level-term policy, where a pre-decided lump sum is paid out should you die within a stated period, is among th...


Life insurance in trust

Posted by Rebecca Harbrow on Monday 27th July 2020

Life insurance in trust

A life insurance policy in trust is a legal arrangement that keeps a life insurance pay out separate from the valuation of your estate (property, money and possessions) after you die. Here we take a look at some main points to consider when deciding whether to write your life insurance in trust.

The logistics
A trust is a legal entity that allows you to put aside assets for your chosen beneficiary or beneficiaries. A solicitor or insurance provider can arrange to place your policy in trust. You can nominate...