First of all, for many people entering retirement with a reduced income, budgeting to pay for existing mortgage and credit card debts can be hugely stressful. Often people will continue working longer than they planned or consider drastic and unnecessary changes to their lifestyle by selling up and moving to a cheaper property. Figures [...]
A survey undertaken by Saga Home Insurance into retirement planning found that many United Kingdom residents, who had recently retired, were planning major home improvements. It’s only natural that you would want to make home improvements now that you will be spending more time in your home during your retirement. How long are you planning [...]
The demand for places for long term care is increasing due to us all living longer. However, funding to cover the care home, which is mainly paid for by Local Authorities is under pressure. Many Local Authorities resources are limited. This is leading to them demanding places at below their cost price. Care homes are [...]
More and more people over the age of fifty-five, are using their home as a cash machine as interest rates continue to fall on Equity Release plans. The rates have tumbled from around 8% four years ago, to fixed rates below 3% today. How can you turn your home into a cash machine? According [...]
Recent figures show that nearly a quarter of a million people have moved their final-salary pension fund. The industry name for this type of fund is defined-benefits (DB). Many experts are warning that the trend is a time bomb because people risk poverty in later life. So far over £50 billion has been removed from financial [...]
New Birmingham Office opened. Our new office is located at 2, Snow Hill, Birmingham B4 6GA. The office is situated in the heart of Birmingham’s business district and is part of the Colmore Business District. Tracey Foster, an independent financial adviser (IFA), is heading up the team at this new office. She has work in [...]
Advances in medical science have seen life expectancy increase. Over two-thirds of the United Kingdom population, are now aged over fifty. That’s over 21 million people. Also for the first time in history, two-thirds of this number are aged over sixty. That’s fourteen million people. Half a million people are over ninety years old and [...]
Homeowners who have relied on interest-only mortgages are increasingly being forced to sell up before their repayment term is reached. The number of people having to sell their home and downsize is increasing. Estate agents are reporting that forty-three per cent of customers are forced to sell their home to pay off interest-only mortgages. Mortgage debt issues [...]
The popularity of equity release continues to grow. Figures from the Equity Release Council, of which Anstee & Co are members, estimate that there is a total of £7 million being released on a daily basis. In comparison to the same time last year, this represents a 53 per cent growth. The figures show a [...]
The Bank of Mum and Dad keep growing to become a £6.5bn UK Mortgage Lender on a par with the 9th largest UK lender. It continues to grow in importance in helping young people take their early steps onto the housing ladder. It will be involved in more than a quarter of all property transactions [...]
