Enable Independent, IFA’s in Bishops Stortford noted that the think tank ASI called for government to scrap its Help to Buy scheme. The Help to Buy scheme was introduced by the government this year, and offers a 15% LTV deposit for those people wanting to buy a new home, with the borrower having to put down a deposit of between 5-15%. It is part of the government’s plans to stimulate growth within the UK. But some UK economists, think tanks and charities are against the plans.
Investors from around the globe have predicted the impact on the property market, and have come from far and wide to buy their own piece of ‘Pied-a-terre’ in the heart of our capital. Asian investors alone are expected to invest billions in European property of the next five years, as they see it as being a long-term sustainable investment option.
The argument against the scheme is the fact that it will create another housing ‘bubble’, the ASI would like the government to come up with other ideas such as releasing farm land for development and scrapping mandatory affordable housing quotas. They say that the plans currently in place to not offer a long-term solution to the housing crises in the UK.
Charities such as Shelter, a charity set up to help the homeless, have stated that this new scheme will simply inflate prices making it even harder for people to get onto the property ladder in the future.
The government really does need to think about taking responsibility for the long-term growth of our economy, that will not only benefit those people able to invest in property in the UK at this present time, but also enable our younger generation to become property owners.
The strange factor behind this scheme, is that stamp duty thresholds are not expected to be reviewed, which will also have a negative impact on first-time buyers being able to afford their first home, as house prices in the UK increase and more and more people will find themselves being forced to pay out large sums of money in stamp duty, so does the government need to think other aspects of the house buying process?
If you would like help in planning to buy your first property, then why not get in touch with our team of Independent financial advisors.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable
Independent Financial Life Planners is a trading style of Enable
Independent Limited is authorised and regulated by the Financial Conduct
Authority.
It is important always to seek independent financial
advice before making any decision regarding your finances. If you would
like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Friday, 30 August 2013
Competition between mortgage lenders picks up
Enable Independent, Independent Financial Advisors in Bishop’s Stortford have seen the impact that the “Help to Buy’ scheme has had on the property industry, with an increase in home prices stretching across England and Wales according to the Land Registry report. Greater price activity continues to be experienced in London, with some property experts predicting that prices will have doubled in our capital by 2020.
Which has directly resulted in the competition between mortgage lenders increasing in the UK. Mortgage market share in 2012:
Lloyds Banking Group: 18.3%
Nationwide: 14.8%
Barclays: 12.7%
HSBC: 11.5%
Santander: 10.2%
RBS: 9.7%
Coventry Building Society: 3.6%
Virgin Money: 3.4%
Yorkshire Building Society: 3.2%
Clydesdale: 2.2%
Source: Council of Mortgage Lenders
Since the global crises a number of mortgage lenders have merged, and they have been responsible for the main amount mortgage lending to date, but since then some of the smaller lenders have become more forceful.
The CML stated: "Competition in the market is growing, bringing with it benefits to consumers shopping around for the mortgage deal to best suit their needs."
Lloyds banking group is still the largest lender with a 18.3% market share, Nationwide is now second in line with 14.8% of gross lending in 2012, Barclays was third last year, HSBC fourth, Santander fifth.
If you would like help and advice when buying a home then why not contact our team of IFAs we are Independent Financial Advisors which means that we are not tied down to one mortgage lender, so we can help you to find the best deal to suit you from across the entire mortgage place.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Which has directly resulted in the competition between mortgage lenders increasing in the UK. Mortgage market share in 2012:
Lloyds Banking Group: 18.3%
Nationwide: 14.8%
Barclays: 12.7%
HSBC: 11.5%
Santander: 10.2%
RBS: 9.7%
Coventry Building Society: 3.6%
Virgin Money: 3.4%
Yorkshire Building Society: 3.2%
Clydesdale: 2.2%
Source: Council of Mortgage Lenders
Since the global crises a number of mortgage lenders have merged, and they have been responsible for the main amount mortgage lending to date, but since then some of the smaller lenders have become more forceful.
The CML stated: "Competition in the market is growing, bringing with it benefits to consumers shopping around for the mortgage deal to best suit their needs."
Lloyds banking group is still the largest lender with a 18.3% market share, Nationwide is now second in line with 14.8% of gross lending in 2012, Barclays was third last year, HSBC fourth, Santander fifth.
If you would like help and advice when buying a home then why not contact our team of IFAs we are Independent Financial Advisors which means that we are not tied down to one mortgage lender, so we can help you to find the best deal to suit you from across the entire mortgage place.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Firefighters poised to strike over pension age row…
Enable Independent, IFAs in Bishop’s Stortford followed the story this week of the Firefighters taking industrial action because of the government’s pension reforms. The government states that the current pension arrangements need to be reduced as they are no longer affordable.
Members of the Fire Brigades Union have voted to take industrial action over these proposals, which could result in the first national firefighters strike for over 10 years.
The new outlined plans by government would see the pension age rising from 50 to 60, however the FBU members have stated that this is too old, and that it would endanger the public.
FBU general secretary Matt Wrack said: "Expecting large numbers of 60-year-olds to fight fires and rescue families is dangerous to the public and to firefighters.
"The government is simply ignoring the evidence about the physical demands of firefighting and has been unable to answer our concerns during two years of negotiations.
"None of us want a strike, but we cannot compromise on public and firefighter safety. We hope common sense prevails, and the government returns to the negotiating table."
The Government stated that despite these proposed changes to firefighters pensions, that they will still get one of the best public sector pensions.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Members of the Fire Brigades Union have voted to take industrial action over these proposals, which could result in the first national firefighters strike for over 10 years.
The new outlined plans by government would see the pension age rising from 50 to 60, however the FBU members have stated that this is too old, and that it would endanger the public.
FBU general secretary Matt Wrack said: "Expecting large numbers of 60-year-olds to fight fires and rescue families is dangerous to the public and to firefighters.
"The government is simply ignoring the evidence about the physical demands of firefighting and has been unable to answer our concerns during two years of negotiations.
"None of us want a strike, but we cannot compromise on public and firefighter safety. We hope common sense prevails, and the government returns to the negotiating table."
The Government stated that despite these proposed changes to firefighters pensions, that they will still get one of the best public sector pensions.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Thursday, 22 August 2013
So what happens if I die and I have an income drawdown?
An income drawdown gives much more flexibility than an annuity, however the money you will receive from this type of pension will be much more unreliable. It is a much higher risk alternative, which would not be suitable for everyone. If your investment performs badly or you take out too much from your income you could potentially deplete the fund.
If you are unsure about this type of pension option then we would advice that you seek advice from an IFA.
• If you pass away your spouse or dependent can buy a lifetime annuity (providing a taxable income) with the remaining pension fund. If the full amount is used there is no lump sum tax charge when the pension pot is passed on.
• Your spouse or dependent can take a taxable income using income drawdown from your pension pot.
• Your spouse or dependent can to into flexible drawdown with the inherited pension pot, if they meet eligibility requirements. Any money drawn from this pot is subject to tax at their personal income rate.
If you would like to find out more about tax relief and tax shelters then you would be best advised to contact an IFA, as they will be able to give you the most up-to-date advice on how to manage your income drawdown, as these are very complicated and depend on how much you have drawn down, your age and personal income.
Next week we will look at some other alternatives to relying on a conventional pension.
What is an annuity?
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
If you are unsure about this type of pension option then we would advice that you seek advice from an IFA.
• If you pass away your spouse or dependent can buy a lifetime annuity (providing a taxable income) with the remaining pension fund. If the full amount is used there is no lump sum tax charge when the pension pot is passed on.
• Your spouse or dependent can take a taxable income using income drawdown from your pension pot.
• Your spouse or dependent can to into flexible drawdown with the inherited pension pot, if they meet eligibility requirements. Any money drawn from this pot is subject to tax at their personal income rate.
If you would like to find out more about tax relief and tax shelters then you would be best advised to contact an IFA, as they will be able to give you the most up-to-date advice on how to manage your income drawdown, as these are very complicated and depend on how much you have drawn down, your age and personal income.
Next week we will look at some other alternatives to relying on a conventional pension.
What is an annuity?
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
What happens to my pension when I die if I have an annuity?
This is a question we are often asked at Enable Independent, knowing the facts early on will enable you to make the best decisions regarding your personal pension.
How your pension is dealt with depends on how you use it when you reach retirement, whether you need a secure income, an annuity, or if you prefer a more flexible, more unreliable income, known as an income drawdown.
So what is an annuity?
An annuity is a secure, regular taxable income purchased from and insurance company in exchange for your pension fund. The annuity will be paid for the rest of your life, providing you and your family with security. However annuities are fixed, and they cannot be changed or altered once they have been put into place, to it is imperative to really understand what you will be getting, and to make sure you choose and IFA not a bank who will be able to offer you the best type of annuity available.
When you set up your annuity you will be able to choose if you wish for any of your pension to be paid after your death. If you choose a joint life annuity you will be able to choose how much income they will need after you die. You can select a guarantee period of up to 10 years, and this will be paid to your partner or spouse even if you die early.
If you add your spouse or partner to your annuity, you can do so for free, with it costing an average of 9.1% more to provide a spouse’s pension annuity paying 50% of your income this would make financial sense. However with all types of insurance policies you must always declare health problems or existing medical conditions before entering into any policy.
If you need any further information regarding this article then please do not hesitate to get in touch with our team of IFAs.
What is a income drawdown?
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
How your pension is dealt with depends on how you use it when you reach retirement, whether you need a secure income, an annuity, or if you prefer a more flexible, more unreliable income, known as an income drawdown.
So what is an annuity?
An annuity is a secure, regular taxable income purchased from and insurance company in exchange for your pension fund. The annuity will be paid for the rest of your life, providing you and your family with security. However annuities are fixed, and they cannot be changed or altered once they have been put into place, to it is imperative to really understand what you will be getting, and to make sure you choose and IFA not a bank who will be able to offer you the best type of annuity available.
When you set up your annuity you will be able to choose if you wish for any of your pension to be paid after your death. If you choose a joint life annuity you will be able to choose how much income they will need after you die. You can select a guarantee period of up to 10 years, and this will be paid to your partner or spouse even if you die early.
If you add your spouse or partner to your annuity, you can do so for free, with it costing an average of 9.1% more to provide a spouse’s pension annuity paying 50% of your income this would make financial sense. However with all types of insurance policies you must always declare health problems or existing medical conditions before entering into any policy.
If you need any further information regarding this article then please do not hesitate to get in touch with our team of IFAs.
What is a income drawdown?
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Should I pay off my mortgage early?
At Enable Independent, IFAs in Bishop's Stortford this is one of the most common questions we are asked by customers. The answer to this is complicated and in most cases we would suggest that our customers come and have a chat with Richard our Independent Mortgage Advisor.
One of the main arguments against paying off a mortgage is the fact that mortgage rates are so historically low, that would it benefit you and your family by paying it off early? However others would say that it would be best to pay off a mortgage in these uncertain economic times.
So in order to work out whether you need to pay off your mortgage early, you probably need to think about these questions:
Do you have any other debts such as store cards, car loans or credit card debts that need to be paid?
These normally charge a much higher rate of interest, so it might be worth paying these back first.
Would your family be able to cope financially if you died?
If you have dependants they the cost of putting in place a life assurance is relatively low, so if you haven’t got one already then you will need to make sure you have one in place. Making sure you can comfortably afford these payments is a necessity.
Can you get a better savings rate than your mortgage rate interest?
If you already have a pension then it might be worth paying extra money into a high rate savings scheme such as an ISA, which will give you higher returns on your money than probably the interest on your mortgage.
Will I get penalised by my mortgage company for paying it back early?
You will need to check with your mortgage company, most allow you to pay back 10% per year without being penalised.
If you pay back your mortgage will you have at least 3 months money left in reserve?
It is always best to think about whether you will be able to afford to live for a few months once you have paid back a mortgage.
Is it worth overpaying your mortgage?
By overpaying your mortgage it might not only mean that you have less to pay back in the future, it might also mean that you will be able to pay it back sooner.
If you would like some help and advice on your personal situation then why not give our team of Independent financial advisor a call and we will be able to access your financial situation.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
One of the main arguments against paying off a mortgage is the fact that mortgage rates are so historically low, that would it benefit you and your family by paying it off early? However others would say that it would be best to pay off a mortgage in these uncertain economic times.
So in order to work out whether you need to pay off your mortgage early, you probably need to think about these questions:
Do you have any other debts such as store cards, car loans or credit card debts that need to be paid?
These normally charge a much higher rate of interest, so it might be worth paying these back first.
Would your family be able to cope financially if you died?
If you have dependants they the cost of putting in place a life assurance is relatively low, so if you haven’t got one already then you will need to make sure you have one in place. Making sure you can comfortably afford these payments is a necessity.
Can you get a better savings rate than your mortgage rate interest?
If you already have a pension then it might be worth paying extra money into a high rate savings scheme such as an ISA, which will give you higher returns on your money than probably the interest on your mortgage.
Will I get penalised by my mortgage company for paying it back early?
You will need to check with your mortgage company, most allow you to pay back 10% per year without being penalised.
If you pay back your mortgage will you have at least 3 months money left in reserve?
It is always best to think about whether you will be able to afford to live for a few months once you have paid back a mortgage.
Is it worth overpaying your mortgage?
By overpaying your mortgage it might not only mean that you have less to pay back in the future, it might also mean that you will be able to pay it back sooner.
If you would like some help and advice on your personal situation then why not give our team of Independent financial advisor a call and we will be able to access your financial situation.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Monday, 12 August 2013
Positive jobs data...
In figures released in mid-July from the Office for National
Statistics (ONS), comparing March-May 2013 with the previous three months, there
were more people in employment and fewer unemployed people in the UK.
Employment was up by 16,000 to 29.71 million. This resulted in
an increase in the number of people employed by 336,000 on the year. In
percentage terms, 71.4% of those aged between 16-64 were in work.
Unemployment also fell by 57,000 for the quarter and by 72,000
on the year. This brought the overall figure to 2.51 million people, or 7.8%.
The number of people who have been unemployed for up to twelve months also fell
by 104,000, amounting to 1.59 million. However, the number of people who have
been out of work for over twelve months increased by 32,000 to 915,000. This is
the highest figure since 1996. Of this number 474,000 have been looking for
work for over two years, itself the highest figure since
1997.
More encouragingly, the number of people who are claiming Jobseeker’s
Allowance (JSA) fell by 21,200 to 1.48 million. Over the year this was down by
117,700. This is the lowest number recorded since 2011. The discrepancy in
these numbers is because the claimant count only covers those receiving JSA, whilst many unemployed people are either ineligible for or
do not claim the JSA.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Bank of England holds back on further QE...
The new Governor Mark Carney’s inaugural meeting as the Chairman of the Bank of England’s (BoE) Monetary Policy Committee (MPC) saw them vote 9-0 to keep their current quantitative easing (QE) programme at its existing level.
However, the minutes of the July meeting also revealed that
two members of the committee, Paul Fisher and David Miles, had voted in favour
of expanding QE in the previous June meeting, stating that such increased stimulus
was “warranted”.
It should also be noted that those two members, together with
the previous Governor, Sir Mervyn King, had recommended an additional £25bn of
QE over the last few months; whereas Mark Carney’s view is that the MPC should adopt
a more holistic approach to the policy tools available to them. His main driver
is to boost confidence and through that, growth in the economy. To help achieve
that he hopes to keep interest rates low and so encourage consumers to borrow
more to boost the demand side.
With the current QE programme having already purchased £375bn
of assets, primarily UK Government Gilts, the statement that QE will be
curtailed, albeit temporarily, boosted the pound on the foreign exchange
markets. With the prospect of monetary easing being less likely, sterling rose
against the dollar to $1.5247, although it did dip a little later. This
stronger sentiment for sterling was further boosted by the UK unemployment
figure for the three months to May, showing that it fell by 57,000 to sit at
2.51 million or 7.8% of the labour force.
The MPC noted that whilst growth was “weak” there were signs
that the economy was improving. Future growth will be dependent on consumer
confidence. To emphasise this opinion they added: “Growth in the second half of
the year would depend in large on the behaviour of the household sector.”
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Chancellor Osborne confirms economy is “on the mend”...
Good news on the UK economic front from the Office for
National Statistics (ONS) who reported their first Q2 estimate on the UK
economy. Based on a seasonally adjusted sample of 44% of actual data, they estimated
growth of 0.6% in the second quarter of 2013. This was an improvement on the
0.3% growth reported in Q1.
The ONS said that output grew in the Services sector – by far
the largest component of the economy, representing 80% of total output - by
0.6%. The Production sector also saw 0.6% growth, of which
Manufacturing accounted for 0.4%, whilst Construction saw a strong rebound in
activity with 0.9% growth. The Agriculture sector also saw positive growth. So
a broad-based recovery was reported.
As a result of this data, the UK economy has now recouped more
than half the loss of 7.2% output seen since the economic crisis of 2008-9.
However, economic output still remains 3.3% below its pre-recession peak.
Welcoming the good news, the Chancellor of the Exchequer,
George Osborne, said: “These figures are better than expected. Britain is
holding its nerve, we are
sticking to our plan, and the British economy is on the mend
– but there is still a long way to go and I know things are still tough for
families.”
This encouraging economic trend comes after the Prime
Minister, David Cameron, announced earlier this month that the London 2012
Olympics and Paralympic Games boosted the UK economy to the tune of £9.9bn.
Following a report from the UK Trade and Investment Department (UKTI) stating
that the Olympics resulted in “additional inward investment” of
£2.5bn, 58% of which was outside London, £5.9bn of additional sales as a result
of Olympic related promotions by the Foreign Office and UKTI and £1.5bn of
high-value overseas contracts.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Mortgages for first-time buyers at 5-year high...
The Council of Mortgage Lenders (CML) has reported that loans offered to first time buyers reached a five and-a-half
year high in May this year. This represents a 42% increase from the same month
last year.
With 25,000 people taking out these loans, this is the
highest number of first-time borrowers since December 2007. Paul Smee, the
Director General of the CML, was quoted as saying: “Both the borrowing appetite
of first-time buyers, and the availability of attractive mortgages for them, have improved
markedly since a year ago.”
Whilst these are encouraging figures, the overall level of activity
in the housing market remains at only half the level it was prior to the recent
economic crisis. Another caveat to this data was the fact that May 2012 had a
very low uptake of mortgages, as a result of the changes in stamp duty
thresholds made in March 2012, prompting many buyers to bring forward their
house purchases to take advantage of the lower tax levels at that time.
The Government’s two initiatives, ‘Funding for Lending Scheme’
(FLS), which was launched in August 2012 and ‘Help to Buy’ (HTB), launched in
April 2013, have been credited with helping to make funds more available for potential
home buyers.
FLS has made additional funds from the Bank of England available
to building societies and banks at cheaper rates, on the proviso that they in
turn make these funds available to businesses and individuals.
Meanwhile, HTB has specifically helped first-time buyers, as
the Government offers those buyers a 20% equity loan, provided they can raise a
5% deposit.
Not only first-time buyers benefited, however, as the number
of people re-mortgaging also increased by 18.7% compared with the same time
last year.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Wednesday, 7 August 2013
Have you ever thought about rescuing a house?
According to the Empty Home stats in 2012 there were 920,000 empty houses in the UK. So how do you go about finding an empty property? Firstly you will need to keep your eyes peeled, and bear in mind that about 1 in 20 homes in the country are empty.
Estate Agents – they probably won’t have empty houses featured in their windows, so pop in and ask if they have any available to look at.
Local Council – They will have a list of all the empty properties in their areas. Some councils divulge this information freely whereas others might not. If they refuse put a request in writing, as you have a legal right to request this information.
On-line auctions – check out auction catalogues this is a great place to start, as they often have empty homes on their books.
Land-for-sale – quite often this can have a house on it that they propose should be demolished.
Once you’ve found your property there are many other considerations you will need to consider if the property you are going to buy has planning restrictions or if it is a listed property.
• Take time to plan your budget, and then add at least 10% to the overall costs.
• Make sure you get an experienced team of architects, builders and conveyancers who can work from start to finish. Make sure you check out their credentials on-line and go and visit some of their previous work.
• Check out to see if you can get a grant to do up the property.
Finally if you need any other help such as financing your new property then give our team of IFAs a call and we will be able to give you all of the most up-to-date mortgage information available.
Issued by: Enable Independent Financial Life Planners 25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Estate Agents – they probably won’t have empty houses featured in their windows, so pop in and ask if they have any available to look at.
Local Council – They will have a list of all the empty properties in their areas. Some councils divulge this information freely whereas others might not. If they refuse put a request in writing, as you have a legal right to request this information.
On-line auctions – check out auction catalogues this is a great place to start, as they often have empty homes on their books.
Land-for-sale – quite often this can have a house on it that they propose should be demolished.
Once you’ve found your property there are many other considerations you will need to consider if the property you are going to buy has planning restrictions or if it is a listed property.
• Take time to plan your budget, and then add at least 10% to the overall costs.
• Make sure you get an experienced team of architects, builders and conveyancers who can work from start to finish. Make sure you check out their credentials on-line and go and visit some of their previous work.
• Check out to see if you can get a grant to do up the property.
Finally if you need any other help such as financing your new property then give our team of IFAs a call and we will be able to give you all of the most up-to-date mortgage information available.
Issued by: Enable Independent Financial Life Planners 25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Disused shops to be converted into homes announces Nick Boles…
Enable Independent IFAs in Bishop’s Stortford were surprised by Nick Boles announcement that disused high street shops, boarded up businesses could be turned into housing.
The plan would be for the Government to give local authorities far greater freedom to convert disused retail premises into homes.
He stated that as more and more shops move to areas outside the town and increasing internet buying has meant that our high street retailers have continued to struggle, he stated that town retailers should keep to just a few prime streets within a town which could mean that the rest could be turned into private housing. He said that he was not abandoning the high streets, and that by creating more homes close by a specific centre in a town would see a boost for our high street retailers.
Helen Dickinson, director general of the British Retail Consortium, said: "We need to see the detail of what is being proposed, but what I would be keen to make sure is that there is a joined up approach to this problem across every Government department, from the Treasury to the Department for Business and the Department for Communities and Local Government."
There is no more information available at this current time, so we will have to wait and see the exact details of this new proposal.
Issued by: Enable Independent Financial Life Planners 25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
The plan would be for the Government to give local authorities far greater freedom to convert disused retail premises into homes.
He stated that as more and more shops move to areas outside the town and increasing internet buying has meant that our high street retailers have continued to struggle, he stated that town retailers should keep to just a few prime streets within a town which could mean that the rest could be turned into private housing. He said that he was not abandoning the high streets, and that by creating more homes close by a specific centre in a town would see a boost for our high street retailers.
Helen Dickinson, director general of the British Retail Consortium, said: "We need to see the detail of what is being proposed, but what I would be keen to make sure is that there is a joined up approach to this problem across every Government department, from the Treasury to the Department for Business and the Department for Communities and Local Government."
There is no more information available at this current time, so we will have to wait and see the exact details of this new proposal.
Issued by: Enable Independent Financial Life Planners 25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Spain attracts foreign property investors as it promises aliens automatic residency…
Enable Independent has witnessed the decline of Spanish property prices over the past few years. Over development of property in the country has left a glut of housing which has resulted in property prices being axed by as much as 75% in some parts of Spain.
However in the past few months, popularity in investing in Spain has increased as low prices have stimulated growth in the country. This coupled with the fact that Non-EU residents will get automatic residency if they spend over £500,000 from July 2013 has increased interest from people living in Asia, Russia and China.
Foreign investment in the Spanish housing market has increased by 17% in 2012, according to the bank of Spain, a figure not seen since 2004. With most Chinese buyers wanting to invest in Barcelona, as they know they will not only get a great investment on returns but also automatic residency.
Barcelona, Ibiza, Catalonia and the Balearics are the most popular investment areas for overseas investors.
We have found a three bed apartment with views over the sea (as per the photo) and with a communal pool for €410,000 at today’s exchange rate £355,388 it has a terrace with two bathroom and is close to restaurants. For more information please visit this website @http://www.kyero.com/property/2055525-apartment-for-sale-sitges
Although there has been an increased interest in property in other areas of Spain it is worth approaching a Spanish house investment with caution, as a country that has been bankrupt, has mass unemployment and a growing water shortage should be handled with care.
If you would like to talk to our team about investing in Spain or in a property abroad why not contact Enable today.
Issued by: Enable Independent Financial Life Planners 25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
However in the past few months, popularity in investing in Spain has increased as low prices have stimulated growth in the country. This coupled with the fact that Non-EU residents will get automatic residency if they spend over £500,000 from July 2013 has increased interest from people living in Asia, Russia and China.
Foreign investment in the Spanish housing market has increased by 17% in 2012, according to the bank of Spain, a figure not seen since 2004. With most Chinese buyers wanting to invest in Barcelona, as they know they will not only get a great investment on returns but also automatic residency.
Barcelona, Ibiza, Catalonia and the Balearics are the most popular investment areas for overseas investors.
We have found a three bed apartment with views over the sea (as per the photo) and with a communal pool for €410,000 at today’s exchange rate £355,388 it has a terrace with two bathroom and is close to restaurants. For more information please visit this website @http://www.kyero.com/property/2055525-apartment-for-sale-sitges
Although there has been an increased interest in property in other areas of Spain it is worth approaching a Spanish house investment with caution, as a country that has been bankrupt, has mass unemployment and a growing water shortage should be handled with care.
If you would like to talk to our team about investing in Spain or in a property abroad why not contact Enable today.
Issued by: Enable Independent Financial Life Planners 25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Thursday, 1 August 2013
Help to Buy – but how does it actually work?
Since this year’s Governments’ budget the news has been littered with information about Help to Buy equity loans. It has been criticised as creating another ‘housing bubble’ and house prices have risen in some areas of the UK considerably since the announcement of the plan, which doesn’t actually come into place until 2015.
The Help to Buy scheme is set to supersede The New Buy Scheme which was aimed at first time buyers buying new homes, where as the new scheme will enable anyone wanting to move into new-build homes up to the value of £600,000.
So at Enable Independent in Bishop’s Stortford we’ve checked out some Help to Buy facts:
You will need to be able to put at least a 5% deposit down on a house, the Government will then be able to give you a loan for up to 20% of the price, enabling buyers to access cheaper mortgages of up to 75% for the rest.
So for example if you wanted to buy a house for £400,000 here are the figures:
Cash deposit of 5% - £20,000
Equity loan from the Government 20% - £80,000
Mortgage 75% - £300,000
If you wanted to sell your home based on these figures above for £410,000, you would receive £328,00 (80% from your mortgage and cash deposit) and then you would pay back £82,000 on the loan (20%). You would then need to pay off your mortgage with your share of the money.
The home will be in your name which means you can sell it at any time, but you will have to pay back the equity loan either when you sell your home or pay off your mortgage. You will also be able to pay back either 10% or 20% of the amount of the loan as you go along as long as it’s worth at least 10% of the value of your home.
If you take an equity loan out you will not need to pay loan fees for the first five years of owning your new home. After that you will be charged a fee of 1.75% of the loans value, then the fee will increase each year after the sixth year, the increase will be worked out using the Retail Price Index plus 1%.
The agent who deals with your Help to Buy scheme will contact you before the fees start, enabling you to set up monthly payment with your bank. Fees don’t count towards paying back your equity loan.
If you are still confused about what this would actually mean to you buying a new home, then why not contact our team of Independent Financial Advisors and we will be able to give you any help you need applying for the scheme.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Issued by: Enable Independent Financial Life Planners 25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
The Help to Buy scheme is set to supersede The New Buy Scheme which was aimed at first time buyers buying new homes, where as the new scheme will enable anyone wanting to move into new-build homes up to the value of £600,000.
So at Enable Independent in Bishop’s Stortford we’ve checked out some Help to Buy facts:
You will need to be able to put at least a 5% deposit down on a house, the Government will then be able to give you a loan for up to 20% of the price, enabling buyers to access cheaper mortgages of up to 75% for the rest.
So for example if you wanted to buy a house for £400,000 here are the figures:
Cash deposit of 5% - £20,000
Equity loan from the Government 20% - £80,000
Mortgage 75% - £300,000
If you wanted to sell your home based on these figures above for £410,000, you would receive £328,00 (80% from your mortgage and cash deposit) and then you would pay back £82,000 on the loan (20%). You would then need to pay off your mortgage with your share of the money.
The home will be in your name which means you can sell it at any time, but you will have to pay back the equity loan either when you sell your home or pay off your mortgage. You will also be able to pay back either 10% or 20% of the amount of the loan as you go along as long as it’s worth at least 10% of the value of your home.
If you take an equity loan out you will not need to pay loan fees for the first five years of owning your new home. After that you will be charged a fee of 1.75% of the loans value, then the fee will increase each year after the sixth year, the increase will be worked out using the Retail Price Index plus 1%.
The agent who deals with your Help to Buy scheme will contact you before the fees start, enabling you to set up monthly payment with your bank. Fees don’t count towards paying back your equity loan.
If you are still confused about what this would actually mean to you buying a new home, then why not contact our team of Independent Financial Advisors and we will be able to give you any help you need applying for the scheme.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Issued by: Enable Independent Financial Life Planners 25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Self-employed? How much do you know about the single-tier pension?
Since the economic crisis the amount of unemployed people in the UK has risen by 10 per cent, to just over four million people working for themselves.
Although those people who are self employed make up a seventh of the workforce, they only receive tiny pension tax relief, £800m out of a possible £28.5bn available in the UK. The average employed person also receives six times as much tax relief as his self-employed counterparts.
Currently self-employed people do not qualify for the state second pension. The single-tier pension due to be introduced in 2016 will help to reduce the pension void between the employed and self-employed. Although self-employed people in the UK will not really experience equality for sometime, as employees will protect their higher pensions through S2P (State Second Pension) or contract-out to alternatives.
In a report this year by Scottish Widows it revealed that 33% of self-employed are putting enough into place for their retirement, compared to 45% overall. People working for themselves, 20% are relying on previous work pensions to provide them with their main retirement income, as they feel that this will provide them with more than their own retirement savings.
There is a misconception that business owners can top up their pension pot by selling off their business, as overall only 8% of self-employed expect that to be one of their top three income sources in retirement. They also expect to have to work much longer than the normal retirement age, with 1 out of 8 self-employed stating that they will probably have to work until they are at least 75 years of age.
The government still needs to do more to even the gap between employees and people working for themselves.
If you are self-employed and are worried about how you can save/invest enough to prepare you for the later years, then why not give Enable Independent a call, we will be able to review your current situation and put in real measures to try and enable you to achieve your retirement goals.
Issued by: Enable Independent Financial Life Planners 25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Currently self-employed people do not qualify for the state second pension. The single-tier pension due to be introduced in 2016 will help to reduce the pension void between the employed and self-employed. Although self-employed people in the UK will not really experience equality for sometime, as employees will protect their higher pensions through S2P (State Second Pension) or contract-out to alternatives.
In a report this year by Scottish Widows it revealed that 33% of self-employed are putting enough into place for their retirement, compared to 45% overall. People working for themselves, 20% are relying on previous work pensions to provide them with their main retirement income, as they feel that this will provide them with more than their own retirement savings.
There is a misconception that business owners can top up their pension pot by selling off their business, as overall only 8% of self-employed expect that to be one of their top three income sources in retirement. They also expect to have to work much longer than the normal retirement age, with 1 out of 8 self-employed stating that they will probably have to work until they are at least 75 years of age.
The government still needs to do more to even the gap between employees and people working for themselves.
If you are self-employed and are worried about how you can save/invest enough to prepare you for the later years, then why not give Enable Independent a call, we will be able to review your current situation and put in real measures to try and enable you to achieve your retirement goals.
Issued by: Enable Independent Financial Life Planners 25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
Stop ‘Bedroom tax’ for disabled, dismissed by the High Court this week…
Enable Independent, Financial Advisors in Bishop’s Stortford have been following with interest the housing benefit challenge taken by a group of disabled people to high court this week.
The group has been challenging the cuts in social housing benefit for those people who have a spare room in the UK. They claimed that the social cuts were a form of discrimination, however the High Court stated that the new extra bedroom tax was not unlawfully discriminate. However it did criticise the government for failing to make an exception where disabled children were involved.
The new social benefit tax named as ‘bedroom tax’ by its critics was introduced in April this year. Anyone who is claiming housing benefit who has a spare bedroom have had their benefit reduced by 14%, and those people who have two or more free rooms have experienced reductions of 25%.
The group claim that the social tax hit them disproportionally and that it was a type of discrimination, stating that the extra bedroom is often needed for extra medical equipment, or in if a child had a behavioral problem it was impossible for them to share a bedroom with a sibling.
The High Court have said that the Department for Work and Pensions needed to work quickly to make sure that housing benefit was not reduced where an extra bedroom was required for a disabled child unable to share a room. In reply the Government have stated that the new ruling will be introduced in Autumn. They also said that they have already given £150m to councils to make payments where they feel necessary to help those who have been affected by the new social changes, since the hearing they have stated that they will also put an additional £35m into the fund for people affected.
We can only hope that the additional funds goes to the right people, who really need to be helped in this time of social transition.
Issued by: Enable Independent Financial Life Planners 25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
The group has been challenging the cuts in social housing benefit for those people who have a spare room in the UK. They claimed that the social cuts were a form of discrimination, however the High Court stated that the new extra bedroom tax was not unlawfully discriminate. However it did criticise the government for failing to make an exception where disabled children were involved.
The new social benefit tax named as ‘bedroom tax’ by its critics was introduced in April this year. Anyone who is claiming housing benefit who has a spare bedroom have had their benefit reduced by 14%, and those people who have two or more free rooms have experienced reductions of 25%.
The group claim that the social tax hit them disproportionally and that it was a type of discrimination, stating that the extra bedroom is often needed for extra medical equipment, or in if a child had a behavioral problem it was impossible for them to share a bedroom with a sibling.
The High Court have said that the Department for Work and Pensions needed to work quickly to make sure that housing benefit was not reduced where an extra bedroom was required for a disabled child unable to share a room. In reply the Government have stated that the new ruling will be introduced in Autumn. They also said that they have already given £150m to councils to make payments where they feel necessary to help those who have been affected by the new social changes, since the hearing they have stated that they will also put an additional £35m into the fund for people affected.
We can only hope that the additional funds goes to the right people, who really need to be helped in this time of social transition.
Issued by: Enable Independent Financial Life Planners 25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
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