The quiet whisper of change »
So, the changes to Support for Mortgage Interest which George Osborne very quietly laid out in the summer budget of 2015 are coming to pass. In April 2017 the waiting period for this benefit to kick in was extended from 13 weeks to 39. The bigger change however is that from April 2018, this benefit became a loan. There won’t be a credit check or any affordability testing but claimants will have to apply for the loan and compound interest will be charged.
Keeping client’s attention »
Do you remember the board game of Buckaroo?
To top up or not to top up – that is the question »
The introduction of the new single tier state pension in April 2016 brought with it a change to the minimum number of years of National insurance contributions or credit required to achieve a full state pension. For males born after 6 April 1951 or females born 6 April 1953, they are now required to work, or receive a credit, for 35 years. Prior to April 2016 you were only required to work or receive credit for 30 years.
Investing for children: Part 1 »
Given the rising costs of education, be it private education or further education, and the difficulties children often face when trying to get on the property ladder, many parents, grandparents or guardians are often faced with having to consider what planning options are available to them to help meet some of these challenges. In this two part article we look at the opportunities for investing for children.
Mortgage market review - June 2018 »
Mortgage market update for June 2018
Protection market review - June 2018 »
Protection market update for June 2018
My PFS Technical news - 12/06/18 »
Personal Finance Society news update from 24th May to 6th June 2018.
Is Italy really in crisis? »
The word ‘crisis’ is defined in the Oxford English Dictionary as “a time of intense difficulty or danger”. This implies that it is extreme circumstances that usually cause a crisis. So how do the recent Italian political worries stack up on this definition? On the surface, there isn’t much to worry about. There’s nothing extreme about a political stalemate in a country which has had nearly 70 different governments since the war. There’s also nothing extreme about voting into government a political party set-up by a comedian in a country that gave Silvio Berlusconi four shots at running the government. However, when politics, extreme or not, could impact the economic situation, investors tend to take note.
Bringing a trust to an end »
A recent question asked by an adviser has raised an issue which, while seemingly straightforward, may not always be so.
Some time ago Mrs C created a “Bypass trust” as a potential recipient of the death benefits under her pension scheme. Like most such trusts, the trust was created with only £10. Under this particular trust the settlor named a protector, i.e. the person who would exercise certain rights after the death of the settlor. Obviously, nothing much was going to happen with this trust until the settlor died and the death benefits became payable. The settlor named her husband as the protector (again, the usual choice for married individuals). Unfortunately, the couple are now in the process of divorcing and it has come to light that the trust did not include any provisions for the removal or change of the protector. It was therefore decided to terminate the trust. So, how could this be done?
My PFS Technical news - 29/05/18 »
News update on taxation & trusts, pensions and investment planning, for the period 10 - 23 May 2018.