You could be forgiven for believing that as house prices rise, mortgage rates would rise in correlation. But as house prices reach a record high in the UK, mortgages rates remain the most affordable in a decade. This lack of symmetry has many contributing factors, including the housing market itself, low unemployment rates and mortgage approval rates.
As of March 2018, average house prices rose by 2.7% over the previous 3 months to reach a record high of £227,871. This increase in house prices is a consequence of the UK’s limited housing market – housing developments are not meeting housing demands and so the lack of competition in the housing market leaves homeowners with very few alternatives. (more…)
Business debt has been dominating UK business news for weeks. With retailer New Look announcing the closure of 60 stores throughout the UK, and electrical franchise Maplin’s closure of over 200, these serve a reminder to businesses to do all they can to protect their interests. One way to do this is Business Loan Protection which is a little like first-aid for businesses. But what is it?
The concept of paying more to than you need on your mortgage to reduce your balance more quickly sounds like a no-brainer. Get it right and with overpaying you could be quids in. Get it wrong and you could be facing some nasty penalties.
This guide can help you decide if overpaying on your mortgage is the right move for you:
Yes, it should.
Every New Year we all jot down a list of resolutions that we intend on sticking to for the upcoming year ahead. These are usually resolutions that might help us to be more active, lose weight or help our finances, but shouldn’t we do something a bit more practical and something that could really benefit the future should the worst happen? Say, taking out Life insurance?
That’s why First Financial Solutions recommend life insurance be your 2018 resolution!
With Christmas quickly approaching we would like to take this opportunity to wish all our clients a Merry Christmas and a Happy New Year.