For the self-employed, obtaining a mortgage can feel like an uphill struggle. With lenders becoming more cautious, and borrowing rules and regulations becoming stricter since the financial crash, the self-employed have been one of the groups hardest hit. They must jump through many hoops, and be able to prove a steady income and have a healthy home deposit. (more…)
Relevant life cover, also known as a relevant life plan, is a form of business insurance that provides a payout for employees in cases of death in service. It is a lesser known life insurance policy and take up is quite small, but it can be one of the more beneficial plans as it can provide large savings. (more…)
You’ve saved a deposit, been approved a mortgage in principal, and now, finally, you have found your perfect home. You make the offer and things are going swimmingly – until you hear the dreaded words off the surveyor or lender, your perfect home is unmortgageable. (more…)
Last year, The Prudential Regulation Authority (PRA), the arm of the Bank of England that regulates banks and the financial sector, confirmed it would be bringing in tougher underwriting standards for buy-to-let lenders. These rules, which come into play on September 30th 2017 will affect landlords who have 4 or more mortgaged properties. (more…)
Father’s Day has recently passed, whilst families all over the UK celebrated their dads, 3.9 million UK fathers are placing their families in a financial risk by not having life insurance. (more…)
If a shareholder in your company were to die could you afford to purchase their shares?
If the answer is no, it may be time to think about what you could do to protect the future of your business and its ownership. (more…)
You feel ready to purchase your first house and take on the responsibilities that come with it – but you need to save for a deposit.
Saving up for a deposit may seem difficult and can test your patience, but having a sizeable deposit has many benefits. It means you could be offered better mortgage rates due to reduced risk for the lender and it provides them with confidence in your ability to budget, save, and therefore be able to meet your monthly repayments. (more…)
As the name suggests, business loan protection is a type of insurance policy that is designed to pay off part of or all, of a business’ debts should a key employee die or suffer from a critical illness. Currently, a study has found that 65% of British SMEs have some form of business debt, with the average borrowing being £176,000, and being unable to repay these loans can turn into a serious issue quickly. (more…)
Recent research has found nearly half of working women in the UK do not have any form of protection policy in place. 6 million UK mothers with dependent children have no form of life insurance and only 9% of mums have a critical illness policy. (more…)
No matter how much we wish we could, we can’t predict the future. Tragedy can happen to anyone, at any time. Whether it’s the death of a close relative or being diagnosed yourself with a serious illness, planning for life’s misfortunes could be the difference to your business surviving or not. (more…)