Not only do you need to consider which mortgage is right for you, you need to think about which interest rate options are most likely to suit your needs.
The individual and group pensions market is an ever-changing world, with new legislation being introduced on a regular basis. Hopefully within this section of our website we can explain many of the options available in plain simple language and help you plan for your future. This information is purely intended as guidance and therefore if you require any specific advice please contact us directly.
It is as important to protect your possessions i.e. house and contents, as well as yourself. We can also provide illustrations for Accident, Sickness and Unemployment Cover.
This area includes advice on life assurance, protecting your income and family protection – all enabling you to protect your loved ones in the event of serious illness or death. We also offer advice on business protection, for Directors and Partners. Read more
Savings and Investments:
Are you making the best use of any spare capital or surplus income? We can offer you advice on a full range of savings and investments products to suit your needs and help you reach your dreams.
Your home may be repossessed if you do not keep up repayments on your Mortgage.
Mortgages – Using a research sourcing tool with access to hundreds of mortgage products from various lenders, we can provide advice relating to first time buyers, moving house, buy to let, shared ownership, new builds.
Remortgages – When you remortgage, you are switching your mortgage to another deal, and frequently another lender. Remortgages can be used for various reasons. Most people will simply switch mortgages because it will work out cheaper for them.
First Time Buyers – Buying a house is one of the most important purchases you will make in your lifetime, and buying a home for the first time will be an even more daunting prospect – we can help you…..
Buy to Let Mortgages – Having a second property to let to tenants could reap financial rewards over time. However being a private landlord can be risky and complicated, speak to us and we can help smooth the way…
Equity Release – We also provide advice on equity release, which allows clients to enjoy their retirement to the full, by releasing some of the capital from their property.
Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits.
Current Account Mortgages – You can run all of your finances through a single account – your mortgage, current account, savings and personal loans.
Self-Build Mortgages – With a self-build mortgage, money is released in stages as the build progresses rather than as a single amount. We can help you if your dream is to build your own home.
Shared Ownership Mortgages – This enables you to buy a property, which would normally be outside your price range, because you are able to buy a “share” jointly, normally with a Housing Association.
Buy to let mortgages are not regulated by the Financial Conduct Authority.
Pensions – We can plan your income for retirement and also plan to enable you to retire earlier than the current State Pension Age. We can also review any existing plans you may have.
What is a personal pension? The fundamentals of a personal pension plan are very simple. You put money into a savings fund, it hopefully grows in value and at retirement you convert the fund into a regular income payment, with the aim being that this replaces all or part of your employment earnings.
Retirement Options – Currently everyone is entitled to a lump sum (currently free of tax) of up to 25% of their pension fund. This can be taken at any time from age 55, even if they continue working and do not draw an income from their pension.
It is not necessary to purchase an annuity, but an income can instead be drawn from the fund at up to 100% of the annuity that could be purchased.
Tax treatment varies according to individual circumstances and is subject to change.
Life Assurance – To pay off any debts and to provide an income for the family for as long as it is required.
Income Protection – To replace your earnings should you become too ill to work, or are injured as the result of an accident, this should not just cover mortgage repayments but all aspects of expenditure – remember, costs can actually be higher if a family member is incapacitated;
Private Medical Insurance – Despite some improvements in NHS waiting lists, it can still take too long for much needed surgery or treatment.
Critical Illness Cover – A lump sum can be very helpful if a family member is diagnosed as having a life-threatening illness.
Redundancy Protection – An insurance policy can help you pay your monthly mortgage payment and pay towards some other household bills if you are made redundant. See the Government tool which will help you calculate your statutory redundancy entitlement from your employer at www.direct.gov.uk/redundancy.dsb
Key Man Insurance – For most businesses – large and small – their most valuable asset is their employees. But what is less commonly recognised is that there are usually one or two people whose loss through illness or injury could be potentially catastrophic for the company.
We can help you identify who is critical to your business and then arrange cover that provides a lump sum or income to cover the cost of replacing them at short notice – which is invariably more expensive than their existing salaries!
Business Protection Assurance -The loss of a partner or shareholding director can be immensely damaging to a small business because ownership of the company can effectively be lost, if testamentary arrangements are not correctly set up.
We can help to ensure control of the business remains with the “right” people, whatever happens, and arrange any necessary insurance to ensure that families and other beneficiaries can be adequately compensated, where necessary.
Savings and Investments:
The value of the investment and the income they produce can go down as well as up and you may not get back as much as you put in.
Investing for income or growth may appear simple enough, but as soon as you start looking at all the alternatives available to you, it can become rather daunting. That is why so many of our clients ask us to help them and provide savings and investment advice.
This involves us taking time to understand their attitude to risk and the timescale over which they are likely to require access to their capital.
We find that those clients who accept an “asset allocation” strategy tend to do rather well. This strategy looks first at the timescale over which access to assets is likely to be required and then the different risk profiles of the assets concerned. We then consider the way different asset classes move; for example, when equity markets are rising, fixed interest investments tend to become relatively less attractive, which pushes their price down (but the yield they offer, up). Similarly, if equity markets in the UK are falling, those in the US, Europe or Far East may be rising, or vice versa. Few markets move in the same direction at the same rate, all the time.
Generally those following a mixed asset allocation strategy are likely to do better, overall, over the longer term than those investing in just one class.
We will also consider which investments are most likely to minimise your exposure to tax on income and capital gains. This will often involve the use of Individual Savings Accounts (ISAs) which offer a tax efficient way of saving and investing.
RMB Financial Planning Limited can help you with your Investment and Savings Plans.