What is an SVR mortgage and why might you end up with one?
Posted by siteadmin on Wednesday 22nd of June 2022
Sarah has never overstretched herself when it comes to money. After paying her monthly bills, she’s always had a bit left over. So, when her mortgage lender wrote to her to remind her that her five-year fixed-rate deal was coming to an end and that she needed to find a new deal or she’d be switched to their standard variable rate (SVR), she simply let them make the switch. She wasn’t worried about money and thought looking for a new deal would be too much hassle.
The interest rate on an SVR mortgage is set by the bank or building society an...
Could remortgaging help you beat the cost-of-living crisis?
Posted by siteadmin on Wednesday 22nd of June 2022
Practically every penny of Mike’s monthly salary is accounted for so, as the cost-of-living crisis starts to bite, he’s worried about making ends meet. He’s started shopping around for cheaper deals on his broadband, mobile-phone contract, and car insurance, and he’s also cancelled his gym membership and a couple of his TV subscriptions. But he’s overlooked the bill offering the largest potential saving – his mortgage.
What is remortgaging?
Remortgaging involves taking out a new mortgage on a property you’ve already bought. You might do th...
10 Ways to reduce your tax bill
Posted by siteadmin on Wednesday 22nd of June 2022
Being tax smart means knowing the basics about how tax affects your life and money. Here are 10 ways to reduce your tax bill, which could make your money go further for you and your loved ones.
Personal savings allowance
You’re entitled to receive some interest on your savings tax-free every year, depending on your income tax band. For non-taxpayers or basic rate taxpayers you’re allowed up to £1,000 per year; for higher rate taxpayers you get £500. If you have savings with a spouse or partner, you can each use your allowances against your j...
How to protect your business
Posted by siteadmin on Wednesday 22nd of June 2022
How to protect your business
What is business protection insurance and how does it work? Find out why it could be right for your business.
If you own or run a small business, protecting it is always a priority, especially if something were to happen to a key member, which could affect the financial health of the company. In this situation, business protection insurance could provide some peace of mind.
What is business protection?
Business protection provides coverage in the event that a director, business partner or other key empl...
How does a remortgage work?
Posted by siteadmin on Wednesday 22nd of June 2022
How does a remortgage work?
A remortgage is the process of moving your home’s existing mortgage to one with a new lender. Remortgaging could help you save money if you weigh up the fees involved with the savings you could make. Here’s how it works.
People remortgage for many different reasons, including:
- Finding a better deal elsewhere – you might be on a standard variable rate (SVR) and want to move to a fixed-term rate.
- Coming to the end of a fixed-term deal on your current mortgage and wanting to lock in a lower rate with a ne...
