With over 10 years of record low interest rates, fixed rate mortgages offer borrowers the stability of knowing what the mortgage payment will be for a set period, which helps with budgeting.

Because of the way many lenders decide what rates to offer, we’re currently seeing tracker products priced a lot more competitively than fixed rate products.

Unlike a fixed rate, the monthly payment of a tracker mortgage fluctuates and the rate charged on the mortgage ‘tracks’ the Bank Rate usually for a set period. Whilst you may have to pay a penalty...

Hardly a day goes by without the cost of living hitting the headlines. For many homeowners the increasing costs of owning and running a home is having a huge impact on household budgets. For those borrowers with a fixed rate mortgage, the recent increase in mortgage interest rates may not have an immediate impact. However, as mortgages are more expensive now than they were two years ago, you may see your mortgage payments rise when you next come to remortgage.

Overpaying on your mortgage now could save you more on interest down the line and...

As we say goodbye to 2022 and welcome 2023, now’s the perfect time to make sure you’re fully prepared for the financial year ahead. To make it easy, we’ve summarised the key financial dates to put in your diaries:

January

• 31st – Self-Assessment Tax Deadline – You need to pay and submit your self-assessment tax return for the tax year ending 5th April 2022.

March

• 15th - Spring Budget - An update on the overall health of the economy and progress made since the Autumn Budget.
• 31st – End of the Help to Buy Scheme – Buyers who applied ...

Money and financial goals are still sometimes viewed as taboo subjects, even within relationships. If you’ve been putting off conversations about finances, creating a plan together could have many benefits.

Actively talking about money can be positive for both you and your loved ones, and research suggests it’s something younger generations are more likely to do. According to Royal London, 76% of 18 to 24-year-olds spoke to their parents about money matters when they were growing up. In contrast, this falls to 43% for those over 65.

If mon...

The Bank of England has raised interest rates and warned further hikes are likely in the coming months. This will mean bigger bills for some homeowners.

On 22 September 2022, the Bank of England raised interest rates from 1.75% to 2.25% - the seventh hike since December 2021 - in a bid to combat soaring inflation. And, the Bank’s Governor, Andrew Bailey, has warned people to expect further rises in the coming months.

It is now widely anticipated that rates will rise to over 5% by Spring next year. This has had a huge impact on the mortgage...

In his 2021 Budget, the Chancellor announced a five-year freeze on the lifetime pension allowance. What does this mean for you and your retirement fund?

What is the lifetime pension allowance?
The lifetime pension allowance sets a limit on how much you can save in your pension before you start paying tax on anything over the limit. For a few years before the 2021 announcement, the limit had been tied to inflation, meaning that it rose in line with the cost of living.

With the global pandemic and surge in inflation over the past couple of ye...