It’s common for people who can access their pension to not take an income from it. This is usually because it doesn’t make financial sense based on considerations like tax, investment return, retirement plans or simply not needing the money. However, when it comes to...
The latest L&G State of the Nation Report suggests that many Business Owners may not have heard of Executive Income Protection. Given the value it can offer to Small Businesses and Limited Company Owners, here’s a simple introduction to Executive Income Protection...
The latest edition of Legal and General’s State of the Nation Report suggests that a majority of Business Owners have never heard of Relevant Life Insurance Plans. Given the potential benefits of this type of policy, it’s important to understand the basics. What is...
Mortgage affordability can be challenging, especially for first-time buyers or those with unique financial situations. One option that has gained popularity in recent years is that of Joint Borrower Sole Proprietor mortgages. It’s becoming more common for families and...
Each lender establishes its own parameters defining who qualifies as professionals or key workers. Additionally, they may specify the necessary qualifications for each profession. Criteria can differ significantly from one lender to another, so it's essential to...
Being unable to work poses a huge risk for a large number of Business Contractors. Having a contingency plan is therefore crucial to counter this risk and make you more financially resilient should the worst happen. Some Contractors believe that they cannot get...
When seeking a mortgage, Limited Company Directors may explore the option of using profits rather than dividends to assess affordability. This can be advantageous, especially as many directors opt for smaller dividends, preferring to retain profits within the...
If later life lending is the right approach, it’s common for people to assume that Equity Release is their only option. In reality, this isn’t the case. There are 3 main options – Standard Mortgage Retirement Interest Only (RIO) Mortgage Lifetime Mortgage / Equity...
There are many specialist commercial insurance options available for each industry. While these policies are very important, some may not cover the biggest financial threat to your income - being unable to work due to long term sickness or critical illness. It’s...
Premiums for Business Protection are usually paid for by the business. The tax treatment depends on the type of policy so it’s best to seek advice from your Accountant. There are also some policies which are treated as employee benefits. Namely these are – Relevant...
The amount of mortgage made available can differ massively depending on both the individual circumstances and the lender involved. For instance, let's consider a scenario where you're a contractor earning a daily rate of £500. Over the past three years, you've...
This is potentially possible, but will depend on a number of factors. Your industry, professional, qualifications and experience are all key points that lenders will consider when assessing your application. However, if your profession fits within an acceptable...
It’s fair to say that the term ‘Equity Release’ tends to be associated with some horror stories from the past. However, this market has evolved and Lifetime Mortgages are now considered a more mainstream and certainly heavily regulated product. There are many more...
In terms of remuneration through a daily rate, some lenders incorporate this into their affordability calculations, deviating from the usual method of assessing income, such as payslips for the employed and accounts and tax returns for the self-employed. Typically,...
This depends on your individual circumstances. We can’t advise on pensions or investments. However, we can work with your Pension Adviser / Wealth Manager to make sure you get the right mortgage advice based on your individual circumstances. Whatever your reason, it’s...
Yes. Traditionally this was difficult as lenders wouldn’t consider mortgages over a certain age (i.e. 65). However, many will now accept pension income and some have no maximum age. Furthermore, we work with lenders who can translate the value of a pension into an...
Currently, as a professional, you may indeed qualify for a mortgage valued at up to five times your salary. Some lenders even consider extending this to 5.5 times your salary an occasionally over 6 times salary. However, several key considerations should be noted....
Being unable to work poses a huge risk for a large number of Business Owners. Having a Business Continuity and Protection Plan is therefore crucial to counter this risk. This will make the business more financially resilient should the worst happen - The loss of key...
