National Insurance (NI) gap If you want to boost your State Pension and plug a gap in your NI record, the government has just extended the deadline for doing so from 31 July 2023 to 5 April 2025. The government has been allowing eligible people to retrospectively build up their April 2006 to April 2016 […]
Monthly archives: July 2023
HNWIs cutting pension contributions
Research has highlighted that in an effort to alleviate daily financial pressures, including rising mortgage rates, one third of high-net-worth individuals (HNWIs) have reduced their pension contributions or intend to do so in the next six months1. Those with assets of £250,000 plus are more likely to have reduced their pension contributions in the last […]
Housing stock high
The number of houses for sale has soared new figures show1, further strengthening the position of buyers. Supply surge? Ever since the pandemic days of frenetic buying, demand outstripping supply has been a familiar picture in the UK housing market. As interest rates have risen sharply in the past year, moreover, some potential sellers have […]
The benefits of being a new tax year front runner
The longer days of summer are the ideal time to think about what you want for yourself and your family in the future, to set specific financial goals and to benefit from getting plans organised early in the tax year. Setting your goals Considering your individual financial goals and developing a financial plan that aligns […]
Mixed signals in housing and mortgage markets
Activity in the housing and mortgage markets is hotting up – and cooling down. According to the latest Residential Market Survey from the Royal Institution of Chartered Surveyors, a run of thirteen successive negative monthly readings for new instructions ended in May, marking the strongest reading for new listings since March 20211. Yet house prices […]
Making purposeful financial decisions to combat inflation
The upsurge in inflation over the last year or so has again vividly highlighted the devastating impact sharply rising price levels can wreak on people’s finances. Carefully reviewing your financial choices now, though, can ensure you continue making appropriate decisions that will help to stop inflation leaving a lasting impression on your financial future. A […]
Pensions – what’s changing?
During the Spring Budget the Chancellor announced several changes to pensions including increasing the Annual Allowance and the Money Purchase Annual Allowance. The changes, the most significant since pensions freedoms in 2015, have largely been met with positivity, bringing greater flexibility and opportunity. Some higher-paid workers faced additional tax bills as a result of building […]
Green home improvements on hold
Homeowners are delaying improvements to the sustainability of their homes, according to the latest ‘Greener Homes Attitude Tracker’ from Natwest1, as cost-of-living difficulties remain. Cost-of-living delay More than a quarter of homeowners indicated they are less inclined to implement energy saving measures in the upcoming 12 months amid enduring financial concerns. In the three months […]
Where are house prices most protected?
In a housing downturn, not all cities and towns are equal. New research1 has highlighted which areas of the UK are the most resilient in the face of falling prices. On the slide In January, overall property prices fell for a fifth consecutive month, as the market continued to cool. Sliding prices have been brought […]
Economic Review – June 2023
Inflation persistence forces rates higher The Bank of England (BoE) has sanctioned another hike in its benchmark interest rate after citing ‘significant upside news’ which suggests inflation is likely to take longer to fall back to the Bank’s target level. Following its latest meeting, which concluded on 21 June, the BoE’s nine-member Monetary Policy Committee […]
