Choosing mortgages and protection are not decisions to be taken lightly. In today’s complex economic landscape, financial advice is more important than ever. ‘Advice gap’ A new study from the Financial Services Compensation Scheme (FSCS) I raises fears over a worrying financial ‘advice gap.’ Almost two-thirds of UK adults with savings, investments or a mortgage have not…
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Some 715,000 mortgage holders on tracker rates have seen payments rise by an average of £588 a year following the latest Bank Rate rise1. A further 895,000 on standard variable rates (SVR) will see yearly increases of £370. Monthly rise The Bank of England (BoE)’s Monetary Policy Committee (MPC) increased Bank Rate again in February.…
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Increasing numbers of older homeowners are choosing to release equity, latest figures1 reveal, with cost-of-living pressures the main reason for tapping into the value of their home. In total, homeowners used equity release to borrow £6.2bn in 2022, a 29% yearly rise and a doubling in the amount borrowed since 2017. It’s not only higher amounts…
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