FAQs

Mortgage Advice

WHERE DO I START WITH MORTGAGE ADVICE?

After contacting us regarding your mortgage enquiry we will get back in touch regarding a FREE initial consultation (Think of your first meeting as a get to know you session).

This meeting can be done in person, telephone or video meeting (Zoom, Skype etc.)

We recommend you check your credit rating on www.checkmyfile.com before you begin the process.

Within this first meeting we will require some more personal information such as income & expenditure details, employment status and any debt outstanding (eg. credit cards, HP agreements, car loans etc).

Now, we can begin to formulate mortgage solutions and obtain approval from the most appropriate market leading lender, subject to criteria.

After doing so we can also assist in your next steps regarding the Conveyancing/ Legal process through our panel of reputable solicitors.

WHY DO I NEED MORTGAGE PROTECTION?

It is essential to protect your biggest asset - your home. In the event of death, critical illness or loss of income due to illness or injury you want the peace of mind that your family or loved ones are not left with any outstanding liabilities to your mortgage lender.

HOW MUCH DO WE CHARGE?

We do not charge our clients a fee for the first initial consultation.

We receive a procuration fee from the lender, normally 0.3% of the loan amount. If this figure is below £500 we reserve the right to charge the difference up to £500.

Example -

Mortgage - £100,000 (Fee from lender- £300)

= Client Fee- £200

However, on the vast majority of cases our clients engage in our valuable mortgage protection recommendations (life, critical illness and income protection). Therefore, in almost all cases clients pay no fee.

*Lifetime and equity release mortgages are chargeable on completion*

Investment & Wealth Management

IS NOW A ‘GOOD TIME’ TO INVEST MY MONEY?

Unfortunately, defining a “good time” to invest is really an impossible question as we never know what is in store for the future.

Long term investment in stocks and bonds nearly always outperforms cash over the longer (10+ years) term. 

Therefore, stock market investments are usually good for long term wealth as they can outpace inflation, retain, and potentially increase the value of your capital over time. 

There is an argument to say that after a stock market fall, buying shares when they are cheap is a good strategy, but, only if you hold them for the longer term.   In the short-term markets can be extremely volatile, and there is no guarantee that they will not fall, possibly significantly, during any investment period.

Which investment strategy is best to adopt ?

‘Time in the market’ rather than ‘timing the market’ is the best strategy to adopt.  If you have a capital lump sum or excess income that you want to use in the future, i.e. at least 10 years+ from now, then certainly history shows us that stocks and bonds generally outperform cash in the long term and so can be a better strategy to increase value over a long time frame. 

Care should be taken to decrease portfolio risk if and when there is a more imminent plan to use the invested funds, for example for retirement provision, etc.  The following risk warnings should also be noted: 

• Past performance is no guarantee of future returns.

• The price of units and the income from them can fall as well as rise.

There is no guarantee that you will get more out of an investment than you have paid in. The investment can grow but depending on market conditions you may not realise the initial sum invested.

CAN I HAVE MORE THAN ONE PENSION?

Pension: Currently up to £40,000 per tax year, or 100% of earnings if this figure is lower than the £40,000 limit.  However, you may be able to pay in more than this using a facility called carry forward.  If you have no earnings you can pay in up to £3600 per tax year. 

ISA: Currently £20,000 per individual per tax year, regardless of earnings. 

Most other investments have no limits. 

Can I have more than one Pension? 

Yes, you can have as many as you like! 

I have several pensions; can I amalgamate them into one plan? 

Yes, but with care, as some pensions have specific benefits that would be lost on a transfer to a new plan.