Struggling to move home?
Article posted on Friday, July, 8th, 2011 at 7:29 am
There are thousands of homeowners in the UK who are desperate to move their mortgage to a new property but borrowers are finding it a lot harder to move their mortgage, as they are finding that they are no longer eligible for a mortgage as the bank has changed its criteria.
Only last week the Bank of England said the housing market remained very ‘subdued’ and this was largely down to the tough criteria and restrictions in place to homeowners. Many have fallen foul to new affordability tests and lack of equity.
Interest rates are the lowest since records began, but moving home is harder then ever which is why registering with findfinancialadvice might be the best you can do as your adviser will be able to walk you through all your options and show that you that moving home can be a reality.
Financial products that can damage your health, not just your wealth
Article posted on Thursday, July, 7th, 2011 at 7:20 am
There are about 4.5 million whole of life insurance policyholders in the UK who every month pay into their insurance policy which guarantees to pay a lump sum on death.
These policies are often sold by the banks to the elderly to cover the cost of their funeral… these policies can be good value but only if you die shortly after taking out the plan. Banks also use these plans for those customers who are worried about inheritance tax.
However unlike term assurance which is insurance in it simplest form, whole of life insurance is a mix of insurance and investment which is designed to keep the premium low. The reality is that low premiums are more the exception then the norm.
Here are findfinancialadvice, over the years, we have seen many clients who have taken out these type of policy with banks on the basis that the premiums will stay low for ever and will be the most cost effective way of insuring against death. Whole of life insurance plans are reviewed regularly and tend to rise after 10 years and then every year thereafter. Findfinancialadvice has met many pensioners who are struggling to pay insurance premiums which have more then doubled over the years.
If you have a whole of life insurance policy and would like to see what can be done to ensure that your premiums don’t increase then register here on findfinancialadvice and speak to an independent adviser today who will go through all the other options available to you.
How much interest are you earning on your savings account?
Article posted on Wednesday, July, 6th, 2011 at 9:15 am
Findfinancialadvice recently found out that some of the big banks including Halifax, Natwest, RBS and Santander all refuse to print interest rates on your statement. This means that savers are forced to trawl the various websites trying to find out something which should be on their statement in the first place.
Not only are interest rates not shown on statements but savings accounts have such similar names that distinguishing which account of a similar name is yours is another unnecessary challenge….what happened to keeping things clear, simple and in plain language???
Bank also continue to advertise on their websites only the ‘flagship accounts’ , i.e. those with the eye catching rates. Which in reality only offer you the attractive rate for a year and then revert to a much lower rate.
For example, Santander have a 3.3% Flexible Isa is given pride of place on the website but their older accounts paying as little as 0.1% are hidden away.
The simple truth is, if you want to find out the easiest way to discover what interest rate you are earning then register on findfinancialadvice and get in touch with fully qualified, professional advisers with over 10 years experience…..what could be easier? Financial advice doesn’t have to be complicated.
Is Now the Time for Savers to Check Last Year’s ISA’s?
Article posted on Tuesday, March, 8th, 2011 at 6:12 am
As the end of the tax year approaches, savers are being tempted with rates over 3% on new cash ISA’s but be aware because you could be earning as little as 0.05% on money you already have in these accounts.
It seems normal practice for banks to offer reasonably attractive initial rates on cash ISA’s, only to drop them dramatically after a year. For example, last March, Halifax Cash ISA Direct reward went on sale paying 2.6%, now savers will see this drop to 0.5%. This is a similar story for those who opened a Santander Flexible Isa at 3.5%, which has now dropped to 0.5% after 12 months.
This is a similar story with lots of other high street lenders including C&G, Lloyds and HSBC.
The simple rule is, if you have an existing ISA contact FindFinancialAdvice who will find you an experienced adviser who will help you switch to an ISA offering a higher return. The adviser will find those ISA accounts that accept transfers and fill in all the forms on your behalf … what could be easier?
Contact FindFinancialAdvice to start earning more!
Do you complain?
Article posted on Saturday, March, 5th, 2011 at 7:59 am
Brits for a long time have had this image of a reserved nature, one where we don’t like to complain and actually suffer in silence, unlike our friends across the pond.
According to figures that FindFinancialAdvice has read from the Financial Ombudsman Service, there were 100,000 complaints made against high street banks in the second half of 2010; this figure is up 15% on the first half of the year and the equivalent of 534 a day. Although some were initially dismissed by the banks, 53% of those were subsequently upheld in favour of the customer.
Banks are still the main culprits for bad advice with unfair charges on mortgages, loans, credit cards. Of the complaints that were initially dismissed by the banks, a staggering 53% were upheld.
Lloyds, Bank of Scotland, Natwest and HSBC all had thousands of complaints last year. When staff pay is linked to the sales of financial products rather then customer service, then maybe this is no surprise.
Contact FindFinancialAdvice, and we can put you in touch with one of our highly qualified and experience advisers who will provide you with unrivalled customer service and build a long term relationship based on quality financial advice not sales targets.
FindFinanancialAdvice can also help you get compensation if you feel you were mis-sold a financial product. Our advisers all have over 10 years experience in the industry and can act on your behalf and try and win you compensation.
The Big Thaw
Article posted on Friday, March, 4th, 2011 at 7:28 am
After the big freeze in December in the mortgage market, January has seen the property market recover some ground after the severe winter.
Net lending rose to £1.8 billion, its highest level for a year and a significant turnaround from the previous month, when it contracted by £268 million according to the Bank of England.
Nationwide have confirmed that house prices have crept up by 0.3% and there has been a 7% rise in the number of mortgage approvals.
If you want to see if you can get a mortgage or even remortgage, then speak to a qualified adviser with at least 10 years experience and register with FindFinancialAdvice.
Are you in The Red?
Article posted on Thursday, March, 3rd, 2011 at 8:51 am
A recent survey suggests that 1 in 10 Britons are permanently overdrawn and also 37% have used their overdraft once in the last 12 months. What is even more astonishing is that 46% of 20-29 year olds have gone into the red in the past year and around 16% of this age group have never managed to claw their way back to credit.
Register with FindFinancialAdvice and we will put you in touch with an adviser who can review your spending habits and show you how to get into The Black.
Do we have Adequate Life / Critical Illness Insurance?
Article posted on Wednesday, February, 23rd, 2011 at 7:03 pm
Do we have adequate life insurance and/or critical illness insurance? Do we have any at all? There are a number of differences when comparing providers and products. Please make sure you don’t just shop for the cheapest quote; make sure it does what you need it to do. Your financial adviser should be able to point you in the right direction.
Are Fixed Rates Rising?
Article posted on Thursday, February, 17th, 2011 at 9:36 am
There have been plenty of articles and debate over the last 12 months relating to when interest rates are going to rise. Swaps rates are starting to increase, thus some lenders have increased their rates this week. Whilst we don’t know when the Bank of England will increase rates, is it prudent to fix now to ensure security for your monthly outgoings? Find Financial Advice have been inundated with enquiries to fix. Is this a sign?