Insurance, rather like the NHS, is something you pay for so that it’s there if you need it, even though you probably sincerely hope that you don’t.  Nevertheless, every year, indeed, every day, people use the NHS for things they hoped would never happen to them, from freak accidents to serious illnesses and every day people claim on insurance policies for things they hoped would never happen to them - but they did. Insurance, employment and self employment National Insurance may be paid by both the employed and the self-employed and in addition to funding social services such as the NHS, it also funds or helps to fund, some forms of social assistance to those in need, such as those with serious illnesses or disabilities, however, the funds on offer may not be sufficient to meet what you consider to be your needs, let alone your wants.  Those in employment may get a higher level of cover through their employer and it never hurts to check, particularly since doing so may reveal that, again, the level of cover is less than you would need, let alone less than you would like.  The self-employed will not even have the safety net of employment cover and hence need to make it a priority to ensure that they have sufficient cover in place for any misfortune which might befall them, no matter how unlikely it is. Protect your health and protect your wealth Do you really want to find yourself in a situation when you are forced to choose between devoting all your energy to recovering your health or keeping working to pay the bills, knowing that, as a minimum, it will slow your recovery?  If the answer to that question is “no”, then you should make it a priority to have the necessary insurance cover in place.  For example, income protection cover, does exactly what its name says and can pay out in a variety of situations, while critical illness cover is likewise self-explanatory and can pay out if you are diagnosed with one of a range of critical conditions.  You may also want to look at medical and dental insurance to give yourself an enhanced range of options should you fall ill, for example, you may be able to get treatment in a shorter time and/or at a hospital which is more convenient for you.  You may also find your insurer pays for treatments which are recommended by the NHS but not necessarily funded by them, like extra physiotherapy to help you recover from an accident. Consider the broader aspects of protecting your livelihood Even if you are in employment and have reached a stage where you have maximum employment rights, unless you are in an exceptionally safe situation, you have to be aware of the fact that redundancy is another fact of life which most people hope won’t happen to them but in most cases can.  If you are self-employed then you have even less security.  That being so, it can be very worthwhile to keep looking actively at ways to ensure you continually develop and maintain skills which are in demand in an ever-changing job market.  You may find that there is a financial cost associated with this and if this is the case, you would need to factor it in amongst  your other financial goals.  If you are self-employed you might also wish to look at having a back-up plan for if you are unable to work for any length of time, be it short of long, so you can, for example, outsource your work to someone who can deliver the quality your clients expect and, hence, continue your professional relationship with them.

Moving home may be something which gets easier with practice, for example, if you’re in the military and have to change homes a lot.  It is, however, probably not something many people would class as a whole bundle of fun and in some cases can be the cause of a lot of frustration and stress.  In addition to all the clearing out and packing and unpacking, there’s all the organising and updating and changing your address with all the relevant people and organisations.  It’s entirely understandable why people might feel tempted to put home insurance on their list of things they just want to get out of the way as quickly as possible.  The key point, however, is to go about this the right way, so you have all the cover you need for as long as you need it. When you buy a new home you are legally responsible for it from the point of exchange Once contracts are exchanged they are legally binding.  This means that when you buy a new home you become legally responsible for the building itself right from that point, even if other people are still living in it.  Therefore, if at all possible, you almost certainly want your house insurance for your new home to start on the day of exchange rather than on the day on which you move in.  Depending on your situation, this may mean arranging “double cover” for a while.  For example, if you exchange on your new home before you have sold your old one, then you will need cover for both properties until you exchange the property you are selling, at which point it becomes the buyer’s responsibility.  The good news is that you are probably only going to need double cover for the properties themselves since you will presumably have all your property and personal items in your main home and hence only need home contents insurance for that property. It’s important to understand your transit cover (if any) Your home contents insurance may offer some cover for goods in transit, for example, during a home move.  This protection may, however, be dependent on you using a professional removal company.  If you choose to move your belongings yourself, then you may wish to look at getting protection from another source.  If, on the other hand, you find your home insurance does not cover you for transit, but you were planning on using a professional removal company anyway, then you may find that they have their own insurance.  On a side note, similar comments apply if you need to put any of your belongings in storage.  Your home insurance may cover it but you would be wise to double check exactly what they cover, for how long and under what conditions. Use a move as an opportunity to update your home contents cover When you move, by definition you pack up everything you own (or at least everything you decide you want to take with you), which gives you the perfect opportunity to double-check that you have the right level of home contents cover in place.  Remember this can work both ways.  If you’ve recently invested in some expensive purchases, then you really need to make sure that you have insurance cover in place for them and that you’ve met all the conditions for cover (for example you may be required to list some items individually).  On the other hand, if you’ve had a declutter and have moved on a number of your former possessions, then you may find that you actually have more insurance cover than you need and can reduce it, possibly saving yourself some money. For building and contents insurance we act as introducers only.

You can buy just about anything on eBay, including a house.  Perhaps in the future, eBay will become a core marketplace for real estate in the same way as it has essentially become a core marketplace for pretty much everything else.  After all, auctions are already a recognised means of buying property in the UK, although at this point they process a relatively small percentage of transactions.  This, however, may change, as technology develops. The practicalities of buying a house The process of buying a house can be divided into three, broad stages: finding the right house, arranging financing and going through the purchase process.  To understand why so few houses are currently sold through auction, and why this might change in the future, it’s worth taking a look at each of these steps. Finding the right house First of all you have to choose where in the country you want to live and then you have to choose the particular house in which you want to live.  Then, you have to double-check that your initial assessment was correct.  In other words, you need to check not only that your judgement of the house’s physical condition was accurate, but you will also need to assess the house’s legal situation and, in particular, whether you may find yourself liable for further costs related to the property, such as ground rent on a leasehold property, or the costs of maintenance of a boundary for which you would be held legally responsible.  You might also wish to look into the general costs of running a property, in particular, insurance, part of the cost of which depends on the location of the property.  Thanks to the internet, more and more of this research can be done remotely, which, of course, benefits channels which are focused on remote sales.  It also benefits channels such as traditional auction houses, which rely on speed, since it makes it easier for prospective buyers to undertake their due diligence in the time between a house being listed as going to auction and the start of the auction itself. Arranging financing The fact that many home buyers require mortgages may be the single, biggest reason why home auctions are still a fairly niche way of buying property.  An auction contract is legally binding from the point of sale and, generally, buyers have to be ready to put down a deposit immediately and pay the rest within the specified term.  If they are unable to do so, then they are in breach of contract and may find themselves facing penalties for this.  Buyers who require financing would therefore either have to take the risk of applying for a mortgage after they have agreed to buy the property or agree a mortgage in principle before attending the auction.  Typically, however, mortgage lenders want some form of building survey undertaken before agreeing to lend money on a property and the cost of this would fall on the potential purchaser even though at that point, there would be no guarantee that they would actually be able to buy the house. The purchase process In terms of the actual mechanics of buying a house, there’s a fairly strong case for arguing that the auction process is simpler than sales through an estate agent.  A price is agreed, the gavel comes down and that’s an end to the matter.  Buyers have no fear of being gazumped in a seller’s market, sellers have no fear of being gazundered in a buyer’s market.  Chains are irrelevant so there’s no fear of a sale falling through because of one weak link in it.  Buyers simply have to remember to focus on fundamentals and not allow themselves to get carried away by “auction fever”. Your property may be repossessed if you do not keep up repayments on your mortgage.

As you go about your daily life, heading to work, to the shops, to your leisure activities, walking the dog, some parts of the world may seem very remote to you.  In fact, regardless of where you live, somewhere in the world is, literally, on the other side of the planet to you.  At the same time, we all share the same planet and so events which take place literally on the other side of the world can still have an impact on our lives.  With this in mind and following Trump's visit, here’s a quick round up of what’s going on in the UK and elsewhere. The UK Brexit continues to dominate the headlines, with issues relating to Northern Ireland frequently being mentioned.  It’s probably a safe bet that Brexit will continue to be major news both economically and socially, at least up until the terms of the UK’s withdrawal from the EU are agreed and quite possibly long after, while its impact is felt. Europe Brexit will have an impact on Europe too and there are other signs of interesting times on the continent.  Germany recently struggled to form a government and it remains to be seen how effective that government will be over the longer term.  At the present moment, Italy is still trying to form a government even though its last general election was two months ago.  France has been hit by strikes, which could potentially be seriously detrimental to the country’s economy if they continue into peak tourist season.  Spain is still dealing with a restive Catalonia and the EU is openly at loggerheads with some of its Eastern members, particularly Hungary.  It would be harsh to say that all is doom and gloom on the continent but it would arguably be very fair to say that life and economics on the continent of Europe is far from being a bed of roses. The Americas Starting from the North, Canada has finally managed to agree a trade deal with the EU, which may (or may not) be seen as a blueprint for a future deal with the UK. November 2018 sees the U.S. midterm elections in which all 435 seats in the United States House of Representatives and 35 of the 100 seats in the United States Senate will be up for the taking.  Expect a hard-fought battle as both sides vie for control of Congress. Mexico, Central America and South America all continue on their various paths, some showing more economic strength than others.  Mexico and Brazil both have elections later this year, which could significantly influence the region’s economic path. Asia Asia is home to three of the world’s largest countries, the Russian Federation (a fair part of which is in Asia), India and China, along with Japan, which is still an economic force and up-and-coming economies such as South Korea, Vietnam and the Philippines.  Several Asian countries are due to have elections in 2018 and more in 2019 so it will be interesting to see how events develop there.  On the plus side, there have been encouraging signs between North and South Korea. The Middle East and Africa Geographically speaking, this is a huge region with a very diverse range of economies in very different states of development.  At present time, there is a great deal of interest in Saudi Arabia, which is working hard to reduce its dependence on oil revenues by developing alternatives, such as tourism.  It has initiated three major new projects, Qiddiya, Neom and the Red Sea in an attempt to stimulate and broaden its economy.  Having said that, it is very much an open question as to whether it will be able to match the tourist appeal of the nearby UAE.

It is harsh but probably true to say that where there is a person who has money, there is very likely to be someone out there who wants to part them from it.  When an older person has the sort of money likely to be found in a pension pot then they can find themselves a very tempting target for scammers, all the more so since pensions freedoms were introduced and gave pensioners a wider range of choices about what to do with their hard-earned savings.  That means those with pension pots really need to stay alert to the possibility of scams in order to protect themselves. Start by cleaning up your digital life Over the years, you’ve probably left quite a trail of digital breadcrumbs all across the internet and it’s a good idea to do a regular clean up, as a minimum once a year.  Think of every online account you have as a window into your life, the fewer windows you have, the fewer windows you have to secure.  In other words, only keep accounts open if you actually use them, if you don’t, actually close them instead of just leaving them hanging around.  Then focus on the security of the accounts you have left, for example by creating strong passwords for them. Keep all your devices secure All your internet-connected devices need security protection.  This includes your smartphone and tablet, you can and should download anti-virus software for them and setting up a PIN and/or biometric identification on your mobile devices is definitely worth considering.  Just remember, while biometrics may be convenient, you need to touch your bare skin against the reader, whereas PINs can be entered with a special stylus or even “smart gloves”. Stay on top of physical data security By this point in time, you’re probably familiar with the practicalities of securing your home and car against the theft of physical items and these standard precautions will also help to protect your data.  At this point in time, however, you need to take these precautions a step further and start working to protect anything which relates to your personal data, so, for example, look at your mail and think about whether or not it needs to be shredded before being recycled.  If you buy a shredder, make sure it is one which can cross-cut (i.e. cuts horizontally and vertically) and if you don’t get enough mail to justify keeping a shredder, then scissors are fine as long as you cut the paper cross-ways and into small pieces. Be wary of unusual and/or unexpected phone calls On the phone we only have a person’s voice to guide us as to whether their intentions are good, bad or indifferent and we can feel, or be placed, under pressure to respond quickly.  Treat unknown callers with caution, even if they claim to be from an organisation you recognise such as your bank (which will have no need for you to confirm extensive personal details before speaking to you, just standard security questions) and do not let yourself be rushed into making hasty decisions.  As a final point, remember that if you hear a lengthy pause between you picking up the phone and a human speaking, it’s a massive pointer to you having been auto-dialled. Remember the golden rule, if it sounds too good to be true it probably is These days, the corollary to that old saying, is that if it sounds too bad to be true, it probably isn’t.  Some scams play on a desire to make money, but some play on fear of losing it or on fear of something happening to someone you love if you don’t give the fraudster your money. For pension and investments advice we act as introducers only.

Last year, the Bank of England’s decision to raise interest rates took the Monetary Policy Committee out of the financial pages and into the mainstream headlines.  Given that the raise took interest rates from 0.25% to 0.5%, it was hardly the sort of change to make savers jump for joy, but it was a warning flag for borrowers to make sure that they were on the best deal for their situation, or, more accurately, that their situation could be about to change and that they might need to be ready to adapt to that. From ultra-low rates and quantitative easing to…? From July 2007 to November 2017, the only way was down for UK interest rates.  The steepest drop came in the wake of the 2008 financial crisis, which saw interest rates plummet from just over 5% to 0.5% where they stayed until August 2016, when they were cut to 0.25% during the aftermath of the Brexit vote.  In short, therefore, last year’s rate rise has simply brought interest rates back to where they had been for near enough the past 10 years and nowhere remotely close to the levels seen before the 2008 financial crisis, let alone the sort of levels seen in parts of the 1970s and 1980s.  On the other hand, the fact that the Bank of England did raise interest rates was a reminder that it could and while interest rates have a natural floor (at 0% although, in theory at least, negative interest rates are a possibility and have been used in other countries), but positive interest rates can be raised indefinitely (again, in theory at least).  It all depends on the UK’s economic performance as measured through inflation. Interest rates and inflation The Bank of England (specifically its Monetary Policy Committee) is charged with keeping inflation at precisely 2%, however, it is accepted that inflation may move up to 1% in either direction.  If inflation goes below 1% or above 3%, the Bank of England is required to write an open letter to the Chancellor to explain why and what it intends to do about it.  The question, therefore, is less “what will the Bank of England decide to do” but “what will economic circumstances oblige the Bank of England to do”?  If inflation drops below 1% the Bank of England can opt to lower interest rates again and/or to use quantitative easing, however if it goes above 3% then it is difficult to see how the Bank of England can avoid raising interest rates, however this does not necessarily mean that mortgage-holders should take this as a sign to switch to a fixed-rate deal as soon as possible. Fixed rates can come at a price The first point to remember is that there will probably be some degree of cost involved in making any change to your current mortgage arrangements.  It is, therefore, important to do your sums carefully and make sure that the up-front costs are outweighed by the longer-term savings.  The second point to remember is that fixed-rate mortgages are, essentially, a means of “going long” on interest rates and locking in a deal at lower rates in the expectation that they will rise in future.  Lenders, however, will take into account the possibility of future interest-rate rises when they price the deals they offer and, as commercial organisations, accountable to their shareholders, they will aim to ensure that they turn in a profit even if interest rates go up.  Hence fixed-rate deals may not necessarily work out to be the cheapest option or at least not by much.  What they do offer, however, is certainty, since they ensure that mortgage repayments remain the same from one month to the next over the term of the fixed-rate deal and some people may find this certainty worth the money. Your home may be repossessed if you do not keep up repayments on your mortgage.

You only actually own a property outright if you buy it on a freehold basis (or buy a share of the freehold), in which case your money pays for the property and the ground on which it stands (and sometimes the ground around it).  If you buy a leasehold property then you simply buy the right to use that property for the term of the lease, you do not own it or the ground under it. The modern history of leasehold If we take modern history as being from the 20th century, then the modern history of leaseholding arguably starts in the 1920s when the UK was in a process of recovery from WWI and was already starting to see population growth.  Selling property on a leasehold basis was a win for landowners as it allowed them to earn what was largely a passive income from their land while still maintaining ownership of it.  The transition to the mid-20th century was marked by World War Two, after which there was a rush to construct new homes partly to replace those lost to bombing and partly to accommodate massive population growth.  These new homes were a mixture of houses and flats.  As a rule of thumb, the former were sold on a freehold basis and the latter on a leasehold basis as it allowed them to be managed centrally. The first, modern, leasehold scandal Modern leasehold hit the headlines back in the 1960s when it was discovered that (by then) elderly leaseholders were facing eviction as their leaseholds came to an end.  That could have been an opportunity for the government of the time to step in and put a stop to the practice of allowing property to be sold on a leasehold basis but it did not and not only did the leaseholding system continue, it began to be extended to houses as well as flats.  Periodically, issues with it have made newspaper headlines, sometimes causing governments to take some kind of action, such as to introduce the Leasehold and Commonhold Reform Act 2002, but fundamentally the leasehold juggernaut has continued rolling on, until now. The housing market and housing ministers Perhaps the main reason why nothing much has been done about the leasehold system is that the UK has had a total of 16 housing ministers in the last 20 years, of whom the longest-serving has been Labour’s Yvette Cooper, who lasted a grand total of 32 months and the shortest-serving was Alok Sharma, who lasted a mere 7 months.  With such a rapid turnover of ministers, it is, perhaps, hardly surprising that nobody has got around to dealing with the thorny issue of leaseholds, particularly since there are two sides to every story and both have to be managed. Leaseholds from a developer’s perspective Building new housing requires a lot of up-front investment and even though the UK has strong demand for housing, houses have to be priced realistically to sell.  What is more, getting planning permission for a new development may depend on a percentage of the houses built being sold as “affordable housing”, the cost of which has to be met in some other way. The reality for buyers In short, while it may well come about that the leasehold system is abolished at some point in the future, at the present time it is a reality, buyers have to understand.  That being so, it is strongly recommended that buyers take professional legal and financial advice before purchasing any property, particularly a leasehold property, so that they fully understand both the costs and legal implications of the contract, for example any restrictions on what they can do with their new home. Your home may be repossessed if you do not keep up repayments on your mortgage.

The mortgage landscape has certainly changed a lot since the days before the 2008 financial crisis.  Now the key word for both residential buyers and landlords is “affordability” and although the concept of affordability is defined in different ways depending on whether the buyer is looking for a property to live in or a buy-to-let investment, but in either case lenders now have a legal obligation to undertake reasonable checks to ensure that the prospective borrower, can, in fact, manage their mortgage over the long term, even if interest rates rise.  They also have an obligation to their shareholders to manage their businesses responsibly and, essentially, avoid getting into the sort of situations which led to some of their number having to be bailed out by public funds. Deposits make a difference There are two reasons why deposits make a difference.  The first is the fact that they protect the bank both from short-term fluctuations in house prices and from adverse changes in the borrower’s circumstances.  Essentially the price of the house has to fall below the sales price minus the deposit before the bank’s funds are at risk and the bigger the deposit, the lower the price can drop before the bank has to face the potential loss of its capital.  Secondly, quite simply, being able to save for a deposit indicates that you are able to save in general, which indicates both that you have disposable income and that you know how to manage it.  This, of course, is a very good sign for lenders. Building a deposit While there are lots of good reasons why lenders like to see large deposits, there are also lots of good reasons why people may struggle to put together the sorts of deposits lenders like to see, especially if they are having to pay rent as well.  The challenge can be particularly difficult for people living in parts of the country where housing prices are highest (such as London and the south east), especially for younger people at the start of their careers, who are unable to call on help from the “bank of mum and dad”.  This fact has been recognised by the government and has led to the development of a number of schemes to help first-time buyers, including the Lifetime ISA and the Help to Buy Scheme (not to be confused with the Help to Buy ISA, which has now been discontinued).  Both of these schemes (and other options), may be helpful in certain situations, but it is strongly recommended to take professional advice regarding them (or any other options) so as to be sure you understand how they work, their specific requirements and their advantages and disadvantages. Saving for a house At this point in time it is probably fair to say that for most people saving for a house will be a medium- to longer-term project and that as such it will need to be managed as part of an individual’s overall financial goals.  Placing disposable income into investments such as equities, which may generate returns far in advance of interest rates on cash deposits may help to grow a deposit more quickly, but individuals should always remember that such investments generally carry some risk of capital loss.  On the other hand, while cash deposits may preserve capital, they will only grow in line with interest rates and may struggle even to keep pace with inflation.  It is crucially important that people strike the right balance between growth and safety and this is an area in which getting the right professional advice can make all the difference. Your property may be repossessed if you do not keep up repayments on your mortgage.

Fundamentally, your credit rating is simply a reflection of how well you manage your money.  While the term “credit score” does infer debt repayments, these days, your credit score can be a broader reflection of how you manage your money more generally. It’s pretty near impossible to opt out of having a credit score If you’re familiar with data protection, you will be aware that you have a large degree of control over what information companies hold about you and with whom they can share it and it is true that, in principle, you can refuse to share your data with any company or to decline to give your permission for them to pass it on to third parties such as credit reference agencies.  In practice, however, if you do, then you have to accept the very real likelihood that companies will refuse to do business with you.  This could cause you issues not only with getting credit products such as mortgages but also in day-to-day matters such as getting a mobile phone contract. You actually have more than one credit score, but they all work in similar ways In the UK there are three major credit reference agencies (Equifax, Experian and CallCredit), each of which has their own system of working.  Having said that, the basic ideas underpinning these services are much the same.  They work with companies such as loan providers, providers of other forms of credit (such as store credit) and providers of contracts for services (everything from mobile phone contracts to gym contracts) and over time they build up a picture of how you manage your money, i.e. how responsible you are with it and how likely you are to repay credit or fulfil a contract. You have a fair degree of control over your credit score Even though it’s practically impossible to opt out of having one, you can exercise a fair degree of control over your credit record and it often makes good sense to do so.  You have the right to see your credit record and although there is generally a small cost attached to this, it can be to your advantage to pay it once a year or so to see where you stand even if you are not planning on applying for credit any time in the near future and if you are planning on applying for credit, particularly large-scale credit such as a mortgage, then it is usually a very good idea to double check the information a potential lender will see about you to ensure that it is all present and correct and to see what steps, if any, you can/need to take to improve it. Steps to improve your credit record Make sure all information held on file is current, complete and consistent. Do all companies have the same address on file for you?  Even if you haven’t moved, it may still be possible for the same address to appear in different formats, for example Flat 4F and Flat F4.  You also want to be on the electoral roll at the same address as you use for your bank accounts, loans and so forth. Hint - There are two versions of the electoral roll, the open register and the full version.  The open register is made available to anyone to buy (e.g. for marketing purposes) and the full version, which is only available to certain authorities (essentially the government, the police and credit-reference agencies).  You can opt out of the open register if you have concerns about being deluged by marketing material. Make sure all details are correct - mistakes do happen. Remember you are judged by the company you keep - in other words, if you hold a financial product jointly with someone else, their behaviour can influence how you are perceived.  This can have both advantages and disadvantages. Pay off and close down any unused credit lines For example, if you’ve been tempted to take out a credit card/store card for a special offer and have stopped using it since then, formally close it rather than just leaving it gathering dust physically and on your credit record.

The old joke about death and taxes being the only constants in life will probably ring particularly true to many people when it comes time to fill in tax returns.  The good news is that there are various forms of relief available to savers and investors, so a little judicious advance planning can go a long way to minimising the amount of tax payable.  Here is a quick run-down of some of the various forms of relief currently available. Tax relief on interest income Basic-rate taxpayers can now earn up to £1000 interest income tax free, while higher-rate taxpayers can earn up to £500 interest income tax free. Property allowance While not, strictly speaking, a savings or investment allowance, it may be worth noting that it is now possible for individuals to earn an income of up to £1000 on property without paying tax on it.  This is separate from the long-established “rent-a-room” scheme.  This could potentially make it more interesting for people to use their property to generate a small income in some way, although those investigating the AirBnB route may wish to check where their mortgage provider stands on this. Trading allowance On a similar note, it is now possible to earn up to £1000 income from trading without paying tax on it.  This may be of interest to anyone with skills they are interested in monetising in a small way. Dividend income allowance Currently investors can receive up to £5000 of dividend income without paying tax on it.  This is due to reduce to £2000 in the 2018/2019 tax year. Capital gains tax relief Individual investors can make a profit of up to £11.3K on the sale of investments before capital gains tax becomes payable.  Depending on their personal situation, investors may be able to make use of the fact that transfers of assets between spouses and civil partners are exempt from taxation and hence dividing an asset between two halves of a partnership can make use of both allowances. Individual savings allowances It can be easy to forget about the familiar, so here's a quick reminder to make the most of your ISA.  There have been a few additions to the ISA stable over recent years, one of which (the Help to Buy ISA) has ceased to be offered, so for the sake of completeness, here is a quick run down of the ISAs currently on offer as of 2017/2018 and the relevant allowances. Adults aged 18 or over can save a total of £20K into ISAs.  They can choose to put all of it into a Cash ISA, a Stocks and Shares ISA or an Innovative Finance ISA or they can choose to mix and match between the different forms.  Lifetime ISAs have special rules around them and savers can only deposit up to £4000 each year, which comes out of their total ISA allowance, in other words, they would only have £16K to deposit in other forms of ISA. Niche forms of tax relief Certain investors may be interested in some, more niche, forms of tax relief such as Enterprise Investment Schemes, Venture Capital Trusts and Business Property Relief (this last is one which may be helpful for people looking at estate planning).  Those interested in these options are highly recommended to get specialist advice since these areas can be higher risk. Overall Investments are generally best looked at as a whole with tax relief just being one factor to consider.  If an investment is fundamentally wrong for your particular situation, then the fact that attracts tax relief is unlikely to make it right and vice versa.  If, however, there are two similar investments to consider, then the question of tax relief may well factor into your calculations as to which one to choose. For Investments we act as introducers only

Life can get really hectic and one of the keys to staying on top of everything you need to do and to manage is to ensure that you have a place for everything and everything in its place and that, if at all possible, like items are kept together.  This principle often holds good in many areas of life, including taking care of your finances.  Seeking out the best products for your needs and wants may have left you with a range of investments with a variety of providers.  If you are in this situation, then you may find it helpful to start using a platform. Platforms might not be suitable in every circumstance, for example, not all funds might be available on the platform which you choose, and they might also be available elsewhere with lower charges. You should seek advice from a suitably qualified professional adviser, if you are considering using a platform. Platforms can help you to go in the right direction In financial terms, platforms are simply dashboards which allow you to view and manage all of your investment products from one place.  They offer several advantages over accessing each of your investments individually. Simplicity For many people, this may be the most compelling aspect of using a platform.  In these days of multiple online accounts with associated passwords, pins, security questions and card readers, it can be a blessed relief to consolidate different accounts into one convenient and secure location with one set of credentials to remember.  What’s more the user will only have one interface to learn rather than having to master the process required to perform what is essentially the same action on several different websites. Clarity Taking care of your pennies is a good start but pounds do actually need some care too.  At the end of the day, the small savings we make through thrift are made for a reason.  For some people that may just be ensuring that they can get through the proverbial rainy day but for others it may be for longer-term life goals, whether that’s a (first) home or a dream retirement.  Having everything “under one roof” can make it easier to see the overall picture and hence can help to make it clearer what you need to do to achieve your goals. Responsiveness Generally speaking, as people travel through life, their needs, wants and priorities change.  A person in their twenties may be looking to get on the housing ladder with their first starter flat, while a person in their fifties may already be planning ahead to where they will spend their retirement.  Sometimes these changes follow broadly familiar patterns, at other times, they may pop up unexpectedly in the form of a new challenge or a fresh opportunity (sometimes a situation can be both at once).  Keeping all your financial matters together can make it easier to react to changes in your situation, even unplanned ones. Transparent charging Charges are a fact of life with any service and while it’s fair enough that people (or companies) who provide you with a good service earn a reasonable fee for their efforts, it’s important that you can feel confident that you are getting good value for money.  You can only determine if charges are in line with your expectations if you actually know what they are.  One of the benefits of using a platform is that you will be able to see at a glance how much you will pay for any given action.  On a similar note, using a platform can help you to manage your tax matters as effectively as possible, for example by making it obvious how much, if any, of your annual capital gains tax allowance you have used.  In fact some platforms may allow you to record the value of non-investment assets such as property on them, which can be very helpful not only from the point of view of managing your immediate taxation liabilities but for general financial management and, ultimately, for estate planning. The Financial Conduct Authority does not regulate Estate Planning or tax advice. For investments we only act as introducers

A mortgage is a long-term commitment and has to be met regardless of any short-term issues with your income such as unemployment or being temporarily unable to work through illness or injury.  With that in mind, it’s worth looking at how you can be sure to make your mortgage repayments are made even if you face adverse circumstances. Only take on a mortgage in the first place if you’re sure you can manage it for at least five years The house-buying process is something of an anomaly in a world where people have become used to buying and selling products at the click of a button.  It’s slow and there can be a lot of up-front costs associated with it such as surveyor’s fees, legal fees (conveyancing) and stamp duty and that’s before you get to moving costs and the cost of furnishing your new home.  Homeowners also have to be realistic about the fact that the process of selling a home, even in a buoyant market can take much longer and be more stressful than just handing in a month’s notice on a rental contract and that letting out a property as a means to pay the mortgage while you are away from it may be a whole lot more complicated than it sounds.  In other words, think carefully before you commit to a house purchase in the first place, as a minimum you should be confident about paying your mortgage for the next five years. Keep your mortgage within your means This advice should be less relevant than it used to be since the Mortgage Market Review obliges lenders to look at affordability rather than just to headline income figures, but it’s still worth repeating.  Just because you can get a mortgage of a certain level, doesn’t mean you necessarily should.  Also, just because you can borrow from family and friends to put together a (bigger) deposit doesn’t mean you necessarily should either. Make sure you still have some cash savings When it comes to deposits it’s generally a case of the bigger the better, but using up all your cash in hand leaves you with nothing to fall back on in an emergency.  If at all possible, aim to keep at least three months of living expenses, including mortgage payments, set aside “just in case”. Look at life insurance Having life insurance may well be a condition of your mortgage but if it’s not and you have dependents then it’s strongly recommended to look into it anyway and even if you don’t it could still be beneficial if it allows you to make life less stressful for those left behind.  If you are only taking out life insurance to cover your mortgage, then you can reduce your level of cover as you pay back your mortgage. Consider some form of income-protection insurance In the context of ensuring that a mortgage continues to be paid even if you are experiencing adverse circumstances, there are three forms of insurance it is worth considering.  (Mortgage) Payment Protection Insurance is a form of insurance which guarantees that a specific credit commitment will be met if the claimant fulfils the relevant conditions.  These are usually accident, sickness and unemployment, hence its alternative name of ASU cover.  The self-employed may be able to get similar cover but without the unemployment clause or they may wish to look at the second option which is Income Protection Insurance.  This is much the same as MPPI except that the income may be used as you wish.  Your third option is Critical Illness Cover, which, as its name suggests pays out if you are diagnosed with one of a range of serious illnesses and, again, the payment can be used as you wish.