NS&I puts Guaranteed Growth and Guaranteed Income Bonds back on sale after eight years

NS&I stopped selling Guaranteed Growth and Guaranteed Income Bonds in 2009, but they have recently announced that the one-year and three-year Bonds are available to the public once more. Eligibility The fixed-rate Bonds are available to people who are:   Aged 16 and over Investing a minimum of £500 and a maximum of £1 million Bonds can only be purchased online, through the NS&I website, although they can be managed via post, telephone and online. It is possible to jointly purchase these Bonds with another person, however, only the first named person will receive postal statements. The ...

Renting in retirement; is it really affordable?

Renting and retirement; two words that usually don’t appear next to one another. For most people, thoughts of retirement are accompanied by a number of concerns; the biggest usually being that the mortgage is finally paid off. Rarely does the notion of renting appear, but that is very much the case for an increasing number of people in the UK. It’s no secret that rising house prices mean that we are borrowing more and for much longer. The thought of still paying the mortgage in retirement is worrying enough, but how feasible is it ...

Bank of Mum and Dad: No repayments necessary

Bank of Mum and Dad No repayments necessaryLess than a third of parents who plan to lend money to their children in the future expect to be repaid. According to research from Prudential, many parents are giving substantial amounts to their adult children, without the expectation of being repaid in full (or anything at all). On average, people who have helped their children or grandchildren financially are owed £12,700, whilst 11% of parents have handed out loans in excess of £20,000. There are many reasons for parents to lend ...

Divorced women lose £5 billion in pension payments each year

Divorced women lose £5 billion in pension payments each yearThere is a correlation between being divorced and being less prepared for retirement, especially for women, research from Scottish Widows has shown. Whilst 12% of divorced men say they are unable to save anything toward their pension, that figure doubles to 24% for divorced women. Meanwhile, 40% of divorced women say their retirement prospects worsened after divorce, with just 19% of men saying the same. But why are women losing out on so much after the breakdown of a marriage? Women ...

Older but not wiser: 47% of baby boomers will never seek financial advice

Older but not wiser 47% of baby boomers will never seek financial adviceAlmost half of 54-71-year-olds have no intention of seeking financial advice, according to research from Dunstan Thomas. Of course, choosing to seek financial advice is a personal decision and there are some people who do just fine without it. However, the same research shows that those who do seek advice could be more than £13,000 better off each year, than those who make investment and saving decisions alone. Where do baby boomers get their information? 25% of baby ...

Autumn Budget 2017: Were you a winner or a loser?

Autumn budget 2017 winnners and losers Every Budget has winners and losers; with some people faring better than others. So, how did you fare? Read on as we reveal whether you are a winner or a loser after Philip Hammond’s second Budget of 2017. Winners First-time buyers Those buying a home for the first time will now benefit from the abolishment of Stamp Duty on homes up to the value of £300,000. To ensure that this can help first-time buyers in high value areas, such as London, ...

Autumn Budget 2017: Everything you need to know

Autumn budget 2017 everything you need to know The Chancellor, Philip Hammond rose to his feet at 12.38 to deliver his second Budget of the year. The days leading up to the Budget have been dominated by talk of housing, Universal Credit and, most surprisingly, rail cards. Mr Hammond started in a bullish and optimistic mood, saying: “I report today on an economy that continues to grow, continues to create more jobs and continues to confound those who seek to talk it down.” He then turned to Brexit, saying that the UK ...

Interest rate rise: How will it affect you?

Interest rate rise How will it affect you It’s taken more than 10 years, but it’s finally happened. The Bank of England has decided to increase interest rates with the Monetary Policy Committee (MPC) voting by 7-2 to increase base rate from 0.25% to 0.5%, principally in response to inflation hitting 3%. The rise was modest, not that you would have thought so from the acres of coverage it got, and only takes rates back to where they were in August last year. However, with inflation stubbornly above target, it is probably a ...

Self-employed pensions: Auto enrolment won’t catch everyone

Self-employed pensions Auto enrolment won’t catch everyoneAutomatic enrolment began in 2012 and the phase-in period for employers of all sizes is due to end in early 2018. But 4.8 million self-employed people have been left out. HM Revenue & Customs (HMRC) reports that the number of self-employed Britons who actively pay into a personal pension pot has fallen from 950,000 to just 350,000 between the 2006/07 and 2015/16 tax years. This means that 4.4 million people are either using an alternative saving method, or, more likely, failing to ...

Student loans: What’s changing and how will it affect students?

Student loans What’s changing and how will it affect studentsTwo big tuition fee changes have been announced. But what do they mean for students? Changes to tuition fees will affect young adults in your family; whether yourself, children or grandchildren. Opening the 2017 Conservative Conference, Prime Minister Theresa May announced plans to freeze tuition fees at the current limit of £9,250 per year. In perhaps bigger news, she also pledged that the minimum annual income needed to begin repaying student loans would rise to £25,000 per year, an increase of £4,000 on ...
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