Thousands with ‘pension mortgages’ could be in for a nasty shock

iStock_000008866095_ExtraSmallNew figures from the British Bankers Association (BBA) show thousands of people are planning to use their pension to repay their mortgage. But, possible future changes to pension legislation, could leave these borrowers with no way of repaying their mortgage, potentially causing financial hardship in retirement. The BBA’s figures show just over 2.5 million interest-only mortgages outstanding in 2012, down from over 3.5 million at the height of the housing boom in 2007. However, the number of pension mortgages has ...

Business: 6 personal finance tips for small business owners

For most small business owners the health of their personal finances is closely linked to those of their business. When business is good your personal finances will look good, conversely when trading is tough your personal finances might take a hit. Based on discussions we have with our clients who run small businesses we’ve put together six tips for business owners to help keep both your personal and business finances healthy. 1.    Get your income strategy right Are you a business owner looking ...