New Blog - Everything you need to know about the 2023 Autumn Statement

Posted by siteadmin on Thursday 23rd of November 2023

On 22 November 2023, chancellor Jeremy Hunt delivered the Autumn Statement against a backdrop of a cost of living crisis and a looming general election.

It’s been a challenging year with inflation dominating headlines. While inflation has fallen, it’s still higher than the Bank of England’s 2% target at 4.6% in the 12 months to October 2023.

Ahead of his speech, Hunt faced pressure to reduce the tax burden on both households and businesses while there was speculation about a potential Inheritance Tax cut, which didn’t materialise.

In his ...


The 2023 Autumn Statement: Winners and Losers

Posted by siteadmin on Thursday 23rd of November 2023

UK Chancellor Jeremy Hunt’s 2023 Autumn Statement outlined, in his words, “eight months of hard work” and no fewer than 110 measures to help grow the British economy. Contained within are a raft of measures set to overhaul everything from minimum wage and benefit payments to tax, business investment, and more. 

 

The Winners

Young and low-paid staff

Although the news was released ahead of the main statement, the announcement confirmed a large-scale increase to the national living wage, bringing the hourly rate from £10.42 to £11.44 (an i...


Autumn Statement - Key Highlights Blog

Posted by siteadmin on Thursday 23rd of November 2023

Reducing debt

  • The government is reducing debt and borrowing, with borrowing forecast to be lower this year, next year, and on average over the forecast period compared to the OBR's March forecast.
  • Underlying debt is also lower as a percentage of GDP, by an average of 2.1 percentage points across the forecast.
  • The government is on track to meet its debt and borrowing fiscal rules with greater headroom against both rules compared to spring.
  • The government has made available up to £14.1 billion for the NHS and adult social care and an add...

Should I consider private medical insurance?

Posted by siteadmin on Monday 13th of November 2023

Blog 1 - Should I consider private medical insurance image.jpg

Life can be full of surprises. You can’t be prepared for everything. You may have some insurance to support you financially if the unexpected happens, but have you considered how private medical insurance might offer you and your family the peace of mind you need if your health takes a turn for the worst?

A growing trend
According to data published by The Telegraph, close to half a million people have taken out private medical insurance over the past year, as NHS waiting lists hit record levels this autumn. According to government statist...


 

 

Protection.jpgCenturies ago, Benjamin Franklin announced that...

“By failing to prepare you are preparing to fail.”

This is especially true when it comes to ensuring your personal finances are protected from the rainiest of days. However, with the rising cost of living likely putting pressure on your spending, you may be considering cancelling your cover, even when this could leave you more vulnerable than before. Read on to discover some of the reasons you should consider prioritising your financial protection over other cost of living worries.

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5 ways saving little and often could help you grow your wealth

Posted by siteadmin on Wednesday 11th of October 2023

When it comes to investing your money, making small regular investments can provide more benefits than investing a lump sum.

Through regular investing, you can invest a small amount into the markets every month. Investing little and often is a great habit to develop and instil in younger family members. Instead of saving up a chunk of money to invest in one lump sum, investing this way can make a significant difference to your overall levels of wealth over the longer term.

One big benefit of investing a small regular sum is that, you’re pu...


Is now a good time to remortage as the Bank of England base rate stays the same?

Posted by siteadmin on Wednesday 27th of September 2023

Is now a good time to remortgage as the Bank of England base rate stays the same?

Whilst the Bank of England base rate remains the same, interest rates are still the highest they have been in 15 years. So if you are one of the thousands coming to the end of your fixed rate deal over the next few months it’s very likely you’ll see your payments increase as a result of higher mortgage rates but it’s a common misunderstanding that the Bank of England base rate is directly linked to the mortgage rates on offer. There are many factors that det...


 

Healthy benefits included for you and your family?

Now those are some little things that can make a big difference.

 

Protection policies aren’t just there for when things go wrong. Many protection insurers include access to a range of health and wellbeing support services – and you don’t need to claim to be able to use them.

These services can make everyday life that little bit easier. From knowing you can have immediate professional support if your child falls ill, to having the tools to keep tabs on your health, these servic...


Lenders encouraged to support struggling borrowers

Posted by siteadmin on Wednesday 5th of July 2023

Banks and Building Societies have been encouraged by Chancellor Jeremy Hunt to offer more flexibility to struggling mortgage holders. Following a meeting with the Chancellor, banks and building societies have agreed to offer more flexibility to borrowers impacted by increasing rates and struggling with payments, including:

  • Being able to talk to their mortgage lender about their ability to afford payments with it having no impact whatsoever on their credit score
  • Switching to interest-only for six months without impacting credit score
  • Imp...

Worried about mortgage lenders withdrawing their products and deals?

Posted by siteadmin on Thursday 22nd of June 2023