News & Blogs

You might have heard that you can now take out some of your pension once you hit 55. But is this a good idea? David Mount, Brookson Financial MD, can help you decide.

Since April 6th, 2015, those over 55 have had more freedom over what they do with their pension savings. While you could always take out up to 25 per cent of your pension fund at this age, now there are a range of other options you can take to improve your financial situation once the time comes to retire.

Although the UK employment market is changing, and the number of contractors is increasing, lending criteria applied by many providers is lagging behind. If you approach a lender for a mortgage directly you may experience the ‘computer says no response’ when a lender assesses an application. Contractor mortgages can be hard to secure directly from typical ‘High Street Lenders’ simply due to how they assess and verify income, which is why many turn to a specialist provider who tailor their services to suit the needs of the contractor.

On the 2nd August 2018, the Bank of England raised interest rates for only the second time in a decade, taking the base rate up to 0.75 percent. This means that the 3.5 million borrowers who are on variable and tracker mortgages could see their monthly bills go up as lenders look to pass on the costs*.