Ipswich Financial Adviser

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The Bank of England kept interest rates at 0.5% for a further month after their meeting yesterday. It is now over a year since the Bank of England Base rate has been at 0.5%.

Inheritance tax issues can be a worry to people. There are some simple financial planning techniques that can be used to help eliminate or reduce the possibility of this tax being charged on death.

Once of the simplest ways to help the situation is to write a will. With a well written will, it not only ensures you wishes are carried out on your death but will help with the reduction or elimination of a possible inheritance tax bill.

If you would like help or advice in writing a will we have excellent contacts with Solicitors and will writers that would be able to write an inheritance tax friendly will for you.

Please contact  Thompson Financial Consulting and we will help you make the most of your money

An annuity is the financial product that you purchase with your pension money at retirement. The annuity pays you a guaranteed income for the rest of your life. You can buy additional benefits for your spouse and have other features added to the annuity when you first take it out.

Your current pension provider will offer you an annuity when you reach your stated retirement age, but BEWARE; the offer from your existing pension provider is invariably a poor one.

YOU MUST, shop around for the best annuity rate you can find in the open market. By doing so you will increase the amount of guaranteed income you will have in retirement, a VETY important factor.

Also, it is vitally IMPORTANT, that you tell the annuity provider about your medical background . If you suffer from high cholesterol, diabetes, smoke, take medication, have suffered previous illnesses or have a current medical diagnosis of a complaint (however irrelevant they seem to you), any of them may provide you with an Enhanced Annuity. This means the provider will pay you MORE income as you have a past or current health issue.

As can be seen it is vital to get the best advice when you purchase an annuity. Speak to the experts at Thompson Financial Consulting Ltd and we’ll ensure you get more money in your pocket.

If you are a First Time Buyer, Re-mortgaging or a Home mover you need to make sure you are aware of any hidden costs that may be payable when you apply for your mortgage.

Lenders, for a long time, have had arrangement fees; usually any thing from a few hundred pounds up to 3% of the mortgage amount. However, I am now seeing completion fees being charged, up front, as well. These are usually in the region of £250. This is something to bear in mind when comparing different lenders.

Also,  the arrangement fee needs to be looked at VERY carefully. This is because, you may get a very competitive interest rate with a large arrangement fee attached to it and this can look very appealing. There is a sting in the tail though, that if your mortgage is not large (typically in excess of £250,000) then you will actually being paying more for your mortgage overall with the high arrangement fee product. The better option would be to take a slightly higher interest rate product with a lower arrangement fee. This will mean that  overall, you will actually pay less for your mortgage. Again, this is a very important point to check out and compare when looking for your new mortgage product.

As can be seen, there are ways that you could end up paying a lot more for your mortgage without realising it. Talk to the experts at Thompson Financial Consulting and we will ensure you get the right mortgage deal.

Your home may be repossessed if you do not keep up repayments on your mortgage.