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By Simon Hannam in Finance on 1st May 2001 0:00
Simon Hannam, consultant with Hopwood Ash can offer you helpful and friendly advice regarding:
Simon is no stranger to the world of sports turf with over 7 year experience in this industry and has empathy with those who work in it
PROTECTION - Your income supports your financial security. If your health prevents you working due to accident or illness, long-term incapacity benefit is £67.50 per week. Can you support yourself on this income or should you protect your earnings?
INVESTMENTS - The stock markets have shown they can fall as well as rise in recent months. Cash funds have been boosted as investors withdraw from the Equity markets. This flexibility can protect gains made when markets have risen. Remember in any 5 year period in history the Equity markets have out performed the building society.
PENSIONS - 6th April 2001 saw the introduction of Stakeholder Pension, aimed at the low to medium income groups. Have you carried out a pension review in the last two years to predict what you are likely to receive. Single persons basic old age pension is currently £72.50 per week, should you consider another income.
MORTGAGE - Bank of England rates have fallen recently and lenders are keen for re-mortgage business.Re-mortgaging could save around £90 per month for a £50,000 mortgage by moving to a 5% interest rate from a 7.25% interest rate, with no valuation or legal costs. Typical APR 7.1%. Broker Fees 0.25% of the loan amount.
Could this be your mortgage?
Could this saving help fund your extra Pension or Investment or Protection?
Written quotations upon request. Your home is at risk if you do not keep up repayments on a mortgage or other loans secured on it.
Simon Hannam, Independent Financial Adviser
The Hopwood Ash Financial Planning Consultancy
6 Oxford Road
Newbury
Berkshire
RG14 1PA
T: 01635 43515
F: 01635 31545
Email: simon@hopwoodash.co.uk
A member of Investment Strategies (UK) Limited which is regulated by the Personal Investment Authority. The PIA do not regulate mortgages and some aspects of protection.
Read more articles in Finance, by Simon Hannam or from May 2001.
