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Archive for the ‘8 Money Matters’ Category

In this issue David Foot makes some observations on the current financial climate and the circumstances that affect it.

The first thing to note is that volatility has returned, to a fair degree, in world markets. As I have said before, a degree of volatility is not a bad thing: it provides buying opportunities for investors and Fund Managers, where they can buy some appropriate stocks at discount prices. (more…)

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In this article David Foot addresses the issue of interest-only mortgages, and, more specifically, a shortfall of funds with which to repay them when they fall due.

This is inspired by a case that I have been dealing with recently. My client, a lady in her mid-forties, was sold an endowment mortgage; an interest-only borrowing facility with a life assurance and savings plan alongside, intended to provide the requisite life cover, and a tax-free lump sum enough to repay the borrowed amount, and, hopefully, a tidy little nest-egg over and above that.  (more…)

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A little departure from the norm this issue. A subject that has become increasingly popular of late, and will continue to do so, especially as the provision of first-rate occupational pensions is becoming less commonplace, and contributions into personal arrangements are generally somewhat inadequate. This is the thorny subject of ‘Equity Release’ or ‘Lifetime Mortgages’. Much has been said about such arrangements over the years, a fair amount of which was ill-informed, and some, pure sensationalism. I hope to shine a little light on these products, so that you may have a better idea of the realities (and fallacies) of the arrangements that are available these days. (more…)

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With the exception of the small (and much expected) rise in UK interest rates, almost nothing has changed since my last article, and that was written as a result of there not being a great deal to talk about! In the last two months since that article, there have been the usual spats between the President of the United States and Kim Jong Un. The Brexit negotiations are still grinding on, with little or no visible progress, and no signs of any joined-up thinking on the matter. (more…)

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For my piece, or the greater part of it this month, I will be taking you back to the 1680’s. Why, you may ask, and with good reason. Basically, because there is only so much one can say regarding the current economic climate; and I thought it might be interesting to have a look at something rather different. (more…)

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Greetings, Noble Readers of Whistler-shire. Firstly, an update on my column from the last issue. My friend’s Macmillan Cancer nurse (wonderful people) contacted his mortgage lender, on his behalf, and advised them of his circumstances. His mortgage was approaching the end of its term, and he had been forced to spend his savings – with which he intended to redeem the loan – on other essential expenses. They have agreed to extend his mortgage, on an interest-only basis, allowing time for his treatment, and in the fullness of time, a change to Equity Release. Should things not go as well as hoped, the value of his property is significantly higher than the outstanding debt. A great weight off his mind, he can concentrate now on getting well. (more…)

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