Summer 2016 Newsletter
30 August 2016
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The impact of Brexit will have a marked effect on both the economy and what occurs within the mortgage sector over the ensuing months. Albeit, the basic fundamentals of the latter are still fairly sound, and recent initiatives from the Bank of England - such as the Bank Rate reduction to 0.25% - can only help to maintain confidence in the mortgage sector and stimulate the wider UK economy.
In this issue, as well as covering Brexit, we also consider your own specific needs - to move, get a better mortgage deal, raise more funds, jump onto the property ladder, or perhaps expand on what you already own, and set out how we can help.
Elsewhere, we remind you that it’s vitally important to have protection in place to help maintain an income stream should you be unable to work for any length of time. However, only one in five of us has Income Protection cover in place, yet a sizeable 42% have experienced income loss in their working lives due to serious illness.*
Much has been done over the last few years to support the First-Time buyer, and we flag a number of these initiatives. Also, we remind readers that a massive 58% of adults don’t have a Will in place - which could bring about a number of problems.**
We then set out how important it is for future borrowing needs to have a decent Credit Score, along with some tips on how you could improve (or maintain) yours.
Finally, with almost 47 adults, aged 18-44 dying every day, we remind readers that there is a specific life product - Family Income Benefit - to help protect the income stream of families with young children, should the very worst occur to a parent.***
We hope you find the issue of interest and once you’ve had a chance to look through, do pass it onto friends, relatives or work colleagues, if you think it may be relevant to them too - or we can send them their own copy.
You may have to pay an early repayment charge to your existing lender if you remortgage.
As with all insurance policies, terms, conditions and exclusions will apply.
* Zurich survey, July 2016
** unbiased.co.uk, October 2015 survey
*** Office for National Statistics, 2014 UK figures, released December 2015
Your property may be repossessed if you do not keep up repayments on your mortgage.