Wealth Management News

Base rate yet to have a significant effect on savers’ rates - 5 June 2018

The number of accounts paying returns over the base rate has dropped by 77 since the rate rose to 0.5 per cent in November 2017, according to the Moneyfacts UK Savings Trends Treasury Report. In its release the online publication

100,000 defined benefit pension holders transfer out in 2017/18 - 5 June 2018

A Freedom of Information (FOI) request made to The Pensions Regulator (TPR) has revealed that an estimated 100,000 members transferred out of their defined benefit (DB) pension schemes between 1 April 2017 and 31 March 2018. In its response to

Next 18-months will see thousands of interest-only mortgages mature - 5 June 2018

New figures from UK Finance have revealed that nearly 200,000 interest-only mortgages are due to mature over the next year and a half. Over the past six years, the number of homeowners on interest-only mortgages has fallen, with numbers declining

Workplace pension contributions more than double - 9 May 2018

The percentage of salary employers and employees must contribute to a workplace pension has increased from 6 April 2018. Employees will now contribute three per cent (up from one per cent) of their annual salary into a personal workplace pension,

Millennials’ pension saving falls - 9 May 2018

The total amount saved by millennials for their retirements fell between 2010 and 2016, despite a marked increase in the proportion saving for old age. Analysis of Office for National Statistics (ONS) data by Equinity found 35 per cent of

Cut to Stamp Duty benefits 70,000 first-time homeowners - 9 May 2018

Almost 70,000 individuals have benefited from average savings of around £2,300 since Chancellor Philip Hammond introduced a new Stamp Duty Land Tax (SDLT) relief for first-time buyers in his autumn 2017 Budget. Purchases of up to £500,000 by first-time buyers

Mortgage affordability hits record high not seen since the 90s - 4 April 2018

A new report from the Halifax shows that the amount of homeowners’ disposable income paid into a mortgage has shrunk to levels not seen since the mid-1990s. The bank said that said typical mortgage payments accounted for less than a

Thousands of parents and caregivers missing out on pension benefits - 4 April 2018

It has been estimated that as many as 100,000 pensioners and family members could be missing out on National Insurance Credits to top up their pension funds. Information obtained from a freedom of information request submitted to HM Revenue &

Women lose out financially due to lack of confidence, according to new report - 4 April 2018

Only one in three women describe themselves as very or extremely confident when it comes to their finances, according to a new survey by ISA provider Scottish Friendly. Their latest Disposable Income Index (DII) has revealed that while nearly half

The number of millionaire households is on the rise in the UK - 6 March 2018

The Office for National Statistics (ONS) has released a new report that shows that the number of UK households that could consider themselves as millionaires rose by nearly a third in just two years. Around 3.6 million households in Britain