When your current mortgage deal comes to an end, your lender will usually offer you a new interest rate to encourage you to remain with them. This is often called a “product transfer”.

While choosing this option does have some advantages, you could be missing out on a more competitive deal that may save you money. Read on to discover the pros and cons of a product transfer.

Mortgage deals will typically last for two, three, or five years. Once the deal ends, you’ll normally have three options:

1. Stay with your current lender using a pro...

New research suggests more people will be living with a major illness in the future and it could place pressure on health services. It may also have implications for household finances over the long term.

A report from the Health Foundation's REAL Centre suggests 9.1 million people will be living with a major illness by 2040 – 2.5 million more than in 2019.

The four-year study analysed 20 health conditions and projected how their prevalence would change. Researchers expect 19 out of the 20 health conditions to affect more people by 2040,...

Research suggests almost a third of households are already worried about meeting their mortgage repayments. Now, the Bank of England (BoE) has warned that millions of households could see a significant jump in their repayments by the end of 2026.

Read on to understand if your finances could be affected and what your options are.

According to a BBC report, the BoE has said mortgage holders “may struggle with repayments” following consecutive base interest rate rises, that have been made in an effort to lower high inflation.

In December 2...

When you apply for a mortgage, you’ll agree to a time frame for repaying the loan. It’ll affect how much your monthly repayments are and the total interest you pay. Exploring your options and taking some time to understand the time frame that’s right for you could be important.

The mortgage term is simply how long you’ll repay your mortgage. If you choose a repayment mortgage and keep up with repayments, at the end of the term, you’d own your home outright.

Traditionally, first-time buyers took out a mortgage with a term of 25 years. How...

Globally, signs suggest the pace of inflation is slowing. However, businesses in some sectors are struggling and weighing on economies. Read on to discover some of the factors that affected investment markets in August 2023.

According to a Purchasing Managers’ Index (PMI) from JP Morgan, reports indicated that manufacturing in Asia, Europe and the US is contracting. New orders declined for the 13th consecutive month, which could have medium-term consequences for investment markets.

When reviewing your investments, remember to take a long...

Over the last few months, you’ve read about the potential benefits of investing, what to consider when creating a risk profile, and how you could improve tax efficiency.

Now, read on to discover why reviewing your investment portfolio is a crucial part of managing your assets over the long term.

Reviewing your investments too frequently could encourage short-term thinking

Reviewing your investments provides an opportunity to ensure your portfolio still suits your needs and understand whether you’re on track to meet your goals. So, how ...

While the State Pension may not be your main source of income in retirement, it’s often an important one. If you’re not on track to receive the full amount, there might be things you could do to boost it.

For 2023/24, the full new State Pension is £203.85 a week, adding up to around £10,600 a year. However, your National Insurance (NI) record will affect the amount you receive.

To claim the full new State Pension, you’ll usually need 35 qualifying years on your NI record. If you have between 10 and 35 years, you’ll normally receive a pro...

When you think about the benefits of financial protection while you’re taking out a mortgage, you could be overlooking one of the most valuable aspects – it could support your mental health.

It’s common to review your financial resilience when taking out a mortgage. After all, it may be one of your largest financial commitments. Having a financial safety net to fall back on when the unexpected happens could be invaluable.

Appropriate financial protection may pay out if you are diagnosed with a critical illness or couldn’t work due to an ...

Trusts can be an incredibly useful way to pass on wealth and preserve assets. Yet, there’s a common myth that they’re only valuable for very wealthy families. Read on to discover why a trust may make sense for you.

A trust is a legal arrangement that you could use to pass on assets.

The trust would be set up so that a person or people, known as the “beneficiaries”, would benefit from the assets. A trustee would manage the assets on behalf of the beneficiaries. You can choose to name more than one trustee.

You could place a range of asse...