Newsletter December 2020
Mortgage payment holidays extended for up to six months
Mortgage payment breaks have been extended for homeowners who are being financially affected by the ongoing pandemic.
Get in touch with us at Herts & Essex Financial Services Ltd to discuss your finances. http://www.handefs.co.uk/
Bank of England expects UK economy to shrink 2% in Q4 2020
The Bank of England froze interest rates at a record low of 0.1% amid fears the UK economy will shrink 2% in the fourth and final quarter of 2020.
Talk to us about the economy.
Pension withdrawals slump in Q3 as caution reigns supreme
Over-55s resisted the temptation to raid large sums from their pension pots as average withdrawals fell 7% in the three months to 30 September 2020.
Figures from HMRC showed the average amount withdrawn in July, August and September 2020 was £6,700, down from £7,200 year-on-year.
Speak to us at Herts & Essex Financial Services Ltd about your pension. http://www.handefs.co.uk/our-services/pensions
COVID-19 vaccine and US president-elect see markets rebound
Stock markets rocketed following news of a potential COVID-19 vaccine and US President-elect Joe Biden winning the race to the White House last month.
Hopes of a vaccine revived investor appetite for airlines, hotels, energy firms and others hit hardest by coronavirus, with some shares up by more than 40%.
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Source: Practiceweb December 2020