Newsletter July 2018
One in three underestimate wait for inheritance
More than a third of people underestimate the time it might take to receive their inheritance, according to research from Co-op Legal Services.
In a survey of 2,000 UK adults, 37% said they expect to wait between four and six months to receive their inheritance following the death of a loved one.
Talk to Herts & Essex Financial Services us about planning your estate -http://www.hertsandessexestateplanning.co.uk
Parents lending less to help homebuyers
Parents who contribute financially towards property purchases for their children are lending less, a report from Legal & General shows.
The Bank of Mum and Dad (BoMaD) is set to help fund 316,600 house purchases in 2018 – an increase of around 6% compared to 298,300 in 2017.
Contact us at Herts & Essex Financial Services to discuss your finances.
Tenants face ‘pension mountain’ to maintain living standards
Tenants who are unable to afford to buy their own home will require a pension pot of £445,000 in retirement.
Analysis from Royal London claims those who will still be paying rent to a private landlord when they retire need to save a “pension mountain” to sustain their existing living standards.
We can help plan your retirement.
Lack of financial protection puts households at risk
Many UK households are under-protected in the event of serious illness, Scottish Widows warns.
A survey of 5,022 UK adults found that more than a fifth (21%) of households wouldn’t survive financially if they unexpectedly lost their main income.
Get in touch with Herts & Essex Financial Services for financial advice.
Source: PracticeWeb July 2018
Herts & Essex Financial Services
Tel: 01462 458863