Newsletter July 2019
Consumer ‘demand for cash ISAs has increased’, report claims
The number of cash ISA products on the market has increased from 301 to 437 since the introduction of the personal savings allowance in 2016/17.
The personal savings allowance enables basic-rate taxpayers to receive up to £1,000 a year in tax-free savings income.
Talk to us at Herts & Essex Financial Services Ltd about your savings strategy. http://www.handefs.co.uk/our-services/investments-and-nisas
Existing homeowners boost mortgage market
Competitive mortgage rates fuelled an increase in the number of existing homeowners who took out new loans in the first five months of 2019.
According to e.surv, residential 65,801 residential mortgages were approved in May 2019 alone – up 1.2% year-on-year.
We at can arrange mortgage advice. http://www.handefs.co.uk/our-services/mortgages
Most gifters are ‘unclear on inheritance tax rules’
Most people making gifts of money or assets are unaware of inheritance tax rules that might apply to them.
Research of 2,090 people conducted on behalf of HMRC found that only 25% of those who recently made a gift had a ‘working knowledge’ of the rules.
Speak to us at Herts & Essex Financial Services Ltd to understand the rules on gifts. http://www.handefs.co.uk/our-services/estate-planning http://www.handefs.co.uk/our-services/taxation
More people downsizing to boost retirement savings
An increasing number of homeowners either in or nearing retirement are downsizing to fund a comfortable retirement.
Key Retirement’s reseach showed the number of homeowners selling up to pay off credit cards or loans hit 35% at the end of March 2019 – up 5% year-on-year.
Get in touch to discuss boosting your pension pot. http://www.handefs.co.uk/our-services/pensions
source: PracticeWeb July 2019
Herts & Essex Financial Services Ltd
Bancroft, Hitchin Tel: 01462 458863