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First-time buyer boom ‘driving older borrower mortgage enquiries’


By Michelle Stevens

Mortgage advisers have seen a surge in enquiries from those aged over 55 looking for ways to help their children or grandchildren onto the property ladder, according to a new industry survey


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Over 60s ‘throwing away’ £1.75bn in retirement savings

Britons aged over 60 are missing out on up to £1.75bn in pension savings by opting out of their workplace pensions, according to new figures released by Royal London

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RIO borrowers ‘facing steep hike in interest rates’

Homeowners planning on taking out one of the new retirement interest-only (RIO) loans face paying a “shocking” premium for continuing to delay the repayment of their capital balance, according to Royal London

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Near term sales expectations in UK residential market slip deeper into negative territory

Near term sales expectations in the UK residential market have slipped deeper into negative territory

AFH announces acquisition of two IFA firms

The AFH Financial Group has completed the acquisitions of two IFA businesses – Mulberry Independent Financial Advisers and AE Garment Independent Financial Services
‘Lowest ever’ fixed rate lifetime mortgage hits UK market

The all-time lowest fixed interest rate for a lifetime mortgage has been launched in the UK by Responsible Lending

Foundation Home Loans unveils new five-year BTL fixes

Foundation Home Loans has announced the launch of two new five-year buy-to-let (BTL) fixed-rate mortgages, as well as a series of rate cuts across other products in its range

Think tank calls for savers and investors to pay more tax

The Institute of Public Policy Research Commission on Economic Justice is calling for a change to the way wealth is taxed.

It has suggested capital gains should be taxed at the same rate as income, and this would see tax rates on gains from share price rises hiked from 18% to 45% for higher rate taxpayers

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Inheritance tax receipts double in a decade

UK citizens paid £5.4bn in inheritance tax (IHT) in 2018/19, up 3% increase on the previous tax year, new HMRC figures have revealed

Falling house prices ‘could fuel IHT reclaims’

Families could claim back thousands of pounds in inheritance tax (IHT) following the latest slump in house prices, a financial advice firm has highlighted

Labour to back new financial transaction tax

Shadow chancellor John McDonnell has indicated that the Labour party would propose a new financial transaction tax to raise money for the Treasury

Inheritance tax rules ‘causing mass confusion’

Four in ten people do not know how much money can be passed on inheritance tax free in the UK, new research from Zurich has found

Advisers ‘should record client interactions’ FCA suggests

Financial advisers should consider recording client interactions to help both in the event of a complaint and in understanding their clients’ needs better, an FCA director has advocated

Advisers warned to take action as trust registration deadline looms

Advisers should be urging their clients to check if any trusts they hold are registered in order to avoid an unintentional fine, WAY Investment Services has cautioned

High Court makes ruling in ‘dementia will’ inheritance case

A son has lost a three-year court battle with his three siblings over his mother’s will, after a judge decided that her dementia symptoms had not adversely affected her capacity to set out her final wishes

Finance regulator ‘should not move backwards on MMR’, lenders say

The mortgage market does not want to see the FCA rowing back on the commitments it made in the Mortgage Market Review (MMR) around the need for advice, a leading group of lenders has said

RBS appoints Alison Rose as its new chief executive

The Royal Bank of Scotland Group has named Alison Rose as its new CEO, set to take over from Ross McEwan on 1 November

Lloyds hit by £1.8bn fresh PPI costs

Lloyds Banking Group faces an extra bill of up to £1.8bn, covering claims for the mis-selling of Payment Protection Insurance (PPI)

Mobile banking needs to be more accessible for over 65s

Banks need to invest in their mobile banking channel to make it more mainstream, according to GlobalData

Personal insolvencies growth rate shows ‘few signs of slowing’

The growing number of individuals entering a personal insolvency procedure displayed “few signs of slowing” as the rolling twelve-month insolvency figure continued to rise, representing the highest second quarter figure since 2010

80% of savers underestimate retirement income requirement

Four out of every five (80 per cent) savers underestimate how much money they will need to save to see them through retirement, according to research from Scottish Widows

Sustainable withdrawal rates vital to success of income drawdown

Keeping income withdrawal rates within sustainable levels is crucial to the long-term success of income drawdown portfolios, according to Royal London

British expats promised state pension uprates until 2023 in no-deal

British expatriates in EU countries will continue to have their state pensions uprated in a no-deal Brexit scenario, the government said over the weekend

‘Income tax winners’ would be ‘pension tax relief losers’ under Johnson

Increasing the higher rate income tax threshold from £50,000 to £80,000 would create “income tax winners” for those earning above £50k, but pension savers earning between these two values “will need to swallow the loss of higher rate pensions tax relief or take a 25% cut in future pension”, Aegon has said

BoE’s MPC votes unanimously to maintain Bank Rate at 0.75%

The Bank of England’s MPC has voted unanimously to maintain the Bank Rate at 0.75%

Record number of Brits seeking debt advice, leading charity says

A record number of people have contacted StepChange for help with their debts this year, the UK’s largest debt advice charity has revealed

AFH continues expansion with Broadleaf acquisition

Broadleaf Financial Services has been bought by the AFH Financial Group, the two companies have confirmed

Home ownership ‘still a priority for younger generations’

The vast majority of young Britons would still prioritise buying a home over renting one, research collated by Share to Buy has shown

Moving Hub and Property Jungle announce tech link-up

Conveyancing platform and case management system The Moving Hub has partnered with The Property Jungle, a provider of bespoke and template property websites

Conveyancing Association responds to digital identity consultation

The Conveyancing Association (CA) has outlined issues around ID checks in the home buying process in its response to the government’s consultation on digital identity

Wealth management sector ‘needs to digitise to remain relevant’

Major digitisation of the wealth management industry is needed if traditional sector players are to prosper in the future, a new report has claimed

Digital banks set to treble customer base in next year

British digital banks such as Revolut and Monzo are set to treble their number of customers in the next year, as the challengers increase their efforts to complete against high street rivals and disrupt the retail lending market

Tilney and Smith & Williamson announce £652m merger deal

Investment and financial planning group Tilney is to merge with professional services and accountancy firm Smith & Williamson

UK house prices see lowest annual growth in 7 years

UK house prices have seen their lowest annual growth in seven years

eKeeper partners with Optimus to integrate conveyancing into broker CRM

eKeeper has partnered with Optimus to streamline its conveyancing process with the latest release of its broker-CRM solution, used by over 400 regulated broker firms

Dynamo for Intermediaries adds Bluestone Mortgages to lender panel

Bluestone Mortgages has today announced its latest distribution partnership with Dynamo for Intermediaries, with the club’s members now able to access Bluestone’s product range

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Specialist FTB and BTL markets
Adam Cadle talks to Vida Homeloans director of sales - mortgages Louisa Sedgwick about the specialist first time buyer and buy to let markets

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