Got an offer accepted on a first house today. Have to tell someone as my gf is at work and can't answer the phone and I want to tell her first, but i'm sure you guys will keep the secret
Got an offer accepted on a first house today. Have to tell someone as my gf is at work and can't answer the phone and I want to tell her first, but i'm sure you guys will keep the secret
Got an offer accepted on a first house today. Have to tell someone as my gf is at work and can't answer the phone and I want to tell her first, but i'm sure you guys will keep the secret
If you need mortgage advice you know where to come....😉
Quick Qs for the more financially astute folk in this thread... and apologies if it's a bit basic.
Mortgage has just come up for renewal, it seems to me like it's a good time to go for a long-term fixed rate given that the base rate was a vote away from going 0.25% higher and it's trending up. Would you go for as long as 5 years fixed or is that a bit extreme? There's no real risk of downsizing etc.
Quick Qs for the more financially astute folk in this thread... and apologies if it's a bit basic.
Mortgage has just come up for renewal, it seems to me like it's a good time to go for a long-term fixed rate given that the base rate was a vote away from going 0.25% higher and it's trending up. Would you go for as long as 5 years fixed or is that a bit extreme? There's no real risk of downsizing etc.
Really depends on what you have going on over the next 5 years. Most of my clients have preferred a 5 year fixed than one over 2 or 3 years but you have to decide what's best for you. The fees might have a bearing on what you want to do - most are £999 but some lenders have their best rates at £1499 and their worse ones at £499 or even £0 - so remortgaging every 2 years could cost you a grand every time. Other thing to consider is do you stick with your current gender and just do a "rate switch" or "product transfer" or so you switch lenders completely & remortgage. Most lenders offer a free valuation / solicitors fees but a remortgage takes time (and effort) unless you employ a broker 😉.
As it is the market has factored in another 3 rate rises this year (4 in the US) although one investment house said yesterday that they think this is over estimating things & that Quantitative Tightening may put the brakes on too many rate rises this year.
The long term view is that the base rate will be around 2.5% to 3% by 2030.
Quick Qs for the more financially astute folk in this thread... and apologies if it's a bit basic.
Mortgage has just come up for renewal, it seems to me like it's a good time to go for a long-term fixed rate given that the base rate was a vote away from going 0.25% higher and it's trending up. Would you go for as long as 5 years fixed or is that a bit extreme? There's no real risk of downsizing etc.
I went for 5 years (Thanks Golfie :-/:smile:) but got in last year when 5 year fixes were sub 1%, was a no brainer at that rate. The 5 years are now over 1.5%, 2 years a bit over 1%.
Do the math and include fee's, I'd work on the basis that a 2 year fix in 2 years time will be 1.75-2%.
Quick Qs for the more financially astute folk in this thread... and apologies if it's a bit basic.
Mortgage has just come up for renewal, it seems to me like it's a good time to go for a long-term fixed rate given that the base rate was a vote away from going 0.25% higher and it's trending up. Would you go for as long as 5 years fixed or is that a bit extreme? There's no real risk of downsizing etc.
Really depends on what you have going on over the next 5 years. Most of my clients have preferred a 5 year fixed than one over 2 or 3 years but you have to decide what's best for you. The fees might have a bearing on what you want to do - most are £999 but some lenders have their best rates at £1499 and their worse ones at £499 or even £0 - so remortgaging every 2 years could cost you a grand every time. Other thing to consider is do you stick with your current gender and just do a "rate switch" or "product transfer" or so you switch lenders completely & remortgage. Most lenders offer a free valuation / solicitors fees but a remortgage takes time (and effort) unless you employ a broker 😉.
As it is the market has factored in another 3 rate rises this year (4 in the US) although one investment house said yesterday that they think this is over estimating things & that Quantitative Tightening may put the brakes on too many rate rises this year.
The long term view is that the base rate will be around 2.5% to 3% by 2030.
Thanks v much, appreciate the info (I put 'advice' but then pictured sirens going off in the FCA office). Will have a think and then decide to pour my money into Crystal Palace crypto instead...
Got an offer accepted on a first house today. Have to tell someone as my gf is at work and can't answer the phone and I want to tell her first, but i'm sure you guys will keep the secret
Congratulations, on the other end of the scale I just sold a house my Dad purchased in 1975, good old bricks and mortar.
Quick Qs for the more financially astute folk in this thread... and apologies if it's a bit basic.
Mortgage has just come up for renewal, it seems to me like it's a good time to go for a long-term fixed rate given that the base rate was a vote away from going 0.25% higher and it's trending up. Would you go for as long as 5 years fixed or is that a bit extreme? There's no real risk of downsizing etc.
I went for 5 years (Thanks Golfie :-/:smile:) but got in last year when 5 year fixes were sub 1%, was a no brainer at that rate. The 5 years are now over 1.5%, 2 years a bit over 1%.
Do the math and include fee's, I'd work on the basis that a 2 year fix in 2 years time will be 1.75-2%.
Bloody HMRC… I have a Lloyds staff mortgage start of tax year 21/22 balance about £49,000. HMRC declared interest rate is 2.25% so they say anything I have under that is a taxable benefit. I have been paying 0.1%. So roughly on my £49000 they say I should pay £1102. I actually paid £49, so a benefit of £1053. My Tax code has deduction of £1546.
Now last year I paid off £6,000, so going into next Tax year balance is about £43,000.
HMRC have given me a tax code for 22/23 that has a deduction of £1546 for my beneficial loan.
So last year it should have been £1053, pay off £6000 an HMRC make it £1546.
So on a look back HMRC have deducted £1546 from my code for 2018/19 2019/20 2020/21 2021/22 an now trying for 2022/23.
SO ANYONE WITH A STAFF RATE MORTGAGE TAKE A LOOK, YOU COULD BE OVERPAYING HMRC….
HMRC are utter shit. Excuses for everything, can't get a lot of the basics right EVEN WHEN YOU TELL THEM ON THEIR OWN FORM. Dont give me "but Covid" as an excuse, other organisations have managed not to be crap, but they slowed right down and carried on making the same mistakes as always. And yet send one thing to them in seconds late and they're issuing penalties like confetti. Bastards.
Bloody HMRC… I have a Lloyds staff mortgage start of tax year 21/22 balance about £49,000. HMRC declared interest rate is 2.25% so they say anything I have under that is a taxable benefit. I have been paying 0.1%. So roughly on my £49000 they say I should pay £1102. I actually paid £49, so a benefit of £1053. My Tax code has deduction of £1546.
Now last year I paid off £6,000, so going into next Tax year balance is about £43,000.
HMRC have given me a tax code for 22/23 that has a deduction of £1546 for my beneficial loan.
So last year it should have been £1053, pay off £6000 an HMRC make it £1546.
So on a look back HMRC have deducted £1546 from my code for 2018/19 2019/20 2020/21 2021/22 an now trying for 2022/23.
SO ANYONE WITH A STAFF RATE MORTGAGE TAKE A LOOK, YOU COULD BE OVERPAYING HMRC….
No one is forcing you to have a staff mortgage. You could easily re-mortgage to a different lender & not incur any BIK.
Also checking your tax code is your responsibility.
I never inferred anybody was….. I can pay the thing off tomorrow. However, as a financially astute man, I would think you would agree. That my low rate, even with BIk, costs less than I can invest the mortgage money for. I make money out of keeping it.
The point I was making was that HMRC are able to get even the most obvious maths wrong. An that we should as you say NOT trust them to get it correct.
I never inferred anybody was….. I can pay the thing off tomorrow. However, as a financially astute man, I would think you would agree. That my low rate, even with BIk, costs less than I can invest the mortgage money for. I make money out of keeping it.
The point I was making was that HMRC are able to get even the most obvious maths wrong. An that we should as you say NOT trust them to get it correct.
There is a great line from Sir Humphrey Appleby is Yes Prime Minister when they are discussing tax.
He says the Treasury doesn't work out what they need in regard to spending & then decide how they are going to raise it.....but simply tax as much as they can & then decide how to spend it.
HMRC benefit from taking as much as possible & then you have to fight to get it back if they get it wrong.
Ok...so Putin has started his war and God help the Ukrainians. Hopefully it won't escalate into a full blown world war. In the meantime the stock markets are plummetting globally. Now the question is...has anyone any advice on if now is a good time to buy...? Or do we think it's going to keep going down - any thouights?
Ok...so Putin has started his war and God help the Ukrainians. Hopefully it won't escalate into a full blown world war. In the meantime the stock markets are plummetting globally. Now the question is...has anyone any advice on if now is a good time to buy...? Or do we think it's going to keep going down - any thouights?
No harm throwing a bit of money into the markets. Year to Date Europe, US & Japan are down almost 12% with the UK down around 4%. Hong Kong is down less than 2%.
They say buy on the dips - no one knows where the market is going short term but long term it will recover. Could put in a chunk now & wait & see. Depends on how much you have to invest & how long you have until you need it out again. We are coming to the end of the tax year & so I have a few clients looking to max out their ISA's so not a bad time to put in £20k - if you have it of course.
Not going to disagree too much with Golfie but oil at $103 (and gas futures up 33% today!), economic growth will be lower than previously forecast. Most companies worth worth less than they were probably. Could be a bumpy ride
I'm 60, my pension fund is split cash 45%, bonds 15%, equities 40%. All invested in Fidelity/L&G funds. I don't often switch it around. Looking at recent volatility is my equity exposure a little high? I'm not looking to touch the fund for at least 5 years. Any sensible advice welcomed. I do top it up each year to the max, normally the cash portion, and work still pays in. Cheers.
I'm 60, my pension fund is split cash 45%, bonds 15%, equities 40%. All invested in Fidelity/L&G funds. I don't often switch it around. Looking at recent volatility is my equity exposure a little high? I'm not looking to touch the fund for at least 5 years. Any sensible advice welcomed. I do top it up each year to the max, normally the cash portion, and work still pays in. Cheers.
I would say that you are over invested in cash, but seeing as your Bond portion is relatively low then I'd say you're about right, although still a bit underweight in equities. A lot of Bonds are giving negative returns atm so holding cash is probably a sensible ploy......but not for too long. You should have bought equities yesterday because most markets are up 3%+ today !!
I'd say that your portfolio is akin to someone on the low risk side of things- probably a 3 or 4 out of 10. Main question is, what are you going to do at retirement ? If buying an annuity then fair game but if you are going to stay invested & go into drawdown then your actual retirement date is not that relevant as you'll be "investing" up until you die.
I'm 60, my pension fund is split cash 45%, bonds 15%, equities 40%. All invested in Fidelity/L&G funds. I don't often switch it around. Looking at recent volatility is my equity exposure a little high? I'm not looking to touch the fund for at least 5 years. Any sensible advice welcomed. I do top it up each year to the max, normally the cash portion, and work still pays in. Cheers.
I would say that you are over invested in cash, but seeing as your Bond portion is relatively low then I'd say you're about right, although still a bit underweight in equities. A lot of Bonds are giving negative returns atm so holding cash is probably a sensible ploy......but not for too long. You should have bought equities yesterday because most markets are up 3%+ today !!
I'd say that your portfolio is akin to someone on the low risk side of things- probably a 3 or 4 out of 10. Main question is, what are you going to do at retirement ? If buying an annuity then fair game but if you are going to stay invested & go into drawdown then your actual retirement date is not that relevant as you'll be "investing" up until you die.
Cheers yes am pretty risk averse despite having been a trader myself for many years in FX and interest rates. Never really was able to suss out stock markets though, hence my reluctance to be over invested there. Appreciate your input and thoughts though. I’ll wait for another dip! Cheers.
Long time lurker on this thread. Just considering my ISA options for the new upcoming tax year. Interested in any experience on IFISA's in particular views on the Kuflink offering
Long time lurker on this thread. Just considering my ISA options for the new upcoming tax year. Interested in any experience on IFISA's in particular views on the Kuflink offering
Bumping this for you seeing as I have no clue what you mean. Googling Kuflink gives me a Peer-to-Peer lender in Gravesend and googling IF ISA's gives me Innovative Finance ISA's. Not something I have knowledge on or licence to advise on.
I will say though, if its your first foray into investing it might be best to go down the standard ISA route.
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Mortgage has just come up for renewal, it seems to me like it's a good time to go for a long-term fixed rate given that the base rate was a vote away from going 0.25% higher and it's trending up. Would you go for as long as 5 years fixed or is that a bit extreme? There's no real risk of downsizing etc.
As it is the market has factored in another 3 rate rises this year (4 in the US) although one investment house said yesterday that they think this is over estimating things & that Quantitative Tightening may put the brakes on too many rate rises this year.
The long term view is that the base rate will be around 2.5% to 3% by 2030.
Do the math and include fee's, I'd work on the basis that a 2 year fix in 2 years time will be 1.75-2%.
Now last year I paid off £6,000, so going into next Tax year balance is about £43,000.
So on a look back HMRC have deducted £1546 from my code for 2018/19 2019/20 2020/21 2021/22 an now trying for 2022/23.
Also checking your tax code is your responsibility.
The point I was making was that HMRC are able to get even the most obvious maths wrong. An that we should as you say NOT trust them to get it correct.
He says the Treasury doesn't work out what they need in regard to spending & then decide how they are going to raise it.....but simply tax as much as they can & then decide how to spend it.
HMRC benefit from taking as much as possible & then you have to fight to get it back if they get it wrong.
They say buy on the dips - no one knows where the market is going short term but long term it will recover. Could put in a chunk now & wait & see. Depends on how much you have to invest & how long you have until you need it out again. We are coming to the end of the tax year & so I have a few clients looking to max out their ISA's so not a bad time to put in £20k - if you have it of course.
did I miss something ? Has Putin surrendered ??
I suppose it is the 3rd Thursday in the month if anyone knows their history.
I'd say that your portfolio is akin to someone on the low risk side of things- probably a 3 or 4 out of 10. Main question is, what are you going to do at retirement ? If buying an annuity then fair game but if you are going to stay invested & go into drawdown then your actual retirement date is not that relevant as you'll be "investing" up until you die.
I will say though, if its your first foray into investing it might be best to go down the standard ISA route.