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A staggering one in four people may need social care at some point. With residential care home fees in the UK soaring by 11% in 2023, reaching over £46,000 annually (excluding nursing costs), the financial burden can be substantial. Most people find themselves self-funding these costs, which could significantly diminish savings and reduce the size…

A significant number of UK pensioners, over a quarter, have never changed their bank accounts. This steadfast loyalty might be costing them, as switching could lead to better interest rates and enhanced savings. Research by Hargreaves Lansdown reveals that many pensioners prefer to keep their savings in their current accounts. Surprisingly, 29% of them have…

Approximately 1.8 million parents across the UK are considering a significant step to help their children climb onto the property ladder: equity release. This move, seen as a beacon of hope for many aspiring homeowners, represents a growing trend among parents to financially assist their children in securing their first home. Survey Sheds Light on…

When you take out a mortgage, there are mainly two types: repayment and interest-only. The key difference lies in how you pay back the loan. With a repayment mortgage, your monthly payments chip away at both the interest and the principal amount. By the end of the mortgage term, if you’ve made all your payments,…

Australia, with its inviting sunny beaches and relaxed lifestyle, has always been a top destination for Brits dreaming of a sun-soaked retirement. But, moving Down Under isn’t just about packing your bags and heading off. It’s crucial to understand Australia’s complex visa and pension rules to avoid financial hiccups. The Telegraph produced a guide to…

The cost of living crisis in the UK is taking a heavy toll, particularly on those aged 50 to 79. Recent findings have revealed that nearly one in three people within this age group consider themselves vulnerable. This vulnerability stems not only from financial struggles but also from health-related issues, according to Leon Diamond, CEO…

Equity release rates in the UK have seen a decline this November, mirroring the trend observed in mortgage rates. Equity release, a financial tool used by homeowners over 55, allows them to access the money tied up in their homes. These rates had been on an upward trajectory for the past year, reaching a peak…

A Daily Mail reader asked whether they should take their NHS pension at the age of 55 or 60, and pensions expert Sir Steve Webb gave his opinion – summarised below. As a 55-year-old with a 1995 NHS pension scheme, you’re at a crossroads: Should you start drawing your pension now or wait until you’re…

There’s a growing concern among financial experts about the way equity release advice is being handled in the UK. In FT Adviser, Gareth Davies, the director of South Coast Mortgage Services, labels it as “madness” that the Financial Conduct Authority (FCA) allows firms to only offer advice on equity release products. This specialised advice, according…

At a recent conference, Angela Robertson, a prominent figure in the retirement lending industry, shared her insights into the current state and future prospects of later life lending. According to Robertson, the sector faces challenges due to the current economic climate and fluctuating interest rates. The reduction in customer numbers has been unexpected and difficult…