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When it comes to living comfortably in retirement, how does the UK measure up against the world? Many Brits might be eyeing their retirement with a mix of anticipation and anxiety, especially given the UK state pension’s reputation for being less than generous. The basic cost of living looms large over retirees, with the full…

A recent discussion highlights a possible shift in how brokers could approach lifetime mortgages to ensure consumers are not only informed but protected. This fresh perspective calls for a deeper examination of customers’ financial situations, advocating for a practice that might seem obvious yet is often overlooked: considering income in lifetime mortgage recommendations. Edward Payne,…

Getting a foot on the property ladder is becoming an increasingly complex challenge for many, with a significant number of first-time buyers turning to the Bank of Mum and Dad for that much-needed financial boost. This trend highlights a changing trend in the journey towards homeownership, with nearly half of all first-time purchasers now relying…

The government has announced a significant 8.5 percent increase in state pensions. This adjustment pushes the headline rate up to £221.20 weekly, amounting to an annual boost of £902—raising the total yearly payout to approximately £11,500. Understanding the Increase Who Benefits? Those pensioners who entered the state pension age before April 2016, and are thus…

Standard Life Home Finance has introduced a new facet to its popular ‘interest reward’ equity release scheme. This latest innovation, dubbed the Horizon Interest Reward product, is designed to attract a broader audience by offering a more flexible way for homeowners to manage the financial implications of tapping into their home’s equity. A Fresh Take…

Over 650,000 pensioners across the UK are set to face income tax charges for the first time since retiring. This move comes as a result of recent changes in state pension increases and tax thresholds. Starting from this week, an unprecedented shift will see over half a million state pensioners begin to pay income tax,…

As you edge closer to the golden years of retirement, the big question looms: how do you ensure your pension savings stretch as far as possible? For many, turning 55 opens up a world of choices for pension access, yet with little guidance on how to navigate these crucial decisions. The introduction of ‘pension freedoms’…

LiveMore, a leading provider of later life lending, has announced a reduction in its mortgage rates. The company has trimmed rates across all its later life mortgage products, including retirement interest-only (RIO) mortgages, which have seen a reduction of 0.25%. This adjustment is poised to make a considerable difference for retirees looking to manage their…

Nearly half of all new mortgage borrowers in the UK are now facing a future where they’ll still be making payments well into their retirement years. This dramatic shift in the housing and lending landscape has sparked concern among experts and officials alike, signaling a potential for long-term financial strain on homeowners and the market.…

The head of one of the world’s largest investment firms, Blackrock, has sounded the alarm over a looming retirement crisis. With populations living longer but struggling to afford their extended years, the future of retirement is looking increasingly precarious. Larry Fink, the CEO of Blackrock, has raised concerns in his annual letter to investors about…