Independent Financial Advisors
Offering the support you need
We are a long established firm of independent financial advisors, offering a professional financial planning service to private clients and businesses.
At tba Wealth Management we pride ourselves in listening to your needs and providing you with bespoke advice in the timescale you demand. Financial health is integral to almost everything you aspire to achieve in the future, and we believe we can help you attain your goals.
With Government pressure to reduce the cost of saving and competition within the financial services industry the range of products and services available now is very different to that which existed 5 years ago.
The best financial advice we at tba Wealth Management can give you to enhance your future lifestyle is to plan, not for just the next twelve months but also for the medium and long term.
We are experienced in working with clients to review their current position, to listen to their future aspirations, and then draw up and implement a bespoke strategy and plan. Meeting regularly thereafter will ensure that the plan is monitored and, if circumstances change, modified accordingly.
This is done using our four step approach:
How to pay off an interest only mortgage
You are not alone
In 2022 there will be c. £12.5 million of interest only mortgages required to be repaid. This is expected to increase to c. £32 million by 2032.
Many took interest only mortgage as it was an affordable way to get on to the property ladder and many expected that they would repay that debt by selling their home.
However, in England our home is our castle, and this tends to be more and more the case the older we get. We have established our local connections with Doctors, Dentists, friends and shopping facilities and frequently we see people not wanting to sell their house and move.
So, what is the alternative, how you do repay an interest only mortgage when you do not have the savings to do so?
A lifetime mortgage, also referred to as equity release, could help you repay that interest only mortgage and so there is no need to move.
You could stay in your home forever
Lifetime mortgages allow you to repay an interest only mortgage and either repay the interest on a regular basis, roll up the interest i.e., have no further monthly commitment to the mortgage or pay lump sums off the mortgage as and when you can afford it.
You should seek advice if you are considering a lifetime mortgage or other forms of equity release as it may not be the most appropriate solution for you.
However, if you need advice about repaying your interest only mortgage feel free to get in touch with our qualified financial advisor. We offer a free consultation to go over your circumstances and possible options. Call us on 020 8661 7878 or email firstname.lastname@example.org
Unsure of your retirement options?
So let our team fill in those gaps with a free no obligation consultation.
Call us on 020 8661 7878 or email email@example.com
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When is a tax year end not a tax year end?
“Dear client it is important that you make use of your ISA/ pension annual/ capital gains tax allowance for the current year” delete as appropriate.
This is considered to be essential financial planning advice so that we use it or lose it. However, this year I think things are a little different.
This year, perhaps more than last year, we are in unknown territory. We now have a massive COVID chasm.
The UK now has more than £2 trillion in debt, massively increased because of necessary borrowing to help us out of this COVID crisis. This debt must be serviced and hopefully paid back. But how?
There are a few routes that the Government can take but included in them it seems likely that taxation in one form or another will be affected. So, what does that mean for you?
It means even more so now you might want to be taking up your financial planner’s advice and making use of those valuable allowances this year to benefit from taxation allowances that you have, to protect some of your wealth from future income and capital gains tax, to pay income and capital gains tax now at a rate that could well be lower than it is in the future.
But we have two months I hear you cry. Well no. Although the tax year end remains the 5th of April, perhaps this year we should be looking upon it as Budget Day, the 3rd of March, because following that we could be seeing a completely different taxation landscape and we may not like the look of it.
Should you require any advice about your financial planning do please get in touch, call 0208 661 7878 or email firstname.lastname@example.org .