PIL Petersfield

News

by

Home Reversion Schemes

Not that long ago, if you were approaching retirement age and had not repaid your mortgage, your only option was to sell and downsize.

Enter: Home Reversion Schemes and Equity Release mortgages. Loved and loathed, perhaps in equal measure, they were tools of Satan to some and s
aviours to others. Perhaps rightly, their relative merits and true costs were both praised and vilified.

Things move quickly in the world of financial services and there are now many options within the Later Life lending toolshed, including options that allow for conversion of a traditional style mortgage to, as extreme as, interest roll up in the future.

We can guide you through the retirement mortgage maze, if you ned to raise funds after retirement or are worried about how you might remain in your home beyond retirement and the maturity of a mortgage.

by

Are we too late to buy our first home

An article I read in the national press the other day piqued my interest.

Entitled: “I’m 48 and my husband is 50 – are we too late to buy our first home?” – the answer is absolutely not!

True, you might have a few hurdles to overcome, but an Independent Mortgage Adviser will have various for options for you.

If you, or someone you know, are in this position, encourage them to get in touch.

Ian T. Batchelor – Independent Mortgage & Protection Adviser

by

Life Insurance & Trusts

If you have a life assurance policy and if not done so already, you should consider putting the plan into a Trust.

It could be argued that trusts are one of the most important financial planning tools at your fingertips.

If a policy is written in trust, it remains outside of your estate, which can help to mitigate a potential inheritance tax (IHT) charge on death.

But, perhaps more importantly in many cases, trusts can be useful in making sure the plan benefits are paid to the right people as quickly as possible, as it takes the policy out of the Probate equation.

Additionally, the rules of intestacy may also take effect if you die without a Will, meaning multiple surviving relatives could be eligible to receive the payout from a claim.

However, if the policy is written under trust, any benefit can be paid to the surviving trustees – and distributed to the named beneficiaries – as soon as the claim is settled.