As we immerse ourselves in the warmth of twinkling lights and festive cheer this month, we recognise that this time of year can bring a mix of emotions, especially when it comes to financial concerns. We understand that for some, the joy of the season will be accompanied by worries about budgets and expenses.
Yet, in the spirit of togetherness and celebration, we sincerely hope that you've discovered ways to enjoy the festivities with your nearest and dearest. This Christmas, you can find comfort in the knowledge that sound financial planning can be a guiding light during potentially stressful times.
In this newsletter, we aim to share valuable insights, tips, and perhaps a touch of seasonal inspiration to help you navigate the holiday season with financial peace of mind. After all, the magic of Christmas lies not just in the presents under the tree but in the moments shared with loved ones.
We want to take the opportunity to thank you for all of your support this year and we look forward to helping you with your finances again in 2024.
Merry Christmas & Happy New Year!
The festive season may not be the most conventional time to sell your home, but it can actually be a great opportunity to attract motivated buyers and create a warm and inviting atmosphere. If you're planning to put your home on the market this month, here are some top tips to help you successfully make a sale:
Consider your Christmas decorations: Keep your decorations tasteful and minimal. Overly extravagant decorations can overwhelm potential buyers and distract from your home's best features. Stick to classic, neutral, and elegant decor that enhances the beauty of your space without going overboard.
Create a cosy atmosphere: Make your home feel warm and welcoming. Consider adding soft, ambient lighting, like candles and fairy lights, to create a cosy atmosphere that makes buyers feel right at home.
Clear the clutter: A tidy home is essential for selling, regardless of the season. Before decorating, declutter your space and remove any unnecessary items. This will help your home appear more spacious and organised.
Embrace seasonal scents: The sense of smell is a powerful one, so use it to your advantage. Bake some treats, light scented candles, or simmer some potpourri on the stove to fill your home with pleasant, seasonal aromas.
Keep it well-lit: The days are shorter during the Winter, so ensure your home is well-lit during showings. Open curtains and blinds to let in as much natural light as possible. If necessary, add extra lighting to brighten up dark corners.
Price it right: Pricing your home competitively is crucial. Potential buyers who are actively searching at this time may be more motivated, so don't miss out by overpricing.
Highlight Winter features: If your home has attractive Winter features, such as a cosy fireplace, heated floors, or insulated windows, make sure to emphasise them. These features can be a selling point during the colder months.
Be flexible with showings: Understand that potential buyers may have busy schedules, so be accommodating with showing times. Your flexibility can make a significant difference in attracting serious buyers.
Market online: In today's digital age, many home buyers start their search online. Take advantage of online marketing to showcase your home's festive charm with high-quality photos and virtual tours.
Offer refreshments: Leave out some light refreshments, like cookies or hot cider, for potential buyers. This gesture can create a welcoming and memorable experience during their visit.
Selling your home during the festive season may require a bit more effort, but with the right approach, you can make it a successful and enjoyable experience.
If you’re selling up, get in touch today to discuss your individual mortgage and insurance needs
Risk warning: Think carefully about securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it. You may be charged a fee for mortgage advice
Many of us will have made a big dent in our Christmas shopping to do list, but at what expense?
Budgets this year are significantly tighter, and many will have turned to borrowing via credit cards, store credit and loans to afford a Christmas like those enjoyed previously. But what if the debts are growing and you’re unsure how you’ll look to repay them in the New Year?
Debt consolidation loans could help round up the existing debts into one easier to manage outstanding debt.
Benefits of debt consolidation:
- Streamlines finances: combing multiple outstanding debts into a single loan reduces the number of payments and you won’t have to worry about multiple due dates
- May reduce monthly payment: your overall monthly payment is likely to decrease because the future payments are spread out over a new and perhaps extended loan term allowing you to free up some of your monthly expenditure. This may mean that you are paying off a higher amount over time.
- Could lower interest rate: You could be going on a lower rate of interest through a mortgage or secured loan. You will be going from high interest unsecured debt to low interest secured debt
Book a call in for January to discuss how we could help support you through the post-Christmas debt difficulties
If we think you are eligible, we will introduce you to a nominated secured loan specialist company. Fees may be payable but these will be discussed during the advice process. Securing debt on your property, may mean that you are paying off a higher amount over time and the duration of the debt may be extended.
Recently we have been seeing all sorts of local news pieces on crowding funding appeals to help families who have fallen into financial difficulty, a lot of times due to a change in circumstances, illness or death.
The current percentage of UK adults that a hold a protection product are:
- 29% for life insurance*
- 13% for critical illness*
- 6.1% for income protection insurance*
- 3% for mortgage protection payment insurance*
A lot of life insurance policies have value added benefits that people often forget about, so it’s important to take make the most of these and ask if you need second opinions, a 24-hour GP service, or counselling services for example.
This festive season, we are going to be reviewing our client services and would like to invite you to get in touch for a free protection portfolio review to make sure your policies not only fit your current circumstances but provide the most cost-effective option in the market.
If you would like to take advantage of a free protection portfolio review this festive season, get in touch today to book an appointment
Protecting your health abroad might be important to you if you travel a lot, as it provides reassurance that you can receive medical treatment when it’s needed.
Falling ill in a different country can be stressful, especially if you’re unfamiliar with the local healthcare system. Without private medical insurance cover, you may also be left with expensive medical bills to pay.
You could consider purchasing an international medical insurance plan to safeguard your health if you spend a lot of time overseas.
What is international private medical insurance (IPMI)?
Designed for people who are living, working, travelling, or studying abroad, international medical insurance can give you fast access to medical care in leading medical facilities across the world.
A wide range of medical benefits may be included in international private health insurance plans, such as specialist consultations and diagnostic tests, cancer cover, maternity care, and mental health support.
Long-term renewable plans usually offer cover for lengthier periods of time abroad, while short-term plans usually last between 1-12 months and can provide an alternative to traditional, renewable plans.
Who is IPMI suitable for?
Many different groups of people opt for an international health insurance plan to cover them during their time overseas, which incorporates:
- Digital nomads
- Individuals and families living abroad
- Frequent travellers
- International students
- Workers on secondment
The type of plan you will choose will depend on different factors, such as how long you’re planning to travel for, where you’re travelling to, and what level of cover you want.
Benefits of international health insurance
If you’re considering purchasing international medical insurance, it can be useful to know some of the main benefits of taking out a plan. These include:
- Meeting visa requirements: having private medical insurance can sometimes be a pre-requisite to securing a visa when you move abroad.
- Protection from financial loss: private healthcare cover can prevent you from being left out of pocket from expensive medical bills.
- Fast access to treatment: it enables you to access healthcare services quickly if you become unwell when abroad.
- Plenty of choice and flexibility: with this type of insurance, you have the choice of doctor who treats you as well as where you receive treatment.
What’s the difference between travel insurance and international health insurance?
If you’re a frequent traveller, you might wonder what sets international health insurance apart from a travel insurance policy.
With travel insurance, you have cover for a variety of different issues, including cancelled flights, lost luggage, and emergency medical treatment. International medical insurance is generally designed for longer periods of time abroad and you have a wider range of medical cover.
If you spend a lot of time oversees, speak to us today about how an international medical insurance plan can safeguard your health
Taking extended breaks during the Winter has always been popular due to the enticing 'off-peak' prices and the opportunity to avoid high home utility bills. Additionally, there are health advantages to spending time in warm and sunny destinations, such as more chances for outdoor exercise, access to nutritious food, and an enhanced overall sense of well-being.
If staying in one place for too long makes you restless, cruises are a popular option for many. Longer cruises that encompass various destinations often provide better value than shorter ones. They can offer a surprisingly low daily cost, inclusive of food and entertainment.
Once you've decided to escape the British Winter with an extended getaway, there are a few other considerations to bear in mind. It's essential to verify whether your insurance covers prolonged trips, as many policies have limitations of one month or less. Additionally, remember to notify your home insurance provider, as being away for over 30 days might void your policy. You can also arrange for the Post Office to hold your mail if you prefer not to rely on family or neighbours to collect it.
If financing your trip appears to be a challenge, and you don’t want to take on extra monthly commitments or deplete your savings, you might want to explore equity release as a means of accessing funds.
Equity release can provide a practical solution for financing a Winter holiday by unlocking the value tied up in your property. By accessing the equity in your home, you can secure a lump sum or regular income that can be used to cover travel expenses, accommodation, and other holiday costs. This allows you to enjoy your Winter getaway without depleting your savings or affecting your day-to-day finances, making it an attractive option for those looking to experience a sunny escape during the colder months.
If you’re over 55 and looking to escape the British Winter with an extended getaway, get in touch to see how equity release could help
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice. A fee may be charged for mortgage advice. The exact amount will depend on your circumstances
According to Lloyds Banking Group fraud insights data, there has been a 75% increase in people getting scammed when shopping for things like cars, tickets and clothes on Facebook Marketplace.* So if you’re heading online to buy or sell gifts this month, here are some things to look out for:
Trust your instincts: If a deal seems too good to be true, it probably is. Trust your instincts and be wary of overly attractive offers or sellers pressuring you for a quick decision.
Meet in public places: Always arrange to meet the seller or buyer in a well-lit, public place. Opt for locations with surveillance cameras, like a local coffee shop or shopping centre, to ensure your safety.
Cash is king: While digital payment methods are convenient, using cash for transactions adds an extra layer of security. Avoid sharing sensitive banking information unless absolutely necessary.
Check the seller's profile: Take a few minutes to review the seller's profile. Look for a history of positive reviews and a well-established presence on Facebook. Be cautious if the account is new or lacks information.
Verify product details: Before meeting, confirm the product details with the seller. Request additional photos if needed, and ensure that the item matches the description provided in the listing.
Beware of shipping requests: Scammers may suggest shipping the item instead of meeting in person. Be cautious of such requests, especially if they seem insistent on a prepayment without any face-to-face interaction
.
Use Facebook Messenger: Keep communication within Facebook Messenger. Avoid sharing personal contact information until you're confident about the legitimacy of the transaction.
Check for red flags: Be on the lookout for red flags such as poor grammar in messages, unusual payment methods, or requests for personal information. Legitimate sellers will communicate clearly and professionally.
Research market prices: Research the market value of the item you're interested in to ensure that the price is reasonable. If the deal appears too good to be true, it might be a scam.
Report suspicious activity: If you encounter any suspicious activity or believe you've come across a scam, report it to Facebook. Your vigilance can help protect others in the community.
Stay safe online this Winter
* https://www.fca.org.uk/publication/financial-lives/financial-lives-survey-2022-key-findings.pdf
** 75% increase in purchase scams involving Facebook Marketplace from January to September 2023, compared to the same period last year. Sourced from Lloyds Banking Group fraud insights data, correct as of September 2023.
