'Your Money Matters' Quarterly Client E-Newsletter

'Your Money Matters' Winter Edition - January 2013

Greetings!

Happy New Year from everyone here at Firth & Scott. Our very best wishes to you for a happy, healthy and prosperous 2013.

Our first newsletter of the year includes articles on how the Autumn Statement will affect you financially and an update on new rules, relating to mortgage lenders and advisers, coming into operation April 2014.

IN THIS ISSUE

Auto-enrolment

The Autumn Statement

Mortgage Market Review

Auto-enrolment

As mentioned in the previous edition of 'Your Money Matters' auto-enrolment is now up and running and I'm sure you've all noticed the TV adverts encouraging us to opt in (if appropriate).

There is a danger that those saving for a home or repaying student debts will opt out at once losing the advantage of employer contributions.

Retirement planning, whatever form it takes is so important these days, and please should you have any questions relating to any aspect, please do not hesitate in contacting your Independent Financial Advisor here at Firth & Scott.

Article written by Steve Hopkins FCII

The Autumn Statement

From the start of the next tax year personal allowances will rise for those aged under 65 to £9440.

For the over 65's and 75's the allowances will remain the same and so will the age allowance limit.

The coalition government are therefore moving towards their commitment to equalize the level of personal allowances for those aged under 65 and over 65.

Whether this will be achieved at the start of the 2014/2015 tax year we will have to wait and see.

More ...

Further announcements made in the Autumn Statement affecting your finances include ISA allowances, tax thresholds and the lifetime allowance for tax-free pension savings.

So quite a few changes to think about and should you require clarification in respect of any of the points coming from the Chancellor's Autumn Statement, please don't hesitate in contacting your Financial Adviser here at Firth & Scott.

Article written by Steve Hopkins FCII

Mortgage Market Review

Proposed Rules Relating to the Responsibilities of Mortgage Lenders & Advisers, is my recent blog post about the FSA's Mortgage Market Review (MMR) document.

The MMR proposed rules restricting the sale of interest-only mortgages to borrowers with a repayment vehicle in place. The final rules are expected to be published in the autumn.

I think that we will see over the next year all mortgage lenders tighten up on what they call an "interest-only" mortgage and require (in all situations) confirmation of how the borrower intends to repay the mortgage at the end of the selected term.

This could be a good opportunity to consider a remortgage to ensure interest rates remain as competitive as possible.

If you require any help on mortgages please don't hesitate in contacting your Financial Adviser here at Firth & Scott.

Article written by Steve Hopkins FCII

Online Mortgage Calculator

Thinking about moving house or nearing the end of your current mortgage deal?

Let us help you make the right decision moving forwards.

Why not browse our online mortgage search facility, provide us with your details and we'll contact you to ensure you obtain the most competitive deal available in line with your personal requirements?

Mortgage Review Service

Call Nottingham 0115 8400 333 or complete our online enquiry form and take advantage of an independent review of your current mortgage situation.

Your home may be repossessed if you do not keep up repayments on your mortgage.

If you wish to to discuss any of the points raised in the articles above, please don't hesitate in contacting me here at Firth & Scott Financial Services Ltd.

Yours sincerely,

Steve Hopkins MD Firth & Scott Financial Services Ltd

Steve Hopkins FCII

Managing Director

Direct Line 0115 8400 322

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Registered Address: 579 Mansfield Road, Sherwood, Nottingham, NG5 2JN

IMPORTANT NOTE

This newsletter is designed to provide you with general information only and does not attempt to give you advice on any particular investment or to recommend any particular investment to you. If you have any doubt as to whether a particular investment is suitable for you you should contact Firth & Scott Financial Services Ltd for advice.

Firth & Scott Financial Services Ltd are Independent Financial Advisers and are authorized and regulated by the Financial Services Authority.

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