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MT Financial News

From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:

Bank warns of possible negative interest rates - August 19, 2016
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With the Bank of England Base Rate falling to a quarter of a per cent, NatWest has written to approximately 850,000 of its business customers warning that interest rates may imminently go negative. The effect would be that businesses would be charged to hold funds with the bank. However, one of the possible reasons for … Continue reading Bank warns of possible negative interest rates


Home ownership amongst under-45s collapses - August 19, 2016
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The proportion of under-45s who own their own home has suffered a sharp downfall in the wake of the global financial crisis in 2008, whilst ownership rates amongst older people have remained the same or increased. The rate of home ownership amongst under-45s was 64 per cent in 2003-4, whilst the overall rate of home … Continue reading Home ownership amongst under-45s collapses


Total pension savings up on back of Auto-Enrolment but many firms are missing their staging dates - August 19, 2016
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Figures published recently by the Prudential have shown a significant increase in the total amount put away by UK workers towards their pension pots, despite many firms missing their auto-enrolment staging dates. UK workers’ pension contributions last year amounted to more than £9.3 billion – a 17 per cent increase on the 2010/11 tax year … Continue reading Total pension savings up on back of Auto-Enrolment but many firms are missing their staging dates


Brits ineligible for state pension to receive letter from government - July 14, 2016
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More than 100,000 people are set to receive a letter from the government informing them that they are unlikely to receive the new flat-rate state pension. Earlier in the year, the Work and Pensions select committee had called on the government to act urgently to let the large number of people who will not receive … Continue reading Brits ineligible for state pension to receive letter from government


How will Brexit affect personal finances? - July 14, 2016
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On 23 June 2016 the UK’s electorate took the decision to leave the EU. This decision has left many people wondering how it will affect their finances in future years. Whilst it is impossible to give a definite answer there are certain things that are already becoming clearer, despite the overall picture remaining very uncertain … Continue reading How will Brexit affect personal finances?


‘Stingy’ ISA rates for loyal customers - July 14, 2016
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Research by consumer group Which? has revealed that many loyal bank and building society customers are experiencing “woeful” interest rates from their ISAs. The group analysed 212 ISAs from 21 UK providers to assess what rates they had on offer. The Which? survey found a significant number of ISA rate cuts over the last six … Continue reading ‘Stingy’ ISA rates for loyal customers


What happens if you inherit an ISA from your spouse? - June 9, 2016
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The rules governing ISAs mean they cannot be opened or held on a joint basis, including with spouses. But many couples will divide their joint savings between them, opening an ISA each to take maximum advantage of the personal tax-free savings limit, which this year is £15,240. However, where a couple may have effectively been … Continue reading What happens if you inherit an ISA from your spouse?


Women lose pension delay fight - June 9, 2016
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Increases in the state pension age announced by the government will leave millions of women born in the 1950s worse off by up to £12,000 and the Work and Pensions Secretary now says he cannot see a “do-able policy solution” to cushion the blow. The Pensions Act 1995 provided for the equalisation of state pension … Continue reading Women lose pension delay fight


Rules tightened on Master Trusts - June 9, 2016
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Last month’s Queen’s Speech saw the government unveil plans for strict new rules on Master Trust pensions in a bid to address worries about their potential dangers. Master Trusts emerged in response to the requirement for employers to meet the 2018 deadline for Auto-Enrolment. Each Master Trust is a single legal entity with a single … Continue reading Rules tightened on Master Trusts


Mortgage lenders raise age limits - June 9, 2016
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Major lenders are beginning to raise their maximum age limits on mortgages, following recent criticisms that secure borrowers are increasingly turned down by banks on account of their age. Nationwide has made headlines by raising its maximum age limit from 75 to 85 – the highest of any major lender in the UK to date. … Continue reading Mortgage lenders raise age limits


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