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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:

Household savings down by almost half in Q1 of 2017 - August 9, 2017
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Worrying data published by the Office for National Statistics (ONS) towards the end of July has revealed that household savings hit a record low in the first quarter (Q1) of 2017 – after falling by as much as 48 per cent quarter-on-quarter. According to reports, Britons saved an average of just 1.7 per cent of … Continue reading Household savings down by almost half in Q1 of 2017


State pension age to be increased to 68 - August 9, 2017
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Under new Government proposals, as many as seven million UK men and women will have to wait a year longer than expected to get their state pension. This is because the UK’s existing state pension age of 67 will be extended to 68 by 2039 – affecting anyone born between 1970 and 1978, the Government … Continue reading State pension age to be increased to 68


Study reveals fall in mortgage costs - August 9, 2017
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A new study suggests that mortgage costs across the UK are falling – a trend that is expected to continue well into the near future. According to the latest quarterly product data analysis from market analysts Mortgage Brain, there has been a ‘slight drop’ in two-year fixed deals with loan-to-value (LTV) ratios of 60, 70 … Continue reading Study reveals fall in mortgage costs


Interest rates could be set to rise in coming months - July 24, 2017
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 Senior officials at the Bank of England (BoE) appear to be at odds with one another over whether interest rates should be increased in the wake of post-election uncertainty. Throughout June, rumours of an interest rate rise dominated the media until BoE Governor Mark Carney confirmed that borrowing costs should stay on hold on 20 … Continue reading Interest rates could be set to rise in coming months


£50bn liberated from defined benefit pensions since introduction of freedoms - July 24, 2017
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New research has revealed that £50bn worth of defined benefit (DB) transfers have taken place since changes to pension freedoms were first introduced in April 2015. The data, which was recently highlighted in the Financial Times, claims that there has been a total of 210,000 DB transfers since pension freedoms were made available. The surprising … Continue reading £50bn liberated from defined benefit pensions since introduction of freedoms


Brexit stock market boost creates record numbers of ISA millionaires - June 15, 2017
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A growing number of savers who have stocks and shares ISAs are finding that they are becoming ISA millionaires, boosted by a quickly rising stock market. Including reinvested dividends, the FTSE All Share index gave a return of 22 per cent over the 2016-17 tax year. The UK’s largest stockbroking firm has reported that the … Continue reading Brexit stock market boost creates record numbers of ISA millionaires


Mortgage market responds to ‘Bank of Mum and Dad’ phenomenon - June 15, 2017
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Research from the Centre for Economics and Business Research think tank predicts that UK parents will contribute as much as £6.5 billion to their children’s property purchases this year, representing more than a quarter of new home purchases. But if you are looking to support your children with a home purchase, there is more to … Continue reading Mortgage market responds to ‘Bank of Mum and Dad’ phenomenon


Rule changes could hit pensioners in the pocket - June 15, 2017
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Pensioners with ‘capped drawdown’ pensions could find that they are hit hard in the pocket this summer as a consequence of a little-known change. Under ‘capped drawdown’ arrangements, which were available until 2015, individuals were able to retain their full annual allowance of £40,000 on pension contributions, while drawing down their pension pot. Individuals drawing … Continue reading Rule changes could hit pensioners in the pocket


Older generation to pass on bulk of wealth to children, not grandchildren - May 11, 2017
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New research suggests that, in coming years, the bulk of the older generation’s wealth will be passed on to children as opposed to grandchildren – to the tune of more than £400bn. The figure comes after a study carried out by insurer Royal London revealed that the average estate expected to be left behind by … Continue reading Older generation to pass on bulk of wealth to children, not grandchildren


Banks reject cash LISA on launch - May 11, 2017
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A grand total of zero banks and building societies have opted to take up the Government’s new Lifetime ISA (LISA) cash account on the day of its launch, it has emerged. The news indicates that banking groups have taken very little interest in the new savings and investment vehicle, amid reports that they are complicated … Continue reading Banks reject cash LISA on launch


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