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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:

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


Women’s ‘worryingly low’ levels of financial protection - May 11, 2017
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New research shows that a shocking number of women lack the crucial protection of life or critical illness cover – despite half of working age women being their family’s main breadwinner. The research, which was carried out by the insurer Aegon, found that 51 per cent of 2,051 working women questioned were the main breadwinner … Continue reading Women’s ‘worryingly low’ levels of financial protection


Get up to £32,000 from the Government with the new Lifetime ISA (LISA) - April 24, 2017
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Announced by George Osborne in his final Budget last year, LISAs will be available from 6 April 2017 to anyone between the ages of 18 and 39. Unlike other ISAs, LISAs offer a 25 per cent Government bonus worth up to a maximum of £1,000 each year. This means that an 18 year old who … Continue reading Get up to £32,000 from the Government with the new Lifetime ISA (LISA)


Pension freedoms release more than £9.2 billion - April 24, 2017
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Figures released recently by HM Revenue & Customs (HMRC) show that a total of more than £9.2 billion has been released from pension pots since new freedoms were introduced in April 2015. The figures show that in the three months to January 2017, more than 1.5 million payments were made using the new pensions freedoms, … Continue reading Pension freedoms release more than £9.2 billion


Retirement age to hit 68 years, according to new report - April 24, 2017
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The recently released Cridland Report into the state pension has indicated that the age at which the state pension can be drawn is likely to increase to 68 by 2037. The review, headed by John Cridland, has looked into the various options for state-sponsored retirement and has come to the conclusion that the affordability of … Continue reading Retirement age to hit 68 years, according to new report


21 million savers to lose out from Premium Bond cuts - March 10, 2017
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National Savings and Investments (NS&I), the organisation behind Premium Bonds, has said that savers will have a slimmer chance of winning some of the biggest Premium Bond prizes from May. As part of a wider cut in interest rates across a range of NS&I’s savings products the estimated number of tax-free £100,000 prizes each month … Continue reading 21 million savers to lose out from Premium Bond cuts


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