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£3.4bn in property wealth released in 2020


By Michael Griffiths

Older homeowners released more than £3.4bn in property wealth last year, according to new data published by Key.

The figures revealed that 9,930 people released more than £1.1bn in the fourth quarter of 2020 alone


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72% of easy access balances earning less than 0.1%

Seventy-two per cent of easy access balances in the UK are earning a rate of 0.1% or less, research from Paragon Bank has revealed

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Residential property transactions jump 13.1% in December – HMRC

December saw a 13.1% monthly climb in the number of residential property transactions across the UK, new HMRC data has revealed

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FCA to introduce price cap on CMC fees

The FCA has published new plans to introduce a price cap on the fees that claims management companies (CMCs) charge their customers

‘Pandemic paradox’ at heart of UK personal finances – AJ Bell

A “pandemic paradox” is at the heart of personal finances in the UK, according to AJ Bell

130,000 mortgage deferrals in place at end of 2020

There were 130,000 mortgage payment deferrals in place at the end of December, new UK Finance data has revealed
MFS announces new £150m funding line

Market Financial Solutions (MFS) has secured a new £150m funding line

CIOT calls for govt to give businesses timely relief on corporation tax

The Chartered Institute of Taxation (CIOT) has called for the government to allow businesses to benefit from a three-year carry back of corporation tax losses arising during the pandemic

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CIOT calls for govt to give businesses timely relief on corporation tax

The Chartered Institute of Taxation (CIOT) has called for the government to allow businesses to benefit from a three-year carry back of corporation tax losses arising during the pandemic

Double tax bill could be facing UK’s self-employed

A quarter of the UK’s self employed workers could be facing a double tax bill this January, new research has revealed

Investors would oppose introduction of wealth tax

The majority of UK investors would be opposed to the government’s proposed introduction of a wealth tax, according to new research carried out by Butterfield Mortgages Limited (BML)

CGT hike could lead to ‘flurry of activity’ for investors in Q1

A potential hike in Capital Gains Tax (CGT) is likely to increase the rate of tax for investors and entrepreneurs looking to sell their companies and could lead to a “flurry of activity in Q1”, according to Foresight Group

FCA to introduce price cap on CMC fees

The FCA has published new plans to introduce a price cap on the fees that claims management companies (CMCs) charge their customers

FCA to extend repossession ban until April

The FCA has announced proposals to extend its ban on repossessions until 1 April 2021

FCA issues warning over cryptoasset investments

The FCA has issued a warning to retail consumers over investing in cryptoassets that promise high returns

Govt announces new leasehold reforms

Millions of leaseholders are to be given the right to extend their lease by a maximum term of 990 years at zero ground rent, Housing Secretary Robert Jenrick has announced

72% of easy access balances earning less than 0.1%

Seventy-two per cent of easy access balances in the UK are earning a rate of 0.1% or less, research from Paragon Bank has revealed

‘Pandemic paradox’ at heart of UK personal finances – AJ Bell

A “pandemic paradox” is at the heart of personal finances in the UK, according to AJ Bell

£3.4bn in property wealth released in 2020

Older homeowners released more than £3.4bn in property wealth last year, according to new data published by Key. The figures revealed that 9,930 people released more than £1.1bn in the fourth quarter of 2020 alone

86% of advisers would recommend retraining to enter profession

Eighty-six per cent of financial advisers have indicated they would recommend their profession to a friend who had been made redundant due to COVID-19

Consolidating multiple pension pots could save £140k – Quilter

A person saving for a comfortable retirement could save over £140,000 by consolidating multiple pension pots into just one, new analysis from Quilter has found

Fintech launches world’s first ‘net zero’ pension

Cushon has announced it is launching the world’s first “net zero” pension fund

Workplace pension contributions dipped 11% in first lockdown

Employee pension contributions towards workplace defined contribution (DC) schemes fell by 11% between the first and second quarters of 2020, as the impact of coronavirus struck the UK

£800m could be tapped by Dormant Assets Scheme expansion

Up to £800m in pensions and investments assets could be unlocked following a major expansion of the UK’s ‘Dormant Assets Scheme’, the government has confirmed

MFS announces new £150m funding line

Market Financial Solutions (MFS) has secured a new £150m funding line

Pandemic slashes UK dividends by two-fifths in 2020

Eight years of growth was wiped off UK dividends in 2020, according to the latest UK Dividend Monitor from Link Group

COVID-19 pandemic a ‘wake up call’ for first-time investors

Sixty-six per cent of investors between the ages of 18 and 34 began to invest for the first time last year as lockdown made their finances a top priority, according to research from Alliance Trust

Investment pathways will add ‘layer of confusion’ – OpenMoney

OpenMoney has warned that the FCA’s investment pathways will add “another layer of confusion” for people planning their retirement

Mortgage Advice Bureau partners with Nivo

Nivo has partnered with Mortgage Advice Bureau (MAB) to launch a secure mobile instant messaging across its distribution of 1,500 advisers

Mortgage Magic adds equity release module to platform

Mortgage Magic has announced it will be adding an equity release module as the latest enhancement to its platform

Quilter launches scam reporting tool

Quilter has launched a new online tool for reporting suspected impersonation scams

Mortgage Broker Tools launches new analytics platform

Mortgage Broker Tools (MBT) has launched a new platform to give lenders live insights into the affordability environment

Foundation reveals recent recruitment drive

Foundation Home Loans has announced a significant increase in recruitment across its underwriting, new business and sales teams

West One’s BTL division partners with L&G Mortgage Club

West One Loans’ buy-to-let (BTL) division has announced it is launching with Legal & General Mortgage Club

Metro Bank partners with Brilliant Solutions

Metro Bank has announced that Brilliant Solutions is joining its intermediary panel

Just Group joins Brilliant Solutions lifetime mortgage panel

Just Group has announced it is joining the Brilliant Solutions lifetime mortgage panel, offering its entire lifetime mortgage product range

BLOG: Why life expectancy matters when planning your retirement

When you start planning your retirement, it may be the lifestyle you’re focused on. But if you don’t include life expectancy there’s a risk you could spend too much too soon

BLOG: A holistic approach

VitalityLife is delighted to have won the ‘Best Life Assurance’ award at the Mortgage Awards 2020

BLOG: The importance of the Cash ISA

Paragon’s Derek Sprawling explains why Cash ISAs should not be overlooked as part of a resilient portfolio

BLOG: Where to start with Mortgage Sourcing?

Mortgage Brain is the leading provider of technology to the mortgage industry, developing and delivering the best software solutions for mortgage intermediaries since 1986. Its suite of products provides advisers with an end-to-end journey from sourcing to conveyancing.

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