Should I Use My Pension to Repay My Mortgage? – Hot Topics Q & A

Q. I have had an interest only mortgage now for many years and the lower cost rather than a repayment loan meant it helped send my son to a private school. Of course now age 56, I am looking at how I pay this off if I don’t downsize. I have a few investments and these are mostly in personal […]

Offset Mortgages – Are They Still Effective?

Offset mortgages can be very tax efficient. However, if interest rates rise offset mortgages will lose some of their appeal. Borrowers should therefore take advantage of low rates of interest while they can. There is little doubt that an offset mortgage can be a very effective way of repaying a house purchase loan for a […]

Fixed vs Tracker Rate Mortgages – Which Option Is Best? – Hot Topics Q & A

Q. I have a fixed rate mortgage deal that is due to end soon. I am now trying to decide whether to opt for another 5 year fixed rate or go for an alternative strategy, such as a lifetime tracker rate. The value of my property is circa £625,000 and my current mortgage is £406,250 with 20 years left […]

The Blame Game – Ray Prince

I was watching one of those TV debt programmes the other day. You probably know the type – the ‘victims’ of the recession telling their woes and insisting that the situation they find themselves in isn’t their fault. This particular couple had amassed approximately £40,000 of unsecured debt on personal loans and credit cards. The […]

Not Playing The Game! – Hot Topics Q & A

Q. As a dentist with a lot of debt, the recent drop in interest rates is welcome news. But much to my dismay and increasing anger, my lender has not reduced their standard variable rate on which my loan is based. It seems to me that many lenders have reduced their rates in line with […]

Invest or Pay Off Debt? – Hot Topics Q&A

Q. I am a 48 year old doctor working as a Consultant with some private practice earnings. I have around £800 per month that I can spare to invest, but am extremely nervous of the stock market. I have stayed away from this type of investment so far, but colleagues say this is the best time to […]

Lower Interest Rates – What Do They Mean To You?

The fact that the Bank of England (BOE) has slashed interest rates by 1.5% to 3%, I think shows how worried they are about the British economy. In a Bloomberg survey of 60 economists, nobody had predicted such a large cut in one go. You would be forgiven for wondering what the reasoning behind this […]

Buying a Dental Practice – Your Loan Options – Hot Topics Q & A

Q. I am in the process of purchasing a 25% share in a dental practice. I need to raise £400,000 and have agreed the details of a loan with one of the major lenders. What else do I need to be aware of and are there any additonal questions I need to ask the lender? A. You have […]

New Mortgage Deals – Still Available? – Hot Topics Q & A

Q. I have heard that there are not as many good mortgage deals available as there were a few months ago. I am about to come to the end of my existing deal. What do you suggest and what steps should I take? A. Yes, you’re quite right. Following the Northern Rock affair last year and the ensuing […]

Offset Mortgages – Are You Protected? – Hot Topics Q & A

Q. I am a fan of offset mortgages, and have achieved large  savings by ‘parking’ my tax monies and linking my current account. As a surgeon now in my late 40s, the amounts I am holding in my offset deposit account are around the £150-£200,000 mark, against a debt of  £650,000. I am, however, a little nervous […]