Smart Money Guides
Welcome to our latest issue. Like your car, your finances require consistent care and attention to keep running smoothly. Just as a regular service ensures your vehicle performs at its best and avoids costly breakdowns, a yearly financial check-up is vital to ensuring your money works as effectively as possible. On page 12, we look at why the beginning of 2025 offers an ideal opportunity to take stock of your financial health, setting the tone for a prosperous and secure year ahead.
The end of the tax year is fast approaching, ending on 5 April 2025. This is your opportunity to review your annual allowances and assess how best to make the most of them. With some significant changes to tax allowances in the 2024/25 tax year and further reductions expected in the future, planning ahead is key. On page 06, we explain how to use your allowances now to maximise your wealth by leveraging tax-efficient strategies and minimising liabilities.
Planning your estate is challenging at the best of times. Knowing how to mitigate your liabilities while ensuring your loved ones are cared for takes proper planning and the right tools. The 2024 Autumn Budget Statement announcements could create significant and lasting challenges for rural busi-nesses of all sizes. Under the Chancellor’s proposed changes, from April 2026, IHT reliefs availa-ble to farms and family businesses will be restricted. Turn to page 38.
Cuts to the Capital Gains Tax (CGT) exemption mean it is now more critical than ever to arrange your investments tax-efficiently. For the tax year 2024/25, the CGT allowance has been reduced to £3,000, allowing you to make tax-free gains up to this amount. However, any gains above this limit may be subject to CGT. Appropriate planning is essential to ensure your hard-earned investments work efficiently for your future. Turn to page 09 to find out more.
A complete list of the articles featured in this issue appears on pages 02 and 03.
Time to reset and take control of your financial future?
The start of a new year is more than just a date on the calendar – it’s a chance to hit reset and take control of your financial future. Whether you envision a comfortable retirement, are ready to grow your investments or are focused on safeguarding your wealth, now is the time to act. We’re here to guide you every step of the way, helping you turn today’s goals into tomorrow’s achievements. Please contact us for more information or to start a conversation.
Welcome to the Winter 2024 quarterly issue of The Mortgage & Property Magazine.
As we entered the new year, some mortgage lenders initiated rate cuts, making new deals more affordable for homeowners. It’s important, however, for homeowners to scrutinise the details of these offers. When lenders announce rate reductions, they don’t uniformly apply these cuts across all products.
Due to substantial shifts in the financial landscape over the past couple of years, mortgage rates are projected to stay elevated compared to what many have grown used to. Approximately 1.6 million homeowners will witness their current fixed-rate deals expire this year, with a potential for a notable increase in their monthly payments.
Nevertheless, the competition amongst lenders could help mitigate these costs, ensuring the impacts are not as severe as initially feared. This competitive landscape may provide some relief to homeowners navigating the evolving mortgage market.
Considering a change of scenery this year? We’ve often heard the saying that ‘Home is where the heart is’, but what happens when your heart’s destination isn’t quite clear? You may be pondering a nationwide move due to an enticing job opportunity, or the charm of countryside living is beckoning you away from the city’s hustle and bustle. Regardless of your reasons, it’s undeniable that moving can be a daunting endeavour. If you’re considering such a move, we have provided some crucial points to remember on page 90.
A complete list of the articles appears on pages 03 to 05.
As mortgage experts, we support you every step of the way, no matter what you need. We’ll give you all the information you need and be a helping hand to get you through the process of buying a property. We hope our magazine gives you the insights you need to make informed decisions. To learn more about how we can help you with expert professional mortgage advice, please contact us to discuss your requirements – we look forward to hearing from you.
We hope you enjoy reading this issue.