Smart Money Guides

Welcome to our latest issue. The UK tax year is a well-structured framework governing tax assessment and collection. It begins on 6 April and runs until 5 April the following year. As we approach the end of the 2024/25 tax year, maximising available opportunities is essential to make the most of your finances. Time is running out to review your plans and fully capitalise on tax-saving options. On page 12, this article explores some key strategies to ensure you finish the tax year in a strong position and make your money work harder for you.

The world is on the verge of an unprecedented intergenerational wealth transfer. Despite this monumental shift, many families remain unprepared, lacking structured plans to ensure their financial legacies are preserved or distributed according to their wishes. On page 05, we look at why wealth transfer planning involves much more than merely arranging for Inheritance Tax. This process requires asking crucial questions concerning your legacy, your beneficiaries and your long-term financial aims.

When planning for retirement, utilising a pension is one of the most effective ways to secure your financial future. The generous tax relief offered on pension contributions makes options like SIPPs (Self-Invested Personal Pensions) particularly advantageous. On page 08, we consider how to maximise investment opportunities, which could make SIPPs an appealing choice for appropriate investors.

For many earners in England, Wales or Northern Ireland, the highest Income Tax rate is 45%. However, while 45% is the highest ‘official’ rate, some individuals effectively pay a tax rate of 60% on part of their income. This phenomenon, commonly called the ‘60% tax trap’, affects those earning between £100,000 and £125,140. Turn to page 38 to find out more.

A complete list of the articles featured in this issue appears on pages 02 and 03.

Welcome to the Winter 2025 quarterly issue of The Mortgage & Property Magazine.

This year’s key market trends and analysis offer valuable insights into the UK’s home-selling and mortgage markets. Rightmove’s forecast for 2025 highlights a dynamic picture shaped by affordability, competitive pricing, and increased market activity. With an estimated 1.15 million property transactions predicted for 2025, buyers are poised to benefit from an increasingly favourable market. Read the full article on page 77.

One of the first steps when buying a home is determining exactly how much you can afford to borrow for a mortgage. Many buyers aim to purchase the biggest house they can afford without compromising their ability to meet monthly expenses. On page 30, we look at how finding the right balance requires careful consideration of several factors.

With UK mortgage rates stabilising and forecasts suggesting potential reductions, many homeowners will be re-evaluating their mortgage options. Could this be the moment to act and remortgage? On page 13, we consider why, for some, remortgaging could lead to substantial savings, potentially amounting to thousands of pounds annually.

Significant changes to stamp duty will take effect in April 2025, potentially raising bills for first-time buyers and home movers. First-time buyers will be most affected, with their costs potentially rising by thousands of pounds. On page 66, we explain why some commentators are especially urging first-time buyers to get their property purchase completed before the end of March 2025 to avoid these substantial new charges.

A complete list of the articles appears on pages 03 to 05.

Are you ready to find the right mortgage or insurance deal?

Whether you are buying your first home, planning a move, refinancing, growing your property portfolio, or need insurance, our team of experts are here to help. We’ll guide you through every step, providing tailored advice to meet your needs. Contact us today and start a conversation. We look forward to hearing from you!

We hope you enjoy reading this issue.