There is a link between your financial stress and mental health.

To avoid turning this article into a Boxing write-up, of which volumes have been written elsewhere, I just want to briefly focus on one element of the tremendous win from Tyson Fury at the weekend, which is his unbelievable mental attitude and openness about his own struggles. The documentary on him and his family on ITV is well worth looking up, it’s an excellent watch.

Financial stress and The Mental Health Foundation

As I have mentioned before, being open on mental health of one of our core values. Financial stress can be one of the driving causes of poor mental health. 78% of UK employees rely on finance options between pay cheques, with this figure rising to 91% in London. There is just no getting away from the link between your financial stress and your mental health!

We see this day in day out, and trust me, it is not just those on low incomes that feel this financial stress. Often the more you have, the more you worry. So that to that end, myself and a few of the team are running the Vitality Half Marathon around London on Sunday to raise funds for The Mental Health Foundation. If any of you good souls would be kind enough to donate toward this good cause we would be exceptionally grateful, which you can do here.

We truly aim to take the stress away but giving the best advice & service we can, and then working with you the manage the loan down until you are debt free. If you haven’t had the joy of dealing with us, you really should.

Rate Corner

Money markets pretty flat again last week. It very much looks like we have past the lowest point in this rate cycle so it would be prudent to secure a product ASAP if you are able to. We are seeing market leading rates being withdrawn, so expect more lenders to follow suit in coming weeks.

Last week we saw:
3 Month Sterling Libor – down 0.001% to 0.751%
2 Year SWAP rates – up 0.008% to 0.714%
5 Year SWAP rates – up 0.011% to 0.713%

These rates are relevant as most Banks buy in money based on the above markets. Libor often funds Variable rates and SWAP rates often fund Fixed Rates. Lenders will then add a margin to the above to reflect their risk and profit objectives.

Best Rates:

2 Year Variable from 1.24%
2 Year Fixed Rates from 1.14%
5 Year Fixed Rates from 1.41%
BTL Rates from 1.19%

The actual rate you will be offered will be dependent on your personal circumstance and deposit level. Please speak to one of our advisers so that they can guide you through this process
Source: Twenty7Tec Feb 2020

See also Should I remortgage to pay off my debts?

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