It has been playing on my mind how we can do more to help our clients, and indeed new clients, during this period, my solution, free wills.
Therefore, last week I picked up with one of our contacts that providers our Will writing service and we are now extending that out to offer Free Wills to our clients, and new clients. For clarity, we do not make any money from this, in fact we absorb the cost for you. We have done so for a while for any clients that take protection with us, but it felt like the right time to go further.
So if you have not already done so, please pick up with your adviser who can talk you through this process. If you would like to take up the offer of free wills, please feel free to contact me or any of the team and we will guide you to the right person who can help.
Review your current protection arrangements
With the protection market still grappling with staff shortages and having to update their policies post COVID-19, we really do urge you to review your current arrangements and plug any gaps that you may have.
Again, we can do this with you completely free of charge. One thing I really wanted to stress was that insurers (certainly the good firms we work with) do look to pay claims and want to support you. I have heard a few crazy rumours in the last week which motivated me to take make the changes above.
One of our core values is getting our clients on the path to financial Independence come retirement. If you want to embrace this goal, insuring yourself against loss is essential. Everyone’s goals /needs / situations are different, but that is exactly why we are here to help you through this and make sure you are best placed should anything unexpected happen.
Money markets have now stabilized and are creeping upwards. We have been saying this for a number of weeks now that mortgage rates will creep up, and not down, from here. That is reflected in the chart above and details below. Trackers are now more expensive than fixed rates for the first time since the COVID-19 situtaion started to rear its head.
This would also strongly indicate that markets are expecting the UK Base rate to get to 0.5% (up 0.4% from where we are currently) in the next 12 months or so.
Most major lenders are moving forward with some form of automated valuation during this ‘lock-down’ period. We would urge you to secure any remortgage products as early as you can (which is 6 months ahead of your current deal expiring). However, if you just want to talk over how this may affect you, that is exactly what we are here for:
3 Month Sterling Libor = UP by 0.043% to 0.681%
2 Year SWAP = UP by 0.023% to 0.511%
5 Year SWAP = UP by 0.037% to 0.544%
2 Year Variable from 1.24%
2 Year Fixed Rates from 1.14%
5 Year Fixed Rates from 1.44%
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 April 2020
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