Jayne Simmons Elite Financial

25/06/2019

This is a really important distinction to make. Many clients I have seen in the past feel they have sufficient cover for their mortgage if they have Death in Service benefits but this is not always the case.
If you have a mortgage it is important to have the right cover in place.

We often get asked by clients what the difference is between death in service (also known as group life cover) and personal life insurance. As such, here's what you need to know about the difference between the two: What is death in service? Death in service is an employee benefit sometimes provided...

24/06/2019

Some things are more reliable than others - monthly bills, for example. Young or old, single or married, we all have financial obligations to meet each month; be it luxuries, like a satellite TV subscription or mobile phone contract, or the real essentials – like keeping a roof over your/your family’s head.

But some things - like our long-term health - can be less reliable. For instance, one in two people born after 1960 in the UK will be diagnosed with some form of cancer during their lifetime.

If you became critically ill and unable to work, those monthly expenses would still need to be covered if you wanted to maintain your lifestyle. Ask yourself: could you cope financially?

To ensure you and your family are financially protected, I strongly recommend you review your protection needs at the earliest opportunity.

21/06/2019

It is easy to think that it wont happen to you - taking time off from work due to incapacity when you are currently fit and healthy. It is not always an illness that prevents us from working, it could be something as innocuous as a trip or fall which then leads to weeks off work and several rounds of physiotherapy. We all human and without an income many of us would struggle with mortgages and bills - income underpins everything you do. So, can you afford not to have it!

It’s easy to dismiss income protection as something you’ll need later in life when age-related illnesses and conditions become more prevalent.

30/04/2019

The Equity Release Council's Spring report again shows record market growth. The headlines from the report include:

Equity release plays a growing role in older consumers’ access to home finance
Consumer demand increases across all UK regions
Lifetime mortgages now make up approximately a third of all new mortgages among customers in their mid-fifties and beyond as they continue to increase market share

Do you or someone you know:
Need to plug the retirement income gap?
Need to repay an existing mortgage or unsecured debt?
Are looking to help children get on the property ladder?
Simply want to enjoy your retirement by enjoying a cruise or buying that car you've always promised yourself

If so and you are aged 55 or over, please contact me and I will be happy to discuss the options available

17/04/2019

Are you a small local business (or a large business for that matter!) who would like their employees to have access to mortgage, pension and investment advice?
I am currently looking for businesses to work with where I can invite employee to mortgage and/or pension clinics.
The service is free and the companies we currently work with find this a useful service for their directors and employees.
Please let me know if I can support your business

11/04/2019

The number of customers releasing equity from their homes jumped by 23 per cent in the second half of 2018 compared to the same period in 2017, new lending figures show.

The Equity Release Council found that the number of products available to home owners who want to borrow against the value of their home has doubled over the past year to 221.

The Council found that 43,879 over-55s released home equity between July and December last year, including 24,907 new plans agreed.

Equity release is nothing to be feared - it is an excellent way of using the equity in a property to support pension income allowing you to enjoy your retirement and it doesn't matter if there is already a mortgage in place as long as this is repaid as a result of the equity loan.

This is something I can assist with so contact me if this is something you wish to explore

09/04/2019

At a time of uncertainty around Brexit and the burning question “will or won’t this effect my mortgage?”.
Experts are advising customers to act now, and secure those long term rates to protect your future, and I am committed in supporting anyone with mortgage related queries, so would be happy to discuss your mortgage requirements with you. Please let me know how I can help you.

19/02/2019

WHY GETTING A MORTGAGE IS JUST THE START…….

For those of you who have striven
to buy your home and struggled through the home buying process, the last thing you want is for that home you have worked so hard to buy be taken away because suddenly you are struggling to make the repayments or too ill to work.
This is the reality if you don’t have adequate protection in place. Getting the mortgage is just half the story.

5 reasons why you need to consider protection

TO PROTECT YOUR FAMILY AND LOVED ONES
If your loved ones depend on your financial support for their livelihood, then life insurance is a must, because it replaces your income when you die. This is especially important for parents of young children or adults who would find it difficult to sustain their standard of living if they no longer had access to the income provide by their partner.

TO PROVIDE AN INCOME
How will you meet your financial commitments if your income suddenly decreases or even disappears completely? Providing a replacement income can help and allow you to recover properly without the added worry of paying those important bills.

TO PAY YOUR MORTGAGE AND OTHER DEBTS
In addition to providing income to cover everyday living expenses, your family needs insurance to cover any outstanding debts, like the mortgage, credit cards and car loans. Other expenses include funeral and burial costs that can easily run into the tens of thousands of pounds.

TO ADD MORE FINANCIAL SECURITY
Like most parents you probably want to know your kids will be well taken care of when you’re gone. You not only want them to get a quality college education, but to provide for other life ventures like getting married or starting a business. For this reason, additional coverage is absolutely essential while your kids are still at home.

TO BRING PEACE OF MIND
We can’t know when we’ll pass away. It could be today, tomorrow or 50 years from now, but it will happen eventually. No amount of money could ever replace a person. But more than anything, life insurance can help provide protection for the uncertainties in life. Without a doubt, having life insurance coverage will bring you and your family peace of mind.

13/02/2019

Good News for first time buyers!

There were 66,350 mortgages approved in January 2019, according to the latest mortgage monitor from e.surv.

The report showed that, despite mixed predictions for the housing market this year, there were encouraging signs for younger borrowers with little cash to spare.

In January, 27.1% of all mortgage approvals were for borrowers with a small deposit, up from 25.2% the previous month.

This is really encouraging for first time buyers who haven't got a large deposit available - there a plenty of lenders out there who can accept a 5% deposit so if you are thinking of taking the plunge feel free to contact me!

06/02/2019

First Time Buyers don't despair! I am happy to discuss all elements of house buying - from initial inquiry to the day you get your keys and will avoid unnecessary jargon.

More than half of prospective first-time buyers are confused by common housing market and mortgage terminology, according to research.

This complicates the process for young people as they try to take their first step on the property ladder and means they could be missing out on the very initiatives that are designed to make the market more accessible to them.
he data, which comes from Aldermore’s latest First Time Buyer Index, shows that more than 52 per cent of prospective first-time buyers struggle to understand the Help to Buy equity loan.

Just under half, meanwhile, can’t make sense of the Lifetime ISA and almost 60 per cent are mystified by the Starter Home Initiative. The figures are lower for shared ownership (35%) and the Help to Buy ISA (36%), but still make alarming reading.

Young people who bought homes in the past three years said they struggled to understand the terminology surrounding the process. Asked what was the hardest part of buying their first home, other than raising a deposit (10%), first-time buyers pointed to the procedural processes.

01/02/2019

Interesting article in Mortgage Introducer from Haarts Estate Agent - maybe some positive Brexit news!

A number of buyers and sellers decided they can’t put their lives on hold forever and returned to the housing market in December, Haart estate agent claimed after launching its last research.

The estate agent said there were 1,263 house sales in December, an increase of 18.4% year-on-year and 13.9% from the month before.

What is more the number of applications in the first two weeks of January was up by 4% year-on-year, while the number of listings rose by almost 30%.

“In December we also saw a 17% jump in sales to landlords across England and Wales. This was matched by a 16% fall in sales to landlords in London. Savvy investors continue to head to pockets of the West and East Midlands, and the North West, where more favorable yields can be achieved.