Endurance Financial

23/10/2024

BE CAREFUL WHAT YOU LISTEN TO/WATCH ON SOCIAL MEDIA!!-

FCA cracks down on illegal finfluencers

Twenty finfluencers (Financial Influencers) are being interviewed under caution by the FCA, as it launches targeted action against finfluencers who may be touting financial services products illegally.

The FCA also issued 38 alerts against social media accounts operated by finfluencers which may contain unlawful promotions.

Increasing numbers of young people are falling victim to scams, and finfluencers can often play a part. Nearly two-thirds (62%) of 18 to 29-year olds follow social media influencers, 74% of those said they trusted their advice and 9 in 10 young followers have been encouraged to change their financial behaviour.

Steve Smart, joint executive director of enforcement and market oversight at the FCA said:

'Finfluencers are trusted by the people who follow them, often young and potentially vulnerable people attracted to the lifestyle they flaunt.

'Finfluencers need to check the products they promote to ensure they are not breaking the law and putting their followers' livelihoods and life savings at risk.'

Notes to editors

Finfluencers are social media personalities who uses their platform to promote financial products and share insights and advice with their followers; there has been a significant increase in finfluencers over recent years. These people are not FCA authorised and are unqualified to be giving financial advice to the younger and often very impressionable age groups who follow them.
The FCA is unable to name those targeted for interview.
The individuals are being interviewed voluntarily under caution using the FCA’s criminal powers.
The FCA has already taken action against nine individuals and finfluencers for promoting an unauthorised trading scheme.
Consumers should check the FCA’s warning list before making any decision about how to invest their money. The FCA’s InvestSmart page contains useful information to help people make better investment decisions.

Source -

Twenty finfluencers are being interviewed under caution by the FCA, as it launches targeted action against finfluencers who may be touting financial services products illegally.

21/08/2024

16/03/2023

DISCOUNT MARKET VALUE SCHEME

The Discount Market Value (DMV) scheme, also known as the Discounted Sale scheme or various others, is a UK housing initiative aimed at helping lower-income households afford their own homes. This scheme allows eligible homebuyers to purchase properties at a reduced price, usually below the full market value. The DMV scheme is typically offered by local authorities, housing associations, and developers to ensure more affordable housing options are available for people in need.

Key features of the Discount Market Value scheme:

1. Eligibility: To qualify for the DMV scheme, applicants must meet specific eligibility criteria, which varies depending on the local authority or housing association. Typically, these include being a first-time homebuyer, having a household income below a certain threshold, and being unable to afford a suitable property on the open market.

2. Discount: Properties under the DMV scheme are sold at a discounted rate, usually between 20-50% off the market value. This discount aims to make housing more affordable for eligible homebuyers.

3. Restrictions on resale: When reselling a property bought under the DMV scheme, the homeowner is generally required to sell it at the same discount percentage they initially received. This ensures that the property remains affordable for future eligible buyers. Some or all of the initial criteria may also apply upon resale.

4. Mortgage and deposit: Applicants will need to secure a mortgage and provide a deposit for the discounted sale price. The number of lenders that can lend on each property varies depending on the number of restrictions imposed on buyers and how restrictive they are now, and upon resale.

It is important to note that the availability of the Discount Market Value scheme varies depending on the local authority, housing association, or developer involved.

21/12/2022

Born April 71 to April 73? - PENSION AGE CHANGING FROM 55 to AGE 57

The normal minimum pension age (NMPA) is changing to age 57 on 6 April 2028.

Anyone wishing to take pension benefits at age 55 can do so before 5 April 2028, after that date the earliest they can be taken is age 57.

Who will this affect?

Whilst the change in minimum age relates to everyone, there will be a few people directly affected by this increase.

For example:

• It could affect those born between 7 April 1971 and 5 April 1973 if they have not taken all benefits before 6 April 2028.

Someone born on 5 April 1973, would be 55 on 5 April 2028 and would have to wait until age 57 on 5 April 2030 if they still have pension benefits to take.

• Those born on or after 6 April 1973 will have a minimum pension age of 57 so will not be able to take any benefits until they reach that age.

Contact us for Pension & Investment Advice too!

01142496990

11/11/2022

Buyers are urged to be cautious with estate agents pushing in-house services such as brokers and solicitors on to customers

04/11/2021

**INTEREST RATES**

BANK OF ENGLAND today voted (7 to 2) to keep the Bank of England Base Rate at its record low of 0.10%.

15/06/2021

Unfortunately, we are hearing of more and more clients that have faced unfair and misleading pressure from various estate agents.

See these clippings about offers and financial qualification from The Property Ombudsman's guide and take time to look at the link for your full rights as a Buyer and/or Seller.

Remember - ALL offers MUST be put to the vendor, even without financial qualification and agents MUST NOT favour buyers that indicate they will use their other services (solicitors etc.).

https://www.tpos.co.uk/images/Codes_2019_a5/TPOE27-8_Code_of_Practice_for_Residential_Estate_Agents_A5_-_Effective_1_June_2019.pdf

03/03/2021

5% Deposit Mortgage scheme is announced in the England budget! Arriving from April. We will release details when they become available.

STAMP DUTY holiday on properties up to £500,000 extended to 30th June and to end of September for properties up to £250,000!!!

Happy days 👌🏼👌🏼👌🏼

01/03/2021

5% Deposit Mortgages

Lots of speculation that Rishi might be re-introducing the 5% Deposit Mortgage Guarantee scheme in this weeks budget.

Let’s hope we get this and the stamp duty extension 🤞🤞🤞🤞

26/02/2021

Thank you goodies get all the staff’s attention in the office! 😋😋😋 Good job it’s Friday treat day 😂

24/02/2021

STAMP DUTY NEWS

The government are CONSIDERING extending the stamp duty holiday to June!

Fingers crossed it’s not smoke without fire 🤞 🤞🤞

07/01/2021

It turns out that until we start seeing clients face to face again, our business cards have a great new use 🥶

Message us for a free ice scraper 😂❄️