Hi, my name is Mark Derrick and I am a director and financial advisor with over 25 years experience. Firstly, sorry if this post is long winded but its really difficult to bullet point this topic.
In these unprecedented times, it is only natural to start thinking about your current financial arrangements.
As a whole of market Mortgage & Protection Adviser, I just wanted to let you know that we are here, open (working remotely) and have access to great technology solutions which means that we can review your finances securely without having to arrange a face to face meeting.
You may have heard that The Bank of England has cut the base rate to 0.1% which is the lowest level in history. This could be a great opportunity to review your current mortgage deal so we can get you the best arrangement for you.
According to the Money Advice Service, each year one million people in the UK find themselves unable to work due to a serious illness or injury. Whether you own your own home outright, have a mortgage or are renting, the thing you will not want worry about when trying to get yourself better is finding the money to pay the bills, or to keep the lender or landlord happy by meeting their monthly direct debit. In our experience people are not always aware of what could happen if they were unable to work and many have no financial back up plans to protect them.
The most common causes of long-term work absence we know are mental health, stress, musculoskeletal injuries and acute medical conditions. But every client is different and so are their needs so that's why we choose not to limit insurance solutions to just one provider. We have access to a wide range of insurers so we know that there is a solution to match both needs and budget. So, if you want to make sure your bills get paid when you aren't able to work, an income protection plan is essential.
Now could be an opportune time to dig out information relating to your exisiting life insurance policies and review what you may or may not have in place to protect your loved ones. What covder do you have and what would that mean to your dependants. Is it in trust so that it goes to the right person outside of the estate thus reducing potential inheritance tax. If you are unmarried trusts can be very important as the laws of intestate determine how your estates is distributed. Having your life insurance within a trust can give peace of mind for you and security for your beneficiaries. Equally a Will is an important consideration for us all and all too often overlooked.
Our financial review service can potentially save you money and identify areas for your consideration to improve your financial security. Should you have any questions, we are a phone call or email away. You can also check deals & obtain actual mortgage illustrations and life/critical illness illustrations via our website detailed below.
Mark Derrick CertPFS CII
Tel: 01273 586222 ext 3 or 07970 867523