FINANCIAL PLANNING
I believe personal financial management and budgeting should be taught in school!
Sadly, it is becoming increasingly common to hear about families with debt problems. However, if families are encouraged to budget properly at the outset then many subsequent problems can be avoided. This is an area of advice often overlooked but I always encourage clients to let me work with them so that their own budgeting is thorough, realistic and tailored according to their specific needs.
Debt Management Plans, IVAs & Bankruptcy
If you are facing financial hardship and having difficulty maintaining payments to creditors it is vital to take action as soon as possible. It is then much more likely that a positive solution can be achieved when it comes to negotiating with creditors.
I always advocate putting clients in touch with their mortgage lender and other creditors as early as possible as this is proven to achieve the best results. If this fails then I can help you decide on which of the various options is the most appropriate for you:
- a simple agreement to accept reduced payments for a period
- a more formal ‘Individual Voluntary Arrangement’ (‘IVA’)
- a debt management plan or bankruptcy
Wills & Inheritance Tax planning
I am often amazed by how many clients have not:
- made a Will
- considered any form of inheritance tax (‘IHT’) planning
- put their life assurance policy in trust
- set up a power of attorney
Whether or not you have a mortgage, life assurance policies or investments, everyone should make a Will, which can be surprisingly straightforward and inexpensive! However, it does become more expensive for clients with complex requirements or other family considerations.
Secured and unsecured loans
If you need a personal loan, for example, to buy a car, improve your home or consolidate existing debts then I can help you find the best secured or unsecured loan.
A consolidation loan gives you the opportunity to reduce your monthly commitments by having one loan and may give you a saving on the interest rate as well. However you need to be aware of the risks of securing previously unsecured debts on your home and of extending the original repayment period including that, by consolidating loans, you will pay more over the longer term.
“Bob has helped me on a variety of personal financial matters in the past 10 years. I have also referred Bob to a number of family and friends due to the highly professional and sensitive manner in which he conducts himself. What I find most refreshing is that Bob is unlike many other financial advisers I have met as he does not simply try to ‘sell’ you a particular product, but takes the time to look at the wider picture to ensure that the client makes the right decision for them - even if it challenges their original thinking.”
Think carefully before securing other debts against your home.
Your property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
If you would like to contact me you can call 01189 401 354 or complete this short form and I will call you: