What is Financial Claims?

With so much publicity over the last 3 years regarding mis sold ppi it is a natural progression that all financial claims have risen but for many they are still not sure what is a financial claim really means so we will set out the type of financial claims you can make and some of the rules behind them.

Financial claims can include

  • Having received the wrong advice for your mortgage
  • Being advised to transfer you final salary pension
  • The advice you received for any type of investments
  • Wrong pension advice
  • PPI
  • Whole of life insurance that was the wrong advice
  • Protection policies that were inappropriate for your needs

This is a list of some of the products you can make a financial claim against if you believe you were missold any of them.

So what can you do if you feel any apply to you and what rules apply to every case?

Firstly the 6 year rule applies so you have to make a complaint within 6 years of receiving the advice or 3 years after you became aware you were or possibly received the wrong advice so this could be ten years after the advice or even longer.

You must put your complaint in writing setting out why you believe the advice was inappropriate for you needs.

What can you expect if your claim for compensation is successful?

You will be put back into the position you would have been had the advice never taken place plus interest so if you invested £10,000 and got £7,000 back you would receive £3,000 and 8% interest from the date of the investment as compensation.

This is a very straight forward example but some cases especially pension claims can be far more complex and  the calculations for compensation can take months to work out so please be aware of this especially if it is a pension case.

As we have said financial claims can be complex unlike ppi cases where most people can claim by themselves if the wished but for many the only alternative they will have with other types of claims is either using a claims management company or the services of a solicitor.

By doing this it will come at a cost if they in our case typically 25% but the good news is if they don’t win then you have nothing to pay as they work on a no win no fee basis.

The other way you should think of it is “would you rather have 75% of something or 100% of nothing” it is easy to decide when you think of it this way.

Be sure you select an experienced company to deal with your claim for financial redress as it can often be difficult to find the reason you were misold in your file if they do not have the relevant experience in financial claims of a complex nature.

For more information on specific financial claims relating to pensions visit https://mis-soldpension.com



What happens to my mortgage if interest rates go up

With the Bank Of England split regarding interest rate rises it is only a matter of time before we see the rate rise but what does it mean for people who already have a mortgage and for the first time buyers looking to get on the property ladder in the UK.

Firstly for anyone with a current mortgage who is on a fixed rate any rise by the BOE will not affect you unless your deal is coming to an end very soon and if you are concerned about it now is the time to check to see if you have an early redemption penalty and if so when will it expire.

For people on a tight budget or people just wanting to ensure there monthly mortgage payments remain the same then fixed rate mortgages is best for you.

For people who are already on the Standard Variable Rate or who have a tracker mortgage then any increase by the BOE will almost certainly see your monthly mortgage payments rise with immediate effect. If this applies to you and you want some certainty as to your monthly mortgage payments moving forward then speak with a mortgage advisor now who will help you find the best mortgage deal to sit your needs.

For first time buyers especially people looking for a 90% mortgage then this will have no impact other than your monthly mortgage payments will be greater than they would have been at the present moment.

It will not impact on your chances of getting a mortgage other than affordability which has just been tightened up by the industry so because the payments will be higher may squeeze your budget harder than might have been if the rates did not rise.

There is no guarantee that the BOE will raise the rate anytime soon as the previous vote was 7-2 in favour of holding the rate and with the economy growing in the UK but not in other parts of the EU a the same rate I think it is unlikely we will see an interest rate rise before 2015.

If you feel concerned at all about the speculation surrounding interest rates then it is best you speak with a mortgage broker straight away as leaving it too late might see a rate change coming into place and you paying more for your mortgage than you needed to.

For first time buyers any interest rate rise will have no effect on the schemes available to you via the government to help first time buyers get on the property ladder so you can continue to look in the knowledge these schemes will still be available to you.

In some areas the funds available for first time buyer schemes have ran out so if you are looking check with a mortgage broker to ensure the scheme still has funds available before you commit to buying you first home. https://90mortgagesuk.co.uk


The Relevance of Term Life Insurance Comparison

Life insurance policy is considered to be the most effective means of securing your family’s future even if you will pass away. One of the most popular and recommended life insurance policies is term life insurance. From the name itself, the policy will serve your family in a specific period of time, which may be 10, 20, or 30 years at maximum. To get the best term insurance policy, you need to consider term life insurance comparison, which will open you to tons of deal options.

Term Life Insurance as a Policy

Term life insurance is a policy that will cover your death fees within the coverage period. It is your choice whether to renew the policy if the end of the arrangement is nearing. It is different from permanent life insurance, primarily in terms of the coverage period. Permanent life insurance appears to be more expensive for it reaches up to 100 years of insurance support.

How Term Insurance Works

Before going over your term life insurance comparison, you also have to comprehend how the plan works. The straightforward protection will generally require monthly or annual premiums. It will cover your family’s income loss and even give you compensation support for needs and debts. If you are raising a child, the term insurance policy might as well give additional protection. Lastly, your children’s college education or your house mortgage might be covered by the term policy as well.

Selecting the Best Term Life Insurance

There are different considerations in term life insurance comparison. First, it is best to apply while you are young for less mature people tend to get cheapest rates. Also, it is best compare term life policies based on what you really need. Never select a plan that costs two or more times higher than your annual income. The length of the coverage also matters and this will also depend on your current need. If you want to cover home mortgages, you may select 30-year policy, whereas a short term may do if you are nearing retirement. Consider price breaks in selecting a term policy, which will help you pay a little for additional coverage. https://www.terminsurancequotesuk.co.uk



Why Buy Term Life Insurance Policy and Not Whole Life Policy

Life insurance is a policy between two parties, which include the insurance holder and the insurer or the provider of the lump sum. In order for the holder to get a lump sum in the future, there must be a premium to be paid, which may be exempted from tax or not. In addition to this, there are two types of life insurance policies, one for protection and another of investment. If you only for the protection of your family, you may then settle with the term life insurance policy first.

What Is Term Life Insurance Policy?

The policy is a type of life insurance plan, which provides temporary protection to you and your family for a certain period of time. Specifically, you will be coordinating with the insurance holder to determine until when the coverage will be active. If you will pass away during the time period of the policy and it is still active, a death benefit will be provided in return. In contrast, term life insurance is much cheaper compared to whole life insurance policy. In addition to this, take note that term life insurance has no cash value.

The Concept of Term Life Insurance

The term level policies have premiums that will remain consistent throughout the period of the coverage. In other words, preparing for payments will be easier. Other than that, the level of premium you have to pay for depends on how long the policy should remain active. For instance, if you opted for a longer policy, you will be required to pay for a higher premium. The levels of term level policy may be for a decade, two decades, or even three decades, which is why term life insurance policy is also known as level term policy.

The Difference of Term Life Insurance to Perm Life Insurance

The main difference between the two insurance policies is that term life insurance policy is for temporary protection of your family, while perm life insurance is for a lifetime. Your premiums with term policy will stay for a given period, for instance 20 years. On the other hand, permanent life insurance is designed to exist until you pass away. More premiums will be charged to you since paying a death benefit will also be included in the plan. Other than that, most whole life policies are designated for future savings or investment, which is why taxes are expected to be encountered.

Renewability of Term Life Insurance

Term life insurance is also highly beneficial in terms of being renewed easily once the agreement ends. You can extend the life of the policy if you think you or your family still needs financial support. During the renewal, there will be no medical examination to be conducted. But as advised, you should still take physical for the annual amount you will get will be greatly based on your current health.

Convertibility of Term Life Insurance

Other than being renewed, you may also convert term life insurance policy so that you can get permanent life insurance in return. There is no needed medical exam or underwriting for this matter. You may opt for health-concerned life insurance or you may secure your coverage based on your current need. https://www.terminsurancequotesuk.co.uk


Get Only the Best From No-Win, No-Fee Lawyers in Scotland

Everyone has a right TO legal assistance, no matter what their background and circumstances are. That is why today, no win no fee lawyers in Scotland is becoming high in demand. Because these lawyers in Scotland believe that everybody should be given a chance to experience legal representation. No matter what their financial backgrounds are, this company allows every client to have the same chance as everyone else.

These lawyers in Scotland introduced this system as a response to those clients who have limited access to legal justice. Their concern focuses on helping people who lack financial resources so they can reach justice, the same way as others who are capable of doing so. They do not only give legal assistance in court, but they give legal advice as well. Their expertise lets them help every client with their legal issues.

Through the years, these no-win, no-fee lawyers in Scotland never failed to provide effective service to every client. Given their goal, they always make sure to help their clients achieve the justice they rightfully deserve. These lawyers highly believe that everyone deserves a chance to fight for their rights, no matter what their social status are. They exist solely to provide help to clients who struggle to resolve their issues, but do not have the funds to do so.

How Does No- Win, No- Fee Works?

This type of assistance is said to be useful and cheap because of the no-win, no- fee arrangement. If the case will not be successful, the client will not be required to pay. The client is free to go without paying any amount to the lawyers and to the legal assistance they worked together with. But if the claim is successful, the client will pay legal fees. Usually, a success fee has been added to the final amount of fees which the client is required to pay. But of course, do you really think the no-win, no-fee lawyers in Scotland will let you lose the case?

Through the years, they have gained respect and trust from different clients of different sectors because of their excellence in what they do. Their expertise is not only limited in providing legal assistance to their clients, but they definitely help solve their clients’ legal matters and provide alternatives. These lawyers are known very professionally and at the top in their field so expect nothing but first- rate legal assistance from them.

That is why clients go for the services offered by the no-win, no-fee lawyers in Scotland. Because they have the complete package of what anybody can ask for legal services. Unlike other legal companies who offer the same services, this one will not trick you and oblige you to pay hidden charges. They do not have monthly fees. The only time you will be required to pay is if the lawyer has successfully helped you with your case. They also work fair and clean that is why you can undeniably trust them with your legal matters.


Know Why the Whole Life Insurance Is the Best

Given all the kinds of insurance today which provides different benefits and cost varies depending on the situation, whole life insurance is what considered by many as the best among its kind. Like any other life insurance, best whole life insurance provides security for the future of the holder. It covers health care expenses, as well as death expenses. It also secures the financial stability of the chosen beneficiaries of the owner of the insurance.

But unlike any other types of life insurance, the thing about the best whole life insurance is how it acts as a savings account. The premiums that you are paying all through your life accumulates cash values which you can use not only when you are dead but even while you are still alive and kicking. The amount of the cash value depends on the amount of premiums you have decided to pay. But nevertheless, you can accumulate the worth of your cash value through the years, especially if you are not withdrawing or borrowing from them. Not to mention the interest that you can get from them.

Not similar from the other types, this kind of life insurance makes it the best for the fixed amount of premiums you are required to pay. Other kinds will force you to increase your payment for every renewal of your term or for every payment of your premiums. This happens because of the limited terms you have agreed with them or this happens when the age and health of the owner changes. But with the best whole life insurance, as long as you are in force with the policy, you are guaranteed to pay the same amount through the years.

The cash value also grows tax free. That is why you are guaranteed that it will continue to increase and will not lose its value through the years that they are in the company’s hands. Unless you have decided to withdraw them, which is when the only time they will be taxed. That is right. Insurance companies will allow you, the owner to withdraw and take loans from your money. That is why you do not have to wait for your death to experience the benefits of your cash values.

Given the popularity of best whole life assistance these days that a lot of companies has now made these things more accessible to all by offering them online. That is why now, you do not have to find a good agent or go to offices just to inquire and apply. Because now, you can already do those things in the comfort of your home. Since there are lots of companies who offer different services and assistance, it is your duty as a client to do a good research about your chosen company. You should be fully aware with their policies and benefits offered. Inquiries and application are free anyway.

You should also take into consideration your situation. Not because best whole life insurance offers good benefits and financial assistance does not mean that you will automatically get it. You should take into consideration your resources and tools. Who are the ones you are planning to benefit and are you capable of paying the premiums for the rest of your life? There are lots of cases where clients just end up canceling their policy before they break even. Best whole life insurance, as the term itself says, is a lifetime responsibility. But nevertheless, you are guaranteed in exchange with excellent benefits and lifetime assistance, not only for you but for your beneficiaries.


The Things You Need to Know About a Mis Sold Pension Mortgage

There are several ways a mis sold pension mortgage can happen. It can greatly help if you gather as much information as you can about getting a pension mortgage. This is for you to avoid from becoming a victim of a mis sold pension mortgage. On the other hand, if you have just gotten yourself a pension mortgage and you are suspecting that something is not right, here are some of the circumstances that a mis sold has occurred.


You Were Asked to Self-testify


It’s very unlikely for a proper pension mortgage deal to ask the client to self-testify. A self-testify happens when the client was given the permission to borrow money without proving their income or overstate their income so that they can borrow more. When making financial deals, it’s always a must to be honest and give the right facts.


You Were Given Incomplete Information


Most of the time, people fall as victims of a mis sold pension mortgage because they are not provided with the complete information. There are different ways to be a victim just by failing to get the proper and complete information. For example, you were asked to remortgage, but you were not informed of the penalties and other fees. Before you do anything, it’s a must for every client to be told every important information, including the fees they have to pay. Information many consultants fail to provide is the commission they are going to receive from the lenders. It’s very common for consultants that have other plans to give you false and incomplete information. Most of the time, they will not tell you of the options you have.


The Reasons for Mis Sold Pension Mortage


There are several reasons why these things happen. However, a common reason why people become victims of a mis sold pension mortgage is because they were members of a Final Salary Pension Scheme and they have transferred their money to a money purchase scheme, regardless if they have left their current employer or not. This act must have been done through the advice of a financial consultant who can be independent or tied to a certain company and may have taken place after April 1988.


People can also be victims if their accounts have been frozen and they were encouraged to transfer their money without the proper analysis.


If You Have Been Mis Sold


What you should know the moment you realize you are a victim is you need to act right away. You can check out more information and what you need to do on the website of the Financial Ombudsman. The reason why you need to act quickly is because there is a time frame that you should meet. If you go beyond the time limit, your concerns will no longer be entertained. However, if you are a victim of a mis sold pension mortgage, you should approach your provider first and only go to the ombudsman if your problems are not settled.



The 95 Mortgages Can Easily Win the Most Engaging Deal

They say that 95 mortgages are among the most interesting forms of mortgage deals today. They are the right mix of easy and hard. How? This is simply because the financial companies and the clients are entitled to so many things when they work with it.


  1. Companies Get Help from the Relatives


Believe it or not, clients have the option to choose a relative to pay for the remaining balance, in case they can no longer do it. There are some financial companies that do this for their 95 mortgages. This could actually be better for both the parties.


First off, they will not be looking for another buyer. That means that the company could cut down the cost and time when looking for one. Secondly, the client still has the chance for the property. Relatives could be a lot easier to talk to than the financial institutions. The relative who will shoulder it and the default client can just talk under their terms on what will happen next.


Lastly, relatives do not need a lot of background check. If they can work around the files of the original client, then, they can easily get some for their relatives.


  1. Companies Get Help from the Interest Rates


Since 95 mortgages are generally not in favor of the companies, they make it skew a little more to their favor by increasing the interest rates. If the public will pay so much for the troubles that could happen along the way, then, they will surely be excited in offering it.


The interest rates are not just the price that a client has to pay the financial institution for waiting. It is also the price that they have to deal with in case they look like they will default anytime soon. In the UK, the current rate for five percent initial payments is at more than five percent with a grand fee.


Meanwhile, those with 45 percent initial deposit is working at just a little more than one percent. Risk is something you will always pay for.


  1. Companies Get Help from the Government


In the case of the United Kingdom, the financial companies are helping out their clients by asking help from the government. There is already a scheme so-called Help to Buy. This is just for mortgage finders. The deal is for the government to help out the client for the first few years of the transaction.


If not, they can also shoulder the 20 percent of the equity. However, the client will pay it in time. The payments could be in form of taxed assets, monthly contributions after the probationary term, and many others. The 95 mortgages will always find its way to be paid.


You will never run out of people to run to when you are dealing with 95 mortgages. Companies and clients always have a reason why this is their favorite among all the types of mortgages. What about you? How do you find this deal? Is it an aye or nay?



The Key Features of Applying for Relevant Life Plan

Relevant life plan is known as an assurance plan made available for employers who want to provide service benefit upon the death of an employee. When an employee dies, a lump sum from the employer would be provided, particularly if the death occurred during the term of the policy. Besides death, the plan would also cover issues, like a terminal illness, that meet the definition of the policy. Nonetheless, if not concerning death, the plan may no longer be applicable in the last 12 months of the term.

The Start of the Commitment

Although the employer is solely responsible for paying out for the plan, it is understandable that the employees have roles to keep the plan working properly. First and foremost, the employer must pay for the premiums until the end of the plan, either monthly or yearly. According to the rules, the coverage will stop a month after the due date of last premium. With regards to employees’ contribution in the plan, an honest and accurate answer must be provided whenever an accident or death occurs. Assuming the real scenario won’t help since it is the purpose of the plan’s company to also contact a doctor. Lastly, employees have the right to be informed about the changes in the policy if ever a few are implemented over the course of the policy.

The Real Advantages of Relevant Life Plan

Primarily, the death benefit, which would be provided upon a death of an employee, would be excluded to the employee’s pension lifetime allowance. Furthermore, premiums associated with the relevant life policy could be treated as a business expense for tax purposes. The employer would also be taking advantage of the fact that benefit payments would be free of income tax and are not assessable on the employee for national insurance contribution purposes.

Relevant Life Insurance Suited for Businessmen

Relevant life plan is made in order to help employers avoid the cost of providing additional death benefits to the families of individuals who died during employment in a company. Furthermore, the plan is highly beneficial if an employer does not wish to provide tax efficient additional benefits, especially in arrangements for the existing death.

Cost Savings Assured With the Plan

According to the studies, the life plan can be similar to other life coverage insurance options. However, its difference can be traced on the tax efficient benefit it can provide to the employer. Instead of suffering from tax issues, an employer could save up to 50% on taxes by just complying with the premiums extended in the plan.

Portability at Its Best

The relevant life insurance could be fully portable. In other words, a new employer could take over the premium payment over the course of the plan. The new employer would also be considered as the trustee of the trust. Existing trustees are the ones responsible for appointing the new employer as the trustee. Practically, contacting the company offering relevant life plan is necessary to ensure that other formalities would be clarified in due time.


Business Liability Insurance Guide, Tips And Advices

Building a team of employees is as important as keeping them, because there are no businesses without workers. We all know that business is everything to people. It is not only important to the owners, but to consumers as well. It goes hand in hand. Being the owner of a growing business, you face tough challenges. The best thing you can do is to make sure that your business is protected not only today, but also tomorrow. Business insurance may sound complex, but it is easy to obtain. Searching for the right insurance companies, getting different insurance quotes, sorting them out and buying the right cover for your business is straightforward. But, before anything else you need an insurance guide to make good choices.

What Is Insurance?

In reality, most people do not consider insurance, however it should be an important consideration. Through insurance guide, business insurance gives a peace of mind and the policy you purchase needs to meet all your business needs. It is important to consider that all businesses face uncertainties. From the civil disobedience of employee, federal investigations up to the accusations of shareholders, companies and their executive decision makers should insure themselves against alarming risks. Business insurance should be viewed as a necessary commodity expense because it plays an important role in the continued success of every business.

Understanding the requirement for liability insurance is so easy when you have an insurance guide and below are the different types of small business liability insurance.

Liability Insurance

This insurance covers the employer against any harm. As a result of malpractice within the organization, the liability insurance covers faulty products sold/manufactured by the services provided by the company.

Commercial Liability Insurance

This has 3 primary parts. Thinking with these 3 parts can help you understand the needs of your business. All people are different and its best to discuss their specific needs by having an insurance consultant.

Premises Operations Liability

Premises operations liability is the liability coverage combined with the location where you conduct business. This can range from falls and slips around the premises to injury caused by the equipment used in the business on location.


Public Liability Insurance Cover

This insurance guide is important for the business. The most common accident that results in the claim for public liability insurance is customers’ trip or slip. For example, the floor is wet and no warning signs have been marked, the customer falls and become injured, he or she can claim for compensation.

Media Liability Insurance Coverage

This insurance guide is crucial to members of the press. Anyone in the business of communicating and gathering information, whatever medium of communication or type of information is involved, incurs significant liability exposures, specifically in this era of heightened media. Unfortunately, beforehand, this coverage continues to be available only to big media entities such as broadcasting and publishing companies. Freelancers and the rest of media professionals and individual communicators have been left to hope they are covered, but ended up not getting anything. Small business liability insurance is critical for entrepreneurs. Small business public liability insurance and the liability insurance of the employer have become essential for business owners to prevent lawsuits leading to bankruptcy. Lots of insurance brokers present competitive small business insurance coverage for this matter.

The Companies Today

Health clubs were the first one to pair fitness with business, today a whole new set of businesspeople is bursting with health and fitness and most of them are women. This new class of entrepreneur gives insurance guide and is moving away from the tradition of working as a trainer or instructor for someone else, and ended up expanding his or her potential success by starting her own training or studio business.

For non-profit groups and business, getting the right insurance is necessary for thriving and surviving in a world that is filled with risk and opportunity. Insurance guide includes the right amount and type of insurance. Both of which provide some financial support to organizations that are navigating their way to the broader world of business. For instance, the more complex the legal scheme, the more it causes conflicts, so the insurance is needed to protect the business and its employees from lawsuits.