Are you due a Financial MOT?

Financial MOT

Whilst we regularly service our cars, we don’t always pay attention to our money. Are your finances in good shape? Or are they in need of a tune-up? If you’re not sure about the diagnosis, it’s time to get a financial health check.

Are you getting the best mortgage deal?
It’s worth reviewing your mortgage from time to time. With interest rates likely to rise sooner rather than later, it makes sense to consult your Financial Adviser as there may be a more suitable deal available for you.

Are you using all your tax breaks?
The annual limit for New Individual Savings Accounts (NISAs) is, from July 2014, a massive £15,000. NISAs represent an excellent tax-efficient way of saving, so don’t miss out on this major tax advantage. Pensions offer generous tax-breaks. If you are a basic-rate taxpayer making a pension contribution of £10,000, this will in effect only cost you £8,000, once income tax relief has been applied. If you are a higher-rate tax-payer, the net cost to you would be just £6,000.

Is your pension plan in good shape?
Everyone should ensure they are maximising their pension contributions. If you’re due to retire shortly, it’s worth talking to your Adviser about the changes in legislation which come into effect from April 2015, which give you more options for your pension pot.

Is your will up to date?
Having no will means that your assets, money and possessions may not end up where you intended if you die. If you have a will, but your circumstances have changed through marriage (which would usually invalidate it) or death of a spouse or other life-changing event, it’s worth reviewing the content and ensuring it reflects your current wishes.

Do you have enough life assurance?
Do you have the right cover? Our life assurance needs change as we get older. Your Financial Adviser can help by reviewing your policies and highlighting areas of risk.

Take a look at your savings and investments
Savings and investments you acquired a while back may not meet your current financial needs or represent the best currently available.

It makes sense to review your finances regularly with your Financial Adviser to ensure they’re running smoothly.


Will writing and estate planning services are not regulated by the Financial Conduct Authority