FINANCE

GIRLS JUST WANT TO HAVE FUNDS

Despite much progress Financial Advice tends to be a male dominated industry with a focus on men’s wealth. Too many women still put their financial future at risk by leaving their partners to handle the finances. There are many differences between men and women’s financial experiences and yet women’s need for advice is often greater than men. Despite this only 36% of women seek financial advice. When a client meets a financial advisor, they should look for someone who has empathy, shared experience, someone they can share their money worries with, without fear or ridicule or explanation and someone who understands their dreams and visions. Not to say a Male IFA cannot adopt this approach with success – the woman in need of advice may see it differently. Women as investors are generally more risk aware and prefer outcome and goal- based investing by focusing on the outcomes of their investment decisions. Due to this women should seek an adviser who uses this approach. Women face different pressures on their finances both from society in general and personal circumstances for example; The gender pay gap has not quite vanished and is much more evident once women start families. Gaps in working life will not only affect income but vastly reduce pension provision. Divorce rates are 42% Women may need expert planning when it comes to divorce and pension sharing orders, investment of assets received as part of divorce settlement and changing income needs. A staggering oversight is that 3 out of 5 divorces don’t even discuss pension sharing as part of settlements. On a positive note - The balance of wealth is shifting, mainly due to divorce and the fact that women outlive men. Women are realising that their financial needs are different to men and seek a more holistic and objective based approach to advice often offered through a female financial advisor. Don’t shy away from decisions that will have a major impact on you or your family, the legacy you want to leave and the causes you want to support. Taking steps now means you are preparing for the future.

PIPPA VAUGHAN-AVERY Independent Financial Advisor at Abacus Assurance Call 01656 772222

FEELING DEFLATED BY INFLATION?

Rarely can a situation like the present have had greater significance, as far as most of us can remember. With Russia continuing its assault on Ukraine having set the tone, we see inflation spiralling on an upward trajectory probably no-one could have imagined just a few months ago. With the price of oil and gas scaling heights that are putting household budgets under enormous pressure, we are also seeing a slowdown in mortgage activity as lenders tighten criteria once more, hence making getting the right deal more difficult. Don’t get me wrong, there is still plenty of mortgage money available for those that tick all the boxes and with large numbers of people looking to build onto their current homes rather than settle for another property that may be proving elusive, this can only help in bringing prices down a touch. During the last twelve months we’ve seen a kind of bidding war between prospective purchasers, with some people paying way in excess of asking price rather than losing the intended purchase but maybe now we’ll see some common sense creep back in – everything has a cycle and seeing prices stabilising, even by a modest amount, can bring a sense of perspective back to the market. To assist purchasers, particularly the younger generation which is trying to get on the ladder, some lenders are now offering extended maximum mortgage terms and often with larger loanto-value, based of course on affordability. For those in retirement also, we’ve seen interest rates edging up a touch although people with older lifetime borrowing or equity release schemes can still potentially save thousands of pounds in interest by switching to lenders with much cheaper interest rates and offering the option of paying the interest and making overpayments of as much as 12% of the capital per annum without penalty, something which was unheard of just a couple of years back. With movement in the mortgage market seeing sometimes daily changes, we can assist you with our whole of market service. All you need to do is ask and we’ll help you find the best deals for first-time purchasers or take a look at your current arrangements if you’re older with ongoing mortgage needs. Call us on 01656 782545 or 07768 418308, anytime even at weekends

PAUL FIELDING Dragon Financial 01656 782545 / 07768 418308

Independent Mortgage and Protection Advisers

We are the Specialists to call...

Need a new mortgage from a whole of market Adviser? Over the Age of 55 and need Later Life Lending or Equity Release? • Refused a mortgage due to Previous Credit Problems? • Trying to get on the ladder as First Time Buyers? • Life Assurance and Family Protection need reviewing? • Income protection a problem – not available from work?

Funeral planning? - pre-paid plans to suit everyone We also work with trusted, qualified financial partners in other areas of financial needs

CALL US ON: 01656 782545 MOB: 07768 418308 / 07960 613111

EMAIL: camfin@btopenworld.com

APPOINTMENTS AT A TIME TO SUIT YOU, EVEN AT WEEKENDS – HOME VISITS