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Protection helps ease post-Christmas stress

Many people find January a bit of an anti-climax after the excitement of Christmas has passed, not least because of the financial hit taken by most over the festive period.

Steve Payne, Managing director Friends Life

Although a growing number of consumers approached Christmas more frugally this year, searching websites such as eBay for bargains and even considering replacing Christmas gifts with an IOU, according to research by uSwitch, a growing number of people have resorted to extreme measures to make ends meet.

A recent report by Shelter revealed that one in seven Brits have used a payday loan or an unauthorised overdraft to help them cover their rent or mortgage payments.
This is a worrying figure and illustrates just how tight funds are for a growing number of Britons.

Although the feeling of drowning in bills is an unpleasant one, the charity has warned that those who find themselves sinking into a spiral of debt must seek help or risk losing their homes.

Owning a home is the one thing many people aim for. However, paying the deposit and securing a mortgage is only half of the battle.

Taking out protection insurance is the best way to ensure that the mortgage can be paid if your clients fall ill and are unable to work.

This can mean that even when everyone is feeling the January pinch, they can relax to a certain extent, knowing that their home and family are safe.


Unfair contracts may scupper lender moves to switch interest-only clients

The Financial Services Authority has warned lenders that they may not be able to switch interest-only customers to a repayment mortgage if the wording in their contracts is unfair. Last week the regulator issued guidance to lenders after it found a number of switching terms in their contracts may be potentially considered unfair or not […]

patrick bunton

AMI issues reassurance over chief’s departure

The Association of Mortgage Intermediaries says it is business as usual, following the announcement last week that director-general Stephen Gay is leaving. Gay joined the Association of Independent Financial Advisers and AMI in December 2011, but is leaving the trade bodies to take up the position of director of life, savings and protection at the […]

Platform plans to boost B2L lending

Platform is looking to increase its buy-to-let lending by a third in 2012. The Co-operative Bank-owned lender has ring-fenced £600m for buy-to-let for the year, up from the £450m it lent in 2011. Lee Gladwell, business development director at Platform, says: “Platform has many years’ experience in buy-to-let and we aim to be a preferred […]

Spring has sprung

Well, it’s been lovely to see a little bit of sunshine, even if it was only a brief appearance. I live in Scotland so, believe me, it was very brief.  Of course, with even the tiniest hint of spring, thoughts turn to the inevitable clearout that must take place.  And that got me to thinking […]


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