Category Archives: Personal Finance

Personal Finance

Research: 53% of HNWIs relocating or intending to relocate would expect online banking to be part of an international wealth management proposition

LUXEMBOURG, Nov-16-2017 — /EuropaWire/ — New research from The OneLife Company reveals that ensuring investments are tax efficient and managing international tax commitments are among the top financial priorities for internationally mobile HNWIs. In spite of this, fewer than 40% of relocators feel that their investments are as tax efficient as they need them to be.

The insight points to the growing urgency for wealth managers to tailor solutions and services to international clients. One in four European HNWIs surveyed has previously moved countries to live or work, with a further 13% intending to relocate for the first time in the future. The appetite for international living is rising further among the millennial segment, with the number of relocators and future relocators under the age of 35 rising to 43% and 20% respectively.

The research, carried out in conjunction with wealth insights firm Scorpio Partnership, considered the views of 770 HNWIs from Belgium, Denmark, Finland, France, Portugal, Spain, Sweden, Switzerland and the United Kingdom. The average wealth of participants was EUR2.76 million.

Responses revealed that 46% of individuals relocating or intending to relocate would expect tax advice to be part of an international wealth management proposition. Notably, 27% would also require life assurance to be included within the product suite, with this figure rising to 39% among those under 35.

“Younger generations of clients are more likely to relocate and are clearly more cognizant of the range of benefits – such as portability – which life assurance can provide,” commented Marc Stevens, Chief Executive Officer at OneLife.

The findings also point to the significance of technology for the relocator segment. Online banking was the top requirement in an international wealth management proposition, with 53% of relocators saying this was necessary to manage wealth.

This was affirmed by the fact that individuals who continued to work with their primary wealth manager following relocation referenced quality of tools as the primary reason to stay with the firm. By contrast, a quarter of individuals changing wealth management provider following relocation cited lack of suitable digital services as a motivator to pursue a different relationship.

SOURCE: EuropaWire

New Book Explains How Consumers Can Waste an Average of $23,000 in Legal Fees

According to research, “Estate Planning Attorneys would rather just write up a will for few bucks now so they can make a bundle on probate legal fees later.” In his new book, “The 5-Minute California Living Trust” (free today on Amazon), Author & Non-Lawyer Tom Cox breaks down the legalease into plain English on how to avoid these unneeded legal fees entirely.

The average person pays $23,000 in legal fees during probate. These are attorney fees that are completely unnecessary and avoidable. The 5-Minute California Living Trust shows how to avoid probate and take that $23,000 and put it into something more important, like your kids’ or grandkids’ college education or down payment for a new home.

“The 5-Minute California Living Trust” is Free Today on Amazon at: http://www.amazon.com/dp/B00EV44WPA

For learn more, visit ZipLegal.org, the Home of the 5-Minute California Living Trust: http://www.ZipLegal.org

Join the conversation on Facebook at http://www.facebook.com/zipllc

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Another £400m Into RBS’ PPI Compensation Fund, Says Missoldppiclaims.info

The Royal Bank of Scotland has earmarked an additional £400m to cover the cost of compensation and refunds relating to mis-sold payment protection insurance (PPI), says leading PPI Claims Company Missoldppiclaims.info.

The nationalised bank has released figures for the last quarter showing a pre-tax loss of£1.26bn, a proportion of which is due to the allocation of a further £400m to its PPIcompensation fund. In a move echoed around the banking industry in recent months, RBS now has increased its total PPI allocation to now stand at £1.7bn. However, it is unlikely to be the end of the compensation claims for the beleaguered bank.

Its recent computer problems resulted in significant numbers of RBS, Natwest and Ulster Bank customers being locked out of their accounts for days, a mistake which has cost£175million so far with a further £50m of compensation put aside.

RBS is also part of an investigation by regulators in the UK, US and Asia – including the fraud division of the US justice department – over the part it played in the manipulation of the LIBOR inter-bank lending rate. With settlement negotiations imminent, the fines that could potentially be applied RBS believe could have a “material” impact on the company.

Despite the problems, RBS showed operating profits for the third quarter increased from£650m to £1bn, while bad debt fell by £159m and staff costs were 5% lower due to a 7% reduction in staff.

Stephen Hester, chief executive of RBS, said: “The extraordinary challenges which RBS faced following the financial crisis are being worked through successfully. The five year restructuring plan is now in its later stages with important work still to do, including an emphasis on dealing with reputational issues now that the bank’s safety and soundness has advanced so well.”

A spokesperson for leading PPI Claims Management Company, Missoldppiclaims.info said: “It’s good to see RBS recognising its responsibilities towards customers that were mis-sold PPI policies, in particular the responsibility to put customers first and treat them fairly. This can be seen in its decision to increase lending to its business customers even though there was a downturn in loan applications, but it would be good to see a similar helpful response to borrowing for its non-business customers with personal loans and residential mortgages.

The reputational issues Mr Hester refers to are likely to be industry criticisms that RBS customers play second fiddle to the short-term interests of shareholders and staff. As a result, RBS has relaxed its lending position towards its small and medium (SMEs)businesses, which has led to a an increase of new lending by 3% since the second quarter despite a 25% drop in SME loan applications due to the Olympics and doubts over the stability of the UK economy.

Analyst Richard Hunter, head of equities at Hargreaves Lansdown, said: “There is no doubting the immensity of the task RBS has faced in executing its turnaround plan, nor indeed the progress made so far.”

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Confused.com Reveals That 1 in 3 ‘Worth More Dead Than Alive’

1 in 3 people in the UK (34%) say they are ‘worth more dead than alive’ according to new research by Confused.com, but 40% of people in the new study say that they have dependents who could not pay the bills if they died, and nearly 60% do not have life insurance.

A new, short zombie film made by Confused.com hammers home the message that once people are gone, it’s too late to think about life insurance, which is sad for the poor zombie who is patiently waiting at home for a financial adviser.

However, nearly 60% of the UK (59%) told Confused.com that they do not have a life insurance policy, despite the fact that 64% do have a mortgage which they have not yet paid off.

Insurers in the UK pay out £37 million every day to help dependents cope with the death of loved ones, according to the Association of British Insurers (ABI) but despite this, more than 1 in 10 people surveyed (11%) admitted that their loved ones would be without a home if they died. This strongly suggests that many may not protect their families through life insurance or savings.

30% of couples have a joint mortgage, while 57% have a joint bank account. This could mean they’d have to take on joint debt on their own if their partner died without life insurance.

Matt Lloyd, Head of Life Insurance at Confused.com explained: “A debt such as a mortgage should ideally be backed up with life insurance so that it can be paid off in part or in full if one of the mortgage holders should die. The loss of a loved one is a stressful time without having to worry about not being able to afford the mortgage bills.”

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Barclaycard research reveals just how much the British are embracing the trend of self-gifting

New research* has revealed the British public are taking it upon themselves to get the things they really want by self-gifting.

Research commissioned by Barclaycard shows that over half of us (58%) believe it’s the thought that counts when receiving a gift but one in six (16%) would rather have chosen the gift themselves. Almost half of Brits (43%) have indulged in self-gifting around Christmas or birthdays at one time or another while one in ten (10%) say they always do.

The most popular reason for the new trend is simply people wanting to ‘treat themselves’ (44%) as it seems family and friends aren’t as good at present buying as many would like with almost a quarter (23%) admitting they indulge in self-gifting because ‘it’s the most sensible way to get what they want’. Even more surprising is that this rise in self-gifting comes at a time when almost a quarter of families (23%) are planning to reduce the amount they spend on gifts this year due to tighter economic conditions.

The top 5 most popular self-gifted gifts in order are: clothing and footwear; TVs and music equipment (including iPods, iPads, laptops); alcohol and tobacco; recreation and culture, and restaurants and hotels

When asked how they are able to afford their treats a large proportion said they are embracing cashback, points and mileage schemes (36%). Women are much more likely to use loyalty programmes to treat themselves (30%) compared to men (17%), which makes sense since the research showed that almost a quarter of women see indulging in self-gifting as a guilty pleasure, compared to just 13% of men.

Nick Clements, Managing Director at Barclaycard UK explained: “We took time to speak to our customers to understand how they want to be rewarded when they spend. Choice and value came out as the key to meet people’s needs.

“We know that purse strings are being tightened and we also know that people like to treat themselves and their families. The new Barclaycard Cashback card helps you do just that. The only thing we can’t help out with is what your loved ones want to receive this festive season.

“Our Cashback card is built on choice and simplicity, giving customers 2% on their five biggest monthly purchases and 0.5% on everything else. Our Cashback card puts you in control of what you get the 2% boost on each month; unlike other cards that only give you a bonus for certain types of spend. All customers need to do is make fifteen purchases a month, of any amount to qualify for the 2% cashback rate.”

For more information on the Cashback card; visit: www.barclaycard.co.uk/cashback

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Confused.com reveals that men named Brian have the best credit profile in the UK

Confused.com has revealed men named Brian have on average the best credit profile in the UK, while for ladies it is Helen.

In contrast, the first name with the poorest average credit profile is Lisa, while the male equivalent is Daniel.

Confused.com, the comparison site, analysed data from thousands of its customers who have used its free Credit Card Matcher Tool this year to reveal the names with the best and worst credit profiles in the UK. Confused.com is urging consumers to think about their credit history before they apply for a credit card, as a rejected application can negatively affect your credit score.

When it comes to surnames, people with the last name of Edwards have on average the best credit profile in the UK. Meanwhile, the surname with the lowest average credit profile is Thompson.

As well as a credit name lottery of sorts, the research reveals the existence of a postcode lottery when it comes to good and bad credit. The UK postcode with the highest average credit profile among its residents is SL4 in Slough. Meanwhile, SA1 in Swansea – the postcode with the poorest average credit profile – has a score 10% below the national average.

The research shows that age also makes a difference when it comes to credit scores as on average people’s credit history improves as they get older. Average scores for people aged 65 and over are 8% higher than the national average, according to the research. Meanwhile, the age bracket with the worst average credit profile is 18 to 24 – 4% lower than the national average.

Nerys Lewis, head of credit cards at Confused.com, said: “While our research shows the names with the best and worst credit profiles in the UK, people’s names are obviously not a rating factor when looking at credit. So if you’re called Brian you won’t automatically be gifted with a great profile, or penalised because your name is Lisa.

“We would encourage people to think about their credit history as a good or bad score can have a number of implications, such as your likelihood of acceptance for credit cards and also loans and mortgages.

“There are certain things you can do to improve your situation if your credit history is non-existent, or not quite up to scratch. For example, a credit building card may be one option. By using a credit building card sensibly, you demonstrate to lenders, such as banks, that you can borrow and pay back money responsibly. This in turn helps to build up your credit history.”

Confused.com’s Credit Card Matcher Tool allows people to check their likelihood of acceptance for a credit card before they apply.

Lewis added: “By using our free Credit Card Matcher Tool, people can potentially avoid a negative credit card application. If you apply and are not accepted then a lot of people aren’t aware that this can harm your credit score.”

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Confused.com reveals the benefits and dangers of Baby on Board signs

Confused.com has teamed up with Brake, the road safety charity, to highlight the benefits and dangers of ”Baby on Board’ signs and remind parents about safety for younger passengers.

37% of parents (almost 2 in 5) have displayed a ‘Baby on Board’ sign either currently or in the past. Now it’s time to find out if they are a help or a hazard. Confused.com’s new research among 2,000 drivers (50% of whom have children under 16) found that 80% of the parents who use baby on board signs think they improve safety, while 46% of drivers said that ‘Baby on Board’ signs obscure vision when driving.

Confused.com’s research discovered that clutter is a concern among many drivers, and having too many novelty items displayed could be a safety issue. 51% of all those questioned said they think other drivers display too much clutter in their car windows, such as stickers and novelty items. 15% of drivers who do exhibit these signs admit they do so simply because they are a cute/novelty item while 4% only display one because they received it as a gift.

Brake’s experts have confirmed that window clutter can be an issue on the road, but acknowledge that baby on board signs can also have a safety benefit.

Julie Townsend, Deputy Chief Executive at Brake, said: “Baby on board signs can be incredibly helpful for emergency services at the scene of a crash in knowing whether there’s a child involved, but this help can become a hindrance if drivers display signs when their child isn’t in the vehicle. Worse still is the danger that can be posed by drivers obscuring their view by cluttering up windows with lots of signs. Drivers’ priority should always be getting there safely, without putting themselves, young passengers or other road users a risk. That includes ensuring your view isn’t obscured and you remain fully focused on the road.”

The research also found that drivers who have never displayed a ‘Baby on Board’ sticker or do not drive children around are more likely to think the signs are tacky (34%) or dangerous as they obscure vision (18%).

Meanwhile, 46% of people who drive kids around say they have driven with a ‘Baby on Board’ sign and 22% of these say they always display the sign.

Confused.com’s survey also reveals that 14% of parents with under-16s think ‘Baby on Board’ signs are uncool/not trendy and 33% of drivers think the signs are ‘tacky’. Interestingly, it’s women who are most likely to disapprove of the signs, with 35% of women questioned saying the signs are ‘tacky’ while only 31% of male drivers felt the same.

The research also found that a quarter of parents aged 18-24 (who have young children) always display a ‘Baby on Board’ sign when they drive. This age group is also most likely to display novelty stickers in their car window, compared to drivers of other ages. 18-24 year-old drivers are least likely to say that other drivers display too much clutter in their car windows.

Via EPR Network
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PaydayLoans@ Company Provides Faster Application Procedure

Money has always been an issue for some category of people. It has always been hard to earn money and to save it. Even now after several hundreds of years later the situation is basically the same. Nothing has changed. Even now people have the same financial problems when they lack money and are not able to find a way-out. A sudden urgency may occur when the person does not obtain a required sum and he/she does not know where to find the required funds.

Still, a perfect way-out has been found out. Taking into consideration all the financial and life obstacles in the modern society it is quite difficult to stay on top of the financial life. That is why the companies that have deal with small loans, have thought over every possible point to make the procedure even easier that it used to be.

PaydayLoans@ belongs to the privileged group of the companies with a friendly and highly professional staff. It suggests its customers the most convenient way to receive the payday loan online in a hassle-free and fast way. There is no need to gather all the personal and financial documentation into one file and drive it or send to the bank. The only thing is required is an Internet connection.

To order a loan till payday at PaydayLoans@ company is the most simplified way to do this. The usual procedure is about fulfilling a simple online application form, submitting it, waiting for a reply from a lender by phone or via e-mail, receiving money in 24 hours. Money will be automatically sent and withdrawn from the customer’s personal bank account.

Instead of roaming all over the city looking for the appropriate bank which will agree to give a small loan, it is so much easier to find a site of PaydayLoans@ company and fulfill an easy application form online. The entire process takes approximately ten-fifteen minutes of time and is simplified as much as possible. For more information read this article regarding the service offered on the website.

A lot of people were hesitating at first while applying for the payday loans, but later on they had realized that those loans were the most convenient way-out of the tough financial issue that might occur to anyone.

Via EPR Network
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NRMA Insurance To Offer Life Insurance

NRMA Insurance’s alliance with life insurance provider TAL will see TAL provide life insurance policies on behalf of NRMA Insurance, with customer policies managed by TAL.

NRMA Insurance Chief Executive Officer Andy Cornish said that the alliance would help make life insurance more accessible for customers.

“Underinsurance is a problem in Australia with around 95 per cent of people not holding adequate life insurance.*

“Our alliance with TAL allows us to address this by offering easy to understand andaffordable life insurance, as well as greater access as customers can purchase life insurance through all of our existing sales channels.

“TAL, like NRMA Insurance has a long and proud history of helping Australians protect their assets, and offer security for them and their families.”

Mr Cornish said the alliance means NRMA Insurance can utilise the expertise of TAL to offer its customers another important insurance product, while also continuing to focus on their core suit of products.

“This alliance will allow us to continue to grow our multi-product, multi-channel strategy,” Mr Cornish said.

TAL Direct Chief Executive Officer John Hoyle said NRMA customers will experience a seamless delivery of high quality service.

“TAL is the market leader in direct life insurance and has a history of successfully partnering with non-life insurance businesses to provide greater access to life insurance for their customers.

“The alliance is a significant partnership. The products and services we provide for NRMA Insurance will be to the same high standard TAL applies to its own business,” said Mr Hoyle.

NRMA Life Insurance is available from 9th October 2012 and customers can purchase online, in an NRMA office or by calling 132 132.

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With Gold Prices on the Rise, MyGold Says Now is a Great Time to Buy

An unexpected appreciation in the value of an item will most certainly attract the attention of investors and traders. At the moment, gold is at the center of attention, settling at $1,779 this week, with prices traded up to $1,784 per ounce. Analysts believe the price of bullion will easily reach $2,500 next year as central banks continue to launch cheap money policies and liquidities increase in global markets.

Financial experts believe that the price of gold could hit such an all-time high once the third phase of quantitative easing begins in the United States. If QE3 will further weaken the US dollar, central banks from all over the world are expected to switch a large part of their cash reserves into gold. In the first half of 2012 alone, central banks have purchased 254 tons of gold and the numbers could easily double by the end of 2012.

“Now it’s the best time to buy gold and silver bullion”, says CEO and owner of MyGold, an independent merchant of precious metals based in Auckland, New Zealand.“All investors consider gold a safe haven and a store of value. The risks in the currency market and the financial environment after the events of 2008 have increased investors’ attraction for gold. When all other assets turn out to be risky, gold is the only safe investment”.

Buying gold and silver from MyGold is made easy for customers through their user-friendly web interface and irreproachable customer service. All clients have to do in order to buy gold from MyGold is to access the range of bullion available on their homepage, fill out the enquire form and discuss all further details of the order with one of their customer support representatives. Customers describe their service as prompt and highly professional:

“Being a first time investor I was a little bit nervous about buying through a website, but the team at MyGold were happy to answer any and all questions I had to settle my nerves. Plus they keep in contact through the whole process, especially from purchase to delivery, the most important part. I am looking forward to the future when I can sell mygold bullion back to MyGold and perhaps buy more gold bars through them. One happy customer!” – Tyson.

Customers who want to learn more about the silver price or are interested in finding out how they can buy gold in NZ from MyGold can visit http://www.mygold.co.nz/

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Prudential Reveals Almost Half Of UK Business Owners Have No Pension Savings

Almost half (46 per cent) of UK business owners* – or 1.3 million** people – have no private pension savings to support them in retirement, according to new independent research from Prudential***.

Of those who have failed to make any private pension provision, more than half (54 per cent) said this was because they simply could not afford to set money aside. Nearly one in five (18 per cent) say they don’t have a pension because they will never retire, and 9 per cent claim they have sufficient funds in a company pension from previous employment.

Nearly one third (29 per cent) of business owners, or 792,000 people, say they will be entirely reliant on the State Pension when they come to retire, compared with just 16 per cent of people across all employment types retiring this year in the UK****.

Other self-employed workers will supplement their retirement incomes with money from a mix of alternative sources: 48 per cent will draw on other savings and investments, 25 per cent will use equity from their properties, 25 per cent plan to use their partners’ pensions, and 19 per cent
plan to use funds from the eventual sale of their businesses.

Prudential asked those business owners who don’t have a personal pension whether they plan to start one in the future and the majority of respondents (63 per cent) said no. Only 13 per cent said they were planning to start a pension and just under a quarter (24 per cent) were undecided.

Stan Russell, retirement expert at Prudential, said: “It’s sometimes hard for self-employed workers to distinguish between their business and personal finances. Often, investing in the business takes priority over saving for retirement – an issue that is particularly prevalent now, given the tough economic conditions facing UK businesses.

“Unfortunately, the long-term implications of not saving for retirement are that many retirees will have a real income shock and reduced living standards when they finally retire. And while a number of business owners say they don’t need a pension because they’ll never stop working, this optimistic approach won’t always be realistic – for example because of health issues later in life.

“Although some business owners plan to supplement their retirement incomes with alternative sources of finances, a large proportion will be entirely reliant upon the State Pension – which should actually be a safety net, not a default source of income.”

Saving into a pension has become a lower priority for those business owners who do have some dedicated retirement savings. The survey found that more than a quarter (27 per cent) of entrepreneurs with pension savings had put their personal contributions on hold since the start of the economic downturn.

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Barclaycard Makes Everyday Spending More Rewarding With Two New Reward Cards

Barclaycard has announced the launch of its Barclaycard Cashback and Barclaycard Freedom Rewards cards, both designed to make it easier for customers to get value and rewards on their everyday spend, without changing the way they shop.

The Cashback card is built on simplicity, giving customers four times more cashback on their five biggest monthly purchases, with no tiers or thresholds. Customers earn 2% on their five biggest monthly purchases and 0.5% on everything else. All customers need to do is make fifteen purchases a month, of any amount to qualify for the 2% cashback rate.

When customers take the card out they receive a welcome bonus, giving them the opportunity to earn 6% cashback on their five biggest purchases each month for the first three months. Every year, in the month after the anniversary of taking out the card, customers also get an enhanced 4% rate on their top five spend , irrespective of how much they’ve spent on the card the year before.

If the average family puts all their spend on the Cashback card; in the first three months alone, they could earn a maximum of £120 cashback, easily covering the annual card fee of £24.

Launching at the same time is the Barclaycard Freedom Rewards card. It lets customers collect points on everything they buy on the card. They can redeem points at around 70 reward partners including retail giants, online favourites, restaurants and fun family days out.

The Freedom Rewards card has a broader range of high street reward partners than any other reward card in the market. Partners include Marks and Spencer, Topshop, Currys PC World, iTunes, Amazon, Starbucks, Strada and Leisure Voucher partners Legoland to LA Fitness.

The Freedom Rewards card gives double points on spend at any UK supermarket and petrol station and triple points at selected Freedom partners.

Nick Clements, Managing Director for UK Consumer Cards, Barclaycard, said: “We took time to speak to our customers to understand how they want to be rewarded when they spend. Choice and value came out as the key to meet people’s needs.

“For the average UK family budget, one in three pounds is spent on the weekly shop and filling the car up. As a result, the Freedom Rewards card offers double points on any supermarket or petrol spend. Our customers want the flexibility to look for the best value without being tied to shopping at just one brand, and the Freedom Rewards card offers that flexibility.

“On our Cashback card, we designed it to boost the earning rate of cashback on the top five monthly purchases, because our customers’ top five purchases accounted for around 50% of their overall monthly spend. We want to give customers the flexibility to be rewarded at the higher rate, regardless of what they’d bought.”

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Research Show 4.4 Million over 21s Still Rely on the Bank of Mum and Dad, reports Bower Retirement Services

Research from LV = reveals 4.4 million over 21 year olds still borrow money from their parents. The average monthly donation from parents to adult children is £175. This is used to cover rent, bills and help pay off debts. Additionally £9,476 is awarded to fund weddings, holidays, further education and to help young adults get onto the property ladder. Although it helpingyoung adults is hardly surprising, the research revealed parents expect to continue to support their ‘children’ until the age of 38, now the average age of a first-time property buyer.

This obviously puts great financial strain on Britain ‘s parents. It eats into retirement funds and one in ten parents surveyed by LV = admitted they had spent everything they had on their children. The issue isn’t going to go away soon, particularly if predictions that the average age of a first-time buyer will be 41 by 2025 are correct.

Parents need to prepare for the future early to ensure they are well equipped financially to provide for themselves and help out their grown-up children when necessary. There are several options available, but with interest rates currently being so low, saving plans aren’t the most viable option.

Equity release plans are a more effective option for homeowners. Bower Retirement Services, an award-winning equity release advice service, can help homeowners find anequity release plan that’s right for them.

There are four types of plans available: lump sum lifetime mortgages; lifetime mortgage with flexible cash release, also known as a drawdown mortgage; interest only lifetime mortgage and home reversion plans.

The most suitable, and now the most popular comprising 68% of the market, are drawdown plans. Homeowners are lent money based on their property’s value and additionally can withdraw regular cash amounts at a frequency and value chosen by the individual. Interest is charged, but it’s only repaid when the homeowners die or move into permanent care. These mortgages allow parents to look after themselves during retirement but also offer the ability to provide assistance to their offspring.

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Equity Release Becoming Popular Retirement Fund Solution for Baby Boomers, say Bower Retirement Services

The total value of equity release advances from April to June 2012 was £224.8 million, reported the Equity Release Council, an increase of 22% on the same period of 2011. Additionally, this amount represents the highest quarterly figure since 2009 (£231.7 million). Furthermore, the real number of plans grew by 16% between Q2 2011 and Q2 2012 showing interest in the market is up, along with actual value.

According to the Equity Release Council’s figures, people are now choosing to take drawdown plans instead of lump sum mortgages. This shows they prefer to spread risk and use equity release as a retirement income. The news comes as its revealed retired homeowners now have a total unmortgaged property wealth of £756.7 billion.

Bower Retirement Services, which offers award-winning specialist equity release advice, says equity release is a simple and effective option for homeowners looking to provide for their retirement and it exploits the property price rises of the last forty to fifty years. Many in the baby boomer generation lost large amounts in pension blunders in the nineties and again in the last recession. However, thousands continue to be locked up in property, potentially providing a retirement income for homeowners.

Bower Retirement Services offers advice on all types of equity release, from lump sum lifetime mortgages to home reversion plans, and its equity release calculator is designed to help homeowners accurately gauge how much cash they can expect to release on each type of plan.

There are four types of equity release plan, but drawdown plans now the most popular, accounting for 68% of the value of the entire equity release market. Bower Retirement Services says these types of mortgage are most suitable to homeowners looking to provide themselves with an income during retirement. The lender loans the homeowners a percentage of the property’s value and also agrees to pay a regular cash sum, or ‘drawdown’ on the mortgage value. Interest is accrued, but it is not charged until the homeowners die or move into long term care. Homeowners choose the term and value of the drawdowns, offering more flexibility than a standard remortgage plan.

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Confused.com Reveals That A Third Of UK Workers Admit Pulling A Sickie

Confused.com has revealed more than a third of workers (35 per cent) admit having lied to their boss about the reason they have missed work. Popular excuses workers use to pull the wool over their employer’s eyes include flu, stomach aches, diarrhoea and bad backs. However, the astonishing number of people who still go into work when they are actually unwell implies a dangerous culture of ‘presenteeism’.

The poll of 2,000 UK workers also reveals the top five professions where people are more likely to make up an excuse to their boss about missing work. These are call centres (54 per cent), utilities (47 per cent), the voluntary sector (45 per cent), health (43 per cent) and fashion and design (42 per cent).

Meanwhile it also highlights the regions where workers fib the most too. These are East Anglia (40 per cent), the East Midlands (38 per cent), the North East (37 per cent) Yorkshire and the Humber (37 per cent), and the South East (37 per cent).

Despite many employees making up excuses to have a day off, many more still soldier on and go in to work despite feeling unwell. More than half (55 per cent) of people polled said they had gone into work when they felt too ill to do so because they were worried about what their boss or colleagues would think.

Confused.com is warning UK workers to consider what protection they have in place in case long-term illness does strike. Matt Lloyd, Head of Life Insurance at Confused.com, said: “Our research suggests that the culture of turning up to work ill is more of a threat than ‘pulling a sickie’. It is very worrying that workers are not prioritising their own health and feel that they cannot take a day off sick when they are genuinely unwell.”

Matt Lloyd continued: “With many people experiencing a lack of job security over the last few years, it’s a really important time to think about protection products, such as income protection and critical illness cover, especially if you have dependents such as children or you have regular payments to make such as a mortgage.”

The research also shows that women are more likely to worry than men about taking time off sick – 64 per cent say they have been into work when they felt ill because they were afraid their boss wouldn’t believe them. Nearly half (47 per cent) of men said the same thing.

More than one in 10 workers in the UK has missed work due to a hangover, according to the study. People from the North East are most likely to miss work after a heavy night out – 15 per cent of workers polled from the region said they had missed work because they were hungover.

Other common reasons why people had missed work include simply staying in bed to catch up on sleep (10 per cent).

Via EPR Network
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Payday Loans UK Have Announced That They’ve Added A Further 10 Payday Lenders

If you’ve ever tried to find a good payday lender before then you’ll more than likely know how difficult that it can be to find a lender that suits your own particular borrowing needs as they all have different lending critera and terms. However, instead of going from one payday lenders site to another you can now just use a service like the new one offered by www.paydayloansuk.org.uk to compare multiple lenders at once.

Payday Loans UK compare loans from more than 30 different payday lenders so that you get the best deal but over the last few days Payday Loans UK have announced that they’ve added a further 10 payday lenders to their site.

Speaking on behalf of Payday Loans UK, Russell Beech said “We’re delighted that we’ve teamed up with another 10 lenders so that people have more of a choice to choose from when using our site”. As well as this, Russell also commented that Payday Loans UK “plan to add even more payday lenders in the near future too”. This is great news for consumers as more competition usually leads to more competitive prices so the APR that these companies charge will almost definitely come down very soon.

Not only this, but many of the new lenders that have been added to Paydayloansuk also have a swift payment option which basically means that if you get a cash loan with one of these companies you could have the money that you borrowed within just 15 minutes!

Via EPR Network
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PaydayLoansAt.com Launches Online Loans With Direct Processing

There are so many different options to get money when there is a need: to rob a bank, for example. Still this act will be considered as illegal. PaydayLoans@ company suggests its customers most important, a legal, easy and the most convenient way to get money in a fast and hassle-free way.

No documentation, paperwork and gathering all the information will be required from the consumers as the service is totally faxless and online. That is the reason why the payday loans online at PaydayLoans@ are so well-utilized by the clients. Most people have got a very traditional type of
thinking. Therefore when they are asked of the place where they are able to get a loan, even a small one, they will answer that this perfect place is bank. The trick is that they are mistaken. They will never get small loans at the bank. Still a customer will have to collect all the paperwork concerning his/her personal and financial data, and even some more that does not have any sense.

That is why one of the best and most experienced companies such as PaydayLoans@ has improved its brilliant service of the payday loans online. It has made the loans with same day processing. So, now it is possible and extremely easy to avoid all the fuss and receive an approval at the same day.

Generally the procedure of getting a loan till pay day is all about ordering the required funds till the salary arrives. And when it does, the given money will be automatically withdrawn from the personal bank account. Such kinds of loans are very popular nowadays as there is no credit checking provided by the direct payday lenders.

The process involves several steps. Firstly, there is a necessity to fulfill an application online that is on the company’s site, which consists of several basic questions that will take the customer just 10 minutes and no longer. After having submitted the form, it will be automatically sent to the lenders and they will decide about the customer’s approval. But there are no reasons to worry, for the service is very democratic and loans are given almost to everyone. Having got an approval, the customer will be informed by phone or with a letter via e-mail. He/she will be contacted within one-two hours. That is the newest achievement of the company as then money will be transferred directly to the client’s personal bank account.

Via EPR Network
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LoanAdvances-PaydayLoans Reports Spike in New Applications and Reapplications

Loan Advances-Payday Loans has reported a significant rise in the number of loan requests that have been processed and approved over the last 2 years. This was the main gist of the performance report which was presented by Donna Millstone, Division head for short term loans and debts.

In a year to year comparative performance review, the company has posted a 74 percent increase in the number of payday loans that have been processed and approved, and of this number, nearly half of it is comprised by reapplications.

Millstone attributes these positive performance indicators to the strategic positioning by the company in the highly competitive market for subprime payday lending service which was anchored on topnotch customer support and high approval rates.

In a related development, QEC Money, an independent think tank that advocates consumer welfare and proper money management, has reported that the demand for payday loans and other similar short term loans has grown by nearly 60 percent over the last 6 months of the current year.

According to a reliable source within the group, this dramatic jump in the demand for short term loans is a clear indication that an increasing number of Britons are feeling the pinch and are constantly searching for ways to keep their heads above water. “In most instances, they have opted for a pre-payday quick fix,” the unnamed source explained.

LoanAdvances-PaydayLoans.co.uk has had a remarkable 37 percent approval rate since its entry into the subprime lending market. The loan requests are normally approved in less than an hour and borrowers can rely on a quick transfer of funds to their bank accounts. In addition to this, the company has also proven its mettle in providing fast and professional support and assistance to its clients for a wide range of concerns and issues.

“We adopt a cutting edge processing and referral system and we have a solid track record when it comes to our response to loan request of potential borrowers,” Millstone added. Known for its uncompromising advocacy for responsible lending practices, the company has continually endorsed applications and been transparent around costs for appropriate short term need for cash of prospective clients.

Millstone is quick to add that despite the criticisms and negative reports on this subprime lending service, it remains to be a popular and highly
proven financial tool for a significant number of Brits who are going through short term cash crunches.

“Our company and other providers of payday loans and cash advances are actually servicing the cash requirements of the segment of the market that is not actually served by banks and other similar lending entities,” Millstone explained.

Unlike banks and other similar lending institutions, www.loanadvances-paydayloans.co.ukis taking a different tack and assesses loan requests based on the monthly income of potential borrowers. The amount of loan provided by the company will not exceed that which can be paid back by the applicant within the specified payment period.

The demand for payday loans is expected to continue to rise until next year and the company assures its clients that it will maintain its current loan offerings and services and adopt the same approval rates to keep up with the requirements of its growing clientele.

Via EPR Network
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As More Workers Are Hospitalised For Stress, ActiveQuote.com Suggests Investing In Income Protection Insurance

With rising numbers of people being admitted to hospital due to severe stress, experts are urging UK workers to invest in income protection insurance to protect themselves against the health implications of the economic crisis.

New figures from the Health and Social Care Information Centre (HCIS) show that nearly 6,400 people were hospitalised with stress in the 12 months to May 2012.

Not only is this a seven per cent rise on figures from the previous year, but it represents a staggering 47 per cent increase since 2007-8 when the economic crisis first hit.

As the HCIS figures do not take into account people who visited their GPs, Accident and Emergency or sought alternative practitioners’ advice, experts believe the actual figure could be much higher.

Dr Richard Theo, of income protection insurance comparison website ActiveQuote, said: “Stress is the single biggest cause of sickness in the UK, affecting one in five of the working population and causing the loss of 105 million working days each year.”

“But stress is not just a condition in itself; it is also a trigger for a range of other health conditions, from mental illness, depression and anxiety to high blood pressure and heart attacks.”

According to the statistics, those of working age are most likely to be hospitalised for stress. Depending on the severity of their condition, sufferers may be unable to return to their job for a prolonged period of time.

With government illness and disability benefit only paying out a maximum of £99.15 per week to eligible claimants, the financial implications of being out of work for a long period of time can be serious.

Dr Theo recommends UK workers consider investing in income protection. He explains: “An income protection policy is designed to replace your income if you cannot work due to a long-term illness such as severe stress.

“Rather than relying on your savings or government benefits, an income protection policy will pay you up to 70% of your income every month, with some plans even paying out up until retirement. This type of policy could provide much needed peace of mind during a recession.”

But Dr Theo warns that income protection insurance is unlikely to cover pre-existing conditions. He said: “People who are looking to protect their income against accident and sickness should compare income protection quotes as a pre-emptive step to safeguard their finances in the future.”

Via EPR Network
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