As things change...
A great deal can change over the years which will impact your financial planning. Changing jobs, having children, moving home or upgrading your current home can have significant impact on your outgoings. And then there's coronavirus!
A new job will likely mean a salary change (hopefully up the way!) as well as either the loss or addition of various insurance benefits such as sick pay and life cover. We can review the benefits your new employer provides and look to ensure that you are not paying for something that you may have set up separately you no longer require due to being covered through work. Equally, we can also offer advice if you find yourself in the position that you have lost benefits that you previously had with an old employer, leaving you without cover for important areas such as loss of income through ill-health or worse.
Becoming parents or having more children can force us to review our priorities including looking at the possibility of “what if anything happens to me”. It’s not a pleasant thought but it’s important you have peace of mind that you are covered financially if you become unable to work for a period of time or even permanently. We can assist with putting plans in place to ensure financial stability for you and your loved ones.
Having a chat with us and discussing figures with our mortgage specialist in advance of moving to a new house or making home improvements can give you peace of mind that you can comfortably afford any new repayment plans. We can look at different mortgage terms and whether there may be better deals available for the new amount of borrowing that you are looking to take on. Further advance rates can vary, and this can also be a good time to review the protection cover that you have in place to ensure that the mortgage is paid off in the event of ill health or death.
Of course the impact of coronavirus, the lockdown, and what we know will be a gradual return to (the new) normal, has highlighted the need for long-term financial planning more than ever. Whilst this can't mitigate against the unknown, it may help you to feel better prepared and provide some peace of mind for you and your family.
Why not contact us today to arrange a free, no obligation chat where you can decide if you would like to carry out a review of your financial plan or work with you to create one.