Money Swindon: A Swindon Independent Financial Adviser (IFA) Talks Money

Dead Cat Bounce

2009-06-25T12:36:00.002+01:00

What is dead cat bounce? A term much used in financial circles these days.It means that after a large fall in a share price or stock market it can be expected to recover.It comes from the idea that "even a dead cat will bounce if it falls from a great height".Posted by Sean Wilson, APFS, Independent Financial Advisers (IFA), Swindon, Wiltshire.

Disappearing Banks

2009-06-17T14:55:00.003+01:00

In the aftermath of banking collapses & mergers, there will quite a few bank closures on high streets of Swindon & beyond.Cheltenham & Gloucester will disappear as a high street presence with the closure of 164 branches with the loss of 833 jobs.The new Lloyds Banking group now owns the former Halifax Bank of Scotland branches too.Santander, the Spanish bank now owns Abbey, Alliance & Leicester

"An End to Boom & Bust"....

2009-06-09T12:33:00.008+01:00

It was Gordon Brown's famous pronouncement in 1997 & over 100 times since. It worked until 2002, the economy was doing well and he kept spending under control as chancellor. 25% of the tax the Treasury received in Corporation Tax (the tax companies pay on profits) was from the City of LondonAfter that things started to unravel, public spending increased dramatically partly because of the cost of

£1 388 000 000 000 Bank Bail Out

2009-05-06T16:45:00.007+01:00

£1 388 000 000 000 is the amount of money the Bank of England & Treasury have spent on bailing out various banks.This includes:£319 000 000 000 on Royal Bank of Scotland£266 000 000 000 on Halifax Bank of Scotland & Lloyds TSB£113 000 000 000 on Northern Rock.Figures come form Fathom Consulting.Posted by Sean Wilson, APFS, Independent Financial Advisers (IFA), Swindon, Wiltshire.

Tax Relief on Pensions: Budget 2009

2009-05-01T15:02:00.007+01:00

One of the big areas you can save money on income tax is by putting the money into a pension rather than taking it as salary. Currently you could save up to 40p tax for every £1 in salary.For people earning over £150 000. This will be reduced over the next few years from 40% to 20% tax relief.Pensions experts are already devising ways round this....Posted by Sean Wilson, APFS, Independent

50% Tax Band : Budget 2009

2009-04-28T09:41:00.005+01:00

One of the controversial aspects of the Budget was the introduction of a new 50% tax band for people earning more than £150 000 a year.It creates a political dilemma for David Cameron & the Conservative Party. Do they go along with it in the "interests of the country" or criticise it and be denounced as fat cats.Posted by Sean Wilson, APFS, Independent Financial Advisers (IFA), Swindon, Wiltshire.

ISA Changes; Budget 2009

2009-04-24T14:27:00.005+01:00

One of the welcome parts of an interesting & scary budget was the change in ISA allowances.For over 50s there is an immediate increase to £10 200 (£5 100 in Cash ISA)For everybody else the change happens in April 2010.Posted by Sean Wilson, Independent Financial Adviser (IFA), Swindon, Wiltshire.

Budget Special BBC Radio Swindon

2009-04-21T14:13:00.007+01:00

I will be appearing with Matthew Smith on BBC Radio Swindon 5-6pm discussing the Budget on Wednesday (22 April).Listen on 103.6FM or onlinehttp://www.bbc.co.uk/iplayer/console/bbc_radio_swindon/You may need to download Real Playerhttp://www.bbc.co.uk/webwise/categories/plug/real/newreal.shtml?intro2Posted by Sean Wilson, Independent Financial Adviser (IFA), Swindon, Wiltshire.

Do I need a deposit to buy a house?

2009-04-14T12:01:00.005+01:00

When a lender evaluates whether to grant you a mortgage to buy a house they look at your risk profile.This involves looking at yourincomings & outgoingsother debtsyour ability to put down a depositThe last one has become increasingly important since the start of the Credit Crunch. The reason is that lenders have less money to lend and are taking fewer risks and therefore are more choosy who to

What are Corporate Bonds?

2009-03-25T13:24:00.006Z

With interest rates approaching zero investors are looking around for alternative investments including Corporate Bonds....which begs the question, what are they?Corporate Bonds are issued by companies to raise money. They are an IOU, with a promise to pay back the money at a set date plus regular interest payments.They are tradeable, which means the price will vary...normally rising as interest

Incompetance at Halifax Bank of Scotland

2009-02-12T11:57:00.009Z

Halifax Bank of Scotland (HBoS) has been one of the financial disasters of the last year.It came to light during a Treasury Committee meeting that they had sacked its Head of Group Risk in 2005. The employee warned had against the costly mistakes which ultimately forced the bank to merge with Lloyds TSB. He was replaced by somebody with limited rise experience.Posted by Sean Wilson, Independent

Interest Rates Cut to 1%

2009-02-05T17:47:00.007Z

The Bank of England has once again made history by dropping its Base rate to 1%.Will it make any difference to an economy in free fall? Probably not. Again the decreases are unlikely to be passed on to borrowers or businessesThe government and the Bank of England now have stakes in most of the High Street Banks and Building Societies such as Swindon based Nationwide with a massive 60% in Royal

Free Mortgage Factsheets

2009-01-22T12:45:00.008Z

Mortgage Factsheets from the FSA. Click on the link to open a PDF document.Mortgages Colour / Ink friendly Paying your mortgage – You can afford your mortgage now, but what if...?Colour / Ink friendly Dealing with your mortgage shortfall Colour / Ink friendly What to do when you can't pay your mortgage

Free Pension Facsheets

2009-01-21T16:50:00.014Z

Factsheets published by the FSA on pensions & retirement. Pensions Colour / Ink friendly Retiring soon Colour / Ink friendly Retirement options Colour / Ink friendlyManaging in retirement Colour / Ink friendly Your pension – it's time to choose Colour / Ink friendly

Is DIY investing dangerous?

2009-01-15T15:42:00.002Z

It can be..a little knowledge can be dangerous.Investors using a well known funds supermarket lost 50-60% on popular funds such as Allianz BRIC Stars and Neptune Russia!!The organisation in question heavily promoted the funds but did not recommend them directly, which is their get out clause....Before making any major investment decision it is wise to seek professional help.

House price falls to continue?

2009-01-13T15:09:00.005Z

Probably yes.House prices are still very high for first time buyers. A good way of measuring this is to look at the ratio of average house price to income of first time buyers as measured by NationwideThis is presently 4.7, in 1995 it was 2.1. This alone suggests that house prices could halve!Add in unemployment and low inflation, house prices are not likely to rise for some time.

Interest Rates cut by 0.5%

2009-01-08T14:21:00.003Z

The Bank of England cut interest rates by 0.5% today. The new base rate is 1.5%, the lowest in the Bank's 315 year historyNormally this would see a reduction in rates for home owners & businesses. The question continued to be asked is "Will the banks pass it on to consumers?"The Bank of England is also talking about printing money to lend to banks, something usually associated with countries with

Financial & Economic prospects for 2009?

2009-01-05T15:31:00.006Z

What does 2009 offer for the economy, your finances & your job?America should pick up after Obama takes power, not so much that he will do dramatic things but confidence should start coming back.Britain? Hmmm, Gordon Brown needs a few early nights....People working in "cyclical" industries, those which expand which expand & contact quickly eg housing & shops, will continue to face tough times.The

Anthony Bolton predicts better 2009 for Investors

2008-12-19T14:27:00.004Z

Legendary investor Anthony Bolton has predicted a better 2009 for investors.He said in the Sunday Times on 14th Decemeber, “Everything I need to see for a bottom is there. Valuations look cheap and you often get this kind of high intra-day volatility at a turning point,” he said. “All the pieces are in place for a rally in the first quarter. The first stage of the bull market will be quite

A to Z of 2008...Credit Crunch, recession, Iceland

2008-12-19T11:28:00.005Z

2008 was a busy year for everybody in financial Services & a new star was born in Robert Peston, the BBC's Mr Credit Crunch.Money marketing have a useful A to Z of the year's events. (not online so far)eg Z is for Zero : the number of banking jobs left in Iceland

10 Reasons to use an Independent Financial Adviser : 1

2008-12-16T15:05:00.003Z

1 We are independent. We are not tied to any particular group. This means our recommendations are unbiased & impartial.Many advisers only have ties to certain product providers. This can generate higher commissions for the advisers involved. Always check for independence.The question to ask, "are you independent & whole of market?"To be continued

Xmas Luxuries at Lidl

2008-12-16T14:10:00.005Z

In this months Observer Food Monthly, Allegra McEvedy prepares a Christmas feast with luxury items bought at bargain price at Lidl.Can vouch for the smoked salmon, rollmops and creme fraiche.In Swindon, the store is in Gorse Hill, take a coat..the heating seems to be turned down!http://www.guardian.co.uk/lifeandstyle/2008/dec/14/cheap-christmas-dinner

VAT Reduction of 2.5%

2008-12-02T11:19:00.004Z

Will Alistair Darling's 13 month reduction of VAT by 2.5% have any effect on an ailing economy?A client remarked to me last week that they would not rush into a shop advertising a 2.5% reduction..One problem for businesses is re-calculating their VAT bills.

Pre Budget Report November 2008

2008-11-25T11:52:00.006Z

Alistair Darling delivered his pre-budget report. The main pointsTemporary 2.5% cut in VAT to 15% from 1st December for 13 monthsNew 45% tax band for those earning more than £150 000National Insurance to go up by 0.5% in 2011£60 Christmas gift for pensionersPhased increase in vehicle excise dutyThe key question is that will the government be able to pay for the increased borrowing caused by

Interest Rate cut of 1.5%

2008-11-07T15:05:00.005Z

As anticipated the Bank of England cut interest rates to 3%. The lowest in some 50 years.Will mortgage rates come down?That is the important question, banks and building societies have not been passing on reductions to consumers because they have been worried about their profit margins.There are some lenders who would be able to lower rates substantially but are not doing so becasue of lack of