Further Infomation
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Pensions
A pension is an arrangement to provide you with an income when they are no longer earning a regular income from employment.
When you retire you'll still need an income and a pension can provide you with that. The state pension does provide some level of income but if you would like to enjoy a similar standard of living as you do now, you will need to plan for it. A pension plan is one way of providing this. The earlier you start to make a contribution, the better it will be.
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Mortgages
If you are looking to buy a property or home you will need a mortgage. A mortgage is a loan secured by a property/house and paid in installments over a set period of time. The mortgage secures your promise that the money borrowed will be repaid. For most of us, a mortgage is the largest and most serious financial obligation we ever make.
There are many different types of mortgages,
- 100% Mortgages
- Buy to Let
- Capped Rate
- Equity Release Mortgages
- First Time Buyer Mortgages
- Fixed Rate Mortgages
- Fix and Track Mortgages
- Flexible Mortgages
- Interest Only Mortgages
- Repayment mortgages
- Remortgages
- Shared Ownership Mortgages
- Standard Variable rate
- Tracker Mortgages
- Variable Rate
Each type of mortgage comes with its own advantages and disadvantages, it is very important that you do your research.
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Life Insurance
Life insurance or life assurance is a contract between the insurerand the policy owner. The insurer agrees to pay an agreed sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner agrees to pay a regular amount either a monthly payment or a lump sum.
Equity release
An equity release scheme lets you raise money from your property - as either a regular income or a lump sum, or both - and at the same time gives you, the right to remain living there until you both die or move out.
There are two types of equity release scheme available in the market, with several variations on each.
- The lifetime mortgage involves taking out a new loan secured on your home
- The home reversion involves selling all, or part, of the ownership of your home.
In return both types will pay you a lump sum and/or an income.
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Contact Us
For further information and advice call Midland Financial Advisers Limited today on 0800 458 9637or click here to send an email
Midland Financial Advisers Limited is authorised and regulated by The Financial Services Authority.
Registered in England No. 4863134
Reg Office:Midland Buildings, Bridge Street, Oakengates, Telford, Shropshire TF2 6AH
