Your magazine from Radiant Financial Group - for your brighter future
Why protection matters
Digital detox
Is now the right time to remortgage?
Passing on wealth through trusts
Getting your financial plan in order
HIIT vs.LISS
Protect your retirement plans by investing more today
Winter wonderland
Getting a mortgage as a first-time buyer
Why remaining invested supports long-term growth
If there’s one thing the UK financial landscape never does, it’s stand still. I’m reminded of the old adage: “The only constant in life is change.” Nowhere is that truer than in our sector, where the only thing more unpredictable than the British weather is the next twist in tax policy or the latest market headline.
This year, we’ve seen a whirlwind of events: a new government settling in, fresh faces at the Treasury, and a Spring Statement that—let’s be honest— many of us barely noticed as we juggled everything from inflation to interest rates. Yet, despite the noise, the fundamentals remain. Markets dip and recover, tax rules shift, and the headlines keep
coming, but the core principles of sound financial planning endure: diversify; stay invested; and don’t panic when the FTSE takes a wobble.
Of course, it wouldn’t be a financial magazine without a nod to the ever-evolving tax regime. With 21 different taxes in play and only a handful “safe” from change, it’s little wonder that even seasoned professionals sometimes feel like they’re navigating a maze. The new government’s balancing act—raising revenue without stifling growth—means we’re likely to see more tweaks, especially around pensions, capital gains, and those perennial favourites, council and inheritance tax.
Simon Cogman-Hellier Editor
But let’s not get bogged down in the technicalities. If the past five years have taught us anything—from COVID to global political shake-ups—it’s that resilience and adaptability are our greatest assets. Markets recover, opportunities emerge, and those who keep their nerve (and their sense of humour) tend to come out ahead.
So, as you read this issue, I encourage you to take a moment to pause and reflect—not just on the numbers, but on the bigger picture. Financial planning isn’t just about reacting to the latest headline; it’s about building a future that’s robust, flexible, and, above all, yours.
Enjoy the read!
Radiant Financial Planning, part of the Radiant Financial group is a specialist provider of financial advice, tax planning, employee benefits and business consultancy services.
Our clients include large and small businesses, entrepreneurs, owner-managers, senior executives and individuals.
Our approach extends beyond traditional financial advice. Our team of experienced planners and consultants will help you to make life changing decisions, empowering you to take control of your financial future, both personally and in your business.
Tightening gift-giving regulations is among the measures being considered
The UK Treasury is seeking further new ways to reduce the growing deficit ahead of the much-anticipated Autumn Budget. With a financial shortfall exceeding £40 billion, reports suggest that officials, under the guidance of Chancellor Rachel Reeves, are exploring potential changes to Inheritance Tax (IHT) rules. Tightening gifting regulations is just one of the measures being considered to increase revenue and stabilise the country’s finances.
Current market conditions, sluggish economic growth, persistent inflation and rising unemployment have put significant pressure on public spending. Although there have been calls for a wealth tax, the government is reportedly considering the less politically sensitive option of reforming IHT thresholds.
One option being considered is the introduction of a lifetime cap on tax-free gifts. Currently, individuals can pass on assets without tax if these gifts are made at least seven years before their death. Gifts made between three and seven years prior that are above the donor’s nil rate band are taxed on a sliding scale on the excess above the nil rate band, with rates decreasing annually from 32% to 8% in what’s known as ‘taper relief’.
By implementing a cap, the government could restrict the total value of assets or monetary gifts exempt from IHT rules, regardless of when they are given. This would represent a significant shift in policy and could impact taxpayers involved in long-term estate planning. Other aspects of the gifting framework, including the taper rate itself, are also reportedly being reviewed.
Alongside organisational reforms, focus is shifting to the vast intergenerational wealth expected to pass from baby boomers. Increasing property prices, substantial pension pots and accumulated wealth have created a financial landscape the Treasury doesn’t want to overlook.
Last year signalled an early indication of the government’s plans to align pensions with IHT. From April 2027, unused pension funds and most death benefits will be incorporated into the IHT regime, ensuring these assets contribute to government revenue during the largest generational transfer of wealth in history.
If such reforms are implemented, they are likely to spark debate across the political spectrum. While they may succeed in bolstering public finances, concerns over fairness and the potential impact on middle-income families loom large. Conversely, measures specifically targeting ultrawealthy estates and large-scale gifts could potentially gain broader public acceptance.
The Treasury has not yet confirmed any decision, but it is clear that no revenue-raising strategy is being ruled out. With the Autumn Budget just around the corner, taxpayers would do well to stay informed about potential changes that may impact their estate planning efforts.
Chris Lomas Director of Financial Planning
Do you need to act now to secure your financial future and maximise your assets?
If you would like further guidance or professional advice on how potential Inheritance Tax changes could affect your finances or estate planning, please contact us sooner rather than later.
Do you have a safety net for you and your loved ones in case the unforeseen happens?
Most people prefer not to consider unexpected misfortune when thinking about the future. However, being prepared for life’s uncertainties is essential to protect your family’s way of life. Financial security provides a safety net for your loved ones if you face illness, injury or an untimely death. But understanding the right cover to meet your needs can be complicated and daunting. Without a plan, the financial impact on your family could be considerable if a steady income stream is interrupted. This is especially true for those who are self-employed or retired, as employer-provided protection often no longer applies. To safeguard your family’s lifestyle, preparation and the right financial solutions are essential.
Determine your essentials before anything else
Consider your family’s daily living costs, including mortgage payments, council tax, utilities and groceries. Ensuring these essentials are covered guarantees they will be cared for, even in the worst-case scenario. Beyond this, think about the extras your family enjoys. From holidays and social outings to memberships and events, these lifestyle elements can also be protected with the right plans.
Once your essentials are taken care of, you can begin exploring personalised plans for debt repayment, future family priorities or educational goals. The approaches vary depending on individual circumstances, but the constant is the peace of mind that financial protection provides.
Explore healthcare with private medical insurance cover
Health issues can occur unexpectedly, and NHS waiting times are at an all-time high. This has led many to consider private medical insurance (PMI). Figures from the Association of British Insurers (ABI) reveal a record 6.2 million people now have access to prompt diagnoses and quality treatment for acute health conditions through insurers.
PMI provides access to private healthcare facilities and specialists, which can significantly reduce waiting times and speed up treatments. Beyond healthcare, it offers a sense of security and ensures that health concerns do not jeopardise your family’s financial wellbeing.
Addressing major medical challenges with critical illness cover
Critical illness cover pays a lump sum or regular payments upon diagnosis of a specified covered
condition. This financial support can help cover medical treatment, replace lost income and provide additional resources during recovery.
Some policies even permit add-ons, such as children’s critical illness cover, providing a financial safety net if your child is diagnosed with a serious condition. These funds could enable a parent to take unpaid leave, ensuring they remain with the child and are better able to provide care and support.
Income protection safeguards the stability of lifestyle
Income protection acts as a safety net during illness or injury, providing regular payments to compensate for lost earnings while you recover. Policies can be customised for short-term or longterm needs, with options to defer payments and manage premiums.
Typically, you can cover between 50% and 67% of your income, ensuring your family continues to meet financial obligations despite unexpected work interruptions. This option is especially useful for individuals without other income safety nets.
Life insurance offers tailored security for your family
Life insurance is a basic part
of financial security for any family. It provides either a lump sum or regular payments when the policyholder passes away, ensuring financial stability during a challenging transition.
This type of insurance is especially useful for covering major expenses like mortgages or school fees. Payments can be customised to align with life milestones, such as supporting children until a specific age or giving a spouse enough time to adjust.
Leave an inheritance without unnecessary financial strain
Inheritance planning often involves tax implications that can be easily overlooked. Without proper preparation, families may face difficulties such as selling the family home to pay tax liabilities. Establishing a suitable trust could address this proactively.
Trusts offer many benefits, including quick access to funds after death without the need to go through probate. Moreover, money placed into a trust remains outside your estate as long as you survive for at least seven years after establishing it, entirely avoiding Inheritance Tax. Trusts also give you full control over how and when your dependents receive their funds.
Protecting your family’s lifestyle requires careful planning and a personalised approach. Each layer of cover, from healthcare to income replacement and inheritance strategies, helps strengthen financial resilience.
We understand that navigating these options can feel overwhelming, but it doesn’t have to be. Taking proactive steps today provides confidence and peace of mind, knowing that your loved ones will thrive, no matter what happens. With the right protection in place, you can safeguard the lifestyle you’ve built together.
PMI provides access to private healthcare facilities and specialists, which can significantly reduce waiting times and speed up treatments.
Need guidance on protecting you and your family’s lifestyle?
If you would like further guidance on protecting you and your family’s lifestyle, we’re here to help. We’re here to assist you in creating a customised financial protection plan tailored to your needs. Contact us for comprehensive advice and personalised solutions. We look forward to hearing from you.
In our highly connected world, digital devices have become just as much an extension of ourselves as our own bodies. From the moment we wake up until we go to bed, we are continuously bombarded with notifications, emails, and updates.
Although technology offers remarkable conveniences, this constant digital stimulation comes with a cost. Our attention spans are decreasing, our capacity for deep focus is diminishing, and the boundary between our online and offline lives has become increasingly blurred.
The idea of a “digital detox” has become a necessary remedy for this modern problem. It is not about abandoning technology completely, but about deliberately taking a step back to reset our relationship with it. A digital detox offers a chance to reclaim your time, enhance your focus, and rediscover the importance of being present. It involves taking control of your devices so they do not dominate your life.
need
The need for a digital detox often sneaks up on us. You might
find yourself mindlessly scrolling through social media feeds without any real purpose, feeling anxious when you are separated from your phone, a phenomenon known as “nomophobia.”
Other signs include difficulty concentrating on a single task, feeling overwhelmed by your email inbox, or noticing that your sleep quality has declined, possibly due to blue light exposure from screens before bed.
These symptoms clearly indicate that your brain is overwhelmed and requires a break from constant digital input. Recognising this is the first and most important step. It involves understanding that your mental clarity and wellbeing are being affected and choosing to take proactive measures to restore balance.
A digital detox doesn’t have to mean going cold turkey and retreating to a remote cabin for a week. A more sustainable approach involves adding small, manageable changes into your daily routine. Start by establishing tech-free times and zones. For example, you could
introduce a “no phones at the dinner table” rule or designate the bedroom as a screen-free sanctuary to improve your sleep hygiene.
Another effective strategy is to manage your digital environment. Unsubscribe from newsletters you never read, unfollow social media accounts that make you feel inadequate, and disable all nonessential notifications. Every buzz and beep is an interruption that distracts you from your current activity. By reducing these digital disruptions, you create more space for focused thought and undisturbed work.
Reclaiming your focus and finding new activities
When you cut down the time spent on your devices, you’ll suddenly find yourself with more free time. At first, this can feel unsettling, as we often use our phones to fill every moment of boredom. This is your chance to reconnect with offline activities you enjoy. Pick up a book, go for a walk in nature, start a new hobby, or simply spend quality, undistracted time with loved ones.
This process helps retrain your brain to find fulfilment in activities that don’t involve a screen. You will likely notice
your ability to concentrate for longer periods improving. The initial restlessness will give way to a sense of calm and a renewed capacity to engage deeply with the world around you, leading to richer experiences and more meaningful connections.
Cultivating a long-term healthy relationship with technology
The ultimate aim of a digital detox is not merely to take a temporary break but to establish a healthier, more mindful long-term relationship with technology. Use the insights gained during your detox to create new, sustainable habits. This might involve scheduling specific times to check emails and social media, rather than reacting to them continuously throughout the day.
Consider it as shifting from passive consumption to active, mindful use. Technology is a powerful tool, but it should support your goals and values, not rule them. By consistently taking small steps to disconnect, you enable yourself to live a more focused, present, and fulfilling life in an increasingly digital era.
If you’re a homeowner approaching the end of a fixed-rate deal or currently on a variable rate, you might be wondering whether to remortgage now or wait. It’s a timely question in 2025’s economic landscape. Remortgaging can help you secure a better interest rate or unlock equity, but choosing the right time to switch is crucial. With mortgage rates fluctuating, timing your decision carefully could result in substantial savings. In this article, we discuss what to consider and how to proceed with clarity and confidence.
The first question is how close you are to the end of your current mortgage agreement. If your term finishes within the next six months, now is the time to start your remortgaging process. Many lenders allow you to secure a new deal in advance, giving you the opportunity to lock in a
rate while maintaining flexibility to change if a better offer appears before completion.
Delaying your remortgage could cause you to revert to your lender’s standard variable rate (SVR), which is often much higher than fixed-rate deals. While some homeowners hope for more base rate cuts before acting, the future remains uncertain. In 2025, the Bank of England has begun lowering rates, currently at 4% as of September 25, and any further decreases are expected to be gradual.
By taking action early, you could protect yourself against potential rate rises and retain the freedom to switch products if the market shifts in your favour.
Which option suits your situation?
A crucial decision when remortgaging is whether to choose a fixed-rate or variable (tracker) mortgage. Fixed-rate
deals offer payment certainty, which helps with budgeting. Tracker mortgages, on the other hand, fluctuate in line with the Bank of England base rate. If the base rate falls, your monthly payments will also decrease. For example, a 0.25% drop could save around £29 a month on a £200,000 loan. However, if rates rise again, your payments will increase accordingly.
In today’s climate, some homeowners opt for a short-term fix or a flexible tracker with no early repayment charges. This allows them to switch later if rates decrease. If predictability is your priority, a fixed rate may provide more peace of mind. But if you’re comfortable with some short-term fluctuations, a tracker could offer useful savings.
If you decide to fix your rate, the next question is for how long. A five-year fix provides mediumterm stability and is suitable for
those planning to stay put. It shields you from potential rate hikes and may lessen how often you need to pay arrangement fees.
Short-term fixes, like two or three years, can provide more flexibility. They may appeal to you if you believe rates could decrease or your personal circumstances might change soon.
Ten-year fixes offer long-term security but require a larger commitment. It’s important verify if the deal is portable in case you decide to move. Longer fixes may suit those who value certainty or expect stricter lending criteria in the future.
Ultimately, your decision should match your lifestyle, job security, and plans. A shorter solution might offer you more freedom if the future seems uncertain.
Why remortgage?
It’s not just about rates
Although many people remortgage to secure a better interest rate, that is not the
Although many people remortgage to secure a better interest rate, that is not the only reason. If your home has increased in value, remortgaging can release equity, which can be useful for funding renovations or major life changes.
only reason. If your home has increased in value, remortgaging can release equity, which can be useful for funding renovations or major life changes. Some borrowers may also use remortgaging to consolidate debts. By using home equity to repay loans or credit cards, monthly expenses can be reduced. However, be cautious, as this spreads short-term debt over a longer period, increasing the total repayment.
Other reasons for changing your mortgage include switching from interest-only to repayment, shortening your mortgage term, or changing the person named on the mortgage. You might also want a product that allows overpayments, which can help you pay off your mortgage more quickly. Before making a change, check if your current mortgage has early repayment charges (ERCs). These can range from 1% to 5% of your balance, depending on where you are in your term. Sometimes, paying the fee is
worth it, but it’s important to do the maths.
your finances ready to apply
A successful remortgage application begins with thorough preparation. Lenders will reassess your finances as if you were applying for a mortgage for the first time. Start by checking your credit report and correcting any errors. Avoid taking on new credit, maintain your bank account in good order, and ensure bills are paid punctually. Employed applicants usually need recent payslips and bank statements. If you are selfemployed, you should provide at least two years of accounts and tax returns. Lenders look for steady income and responsible money management. It also helps to have details of your current mortgage ready, including the remaining balance, interest rate, and any exit fees. Staying organised gives you the best chance of securing a competitive
new deal without delays. Confidence comes from preparation
So, is now the right time to remortgage? If your current deal is ending soon, the answer is often yes. Acting early can protect you from rate rises and enable you to secure a deal before the SVR kicks in.
If your deal still has time remaining, it’s worth weighing the cost of exiting early against the potential savings from a better rate. While predicting interest rate movements is challenging, being proactive allows you to respond swiftly when the opportunity presents itself.
Are you ready to remortgage with confidence?
As financial decisions become increasingly complex, understanding your options brings clarity. With expert guidance and proper preparation, remortgaging can offer tangible benefits, from lower costs to greater flexibility. Deciding whether to refinance may seem daunting, but you are not alone. We’ll help you compare your options, assess potential savings, and guide you towards a deal that fits your goals.
Setting the course for a secure future
As we enter the second half of 2025, the same familiar issues continue to affect the financial landscape. Inflation, although easing, still impacts spending power. Meanwhile, a series of stealth tax increases is gradually boosting government tax receipts. It’s a complex environment; however, there has never been a better opportunity to review and refresh your financial plan.
At its core, financial planning centres on you. Beyond money and investment strategies, it emphasises your dreams, priorities and long-term objectives. A carefully considered plan also prepares you for life’s uncertainties, such as job losses or unforeseen emergencies.
By adopting a systematic approach to budgeting, insurance, taxes, investments and retirement planning, financial planning offers the stability and clarity needed to secure your present and lay the groundwork for a brighter future.
Start by setting clear goals
Any effective financial plan begins by defining your goals. These should be mapped out across different timeframes – five years, ten years and beyond. Consider what you want your life to look like at each stage. Are you saving for a home, preparing for your children’s university fees or building a retirement fund?
Short-term goals may involve setting aside an emergency fund or saving for a major purchase. Medium-term objectives often centre on tax-efficient investments, retirement planning or managing larger financial milestones. Long-term aims might include securing a consistent retirement income and developing an effective estate plan to minimise Inheritance Tax for your loved ones.
on track with cashflow monitoring
Monitoring your cash flow is essential for clarifying your financial position, both now and
in the future. A comprehensive cashflow analysis allows you to evaluate your income and expenditures while anticipating future needs. This approach not only eliminates uncertainty but also enables you to adapt to changes, such as inflation or shifting lifestyle priorities.
By monitoring your cashflow, you can also create ‘what-if’ scenarios. These assist you in planning for contingencies, exploring options and ensuring your financial decisions align with your goals.
Be prepared for life’s emergencies
Life is unpredictable, and emergencies can disrupt your financial plans. Whether it’s the sudden loss of a job, illness or unexpected home repairs, having a contingency plan is essential. Build a robust emergency fund that covers at least three to six months’ worth of expenses, and ensure your insurance policies provide sufficient coverage for key risks.
Tackle debt effectively
Debt, particularly mortgages, affects long-term financial health. Formulating a strategy to manage or pay off debt is essential. With rising interest rates, you might consider accelerating repayments to minimise costs. Furthermore, evaluate whether reducing debt aligns with your broader goals, such as retiring earlier or lowering regular expenses.
Manage risk with ongoing assessments
Risk is not limited to investments; it encompasses your overall financial stability. Reflect on how market volatility, health issues or employment uncertainties might affect your finances. Are your investments in line with your risk tolerance? Will your family’s future remain secure if unexpected changes occur?
Regular risk assessments ensure your financial plan remains adaptable, regardless
of how economic or personal circumstances change.
Create a bespoke investment strategy
Investment decisions are essential to any financial plan and must be customised to your individual circumstances. A well-balanced portfolio weighs risk against return, incorporating a variety of asset classes such as cash, bonds, property and equities.
Diversification is vital for reducing risk. By spreading investments across various categories, we aim to help you minimise the impact of any single market downturn. Your strategy should also consider life stages –younger investors may be willing to accept higher risks, while retirees prioritise stability.
Frozen tax bands, particularly Inheritance Tax thresholds, render it increasingly essential to ensure tax efficiency in your planning. By utilising trusts, gifting strategies and investments held outside your estate, you can protect your assets and reduce tax burdens. A well-considered tax plan preserves more for you and your family.
Financial planning should not solely focus on numbers; it ought to enhance your quality of life. After navigating the challenges of recent years, it is crucial to incorporate leisure and enjoyment into your budget. Whether it’s a family holiday or a weekend getaway, these moments refresh the mind and revitalise your approach to creating a secure financial future.
Stuart Mehrtens Financial Planner
Take the next step towards your personalised financial plan –contact us today!
Your financial plan should be as unique as you are, reflecting both your current circumstances and future aspirations. We can assist you in developing a strategy that adapts to life’s complexities while ensuring you stay on track to achieve your goals. Please contact us to discuss your individual needs or to find out more about how we can help.
Fraudsters are becoming increasingly sophisticated, blending traditional scams with advanced technology to deceive unsuspecting victims. This constant increase in fraudulent activity emphasises the urgent need for heightened awareness and proactive safeguards.
By recognising the tactics used by scammers, you can better protect yourself and your loved ones from their schemes. Below, we explore eight common scams and provide practical tips to keep you safe.
One of the most common and harmful tactics involves scammers pretending to be bank representatives. You might receive a call, email or text message claiming there is an urgent issue with your account that requires immediate action. Fraudsters often exploit fear and urgency to pressure victims into sharing personal information, such as account details, PINs or passwords, or even transferring money to a so-called ‘safe
account’ under the pretence of protecting your funds.
How to stay secure: Legitimate banks will never ask for your full PINs or passwords, nor will they pressure you into making immediate decisions. If you receive a suspicious message, verify its authenticity by contacting your bank directly using the official phone number listed on their website or by calling your bank card provider –never use contact details provided in the message. Be cautious of links in emails or texts and avoid clicking them unless you are certain they are legitimate. If something feels wrong, trust your instincts and take the time to investigate.
Investment scams often target individuals looking to grow their wealth. Fraudsters may promote fake opportunities such as highreturn schemes, pyramid schemes or unregistered securities. These scams frequently employ professional-looking websites, counterfeit testimonials and pressure tactics to persuade victims to part with their money.
How to stay secure: Be wary of any investment opportunity that promises guaranteed returns or seems too good to be true. Investigate the company or individual offering the investment thoroughly, checking for licences, reviews and any regulatory warnings. Always confirm the legitimacy of the opportunity through official channels, such as government financial regulatory authorities. Avoid making decisions under pressure and consult us before committing to any investment.
Romance scams exploit emotions and trust, often starting on online dating platforms or social media. Scammers create convincing profiles, build emotional connections over time and then fabricate crises – such as medical emergencies or travel issues – that require financial assistance. Victims are frequently manipulated into sending money, under the impression they are helping someone they care about. How to stay secure:Never send money or share financial
details with someone you’ve only met online, regardless of how convincing their story seems. Take your time to verify their identity by performing reverse image searches on their profile pictures or requesting a video call. Share your concerns with trusted friends or family members for an impartial view – they might notice red flags you missed. If something feels wrong, trust your instincts, cut ties immediately and report the profile to the platform.
Job seekers, particularly those urgently looking for work, are vulnerable to employment scams. These often involve fake job advertisements, dishonest recruiters asking for upfront processing fees or fake job applications designed to gather personal information. Scammers take advantage of job seekers’ hopes, leaving them financially and emotionally drained.
How to stay secure: Research every company offering you a position. Look for reviews, verify their website and ensure the job listing is genuine. Check the company’s official website or LinkedIn profile to confirm the job posting. Authentic employers will never ask for upfront payments, sensitive personal details like your National Insurance number or bank information during the early stages of recruitment. If a job offer seems too good to be true, it probably is. Trust your instincts and don’t hesitate to walk away from suspicious opportunities.
Planning a holiday can be thrilling, but fraudsters often exploit this by offering fake holiday rentals, counterfeit airline tickets or seemingly unbeatable holiday packages. Victims are lured in by irresistibly low prices, only to find that their bookings vanish after payment.
How to stay secure:Always book through reputable travel platforms or directly with trusted providers. Verify contact details, double-check reviews and ensure the website has secure payment options (look for ‘https’ in the URL). Be cautious of offers that seem significantly cheaper than market rates, as they might be too good to be true. Avoid direct
bank transfers or payments to unknown individuals, and prefer credit cards or payment methods that offer buyer protection.
Advances in artificial intelligence have equipped scammers with new tools to deceive. From deepfake audio that mimics loved ones to highly realistic chatbots, AI-powered scams can be alarmingly convincing. These scams often involve urgent requests for money or sensitive information, making it difficult for victims to tell truth from falsehood.
How to stay secure: Be sceptical of unusual or urgent requests, even if they appear to come from trusted sources. Always verify the authenticity of such requests through direct contact, such as a phone call or face-to-face confirmation. Be cautious about sharing personal information online, particularly on social media, as scammers can exploit it to make their schemes more convincing. Educate yourself about the capabilities of AI and stay alert to emerging threats.
Phishing scams remain a common tactic among fraudsters. These scams typically arrive via emails, text messages or embedded links that appear to come from trusted organisations like banks, government agencies or well-known companies. The goal is to trick victims into revealing sensitive information such as passwords, credit card details or financial data.
How to stay secure: Carefully check emails for spelling mistakes, generic greetings or suspicious links. Avoid clicking on links or downloading attachments unless you are sure of the sender’s identity. Hover over links to verify their destination before clicking. Keep your antivirus software up to date and enable spam filters to reduce the risk of phishing. When in doubt, contact the organisation directly, using official contact details to verify the message.
This particularly malicious scam targets older individuals by pretending to be grandchildren or other family members in trouble.
The scammer frequently claims they are in a hurry, such as being stranded or arrested, and requests money to resolve the issue.
How to stay secure: Encourage elderly relatives to verify such claims by independently contacting family members. Discuss these types of scams with your loved ones and develop a plan for managing such situations. For example, establish a family code word that can be used to verify a caller’s identity. Remind them to never send money or share personal information without confirming the story through trusted channels. Take action if fraud strikes
Even with your best efforts, anyone can become a victim of a scam. If it occurs, act quickly to minimise the damage. Contact the authorities to report the crime, change your passwords and notify important service providers such as your bank and other relevant institutions. Fraud can be reported to Action Fraud at actionfraud.police.uk or by calling 0300 123 2040.
Sophie McLoughlin Head of Operations
Protect yourself and your loved ones by staying informed and taking proactive measures to prevent scams. If you have any questions or concerns, please contact us.
Which cardio style is right for you?
When it comes to cardiovascular exercise, the fitness community broadly divides into two popular groups: High-Intensity Interval Training (HIIT) and Low-Intensity Steady-State (LISS). Both are effective methods for enhancing heart health, burning calories, and increasing overall fitness, yet they achieve these outcomes in fundamentally different ways. Understanding the difference between them is crucial for selecting the approach that best aligns with your goals, lifestyle, and personal preferences.
HIIT involves short, all-out bursts of intense exercise followed by brief recovery periods. Think sprinting for 30 seconds, then walking for a minute, and repeating this cycle. LISS, on the other hand, is its more relaxed counterpart. It involves maintaining a consistent, moderate pace for a longer duration, such as a 45-minute brisk walk, a steady cycle, or a gentle jog. The debate over which is superior is ongoing, but the truth is that the “best” cardio style is the one that is right for you.
The case for highintensity interval training (HIIT)
The main appeal of HIIT is its remarkable efficiency. A typical HIIT session lasts between 10 and 30 minutes, making it ideal for those with busy schedules. Despite its short length, HIIT is highly effective. By pushing your body close to its maximum effort, you induce a significant metabolic response. This results in a phenomenon called the “afterburn effect,” or Excess Post-exercise Oxygen Consumption (EPOC), where your body continues to burn calories at an elevated rate for hours after exercising.
This intensity makes HIIT a potent tool for enhancing cardiovascular fitness and VO2 max (a measure of how effectively your body utilises oxygen) in less time compared
to steady-state cardio. It is also excellent for boosting athletic performance, power, and speed. However, its high-impact, highintensity nature means it puts considerable stress on the body, raising the risk of injury if not performed with proper form. It is generally advised to limit HIIT sessions to two or three times weekly, with sufficient rest days in between.
The appeal of lowintensity steady-state (LISS)
LISS provides a gentler and more sustainable way to improve cardiovascular fitness. It puts less strain on the joints and nervous system, making it a great option for beginners, those recovering from injury, or anyone preferring a less intense workout. Activities such as walking, swimming, or using an elliptical machine at a steady pace can be done for longer durations and more often than HIIT sessions, sometimes even daily.
Although LISS may not deliver the same dramatic afterburn effect as HIIT, it remains highly effective for burning calories and enhancing endurance. During a LISS session, a greater proportion of calories burned originate directly from fat stores. Additionally, its lower intensity makes it a more meditative and less mentally demanding form of exercise. Many people find a long walk or a gentle cycle an excellent way to de-stress, listen to a podcast, and clear their mind, making it beneficial for both physical and mental wellbeing.
The best choice between HIIT and LISS depends entirely on your personal circumstances. If your main aim is to burn the maximum number of calories in the shortest time and you enjoy challenging yourself, HIIT is an excellent option. It is ideal for the busy individual seeking quick fitness gains. Just remember to
prioritise proper form and allow adequate recovery to prevent burnout or injury.
On the other hand, if you are new to exercise, prefer a more relaxed workout, or are focused on fat loss and endurance over an extended period, LISS might be a better option. It is a sustainable, low-risk approach to building a solid fitness foundation and can be a more enjoyable long-term plan for many. Keep in mind that enjoyment is a vital factor in sticking with your routine; the best exercise is the one you will consistently perform.
Ultimately, you do not have to choose just one. The most effective and well-rounded fitness plans often include both HIIT and LISS. You could do two HIIT sessions a week to boost your metabolism and strength, and add two or three LISS sessions for active recovery, endurance, and stress relief. This balanced method allows you to enjoy the benefits of both while keeping your routine varied and engaging.
By listening to your body and considering your fitness goals, you can develop a cardio plan that is both effective and enjoyable. Whether you are sprinting through intervals or settling in for a long, steady walk, the most important thing is that you are moving your body in a way that supports your health and wellbeing in the long term.
The information provided in this article is for general informational purposes only and does not constitute medical advice. Before commencing a new exercise programme, it is essential to consult with a qualified healthcare professional or your GP to ensure it is appropriate for your individual health needs and circumstances. Always seek professional medical advice with any questions you may have regarding a medical condition.
If you haven’t used your full annual allowance in previous tax years, you may be able to carry forward unused portions to make larger contributions now
Pensions are a crucial component of financial planning, particularly for individuals seeking to secure a comfortable retirement. For some, increasing pension contributions can be a strategic move to make up for missed savings or to maximise tax-efficient benefits. However, understanding the rules around contributions requires careful consideration to avoid potential pitfalls.
Large contributions can assist individuals who have delayed pension saving due to cost concerns or competing financial priorities. They are also attractive for those looking to transfer significant funds into a tax-efficient account. However, there are annual limits to consider, and understanding how these operate is essential to avoid unnecessary charges.
When you contribute to a pension plan, your contributions benefit from tax relief. For personal pensions, such as a Self-Invested Personal Pension (SIPP), your provider claims 20% tax relief from HM Revenue & Customs (HMRC). If you are a higher or additional rate taxpayer, you can claim additional relief through your self-assessment tax return or tax code adjustment for higher rate only, which can significantly reduce your overall tax bill. Another advantage is that your investments grow tax-free as long as they remain within the pension. Investment income, interest and any gains are exempt from taxes. However, remember that once you start withdrawing from your pension, Income Tax will be applicable, except for the current first 25% (often called the tax-free lump sum), up to a maximum of £268,275 for most people.
Your own pension contributions that qualify for tax relief are subject to limits. This is capped at the higher of 100% of your UK taxable earnings or £3,600 (including tax relief). There is also an annual allowance that
limits how much you and others can contribute across all your pensions each tax year without incurring additional taxes.
For the 2025/26 tax year, the annual allowance is set at £60,000. For defined contribution pensions, this allowance is straightforward to calculate; it includes your contributions, tax relief and any payments made by employers or third parties. However, for final salary or defined benefit pensions, the situation is more complex. The annual increase in the pension’s capitalised value over the tax year is used as the benchmark, and your scheme administrator can perform this calculation.
High earners might face a reduced annual allowance, known as the ‘tapered annual allowance’. This applies if your threshold income exceeds £200,000 and your adjusted income surpasses £260,000. It could reduce your annual allowance to as little as £10,000, depending on your earnings and employer contributions.
After retirement, opting for flexi-access to your pension, such as through drawdown, triggers the Money Purchase Annual Allowance (MPAA) as soon as anything above your tax free lump sum is withdrawn. This limits your tax-efficient annual contributions to money purchase pensions to just £10,000 (including employer and third party contributions as well as your own). Recognising these restrictions is crucial to avoiding tax penalties on excess payments.
If you haven’t used your full annual allowance in previous tax years, you may be able to carry forward unused portions to make larger contributions now. This rule allows you to access unused allowances from the past three tax years, giving you the opportunity to ‘catch up’ on missed contributions.
Carry forward is particularly helpful for self-employed individuals with fluctuating
incomes or those expecting large contributions from a windfall, such as an inheritance or the sale of a business. However, the process has certain requirements. For example, you must have been a member of a UK-registered pension scheme in previous years, and your earnings in this tax year must support the contribution amount you plan to make if the contribution is to be a personal one.
For business owners, there is greater flexibility when making contributions through a company. Employer contributions are permitted up to the individual’s annual allowance and carried forward amounts. Importantly, these payments do not need to be connected to taxable income. However, if they are to receive corporation tax relief, the company contributions must satisfy the ‘wholly and exclusively’ test, ensuring they are reasonable in relation to your role and salary.
Remember that in previous years, the annual allowance was lower, limited to £40,000 prior to the 2023/24 tax year. Also, any reductions due to the tapered annual allowance must be included. These details emphasise the complexity of correctly applying carry-forward rules.
Exceeding your annual or carried forward allowances has consequences. Any excess contributions are subject to a tax charge. It is your responsibility to report this to HMRC and pay the required charges through your self-assessment tax return or from the pension plan.
Considering the complexities involved, from the MPAA to implementing rules, seeking professional advice is crucial. Whether you want to optimise your contributions or understand personalised strategies, we can guide you towards making the most of your pension.
John Carter Financial Planner
Need professional guidance with your retirement plans?
Contributing more to your pension can greatly enhance your retirement savings, but the process might seem daunting. If you require advice specific to your situation or help with HMRC rules, contact us today. Taking charge of your pension savings now can help secure your financial future.
As winter casts its enchanting spell over Europe, towns and cities transform into magical wonderlands, adorned with twinkling lights and the festive aroma of cinnamon and mulled wine. At the heart of this seasonal magic are the Christmas markets, a tradition that dates back centuries. These bustling centres of festive cheer offer a unique chance to immerse yourself in local culture, find handcrafted gifts, and indulge in seasonal delicacies.
From the historic squares of Germany to the snow-dusted streets of Scandinavia, each market has its own distinct character and charm. Navigating the vast number of options can be overwhelming, but a few stand out for their exceptional atmosphere, unique offerings, and unforgettable settings. Whether you seek traditional charm or contemporary flair, Europe’s Christmas markets promise a truly memorable winter experience.
Germanic heartlands
Germany is the undisputed birthplace of the Christmas market (Christkindlmarkt), and no list would be complete without mentioning some of its most iconic features.
Nuremberg’s Christkindlesmarkt is among the oldest and most renowned in the world. Its wooden stalls, draped in red-andwhite cloth, sell traditional goods like gingerbread (Lebkuchen) and prune people figurines (Zwetschgenmännle), creating a timeless festive atmosphere.
For a different but equally captivating experience, head to Cologne. The city hosts several markets, but the one set against the magnificent backdrop of the Cologne Cathedral is especially breathtaking. Here, you can browse a vast array of artisanal crafts under a canopy of lights while sipping a warm mug of Glühwein. The combination of stunning Gothic architecture and festive cheer is simply unparalleled.
Fairytale settings beyond Germany
The festive spirit reaches well beyond Germany, with many other European cities showcasing their own spectacular celebrations. In Strasbourg, France, the self-described “Capital of Christmas,” the tradition has been celebrated since 1570. The city features numerous markets throughout its historic centre, with the area around the cathedral providing a particularly picturesque scene.
The Alsatian cuisine and intricate decorations make it a truly special destination.
Vienna, Austria, exudes an air of imperial elegance. Its main Christkindlmarkt on the Rathausplatz is a grand spectacle, featuring an iceskating rink and a large advent calendar on the city hall’s facade. For a more intimate experience, the market at Schönbrunn Palace offers a regal setting for browsing fine crafts and enjoying classical concerts.
For a taste of festive Nordic charm, the markets in Copenhagen, Denmark, are a must-visit. The market at the historic Tivoli Gardens is a true highlight, where the famous amusement park is transformed with thousands of lights, festive stalls, and thrilling rides. It is an experience that delights both children and adults, blending traditional market fare with whimsical entertainment.
A lesser-known but equally enchanting option is Tallinn, Estonia. Its Christmas market, held in the city’s medieval Town Hall Square, feels like stepping into a fairy tale. A large, beautifully decorated Christmas tree, which has been
a centrepiece of the square since 1441, stands surrounded by small huts selling local crafts and winter delicacies like blood pudding and sour cabbage. The dusting of snow that often blankets the city completes the perfect winter wonderland scene.
While tradition remains important, some cities present a more modern twist. In Budapest, Hungary, the Christmas Fair at Vörösmarty Square highlights high-quality, genuine Hungarian folk art and cuisine. The market is renowned for its tasty food, including chimney cake (kürtőskalács) and goulash, and offers live music and folk dance performances, bringing a lively energy to the festive celebrations.
These markets are more than just places to shop; they are celebrations of community, tradition, and the joyful spirit of the season. They provide an opportunity to slow down, savour the moment, and create lasting memories with loved ones. Wrapping up warmly and wandering through the glowing stalls is an essential winter experience in Europe.
A significant milestone, accompanied by many questions
Even small increases in your deposit can have a significant impact.
Purchasing your first home is a significant milestone that comes with many questions. From the amount of deposit you need to what lenders consider affordable, the process can initially seem overwhelming. However, with the right knowledge and support, securing a mortgage is entirely achievable. In this article, we outline the key facts every first-time buyer needs to know in 2025, including ways to boost your deposit, how borrowing is assessed, and which schemes can help you buy sooner.
What deposit is required to get started?
Saving a deposit is often the biggest barrier for first-time buyers, and knowing where the goalposts are can help you plan more confidently. Most lenders require a minimum 5% deposit of the property’s purchase price. That means if you aim to buy a £200,000 home, you’ll need at least £10,000 saved.
However, a 5% deposit usually
involves some trade-offs. You’ll be borrowing 95% of the property’s value, which lenders perceive as higher risk. As a result, interest rates tend to be less competitive, and affordability checks are more stringent.
Conversely, if you can increase your deposit to 10%, 15% or even 20%, you’ll access a broader range of lenders and enjoy notably lower interest rates. Many lenders provide price reductions at key loan-to-value (LTV) thresholds, such as 90%, 85%, 80%, and 75%. These reductions can save you thousands over the duration of your mortgage.
To grow your deposit faster, consider:
• Opening a Lifetime ISA (LISA): If you’re aged 18 to 39, you can save up to £4,000 annually and receive a 25% government bonus – up to £1,000 per year –towards your first home.
• Receiving a gifted deposit: Family support is increasingly
common. If parents or grandparents are willing to help, lenders generally accept gifts (not loans), provided the funds are documented.
• Exploring shared ownership or special schemes: These options may reduce the upfront deposit needed. For example, if you buy a 50% share of a home, you only need a deposit on that portion.
Even small increases in your deposit can have a significant impact. Don’t be discouraged if 5% is all you can manage; mortgage products are available for that level, but aim for more if possible.
How much you can borrow isn’t just about income but overall affordability. Most lenders will start by looking at your gross annual income, typically offering between 4 and 4.5 times your salary. For example, a person earning £35,000 might be eligible
to borrow around £157,500. However, modern lending is more sophisticated than just a multiplier. Lenders will conduct a stress test to assess how your finances would hold up if interest rates were to rise by 1% to 3%.
Lenders also factor in:
• Credit card and loan repayments.
• Regular household bills.
• Childcare or dependents.
• Lifestyle spending habits.
The more committed outgoings you have, the more they reduce your borrowing capacity. For instance, if you’re paying off a car loan or have high credit card balances, this will decrease your affordability.
To maximise your borrowing potential:
• Clear down debts where possible.
• Avoid new credit in the six
months before applying.
• Track your monthly budget and reduce unnecessary outgoings.
• Use affordability calculators from trusted lenders or brokers to test your borrowing range.
Also, remember that borrowing capacity increases with deposit size. A 10% deposit might qualify you for a larger loan than a 5% deposit, because the lender considers lower risk.
There’s good news for firsttime buyers: you’re not on your own. A range of schemes exists to make buying more achievable:
As of 1st April 2025, eligible first-time buyers pay no stamp duty on the property’s purchase price up to £300,000. Then, 5% is paid on the property’s price between £300,001 and £500,000
As mentioned earlier, this provides a 25% top-up on savings, ideal for building your deposit tax-free.
Available until the end of 2025, this government-backed scheme encourages lenders to provide 95% mortgages — an option to consider for those with a 5% deposit.
If available in your local area, this allows you to purchase a new-build property at a discount of at least 30%. The discount remains with the property for future buyers, ensuring long-term affordability.
Purchase a share of a property, between 25% and 75%, and pay rent on the remaining portion. This reduces the mortgage amount required, and deposits are smaller. You can acquire additional shares of the property over time through “staircasing”.
Some lenders allow parents
to act as guarantors or provide savings as security. These help boost your borrowing power without needing a cash gift. Not all schemes suit everyone. Our experienced team can help you decide which, if any, apply to your situation, and whether the long-term costs are worthwhile.
The mortgage application process may feel daunting, but it follows a clear and logical sequence.
Here’s what to expect:
• Get a Mortgage in Principle (MIP): Also known as a Decision in Principle, this is a soft check confirming how much you could potentially borrow. It’s often required before viewing homes seriously or making an offer.
• Find a property: Once your offer is accepted, you can proceed to the full application.
• Submit a full mortgage application: This includes uploading proof of income, bank statements, ID, and evidence of deposit. Lenders will review your documents in detail.
• Valuation and underwriting: The lender will arrange a valuation of the property to check it’s worth what you’re paying. Meanwhile, your financials are fully assessed.
• Mortgage offer issued: If everything checks out, you’ll receive a formal offer; this is the commitment to lend.
• Exchange and completion: Your solicitor finalises contracts, and funds are transferred on completion day. You receive the keys.
Throughout, we’ll guide you every step of the way, and don’t be afraid to ask questions. From the day you start your application to moving in, the whole process can take 6 to 12 weeks depending on the property and chain.
Preparation is everything Lenders consider the overall strength of your financial profile, not just your income. The more prepared and organised you are, the higher your chances
of approval and securing a competitive interest rate. Here’s how to get mortgage-ready: Save as much of a deposit as possible
Not only does this lower how much you need to borrow, but it can also secure you lower interest rates and more mortgage options. Aim to reach the next loan-tovalue (LTV) tier if possible, even 1% more could make a difference.
Pay off or reduce debts
Outstanding credit card balances, personal loans, or buynow-pay-later agreements reduce your affordability. Paying these off or reducing them can increase the amount a lender is willing to offer.
Avoid new credit applications
Each time you apply for credit, such as store cards, mobile phone contracts, or car finance, it leaves a mark on your credit report. Making too many applications in a short period can make lenders wary.
Register to vote at your current address
It’s a quick but important task. Lenders refer to the electoral roll to confirm your identity and address. If you’re not registered, your application could be delayed or flagged for additional checks. Check and improve your credit report
Use a free service like ClearScore, Experian, or Credit Karma to review your file. Correct any inaccuracies, ensure your address history is current, and watch for warning signs such as missed payments or high utilisation on credit cards.
Gather key documents early
These generally include a photo ID (passport or driving licence), three months’ payslips, three months’ bank statements, your most recent P60, and proof of deposit. If you’re self-employed, you’ll usually need two years of accounts or tax summaries. Having all documents prepared helps prevent delays later. Even small actions can have a significant impact. Paying all your bills on time, avoiding your overdraft, and managing your spending wisely in the 3 to 6 months before applying can all show that you’re a responsible,
low-risk borrower.
Think of this stage as building your case for the lender’s underwriters. The more confidently you can present your finances, the more likely they are to say yes, and at a rate you’ll be happy with.
You only buy your first home once Getting on the property ladder may involve compromises such as location, size, or condition, but the long-term benefits are significant. Once you own your first home, you build equity, gain access to better remortgaging options later, and invest in your future instead of paying rent to your landlord.
Every buyer’s journey varies, but thousands take the leap each month, many with only 5% deposits and modest incomes. With the right support from our team, you can too.
Looking to take your first step onto the property ladder? We are here to guide you. From understanding your options to securing the right mortgage, we’ll guide you through every stage with clarity and support options, assess potential savings, and guide you towards a deal that fits your goals.
When it comes to growing your finances, few decisions are as crucial to long-term success as remaining invested. The temptation to move to cash during volatile periods can be strong, but financial history and market principles often favour those who keep their positions. Staying invested isn’t just about patience; it’s about unlocking the potential of your investments, capitalising on market trends and safeguarding your financial future. Understanding why staying invested is so effective begins with examining the main reasons behind its success. From growth through compounding to controlling emotional biases, let’s explore the key benefits and practical strategies that underpin this fundamental principle.
One of the strongest reasons to stay invested is the opportunity to benefit from long-term growth. Historically, investment assets such as stocks and shares have consistently beaten inflation, delivering strong returns over long periods. By maintaining your investments, you also benefit from the power of compound interest. This powerful mechanism boosts the value of your initial investment over time, leading to exponential growth that cash savings accounts simply cannot match.
Consider the example of investing £10,000 in a broad stock
market index that averages a 7% annual growth rate. Over 20 years, compound interest could increase that amount to more than £38,000. Compare this with leaving the same £10,000 in cash, where inflation and limited returns might erode its purchasing power.
Attempts at ‘timing the market’ frequently lead investors along an uncertain route. Shifting investments into cash during dips and re-entering when markets ascend results in exposure to misjudgements. For instance, selling during a market downturn could mean missing the subsequent recovery and the financial gains that often follow. Similarly, staying in cash during upward trends might forfeit valuable opportunities.
The adage ‘time in the market, not timing the market’ captures this perfectly. Those who remain steady through market volatility are more likely to benefit from long-term trends and protect themselves against the emotional rollercoaster that often accompanies investing.
Diversification is another essential part of the stay-invested approach. Spreading investments across different assets, sectors and geographical regions can help protect against market-specific
risks. For example, profits from technology stocks might offset downturns in the property industry during a certain economic period, leading to a more balanced overall portfolio.
For long-term investors, maintaining a diversified portfolio can help stabilise performance. The balance between growthoriented stocks and safer assets,
such as bonds, provides more stable returns even during challenging financial periods.
Cash safety comes at a cost
Although cash feels secure, especially during economic downturns, it has notable disadvantages. Even with relatively high interest rates,
cash savings often experience a ‘real return’ shortfall. When inflation is taken into account, cash diminishes purchasing power instead of maintaining or increasing it over time.
For example, a current savings account with a 3% annual return will lose real value if inflation exceeds that rate. This highlights the importance of weighing the opportunity cost of holding cash against potential returns from investments.
Investors often encounter emotional biases such as fear during market crashes and greed in bull markets. These emotions can lead to poor decisions, like selling too early or investing recklessly. Staying invested, however, helps minimise these behaviours. Adopting a careful, long-term strategy based on informed goals is a more reliable approach.
One of the strongest reasons to stay invested is the opportunity to benefit from long-term growth.
For example, during the 2008 financial crisis, those who stuck to their investment plans and remained invested recovered losses and enjoyed significant market gains in the years that followed. This demonstrates the resilience of staying the course.
Beyond market outcomes, continuing to invest can provide potential tax advantages. Selling assets might trigger capital gains taxes, particularly where gains are above the £3,000 annual Capital Gains Tax (CGT) allowance, at which point there is a tax charge at 18% or 24%, basic rate band and above, respectively.
Additionally, certain assets, such as UK government bonds, benefit from preferential tax treatment, enabling investors to maximise their returns while complying with tax regulations.
History consistently demonstrates that financial markets can recover from even the harshest downturns. From the Great Depression to the dot-com bubble and the 2008 financial crisis, markets have shown a proven ability for rebounding and growth. By remaining invested, you increase the chance to benefit from these recoveries and position yourself for long-term gains.
Investors who endured the short-term volatility caused by COVID-19’s market impact in 2020 saw notable rebounds in 2021. Staying invested proved beneficial, emphasising the importance of a disciplined, longterm strategy.
David Brennan Chief Invesment Officer RFP and Financial Planner
Careful planning is essential. Regularly reviewing your portfolio ensures it aligns with your goals and can be adjusted as needed. Making informed decisions today can secure your success tomorrow. To discuss your future plans, please contact us.