News from Homeline Mortgages

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Bournemouth Air Show 2018

Staff from Homeline moved into their new home for 4 days at the Bournemouth Airshow between the 30th August and 2nd September.

Bournemouth Airshow is into its 11th year and draws in millions of people to the seaside town every year which is great for our local economy, with both Day and night shows there is entertainment for all not only in the sky but also on land.

Homeline had their Gazebo on Bournemouth seafront for the duration of the 4 days in prime position giving members of the public information on the services we offer. And handing out stickers and other goodies. Its is very important to be part of such a big event that’s close to everyone’s hearts in Bournemouth.

We had glorious sunshine over the 4 days, this has not happened for many years so we were very lucky, everyone that took part had a great time, we ran a prize draw to win a Roberts radio, we will be announcing the winner shortly.

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UK Inflation rate now 2.5%

In July UK inflation rose to 2.5% after holding steady at 2.4% in the previous three months. The cost of transport and computer games has increased.

It was the first jump in the consumer prices index (CPI) since November and was in line with forecasts from the Bank of England.

The Retail Prices Index (RPI) measure of inflation fell to 3.2%. The Department for Transport uses the RPI figure to set the maximum annual increase for regulated rail fares.

Wage growth is still outstripping inflation, on Tuesday the Office for National Statistics said that average earnings, excluding bonuses rose by 2.7% for three months to June.

Wednesday’s inflation figures have shown that increases in the prices of computer games and transport are up by 5.6% in the year ending July. For manufacturers the cost of raw materials was 10.9% higher than in July 2017 and the cost of oil has increased by 50%.

This is not the highest CPI has been in recent times, in November the CPI figure had hit a 5 year high at 3.1% when the inflationary effect of the pound’s fall following the June 2016 Brexit vote reached its peak.

The Bank of England expects inflation will start to settle down to just above its 2% target in 2 years’ time as it gradually increases interest rates.

For more information in relation to the figures quoted please visit; https://www.ons.gov.uk/

If you would like to discuss this, or any anything else, contact our advisers today on 01202 937444 or visit our other websites to speak to a mortgage broker in Reading or a mortgage broker in Bournemouth

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Life insurance – How much do you need?

Life insurance is a protection policy. The policy, if written as a term assurance, will pay out a lump sum should you pass away during the life of your plan. This lump sum will be paid to your loved ones or whoever you elect to be a beneficiary.

Losing a loved one can cause both an emotional strain and financial strain, a life policy can help ease that strain for them.  The benefit payment is paid tax free for your beneficiaries to use however they see fit. It could pay off your mortgage or any outstanding debt or just help them get back on their feet.

There are two main types of term life insurance:

Decreasing – the amount of cover paid out reduces during the term of the policy, this is usually used alongside a repayment mortgage

Level – the cover remains the same and doesn’t change over time. This policy is usually more expensive but is good if you have a set amount in mind that you would like to leave a loved one.

Both types of cover are usually taken out to protect our dependents financially, especially young dependents if they are left unable to pay the bills.

LV have advised that the approximate cost of raising a child from birth to 21 is £230,000.

Our advisers say that if you look at what is outstanding on your mortgage and other debts and how much your dependents would need to maintain their lifestyle until the ages of between 18 and 21 then you should arrive at an adequate amount of life cover to take out.

If you write the life assurance in trust this will avoid any payout being held up by probate.

If you would like to discuss this, or any anything else, contact our advisers today on 01202 937444 or visit our other websites to speak to a mortgage broker in Reading or a mortgage broker in Bournemouth

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Lidl’s plans to build thousands of new homes across London

Lidl is looking to build mixed-use buildings and over 3,000 new homes in order to secure planning permission to open more shops.

Lidl have set a timescale of three years for these properties and development plans have already been submitted for; Hull, Surrey and Lincoln. So far nationwide Lidl has built 335 homes however there are 476 more to come.

Following in the footsteps of the likes of Tesco and Sainsburys who have already built thousands of properties across the capital Lidl are doing something a little different with plans in place to create a new home for Deer park School, a two-form entry primary school with 420 pupils. This new primary school will be perched on top of a giant Lidl.

You can read the full article here at Mortgage Strategy –  https://www.mortgagestrategy.co.uk/lidl-plans-to-build-homes-across-london/

Please be aware that by clicking on to the above links you are leaving the Homeline website. Please note that Homeline is not responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

“Your home may be repossessed if you do not keep up repayments on your mortgage.”

If you would like to discuss this, or any anything else, contact our advisers today on 01202 937444 or visit our other websites to speak to a mortgage broker in Reading or a mortgage broker in Bournemouth

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Bank of England raises UK Interest rates for the second time in a decade

Bank of England raises UK Interest rates for the second time in a decade

On Thursday the Bank of England made the decision to raise interest rates by a quarter of a percentage point from 0.5% to 0.75% which is the highest level since March 2009

According to the BBC this move will increase the interest costs of more than three-and-a-half million residential mortgages that are on either variable or tracker rates.

This is however great news for savers who could see a lift in their interest rates over the next coming months, however after the last rate rise in November, half of savings accounts saw no movement at all.

On Wednesday we spoke about the possibility of an interest rate rise, the bank’s Monetary Policy Committee had been expected to raise the interest rates in May, they did not due to the economy going through a weak patch at the start of the year, partly because of the harsh weather conditions we experienced.

The Bank is now confident that the dip was temporary, and that economic growth will recover from 0.2% that was seen in the first quarter to 0.4% that we have seen in the second quarter, they believe this pace will be maintained.

Governor of The Bank of England, Mark Carney had advised that there will be further interest rate rises but they will be limited and gradual.

For Further information, the full article can be found at; https://www.bbc.co.uk/news/business-45043776

If you would like to discuss this, or any anything else, contact our advisers today on 01202 937444 or visit our other websites to speak to a mortgage broker in Reading or a mortgage broker in Bournemouth

 

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