September 2017

Tough new measures on Pension cold calling

New tough measures that have recently been announced by the Government have been commended by Independent Financial Planning firm Clarke Nicklin Financial Planning.

The new measures, which will mean cold calling to sell pensions (including emails and texts) will be banned, are being enforced to protect pension savers from unscrupulous operators. No date has been set as yet for this to come into force. Companies will face heavy fines if they contact savers who either do not give prior permission or whom have no existing relationship with them.

Scott Herbert, Partner and IFA comments ‘This is another step in the right direction towards protecting consumers from unprincipled companies. This follows on from the banning of mortgage cold calls a few years ago. As a firm we pride ourselves that the vast majority of our new clients comes from referrals from existing clients who are very happy with the advice they have received and how they have been looked after, and therefore are very pleased to refer us to friends, family and colleagues.’


Mortgage switching inertia – many losing hard cash as a result

Once mortgage borrowers come to the end of their fixed discounted rate, they could see themselves paying a hefty price as they are automatically moved onto the lenders Standard Variable Rate (SVR).

Recent industry assessments suggest that the SVR charged by the big six lenders who account for 69% of the market collectively was around 2.5% higher than the cheapest fixed rate. *

Inertia and lack of awareness tend to be the main factor preventing borrowers from re-mortgaging to a new deal.

Reviewing options is time and effort well spent, though. Around 2 million borrowers who are eligible to re-mortgage to a new deal could save a vast amount of money. Industry assessments suggest timely re-mortgaging could save over £3,000 a year comparable to a fixed rate.

Take action now, check when your fixed rate is due to end and make a note when to action it.

A good mortgage advisor will help you through the process, and ensure you are advised on your most suitable options.

At Clarke Nicklin Financial Planning our focus is ensuring we provide a proactive, tailored service to our clients to ensure you are aware of your options and able to make the right decisions at the right time.  We fully assess needs, objectives and affordability over the short, medium and long term, and as part of our relationship we ensure our advice is tailored as needs change.

Important information

Your home may be repossessed if you do not keep up repayments on a mortgage or other loans secured on it. Think carefully before securing other debts against your home.

Past performance is not a reliable indicator of future performance.

* Source Trussle Mortgage saver review May 2017

Blog at

Up ↑