Tag Archives: L&C

L&C

Financial, Financial Services, Home Equity, Insurance, Insurance Services, Loans, Money, Mortgage, Personal Finance

A New Year ‘Stop Smoking’ Resolution Could Save You Money on Life Insurance

Not only will those who quit benefit from a substantial cut in expenditure from the cigarettes themselves, but once they have not smoked or used tobacco or nicotine products for 12 months, they will also be able to benefit from non smoker rates for their life insurance.

A male aged 35 with a 25 year level term life insurance policy could reduce their monthly premium by 42%* by being eligible for non smoker rates, saving £78 a year.

Smokers who quit can request an automatic reminder by email or text to review their life premiums after 12 months by using L&C’s LifePROMPT service.

Richard Morea, technical manager at L&C says “those who stop smoking at the start of 2010 should register with Lifeprompt now so they are reminded to review their life insurance costs in 12 months time. If they are successful in their quest to stop smoking, they will also be able to benefit from savings on their life insurance this time next year”.

*Monthly premium for a male aged 35, non Smoker, £100,000 level term insurance policy £8.90
Monthly premium for a male aged 35, smoker, £100,000 level term insurance policy £15.40

Via EPR Network
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Financial, Financial Services, Home Equity, Insurance, Insurance Services, Loans, Money, Mortgage, Personal Finance

Survey Shows the Benefits of Arranging Life Insurance Young

L&C’s October survey of people arranging life insurance through them showed 44% of people were over the age of 45.

This is despite the fact that life insurance gets more expensive with age. In the survey, the average monthly premium for the 56+ group was 35% more than for those aged 26-35. Many people don’t expect the unforeseen at an early age and can often prioritize other items above buying protection. However, there are financial benefits, not to mention peace of mind, from buying protection early. The survey showed that people in the 26-35 year old group had an average monthly premium of just £26.29 – less than a pound a day. This was despite 55% of people in the younger group being smokers compared to only 6% in the older age group.

L&C’s Richard Morea said The younger you are when you take life cover, the cheaper it will be. People should consider it an essential item like motor or household insurance. Waiting until you’re old to get the protection habit means you’ll not have the peace of mind having protection brings – and the monthly cost will be higher.

For more information and free life insurance advice, call 0800 0731932.

London & Country (L&C) is the UK’s leading no-fee mortgage broker. Based in Bath, it provides whole of market advice via telephone and post to clients nationwide. As well as residential mortgages, it also specialises in the Buy-to-Let and adverse-credit sectors.

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Banks, Financial, Financial Services, Home Equity, Interest Rate, Loans, Money, Mortgage, Personal Finance

With The Bank Of England Rate Remaining At An All-Time Low Of 0.5% In August, Now Could Be A Good Time For Many Borrowers To Consider An Offset Mortgage

An offset mortgage works by using savings you have to reduce the amount you owe on your mortgage and therefore the amount of mortgage interest you pay. For example, if you have an outstanding mortgage of £120,000 and savings of £20,000, you would only pay interest on a mortgage of £100,000. You don’t receive interest on your savings, but that also means that you don’t pay tax on that interest.

This tax benefit, added to the fact that mortgage rates are typically higher than savings rates, means that you could save thousands of pounds in interest with an offset mortgage. Taking a mortgage rate of 3.99%, a basic rate taxpayer would need to earn at least 4.99% from a savings account to get the equivalent benefit. A higher rate taxpayer would need to earn 6.65%.

You could also cut years off your mortgage term by using the saving to make regular overpayments.

Richard Morea, Technical Manager at L&C said, “If you are frustrated with the low interest rates you are earning on your savings in the current market, then an offset mortgage is worth considering. They are not suitable for everyone, but if you have a decent amount of savings, offsetting them against your mortgage could save you thousands of pounds in interest.”

Via EPR Network
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Checking & Savings, Financial, Financial Services, Financial Solutions, Loans, Money, Mortgage

The Bank Of England Made A Further Reduction In Bank Base Rate This Week To 2%, Its Lowest Level For 57 Years

The Bank of England made a further reduction in Bank Base Rate this week to 2%, its lowest level for 57 years.

It is hoped that this further increase coupled with the recent reduction in VAT will stimulate consumer spending.

Borrowers who are on tracker deals should see the benefit from January where a £150,000 repayment mortgage over 20 years, tracking the base rate at +0.5% will cost just £794.85, £195.08 less than 2 months ago when the base rate was 4.5%.

Borrowers can see how the change in base rate will impact on their monthly payment by using L&C’s rate change calculator.

Borrowers on a fixed rate mortgage at present may well be feeling badly done by as they have not benefited from recent cuts in base rate. Depending on the rate of interest they are currently paying and the remaining period left to run on their fixed rate they may also be able to save money by switching to a new deal, despite paying an early repayment charge. By using L&C’s early repayment charge calculator, they can quickly find out what rate of interest they would need to pay to achieve this.

For more information and no-fee advice, borrowers should call free on 0800 373300.

London & Country (L&C) is the UK’s leading no-fee mortgage broker. Based in Bath, it provides whole of market advice via telephone and post to clients nationwide. As well as residential mortgages, it also specialises in the Buy-to-Let and adverse-credit sectors.

L&C is a Climate Neutral company and for the last seven years has invested in climate friendly projects and tree-planting to help offset its emissions and those of its customers. For more information, go to www.lcplc.co.uk/green.

L&C has won numerous awards including:

Best Mortgage IFA/Adviser of the Year – Money Marketing, 2004, 2005, 2006 and 2008
Best Technology Adviser – Money Marketing 2007
Best Mortgage Broker outside London – Mortgage Strategy, 2004 and 2005
Best National Broker – Mortgage Introducer 2005, 2006 and 2007
Best Overall Broker – Mortgage Introducer 2005
Overall broker of the year – Pink Home Loans, 2006 and 2007,2008
Top 100 company in the Sunday Times Fast Track 100 for 2004 and 2005
Business of the Year – The Bath Business Awards 2005

Growth Strategy of the Year – National Business Awards (Wales and West) 2008
Business Leader (Broker) – British Mortgage Awards – 2008
Online Mortgage IFA of the Year – Financial Adviser – 2008

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