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Private Services

Mortgages

Mortgages

A mortgage is for most people, the single biggest financial commitment that they will make. Finding your perfect home is hard enough without struggling to obtain the finance necessary, but at Sterling Financial Services our Mortgage team recognises this fact and provides a top quality service where we aim to make the process as painless as possible for our clients.

From a first time buyer to people in retirement, or whether you are looking to obtain a new mortgage deal or release money from your property for home improvements or debt consolidation we can help by providing friendly & professional advice.

Technology provides a modern solution to your needs as we communicate with customers by e-mail and phone as well as face to face. You will also have access to your online file so you can keep up to date with your products. We will use whichever method is easiest for you. Our information on providers is updated daily ensuring that we have access to the latest developments and products in the market at our disposal.

Our team has a very wide range of experience and knowledge to help facilitate the mortgage process, keeping in touch with customers during the application process and giving help with any paperwork such as remortgage legal packs as well as reducing your involvement by dealing with the lenders on your behalf.

Wealth creation and management is an ongoing process and we look to have regular contact to ensure that we give you the best chance to achieve your investment and savings targets.

So if you are looking for a professional, experience and friendly environment to discuss your mortgage needs, please contact Sterling Financial Services on 01444 871661, or feel free to download our guide to mortgages here.

Investments

Investments

At Sterling Financial Services we are dedicated to responsible wealth management and comprehensive investment planning.

We understand that our clients have entrusted our firm with their hard-earned money and will respect this by managing your money with restraint, independence and honesty.

Good investing is not just about doing well during the good times, but also protecting capital during the bad times.

Today there are a bewildering range of savings and investment options available to the investor such as:

  • ISAs
  • Bonds
  • Investment Trusts
  • OEIC
  • Unit Trusts
  • Off Shore Bonds
  • Government Gilts
  • Childrens Savings Plans

Building an investment portfolio must take into account tax opportunities and implications, attitude to risk and reward and balancing it to the need for income, growth or both.

Wealth creation and management is an ongoing process and we look to have regular contact to ensure that we give you the best chance to achieve your investment and savings targets.

We can provide a full investment advice and portfolio planning service for you, and provide annual reviews as part of our service. In addition, we utilise the latest technology to provide a modern solution to your needs as we communicate with customers by e-mail and phone as well as face to face. You will also have access to your online file so you can keep up to date with your products, and obtain live valuations of your portfolio.

Please contact Sterling Financial Services on 01444 871661, or feel free to download our guide to Wealth Management Service here.

Pensions

Pensions

Could you afford to live on around £100 per week when you retire?

That’s pretty much the prospect unless you make additional pension arrangements either by setting up a personal pension or by being part of a company scheme.

Before seeking advice on pension provision it’s worth getting the basics straight first.

Why do I need a Pension?

When you retire you still need food and shelter as an absolute minimum, but of course you will want to maintain the lifestyle to which you have become accustomed, so unless you can guarantee a large inheritance or windfall, then you need to provide yourself with a secure income for the rest of your life.

A well prepared pension plan which is regularly reviewed should go some way to providing you with a reasonable level of income in your retirement.

A pension plan requires action as soon as possible, so start now and if you have already started, take the opportunity to have a closer look at your existing arrangements to make sure you are on track.

How much am I going to need for my retirement?

The answer to this, of course, depends on your aspirations – what will you want to do? What will the costs of day to day living be for me (and my partner) in retirement? What else will I want to do now I have time on my hands? What expenses will disappear e.g. children, mortgage repayments etc.

Once you come up with a figure, add in an amount as a buffer against the unforeseen and unexpected. Now you will have arrived at the amount of pension that you should ideally be planning for. Also bear in mind that pensions are taxable, so you will need to allow for income tax when arriving at your final pension figure.

A 2008 study written by the Centre for Economics and Business Research for Life Trust, warns that the cost of retirement for someone who lives to 100 soars to £708,500. According to the study, the latter stages of retirement are the most expensive, with the annual cost of retirement for an individual peaking at age 92, where a retiree would spend 50% more across the year than they would have spent at 65.

The report also warns that current predictions of life expectancy are 85 for a man and 88 for a woman.

I already have a pension so I’ll be fine won’t I?

It is very important that you review the benefits of your scheme and the status of your personal plan to establish if it is on track to give you the pension you want. If you are in an employer’s scheme you should be able to obtain a statement from your employer outlining the scheme benefits. Alternatively, contact us and we can analyse your current provisions and make any recommendations to achieve your goals.

For a personal pension, the level of contributions you have been making to your scheme, investment performance and charges will determine the size of your pension, however, as the years go by your fund will increase and could eventually get to a size where the investment returns come into play. The larger your fund, the more advice you need on managing the fund for optimum performance, because every percentage point increase or decrease could potentially represent thousands of pounds.

We will be pleased to regularly assess your benefits to establish whether they will meet your objectives, and make appropriate recommendations to you.

What type of Pension should I have?

There is no simple answer as this depends on your employment status e.g. self-employed, employed or director, and the benefits that are available through your employer’s scheme if there is one.

Based on the current single person pension of 2011 / 2012.
A pension is a long term investment. Your eventual income may depend on the size of the fund at retirement, future interest rates and tax legislation.
The value of your investment and income from it is not guaranteed it can go down as well as up due to fluctuations in investment markets, and you may not get back the full amount invested.
Levels and bases of and reliefs from taxation are subject to change and their value depends on the individual circumstances of the investor.

Life Assurance

Life Assurance

One thing people delay considering is – what happens if I fall ill or die? While we don’t really want to contemplate it, life is full of uncertainties and unfortunately some of these can harm or even ruin you or your estate financially. That’s why ensuring you having the right protection (insurance) policies in place is so important.

If you own a car you will understand the importance of the protection that insurance provides. If your car is damaged it can be repaired, if it is stolen it can be replaced or if you hurt someone in an accident then the injured person can be compensated. Simple!

But what about the importance of insuring yourself so as to protect you and those who depend on you from the financial consequences of losing your job, falling ill, being involved in an accident or even worse?

We offer a protection advisory service, helping you to protect your family and your home. This includes Inheritance and Capital Gains Tax planning, as well as life, illness and loss of income cover. We can assess suitable protection and make recommendations in isolation or as part of your overall financial planning strategy.

There are a variety of different products that can provide protection against the above and this section aims to provide an overview of them. However for further information and to discuss which products might be most appropriate to provide protection to you and your dependants, have a word with us.

  • Life Assurance
  • Critical Illness Cover
  • Family Income Benefit
  • Mortgage Protection
  • Income Protection
  • Home Insurance

Please contact us for your free review