Introduction to Financial Planning
Professional financial planning is the process which aims to help you realise your ambitions - whatever they may be. As professional financial advisers we can help you make informed decisions about your financial future, in the short, medium and long term.
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Protection
There are events we can all face that have the potential to wreck lives and families. It’s a difficult issue to think about, but imagine the impact on you and your family should the main earner in your household die or become seriously ill. It may not happen to you – we hope it doesn’t – but it might.
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Savings & Investments
There are many different ways to save, but whichever way you choose, the general idea is the same: to build up some money - savings - that can be used, for example, to make a large purchase such as a new fridge, go on holiday, pay for school fees or cover the cost of expensive times like Christmas.
Business Protection
Every business needs to protect itself. For most businesses the most valuable asset it has is its people. Without them, a company’s survival could be at serious risk.
Mortgages
Mortgages are loans which are intended to help buyers purchase residential property. When you take out a loan, the lender charges interest: the same is true of a mortgage.
Equity Release
If you're over the age of 55, equity release offers you a way to use the value of your home to raise money. It is advised that you seek Independent Legal advice before entering into a legally binding equity release contract.
Retirement Planning
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.
Wealth Management
Wills and trusts are both useful estate planning tools. The terms are often confused, but they are distinct things that serve different purposes. Mostly, they let you take stock of your property and possessions so you can decide what to do with them.
Taxation
Taxation can be very complicated and the rules, reliefs and allowances often change, so it is worth obtaining a clear grasp of how these taxes work by discussing with a professional adviser the most efficient way to arrange your finances.
Commercial Finance
You're a business, and you want to be successful. In addition to talent, tenacity and creativity, you need access to funds to help you reach your ambitious goals. This is where commercial finance can come in.
Barristers
You are probably unaware that securing a mortgage that reflects your earnings will not be as straightforward as you think. Unfortunately, barristers are a prime example of high-earning professionals who find it difficult to get a mortgage on the high street.
Brokers and Investment Bankers
Many brokers and investment bankers receive their large salaries in several ways; through commissions, underwriting fees, trading income, bonuses and varying salary. So you'd think that regularly pulling in a high income would mean that obtaining a mortgage from a high street lender would be a synch. Unfortunately, this is not the case.
Contractors
Working as a contractor offers flexibility, a good work/life balance and experience of several fields, but it can also be a pain. Although you may have a good income and be financially secure, proving this to banks and building societies can be a herculean task.
Fund Managers
While many fund managers receive big incomes, a large proportion of their earnings can come from different sources, such as varying salary, shares and bonuses (with some bonus income deferred over a number of years or paid in foreign currencies). This can prove problematic for some high street lenders who often don't understand how fund managers are remunerated.
Medical Professionals
Medical professionals encounter numerous problems when looking for mortgages. In addition to complex work patterns, a range of contract types and diverse career paths, they are also time-pressed, which can mean important financial decisions are not given top priority.
Portfolio Landlords
Portfolio landlords have more stringent checks performed on them by mortgage lenders. Their overall portfolio has to meet certain background checks in terms of its total debt to rental income ratio and its loan to value ratio. This can mean the time it takes for a mortgage application to be approved is longer than it would be for a smaller scale landlord.
Solicitors
Solicitors are trained, educated and skilled professionals, valued for their knowledge and generally held in high esteem. However, from a mainstream lender's point of view, solicitors can be risky prospects, and as such, they can be reticent to lend them the amount they need to fund a property purchase.
Sportspeople
Mainstream lenders and underwriters are reluctant to lend to sportspeople because they are often self-employed or they are on short-term contracts, and/or they have complex incomes. Consequently, they are treated as high risk.
Introducers
Taylor James Financial Services are privileged to work with a number of professional connections, and are always looking to forge commercially beneficial relationships with the following parties
Give us a call on 0203 859 3320 or drop us a message
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