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Are you a mortgage prisoner?

It is believed that thousands of homeowners in the UK could be trapped in poor mortgage deals due to changes to the affordability rules brought in during the last financial crisis. Often referred to as mortgage prisoners, these homeowners have found, that despite generally keeping up with repayments, they are no longer eligible for many…

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Age limit for private pension withdrawals to go up

The minimum age for private pension withdrawals will increase from 55 to 57 in 2028, according to the Treasury. The pension freedom reforms introduced by former Chancellor George Osborne have allowed pension holders to access their savings pots at 55 before the State Pension retirement age, which is currently 65. Under the current rules, pension…

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