You may, or may not, have heard that The Bank of England has cut the Bank Interest Rate, March 2020 to 0.1% which is the lowest level in history.

This could be a great opportunity to review your current mortgage deal so we can get you the best arrangement for you.

In these unprecedented times, it is only natural to start to think about your current financial arrangements. As a Brighton Mortgage & Protection Adviser, I just wanted to let you know that we are here, open and have access to great technology solutions which means that we can review your finances securely without having to arrange a face to face meeting.

According to the Money Advice Service, each year one million people in the UK find themselves unable to work due to a serious illness or injury. Whether you own your own home outright, have a mortgage or are renting, the thing you will not want worry about when trying to get yourself better is finding the money to pay the bills, or to keep the lender or landlord happy by meeting their monthly direct debit. In our experience people are not always aware of what could happen if they were unable to work and many have no financial back up plans to protect them.

The most common causes of long-term work absence we know are mental health, stress, musculoskeletal injuries and acute medical conditions. But every client is different and so are their needs so that’s why we choose not to limit insurance solutions to just one provider. We have access to a wide range of insurers so we know that there is a solution to match both needs and budget. So, if you want to make sure your bills get paid when you aren’t able to work, an income protection plan is essential.

Should you have any questions about the Bank interest rate, March 2020 or anything else, we are a phone call or email away. We will continue to support you and your circumstances.

https://www.bankofengland.co.uk 
The Finance House, Independent Free Mortgage Broker

As you may have heard on the news this morning, the Bank of England base rate has been cut to 0.25%.

For about 320,000 people who are homeless in the United Kingdom, Banking for the homeless can help to claim benefits, getting wages and paying rent. Banking for the homeless has always been a problem.

Banking for the homeless

All banks require a proof of Identification and address to open a bank account. This is difficult when someone, more so when you live on the street, wants to open a bank account.

Chief Executive at Crisis, Jon Sparkes said: “It can be almost impossible to get a bank account without a fixed address and without ID, which often can be hard to keep safe and costly to replace if lost or stolen.” Banking for the homeless has always been a problem.

HSBC have joined forces with charities, including Crisis and Shelter, to offer homeless people a basic bank account that removes the need for photo identification or proof of address.

In 2018 the service started in Liverpool. So far it is going well, thirty-one branches, in the UK, have made the service live. More than eighty accounts have been opened so far. One of the first accounts was for a homeless man in Liverpool who had been homeless for about twelve years. Opening a bank account for him meant, for the 1st time in over 10 years, he could to claim benefits and is now on the housing list.

Shelter CEO, Polly Neate said “It’s hard enough if you’re homeless, living day-to-day on the streets in the freezing cold or trapped with your children in a grotty hostel.

Shelter is pleased to work with HSBC UK on this game-changing product. Having a bank account not only allows people who are homeless to receive wages and claim benefits, but it also gives them their independence back”.

Because they can use the “no fixed address” product, those who are homeless must register with charities such as Crisis or Shelter. They are then accompanied by a caseworker to one of the thirty-one participating HSBC branches to open their account.

To get bank statements and a debit card, the application forms will have the charities address. They can access the account online or over via the phone. Statements and any other relevant documents can be collectable from the charity’s office or the selected HSBC branch.

For information on shelter click here
For information on Mortgages click here