HCR Independent Financial Advisers Ltd

The UK economy contracted in October, according to figures from Office for National Statistics (ONS). The unexpected fall of 0.1% marked two consecutive months of negative growth for the first time since March 2020. Read more on this and other news in our latest #NewsinReview 

With multi-retirement households and age gap relationships on the rise, retirement planning is more complex. Open and honest discussions about retirement expectations and early planning are essential. Read more… #RetirementPlanning 

Are you covered? Only 29% of UK adults have life insurance, and even fewer have critical illness or income protection. Ensure your financial plan includes the relevant insurance to safeguard your loved ones. Let's chat. #FinancialPlanning #LifeInsurance 

Prime Minister Sir Keir Starmer delivered a speech last Thursday on the government's ‘Plan for Change’, setting out “six milestones” to be completed before the next general election. Read more on this and other news in our latest #NewsinReview #planforchange

Equity release customers increased by 12% in Q2, with total lending up 15% to £578 million. Over 360,000 customers made voluntary repayments in 2022 and 2023, saving nearly £300 million in future borrowing costs. The total value of these repayments grew by 18%, and average repayment sizes rose by 30%. Overall, the equity market is showing signs of recovery, although there is still a long way to go. Always seek professional advice before considering a lifetime mortgage.

Our latest Economic Review includes – outlook for interest rates, latest on GDP, labour market figures, a fall in retail sales and how the global stock markets are performing. #Economic Review #ONS #jobs #interestrates #retail #GDP

Strong wage growth combined with less impressive house price inflation has made housing more affordable than a year ago according to the latest Halifax Affordability Review. Read more on this and other news in our latest #NewsinReview 

In the first half of 2024, net inflows to equity funds were over £11.3bn, driven by hopes for lower rates. During Q2, UK dividends reached new highs, primarily supported by one-off special dividends and banking sector payouts. Totalling £36.7bn in the quarter, dividends increased by 11.2% on a headline basis. The number of Dividend Tax payers is expected to double from 1.8 million in 2021/22 to nearly 3.6 million in the current 2024/25 tax year, boosting Treasury coffers by £18bn.

UK inflation was 2.3% in October, according to figures released last week by the Office for National Statistics (ONS), the first rise in the UK’s consumer prices index (CPI) for three months. Read more on this and other news in our latest #NewsinReview 

In 2023, there were 4.2 million people in the UK’s solo self-employed sector but concerningly, 45% of freelancers are not saving into a pension. Employed people are auto-enrolled into a pension scheme by their workplace, but if you are freelance it is your responsibility. The sooner you start saving for retirement, the more you can grow your investment and benefit from tax relief on contributions (within limits). Start by deciding on a minimum monthly contribution that feels manageable for you.