Interest rate adjustments and mortgage market shifts

The Bank of England's recent suggestion of a potential "soft landing" for the UK economy has provided a bit of hope amongst the ongoing economic challenges. While this news has been welcomed by many, the lingering effects of high-interest rates continue to impact various sectors, particularly the housing market.

In response to the changing economic landscape, mortgage lenders have begun to adjust their rates. Several lenders have recently announced reductions in their mortgage rates, sparking renewed interest among prospective homebuyers. This downward trend in rates has led to increased affordability for some, making it more accessible for individuals and families to enter the property market.

Navigating uncertainty

Despite the recent positive developments, there remains a degree of uncertainty surrounding the sustainability of this. Several factors continue to show challenges to the broader economy, including:

• Inflationary pressures: While inflation rates have shown signs of easing, they remain elevated, impacting consumer spending and business confidence.
• Geopolitical tensions: Global conflicts and economic uncertainties can influence investor attitudes and market stability.
• Interest rates: The Bank of England's monetary policy decisions will continue to shape the interest rate environment, affecting borrowing costs for both consumers and businesses.

Your trusted financial partner

Given the dynamic nature of the current economic climate, it's key for individuals and families to seek expert financial advice. Our Wealth Team can provide valuable guidance and support in navigating these uncertain times.

We can assess how changes in interest rates may affect your financial situation, particularly if you have existing loans or mortgages. If needed, we can help you explore mortgage options while developing a personalised long-term financial plan, ensuring your wealth is protected through effective financial planning and risk management strategies.

Introducing Toni

With over 30 years of experience in the financial services industry, Toni specialises in providing expert advice to clients seeking guidance on later life financial matters. Her expertise extends to life, health, mortgage, and pension planning, with a particular focus on later life lending, equity release, and care fees planning.

Toni works closely with her colleagues at Tees Wealth and our legal teams to deliver comprehensive care fees planning and equity release advice. This involves liaising with local authorities and government departments on behalf of our clients to ensure they receive the best possible support.

Delivering what you really need

At Tees, we believe that financial and legal advice should empower you to make informed decisions. Our goal is to provide you with the information and options you need to confidently navigate your retirement years. Toni's expertise and personalised approach will help you understand the complexities of later life planning and make informed choices.

 Care funding: A personalised approach

We understand that planning for care funding can be a complex and emotional process. Our team is committed to making this process as straightforward as possible. We work closely with our clients to understand their specific needs and tailor our advice accordingly. Through careful planning, it may be possible to structure your finances in a way that allows you to pay for care fees without depleting all of your assets.

Equity release: Achieving your financial goals

Whether you're looking to downsize, gift your property, or simply enhance your retirement lifestyle, equity release may be a suitable option. Toni can provide expert advice on the costs, risks, and potential implications of equity release on inheritance tax, care entitlements, and means-tested benefits.

 Why choose equity release?

• access tax-free cash from your home
• maintain ownership and stay in your property
• enhance your retirement lifestyle
• repay outstanding mortgage or debt
• provide financial support or care for loved ones
• purchase a new home
• gift to children or grandchildren
• home and Garden improvements

This material is intended to be for information purposes only and is not intended as an offer or solicitation for the purchase or sale of any financial instrument. It is not intended to provide and should not be relied on for accounting, legal or tax advice, or investment recommendations. Past performance is not a reliable indicator of future returns and all investments involve risks. Some information quoted was obtained from external sources we consider to be reliable.

Tees is a trading name of Tees Financial Limited which is authorised and regulated by the Financial Conduct Authority. Registered number 211314. Tees Financial Limited is registered in England and Wales. Registered number 4342506.