`IFA Centre IFA
Choweree House, 21 Boutport Street, Barnstaple, Devon, EX31 1RP | (Tel) 01271 344300 | info@miltonpj.net
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    Philip J Milton & Company Plc provides a well established and very competitively priced "direct instruction" share dealing service.

     

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    It is estimated that 65% of the UK population does not have a valid Will. For those, the law decides how your Estate is distributed under “Rules of Intestacy” meaning that your assets are unlikely to be distributed as you wish upon your death, not even recognising an unmarried partner, for example. Do not delay making a Will! (This service is not regulated by the FCA.)

     

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Weekly Column

Equity Release

23 July 2018

The equity release market continues its record breaking growth with retired homeowners releasing £1.71bn from property in the first six months of 2018.

Key Retirement’s first half of 2018 Equity Release Market Monitor found the total value of property wealth released to the end of June increased 37 per cent on the same period last year, when it stood at £1.24bn.

Equity release customers received on average £78,000. The most popular use of the released money was to fund home and garden improvements, with 63% of retired homeowners spending some of the money on their houses while 33% used the cash to pay for holidays. About 28% of retired homeowners used some or all of the money to gift to their family.

Debt remained an issue, with around one in five clearing outstanding mortgages and 32% paying off credit cards or loans.

Releasing money from property wealth can make sense but clearly it is not appropriate for everyone.

At Philip J Milton & Company we can advise you on Equity release to assess if it is appropriate for your circumstances as there may be other options available. Of course, planning for your retirement is the best method for ensuring you have a sufficient income, so a shortfall can be identified early and any extra provisions can be put in place.

If you do require advice on retirement planning to avoid the need for using your home to meet your needs in later life or if you do feel that an Equity Release Scheme would be suitable for you, please contact the office and speak to one of our highly qualified Advisers.

Clients should have just received our summer newsletter detailing various other services financial savings – please do contact us if you are not on the mail list and would like a free copy.

We are pleased to confirm our attendance of the North Devon Show on Wednesday 1st August. Please do come and see us in the Arcade on stand 27.

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Philip Milton Comment

Wills

Following-on from my recent case noted ‘vulnerability’ an older friend called me recently. She didn’t know that we did Wills and wondered if a wait of seven weeks before receiving a draft of what was to be her very simple Will from one of the so-called leading local lawyers was acceptable or normal. I started by suggesting that any of us can be busy so that it shouldn’t happen but perhaps with holiday and so on it could be explained but then she noted she had called several times and not had messages returned (yes, the firm’s telephone went straight to a ‘we are busy do leave a message’ service) and she had been concerned and had to ask the simple question ‘what would happen if anything happened to me?’ Yes, she has been quite poorly.

 

 
Founded in 1985, Philip J Milton & Company are delighted and proud to offer a fully independent financial and investment planning service and we advise upon all aspects of clients’ financial affairs.

The Financial Conduct Authority does not regulate some areas mentioned on our web site including: Buy to Let Mortgages, Claims Management Activity, Taxation & Accountancy, Probate Administration and Will Writing.

Risk Warning - Stockmarket investments can offer income through the payment of dividends and interest and good opportunities for capital appreciation over the longer term. By this, generally we mean periods in excess of five years, preferably much longer. However, we can never promise you particular returns, especially in the short-term. At any point in time but especially in the short term, your capital could be worth less than the original amount invested as some of the selected holdings may fall in value, regardless of expectations at the time of acquisition. We may also invest in funds that hold overseas securities. The value of these investments may increase or decrease as a result of changes in currency exchange rates. Returns achieved in the past cannot be relied upon to be repeated.

Philip J Milton & Company Plc is authorised and regulated by the Financial Conduct Authority.
Philip J Milton & Company Plc is entered on the FCA register (http://www.fca.org.uk/register) under reference: 181768.
# Registered Office: Choweree House, 21 Boutport Street, Barnstaple, Devon, EX31 1RP
Registered and Incorporated in England number 3233275 | VAT number 682 2544 28
A list of the Directors is available from the registered office


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