Saving for a child's future

Planning for your children's future can be a daunting prospect. As independent advisers we can research the many life offices and friendly societies who offer a whole array of products designed to meet the long-term needs of you and your child. Many of the products available include Child Trust Funds, With-Profits Savings plans and Growing up bonds. University tuition fees can become difficult to fund in later life without the right provisions in place. We provide advice on products such as University bonds, which are designed to aid the parents of tomorrow's students when the time comes for your son or daughter to go to university or college.

For more information on saving for your child's future please complete our client enquiry form.

Saving to repay a mortgage

If you have the burden of a heavy capital repayment mortgage you may wish to consider switching your mortgage to an interest only basis? The main advantage of this is the lower monthly repayment. However, the main drawback is that the capital amount owed will not reduce. Therefore the capital will need to be paid off sometime in the future. Saving to repay a mortgage through an individual savings account (ISA) or a Personal Pension is becoming all the more popular due to their tax efficiency.

For more information on saving to pay off your mortgage please complete our client enquiry form.

National Savings and Investments (NS&I)

There is a variety of National Savings investments available: some are taxable, some are not. The rates of return from most National Savings products are often relatively uncompetitive, but they are 100% secure investments.

National Savings fixed rate certificates (NSCs) allow a lump sum investment to be made and held for a fixed term of two or five years, with tax-free interest being added. Index-linked NSCs are available for terms of three and five years, offering an alternative to fixed rate returns by taking account of inflation in exchange for a lower guaranteed interest rate. The interest accrued depends on how long the investment is held, with interest rates progressing over the term. This means there is a lower return if NSCs are cashed in before maturity. Ideally, certificates should be held for their full term.

For more information on savings please complete the following client enquiry form and one of our advisers will call you back to arrange an appointment. Alternatively you may telephone us on 08454 50 50 60 or email us at info@mcp-financial.co.uk