Jessica Leader’s Post

👇👇👇This is such an interesting read. As the need for the distribution of family wealth grows, has the cost of living crisis has also affected the Bank of Mum and Dad/Family? New research from Hodge has found that almost two-thirds of people who are receiving financial support from their families, are receiving their funds from the equity of that relative’s home. In response, more than half of those aged over 50 (57%) said the cost of living has also affected their ability to lend money to others in return. Find out more in this Financial Reporter article. #HodgeResearch #AlwaysWorkingWithYou

#PropertyNews 𝐑𝐞𝐧𝐭𝐞𝐫𝐬 𝐟𝐚𝐜𝐞 𝐰𝐨𝐫𝐬𝐭 “𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐫𝐞𝐬𝐢𝐥𝐢𝐞𝐧𝐜𝐞” 𝐜𝐫𝐢𝐬𝐢𝐬, 𝐬𝐚𝐲𝐬 𝐥𝐞𝐚𝐝𝐢𝐧𝐠 𝐚𝐧𝐚𝐥𝐲𝐬𝐭. 𝑺𝒄𝒂𝒓𝒊𝒏𝒈 𝒍𝒂𝒏𝒅𝒍𝒐𝒓𝒅𝒔 𝒐𝒖𝒕 𝒐𝒇 𝒕𝒉𝒆 𝒔𝒆𝒄𝒕𝒐𝒓 𝒅𝒐𝒆𝒔 𝒏𝒐𝒕 𝒉𝒆𝒍𝒑 𝒕𝒆𝒏𝒂𝒏𝒕𝒔, 𝒔𝒖𝒑𝒑𝒍𝒚, 𝒐𝒓 𝒒𝒖𝒂𝒍𝒊𝒕𝒚. ➡ The consultancy, Hargreaves Lansdown, measures financial resilience through five key metrics: Debt Control; Financial Protection for the individual and their family; Savings; Planning for Later Life; and Investment to make the most of their money. And it highlights what it calls “worrying signs” such as the percentage of renters with arrears rising 3.5% and the percentage worried by debt rising 10%. It claims there are certain groups of renters in particular trouble. Almost all renters with children among the lowest fifth of earners (99.6%) have poor or very poor resilience. And the average household in this group has emergency savings to cover just two weeks’ worth of essential expenses – when advisers recommend a minimum of three to six months’ worth. Those who are renting over the age of 50 are also struggling, with almost two thirds (64%) scoring poor or very poor. This reflects the fact that people in this group either tend to be on lower incomes, or have had to wrestle with setbacks through their adult life that have left them on the back foot financially. They also face the prospect of retiring in rental property. Sarah Coles, head of personal finance at Hargreaves Lansdown, says that while life may get easier for those with mortgages as interest rates ease, the same can’t be said for renters. She comments: “They’re still facing rising rents, as tenant numbers keep increasing and landlords continue to sell up. It means people need to manage their finances carefully in order to stay on an even keel. “Drawing up a budget will be essential, so you can see everything coming in and everything you’re spending. As your rent rises, you’re faced with the horrible challenge of either freeing up money elsewhere by cutting back, or making compromises over where you’re prepared to live. By this stage, after rents have risen so far, there’s a risk there are no more costs to cut, so you need to consider real lifestyle changes – either moving somewhere smaller and cheaper, or cutting back on those things you have always considered to be the bare minimum. It's hard enough to manage your day-to-day costs, but you can’t afford to overlook saving for the future too.” Via LandlordToday.

🏠 Exciting News! 🏠 Today, I wanted to highlight a fantastic solution provided by Aham Housing Finance. As a leading lender in the market, Aham Housing Finance is dedicated to solving a significant problem faced by many individuals - the dream of owning a home. 🔑 The first issue Aham Housing Finance addresses is the time it takes for a customer to realize their dream of buying a home. By offering tailored solutions and personalized support, Aham Housing Finance assists customers in achieving their dream of becoming a homeowner in just three years. Imagine being able to enjoy the comfort and security of your own home much sooner than expected! 💰 Aham Housing Finance also focuses on bringing financial discipline and promoting healthy banking habits among its customers. Through educational initiatives and expert guidance, they ensure that customers become more aware and knowledgeable about managing their finances effectively. This not only helps them acquire their dream home but also enhances their overall financial well-being. 🌟 Moreover, Aham Housing Finance aims to improve customers' standard of living. By providing flexible loan options, they empower individuals to upgrade their current living conditions, moving into homes that better suit their needs and preferences. This boost in living standards positively impacts both the individuals and their families. 🏦 Additionally, Aham Housing Finance also plays a vital role in the market by spreading awareness. Many eligible borrowers are not aware that they can access financial assistance. By actively making themselves known, Aham Housing Finance ensures that those who are eligible get the chance to fulfill their dream of homeownership. ✅ Lastly, by reaching out to new customers, Aham Housing Finance continues to expand its clientele, opening doors for more individuals to experience the joy of homeownership. This growth benefits not only the borrowers but also the economy as a whole. Join me in celebrating Aham Housing Finance's remarkable efforts in solving the housing dilemma and making homeownership dreams a reality. 🌟 #AhamHousingFinance #HomeownershipDreams #FinancialWellbeing #DreamHome #RealEstate #BankingHabits #StandardOfLiving #Awareness

Following on from a comment I've made on a post, why is it that as part of vetting tenants, they're not asked if they have any critical illness or income protection in place? 💰 I think this is a really important area that should be looked into and I'm happy to help landlords, tenants and estate agents ensure their investments, homes, and clients are fully looked after. If a tenant is diagnosed with a critical illness, or suffers an accident, it could seriously impede their ability to pay their rent, meaning landlords then may struggle to pay their mortgages and leaving the tenants in a really tricky spot. 🏠 Estate agents, landlords, tenants, give me a call and I'll chat you through what we can do to help and secure your interests! 🤝 07968622408 [email protected] #incomeprotection #landlords #lifecover #lifeinsurance #familyincomebenefit #tenants #buytolet #investors #estateagents #families

Great Op-Ed by Joe Neri, CEO of Illinois Facilities Fund (one of the largest mission-driven lenders in the country) on the necessity of #FHLBank reform to tackle today's affordable #housing crisis! In American Banker he writes that the recent report by the Federal Housing Finance Agency presents a "policy unicorn" -- with an opportunity to redirect billions of dollars to #affordablehousing, and realign this #GSE to its founding mission, without any impact on the federal budget: "But there's another reason to act on this report: It's a policy unicorn. It's that rare thing you never see in the nation's capital anymore — a balanced plan on a complex issue that could have lasting impact on a difficult problem with broad public support and no impact on federal spending or taxes.” Read more here: https://lnkd.in/emyX-rCJ.

🏡💰 Did you know? Housing is considered affordable if a household is paying no more than 30% of their gross income on rent or a mortgage. 🏠✨ This benchmark helps ensure that families have enough income left for other essential expenses like food, healthcare, and savings. 📊💵 As we navigate the housing market in Central Oregon, from Bend to Redmond, let's keep this principle in mind. Whether you’re buying or renting, it’s crucial to aim for affordability to maintain financial health and stability. 🌲🏞️ #AffordableHousing #FinancialHealth #CentralOregonRealEstate #BendRealEstate #RedmondRealtor #HousingMarket #RealtorLife #CentralOregonLiving #HomeBuyingTips #DiscoverTheONE #RentingTips #Budgeting #FinancialStability #RealEstateAdvice 🏡📊

Family wealth is increasingly becoming a prerequisite for home ownership. In fact, 2023 has been the busiest year to date for the “Bank of Family”, supporting over 318,400 property purchases. That’s an increase of 41% on pre-pandemic levels. Many younger people in the UK simply can’t afford to buy without the aid of their family – whether that’s a gift of cash, or indirect support such as providing accommodation for adult children while they save for a deposit. It’s a real issue with the UK housing market, and we’re keen to be part of the solution. By investing in innovative businesses like Gen H, we are supporting new routes to home ownership, which means more people like Chae will be able to get the step onto the property ladder they desperately need. https://lnkd.in/eKKj4gEr #InclusiveCapitalism #BankofFamily #BoMaD

The latest research from Legal & General has measured an increase in support from the "Bank of Family". At Gen H, facilitating this kind of support is core to what we do. The desire to own a home is still strong, but taking those first steps, or the next move, can be tough, especially today. Watch below to see how first-time buyer Chae used Gen H's income booster and deposit booster features to help her and her young family onto the ladder and into a home they love. Legal & General Mortgage Club #familysupport #incomebooster #depositbooster #BoMAD #JBSP #mortgagelender *For intermediary use only.

The amount you pay towards social care/support depends on the level of need and the amount of assets you have. This will be determined by your Local Authority in two assessments: 👴 The Needs Assessment 👵 The Financial Assessment Your home will be included in the Financial Assessment (at the present market value, less any mortgage or loan you have left to pay, and less 10% of the value where there would be expenses incurred in the sale). Living in a care home can be very expensive and the costs involved can literally wipe out your entire savings, and your home may need to be sold to pay for care fees. You can't give away your property to avoid it being included in the Financial Assessment (this is known as deprivation of assets) but with careful planning by an expert, you can make use of Trusts to protect your home. Trusts are our speciality. To protect your home from the cost of care, contact Tim Mullock: 📞 01234 713021 📩 [email protected] I’d welcome the chance to help. #WillsandEstates #EstatePlanning #WillsAndTrusts