![](\"https://multiply.ghost.io/content/images/2020/03/image-5.png\")
We are always keeping a watchful eye on what savings products are currently being offered to come up with new best buy lists for our users. While for most of out there this is as dry as a cream cracker with no butter, our research team claims it reminds them of freshly baked croissants with jam.
All of our selections require a minimum initial deposit of £1. Yep, this list of great savings and investment products is totally accessible as long as you have a quid to spare.
Let’s have a look at the top picks for March:
If you’d like to delve a little deeper and understand how we choose the savings accounts we recommend, take a look at our blog.
If you retired tomorrow £168.60 (rising to £175.20 in April) is the maximum basic pension you'd get from the government each week. Let's face it: it's not a lot of money. Most people can't (or don't want to) rely on this as their sole source of income in the future. After all, it's hard to imagine silver surfing your way around the world on such a tight budget.
Multiply's handy ‘in app’ pension calculator is a great way to start looking at what you need to do to afford your epic second childhood.
So let's talk pensions.
The headline is that pensions are a great tax-efficient way of saving for your future, with all schemes currently qualifying for relief up to your highest rate of income tax. This means that some of the money that you would have paid in tax to the government goes into your pension pot instead.
There are three main types of pension: State Pension, Defined Benefit, and Defined Contribution.
This is what you'll get from the government when you reach State Pension age. It should be simple, but it's not. The amount you get is dependent on a whole range of factors including age, gender, and your National Insurance record.
The criteria are constantly changing so it's worth keeping this link in your favourites to make sure you're up to date.
In order to qualify for the minimum you need to have made at least 10 years of National Insurance contributions. In order to get your equivalent of the £168.60 in the future you will need to be credited with 35 years of contributions.
If you have worked overseas things get more complicated, but the link we referred to earlier also provides guidance on this too.
Finding out the status of your State Pension has never been easier as the government has included a handy tool in its website which you can access here.
Defined benefit pensions are generally provided by your employer and are often perceived as the gold standard. They are all but extinct (following a change in regulation in the 1980's) so many of you are unlikely to have come across them, but a few companies still offer them even today.
The core feature of these pensions is when you retire, the amount of money you receive is based on your salary and the number of years you worked for the company.
These can be valuable pensions, and if you are lucky enough to have one the general wisdom is to hold onto it. That said there are still some perfectly valid reasons that may make you want to transfer them ranging from performance to flexibility to inheritance considerations. But any decisions should not be taken lightly. For all transfer values over £30,000, you will need to consult with and obtain sign-off from a regulated Independent Financial Adviser.
Defined contribution pensions are the most common ones around. You can get one via your employer or you can set it up yourself. Essentially you are saving for your own future either through through a company or off your own back. When you save through your employer, they generally make a monthly contribution too, so some free cash to boot. The cash that is saved is then distributed in a whole range of investments ranging from cash to government backed bond to stocks and shares and property.
These pensions often offer great flexibility. The amount of money you receive when you retire is a combination of how much has been saved into the pension and the performance of the pension investments over time.
No, of course not, that would be way too easy. You also need to be aware that:
This can all be a little overwhelming, especially when there are so many different types of defined benefit and contribution schemes. The good news is that information is not in short supply.
Pensions are not just about the product; that's only part of it. There is so much more to setting yourself on the right path to your second childhood.
Everyone is unique, so there are some decisions and actions only you can do when you are saving for your future. We have listed our top tips below.
Pensions are a brilliant way to give yourself an income in the future. They are a valuable addition to a much wider savings and investment plan, but it's not a case of one size fits all. Once you have done the fun part of thinking about what you want, Multiply can help you with the heavy lifting. It helps you get on the right path so when you finally hang up those spurs you can kick back and enjoy.
Although you shouldn't let the tax tail wag the investment dog the tax year is coming to an end, so there's even more incentive to get started as those allowances for the current year won't be around for much longer.
","url":"https://multiply.ghost.io/could-you-survive-on-168-60-per-week/","uuid":"3eefb47e-3312-466d-9825-482e9bbd7ebb","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e6a494b625926003895cd05"}},{"node":{"id":"Ghost__Post__5e6235e6630de70038de6d6f","title":"ISA'bout understanding","slug":"isabout-understanding","featured":false,"feature_image":"https://images.unsplash.com/photo-1562960032-108a6c6c4896?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"With the end of the tax year fast approaching, there's less than a month to make the most of your allowance. ","custom_excerpt":"With the end of the tax year fast approaching, there's less than a month to make the most of your allowance. ","created_at_pretty":"06 March, 2020","published_at_pretty":"06 March, 2020","updated_at_pretty":"04 May, 2020","created_at":"2020-03-06T11:37:10.000+00:00","published_at":"2020-03-06T11:43:50.000+00:00","updated_at":"2020-05-04T09:41:08.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Jayne Gayer","slug":"jayne","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Jayne Gayer","slug":"jayne","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":{"name":"tips-from-team","slug":"tips-from-team","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"},"tags":[{"name":"tips-from-team","slug":"tips-from-team","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"},{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"}],"plaintext":"Most of us are missing the opportunity to make the most of our hard earned cash\n(and tick a few additional items off our bucket list). But making the most of\nyour money isn't actually that hard: all you have to do is put the right amounts\nin all the right accounts. You'll see savings and investment recommendations as\npart of your personal financial plan.\n\nThe challenge is that there's an overwhelming choice of savings and investment\nproducts out there. It isn't easy to understand what they all do or what the\ndifferences are and the language is often inaccessible. And having too much\nchoice makes it all the more tempting to pull an ostrich move and bury your head\nin the sand.\n\nNot so fast. Over the coming weeks we'll be running a series of articles to\ndemystify investment terms and make sure you're fully on board with your plan\nrecommendations. Today we're talking ISAs.\n\nLet's start with the basics. An ISA is an Individual Savings Account for UK\nresidents. From the age of 16 you can save up to £20,000 a year in a cash ISA,\nbut when you hit 18 a new range of options opens up.\n\nSo here are the six main types of ISAs.\n\nCash ISA\nThis is a really simple one. Essentially it's like having cash in an\ninteresting-earning bank account, but your interest is protected from the tax\nman.\n\nThe good & the bad\nA low-risk way to save for a holiday or a new bathroom - so all your short term\nneeds and a few of those cheeky wants too.\n\nOn the flip side, the returns are not great and accounting for inflation you\ncould end up losing money in real terms.\n\nHelp to Buy ISA\nThe deadline for opening a Help to Buy ISA was 30th November 2019. For those of\nyou who have one, good job on getting a 25% uplift from the government. The good\nnews is, you can continue to use this to save towards your first home.\n\nStocks & Shares ISA\nThis is a great way to invest in stocks and shares, funds, and bonds with\ndifferent risk profiles to suit all but the most cautious amongst us. In\naddition you can do it without worrying about the tax implications. Yes, you did\nread that right, no income or capital gains tax for these bad boys.\n\nThe good & the bad\nThese are suited to the medium and long term, so anything you are looking to do\nbeyond five years. Feel like taking a sabbatical, or sending your kid to uni?\nThis may be a great way to make it happen.\n\nIt's worth noting that recent studies have shown that those who maxed out on\ntheir ISAs between 1999 and 2019, got over £47,000 more than those who invested\nin a Cash ISA. They could have brought themselves a Model 3 Tesla with that and\nhad money left over for a luxury 2-week holiday in the Maldives.\n\nBe warned though: stock markets are not a one-way street and they go down as\nwell as up, much like the housing market. So there's always some risk in\ninvesting, but historically they have performed well over the long term.\n\nLifetime ISA\nThese are ideal for the medium and long term tax-savvy investor. They cater for\na whole range of risk types as they invest in everything from cash to stocks and\nshares. But the best thing about these is that the government will add a bonus\nof up to 25% of anything you put in. Your contributions are capped at £4,000 per\nyear and there are strict limits around age.\n\nThe good & the bad\nAmazing if you are buying your first house or are saving for your silver surfer\nyears. If can you see yourself in your 60's wearing a bandanna cruising round\nEurope on your brand new Harley, this may be a great way to make that happen\n\nThe bad thing about them is the conditions. It's only for those looking to get\non the property ladder or save for their later years.\n\nInnovative Finance ISA\nThese are the baby of the ISA family and have only been around a little while.\nThey match people who have money with people who need it, and put it in a\nconvenient tax-free wrapper. Much like the stocks and shares ISA, these are for\nyour medium to long term goals.\n\nThe good & the bad\nThe potential return on these is much higher than traditional savings accounts\nor ISAs. But they also come with more risk as you are investing in new\nbusinesses or individuals. So unless you are willing to spin the wheel and put\nit all on black, you should only consider these for a portion of your\ninvestment.\n\nJunior ISAs\nThese are for parents with kids under 18. Like all ISAs, these are tax free but\nit's really just a way of putting money aside for your kids. The current annual\nallowance is £4,368 per child and parents can save this amount in addition to\ntheir £20,000 personal allowance.\n\nThe good & the bad\nIt gives your kids a great start, but beware they and they alone can access this\nwhen they are 18. So if your little darlings get a windfall like that you would\nwant to make sure they don't blow it all on sex, drugs, and rock and roll.\n\nThe TL;DR\nISAs are a tax efficient way for saving for anything from your short term\ndesires to your long term needs. They can generate some pretty impressive\nreturns if you are willing to take some risk. On top of that, the government\neven gives you cash of up to £1,000 per year with certain products. \n\nEven after this simple explanation, there are still so many things to think\nabout; who to use, how much, how long, performance, conditions and overlaps with\nover investments.\n\nSo rather than get choice paralysis your best bet is to get some truly\nindependent financial advice to find out how to use ISAs. With the end of the\ntax year fast approaching, timing is everything. To make the most of your\npersonal allowance for the current year you need to get your skates on as there\nis less than a month to go. Luckily, you're just a few taps away from your very\nown personal financial plan. Go get it!","html":"Most of us are missing the opportunity to make the most of our hard earned cash (and tick a few additional items off our bucket list). But making the most of your money isn't actually that hard: all you have to do is put the right amounts in all the right accounts. You'll see savings and investment recommendations as part of your personal financial plan.
The challenge is that there's an overwhelming choice of savings and investment products out there. It isn't easy to understand what they all do or what the differences are and the language is often inaccessible. And having too much choice makes it all the more tempting to pull an ostrich move and bury your head in the sand.
Not so fast. Over the coming weeks we'll be running a series of articles to demystify investment terms and make sure you're fully on board with your plan recommendations. Today we're talking ISAs.
Let's start with the basics. An ISA is an Individual Savings Account for UK residents. From the age of 16 you can save up to £20,000 a year in a cash ISA, but when you hit 18 a new range of options opens up.
So here are the six main types of ISAs.
This is a really simple one. Essentially it's like having cash in an interesting-earning bank account, but your interest is protected from the tax man.
A low-risk way to save for a holiday or a new bathroom - so all your short term needs and a few of those cheeky wants too.
On the flip side, the returns are not great and accounting for inflation you could end up losing money in real terms.
The deadline for opening a Help to Buy ISA was 30th November 2019. For those of you who have one, good job on getting a 25% uplift from the government. The good news is, you can continue to use this to save towards your first home.
This is a great way to invest in stocks and shares, funds, and bonds with different risk profiles to suit all but the most cautious amongst us. In addition you can do it without worrying about the tax implications. Yes, you did read that right, no income or capital gains tax for these bad boys.
These are suited to the medium and long term, so anything you are looking to do beyond five years. Feel like taking a sabbatical, or sending your kid to uni? This may be a great way to make it happen.
It's worth noting that recent studies have shown that those who maxed out on their ISAs between 1999 and 2019, got over £47,000 more than those who invested in a Cash ISA. They could have brought themselves a Model 3 Tesla with that and had money left over for a luxury 2-week holiday in the Maldives.
Be warned though: stock markets are not a one-way street and they go down as well as up, much like the housing market. So there's always some risk in investing, but historically they have performed well over the long term.
These are ideal for the medium and long term tax-savvy investor. They cater for a whole range of risk types as they invest in everything from cash to stocks and shares. But the best thing about these is that the government will add a bonus of up to 25% of anything you put in. Your contributions are capped at £4,000 per year and there are strict limits around age.
Amazing if you are buying your first house or are saving for your silver surfer years. If can you see yourself in your 60's wearing a bandanna cruising round Europe on your brand new Harley, this may be a great way to make that happen
The bad thing about them is the conditions. It's only for those looking to get on the property ladder or save for their later years.
These are the baby of the ISA family and have only been around a little while. They match people who have money with people who need it, and put it in a convenient tax-free wrapper. Much like the stocks and shares ISA, these are for your medium to long term goals.
The potential return on these is much higher than traditional savings accounts or ISAs. But they also come with more risk as you are investing in new businesses or individuals. So unless you are willing to spin the wheel and put it all on black, you should only consider these for a portion of your investment.
These are for parents with kids under 18. Like all ISAs, these are tax free but it's really just a way of putting money aside for your kids. The current annual allowance is £4,368 per child and parents can save this amount in addition to their £20,000 personal allowance.
It gives your kids a great start, but beware they and they alone can access this when they are 18. So if your little darlings get a windfall like that you would want to make sure they don't blow it all on sex, drugs, and rock and roll.
ISAs are a tax efficient way for saving for anything from your short term desires to your long term needs. They can generate some pretty impressive returns if you are willing to take some risk. On top of that, the government even gives you cash of up to £1,000 per year with certain products.
Even after this simple explanation, there are still so many things to think about; who to use, how much, how long, performance, conditions and overlaps with over investments.
So rather than get choice paralysis your best bet is to get some truly independent financial advice to find out how to use ISAs. With the end of the tax year fast approaching, timing is everything. To make the most of your personal allowance for the current year you need to get your skates on as there is less than a month to go. Luckily, you're just a few taps away from your very own personal financial plan. Go get it!
","url":"https://multiply.ghost.io/isabout-understanding/","uuid":"11ea80ea-f0ad-43a6-98ab-fbd7bb8b54e7","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e6235e6630de70038de6d6f"}},{"node":{"id":"Ghost__Post__5e5e6a760b9f920038c3c6c3","title":"The best savings accounts in February","slug":"the-best-savings-accounts-in-february","featured":false,"feature_image":"https://images.unsplash.com/photo-1579621970795-87facc2f976d?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"Let’s have a look at last month’s top accounts. ","custom_excerpt":"Let’s have a look at last month’s top accounts. ","created_at_pretty":"03 March, 2020","published_at_pretty":"03 March, 2020","updated_at_pretty":"18 March, 2020","created_at":"2020-03-03T14:32:22.000+00:00","published_at":"2020-03-03T14:39:57.000+00:00","updated_at":"2020-03-18T12:30:40.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":{"name":"tips-from-team","slug":"tips-from-team","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"},"tags":[{"name":"tips-from-team","slug":"tips-from-team","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"},{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"}],"plaintext":"We are constantly on the lookout for the best savings products on the market and\nregularly come up with new best buy lists for our users. While it’s not quite\nthe Official Singles Top 100 Chart, our research team claims it reminds them of\nthe smell of freshly baked bread in the morning.\n\nLet’s have a look at last month’s top accounts. The research team isn’t\nparticularly surprised with the selection. The names below have been the\nconsistent top account providers for a while now. What triggered our update was\nthe withdrawal of Ford Money’s instant access account.\n\nInstant access accounts\nFirst up, here's our top three instant access cash savings accounts.\n\nInstant access cash ISAs\nNow onto the Individual Savings Accounts. Read on to see our team's top picks of\ninstant access cash ISAs.\n\nIf you’d like to go down the rabbit hole (pun fully intended) of how we choose\nthe savings accounts we recommend, take a look at our blog\n[https://multiply-blog.appspot.com/how-does-multiply-pick-the-savings-account-it-recommended-me/]\n.\n\nRemember, your personal financial plan contains specific product recommendations\nto help you hit your savings goals. Check it out to find out what our team\nrecommends just for you.","html":"We are constantly on the lookout for the best savings products on the market and regularly come up with new best buy lists for our users. While it’s not quite the Official Singles Top 100 Chart, our research team claims it reminds them of the smell of freshly baked bread in the morning.
Let’s have a look at last month’s top accounts. The research team isn’t particularly surprised with the selection. The names below have been the consistent top account providers for a while now. What triggered our update was the withdrawal of Ford Money’s instant access account.
First up, here's our top three instant access cash savings accounts.
![](\"https://multiply.ghost.io/content/images/2020/03/image-1.png\")
Now onto the Individual Savings Accounts. Read on to see our team's top picks of instant access cash ISAs.
![](\"https://multiply.ghost.io/content/images/2020/03/image.png\")
If you’d like to go down the rabbit hole (pun fully intended) of how we choose the savings accounts we recommend, take a look at our blog.
Remember, your personal financial plan contains specific product recommendations to help you hit your savings goals. Check it out to find out what our team recommends just for you.
","url":"https://multiply.ghost.io/the-best-savings-accounts-in-february/","uuid":"08591445-4e4f-4a28-8f85-16fe1d5090dc","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e5e6a760b9f920038c3c6c3"}},{"node":{"id":"Ghost__Post__5e4d68d4755d9700386ae9cf","title":"How big a mortgage can I get?","slug":"untitled-9","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/03/nikita-katsevich-AzTS6b_cgHE-unsplash.jpg","excerpt":"Let's dive into what a bank looks at when it's sizing you up.","custom_excerpt":"Let's dive into what a bank looks at when it's sizing you up.","created_at_pretty":"19 February, 2020","published_at_pretty":"03 March, 2020","updated_at_pretty":"03 March, 2020","created_at":"2020-02-19T16:56:52.000+00:00","published_at":"2020-03-03T14:03:03.000+00:00","updated_at":"2020-03-03T14:03:22.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"tips-from-team","slug":"tips-from-team","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Unless you have several hundred grand lying around, you have to get a mortgage\nif you want to buy a home. A mortgage is like a regular loan, just bigger, and\nborrowed against the collateral of the property.\n\nThe amount you'll be able to borrow makes a big difference to the kind of home\nyou can buy. Mortgage affordability can make the difference between getting your\ndream home and...not.\n\nLet's dive into the two main factors that a bank considers when it's sizing you\nup as a potential borrower.\n\nYour annual income\nThis is the big one. The amount you've got coming in each year is the main\nfactor that determines how much you can borrow.\n\nA mortgage provider will typically lend you up to four or five times your total\nannual income.\n\nFor example, a person earning £40,000 buying on their own will be able to borrow\nup to £200,000 in total. A couple who earn £72,000 between them can expect to\nget a mortgage for £360,000.\n\nThe lender wants to make sure you'll always be able to make the monthly\nrepayments, so you'll have to pass affordability checks in the early stages of a\nmortgage application.\n\nYou'll need to show that your income covers any fixed expenses such as travel\nand food, as well as your anticipated bills once you're a homeowner.\n\nYour deposit savings\nYou'll need to save up a decent amount of cash upfront before you can get a\nmortgage.\n\nMost mortgage providers will lend you up to 95% of the value of a property -\nthis is the loan to value ratio or LTV. However, most lenders are more\ncomfortable with an LTV of 90% or lower. That means that you need to aim to save\nat least 5-10% of the property value yourself.\n\nFor example, if you want to buy a home for £300,000, you'll need to save up at\nleast £15,000 in order to get a mortgage.\n\nFYI: you'll also get a better deal on your mortgage if you borrow less - the\nlower the LTV, the lower the interest rate.\n\nHow much can you borrow?\nWe know the calculations are a bit complicated, so in classic Multiply fashion\nwe've outsourced the maths.\n\nYou can try our new calculator here [https://multiply.ai/property-calculator/] -\nit uses your income and outgoings to work out how much you'll be able to borrow\nand how long it'll take you to save up a 10% deposit.","html":"Unless you have several hundred grand lying around, you have to get a mortgage if you want to buy a home. A mortgage is like a regular loan, just bigger, and borrowed against the collateral of the property.
The amount you'll be able to borrow makes a big difference to the kind of home you can buy. Mortgage affordability can make the difference between getting your dream home and...not.
Let's dive into the two main factors that a bank considers when it's sizing you up as a potential borrower.
This is the big one. The amount you've got coming in each year is the main factor that determines how much you can borrow.
A mortgage provider will typically lend you up to four or five times your total annual income.
For example, a person earning £40,000 buying on their own will be able to borrow up to £200,000 in total. A couple who earn £72,000 between them can expect to get a mortgage for £360,000.
The lender wants to make sure you'll always be able to make the monthly repayments, so you'll have to pass affordability checks in the early stages of a mortgage application.
You'll need to show that your income covers any fixed expenses such as travel and food, as well as your anticipated bills once you're a homeowner.
You'll need to save up a decent amount of cash upfront before you can get a mortgage.
Most mortgage providers will lend you up to 95% of the value of a property - this is the loan to value ratio or LTV. However, most lenders are more comfortable with an LTV of 90% or lower. That means that you need to aim to save at least 5-10% of the property value yourself.
For example, if you want to buy a home for £300,000, you'll need to save up at least £15,000 in order to get a mortgage.
FYI: you'll also get a better deal on your mortgage if you borrow less - the lower the LTV, the lower the interest rate.
We know the calculations are a bit complicated, so in classic Multiply fashion we've outsourced the maths.
You can try our new calculator here - it uses your income and outgoings to work out how much you'll be able to borrow and how long it'll take you to save up a 10% deposit.
","url":"https://multiply.ghost.io/untitled-9/","uuid":"b8b8cd04-0491-4e4e-9461-2259c6f17ce2","page":null,"codeinjection_foot":null,"codeinjection_head":"","codeinjection_styles":null,"comment_id":"5e4d68d4755d9700386ae9cf"}},{"node":{"id":"Ghost__Post__5e4d69a5755d9700386ae9e7","title":"Using two Help to Buy ISAs","slug":"using-two-help-to-buy-isas-2","featured":false,"feature_image":"https://images.unsplash.com/photo-1532033375034-a29004ea9769?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"How it works if you and your home-buying buddy both have a Help to Buy.","custom_excerpt":"How it works if you and your home-buying buddy both have a Help to Buy.","created_at_pretty":"19 February, 2020","published_at_pretty":"03 March, 2020","updated_at_pretty":"03 March, 2020","created_at":"2020-02-19T17:00:21.000+00:00","published_at":"2020-03-03T13:59:08.000+00:00","updated_at":"2020-03-03T13:59:08.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"tips-from-team","slug":"tips-from-team","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"If you're a first-time buyer and you're planning to buy with someone else who is\ntoo, you'll both be able to max out the bonuses available to you.\n\nHeads up: for the purposes of Help to Buy and and Lifetime ISAs, a first-time\nbuyer is someone who's never owned any part of a property in the UK or abroad.\n\nWhether you're buying with a friend, sibling, or partner, let's take a look at\nhow the rules work when you're doubling up.\n\nHelp to Buy ISA\nThe Help to Buy ISA isn't available any more, but anyone who opened one before\nthe deadline in November 2019 can continue saving into it for another ten years.\n\nQuick recap: you can save up to £200 a month into the Help to Buy ISA. If you\nuse the money to buy a house, the government will pay a 25% bonus on your\nsavings, up to £3,000.\n\nIf you're buying with another person, you can both open separate Help to Buy\nISAs, meaning you can get up to £6,000 extra towards your house from the\ngovernment.\n\nThings to know:\n\n * To get the bonus, you have to be a first-time buyer. If you are but the\n person you're buying with isn't, you'll still qualify for the bonus on your\n part of the deposit, but they won't be able to do so for their share.\n * You can only get the bonus on a property worth up to £250,000, or £450,000 in\n London. Doubling up on the Help to Buy ISA doesn't change that limit.\n\nLifetime ISA\nMultiply recommends using a Lifetime ISA to save up for a deposit if you're\nplanning to buy a home for £450,000 or under. You can also transfer an existing\nHelp to Buy ISA into a Lifetime ISA.\n\nThe Lifetime ISA lets you save up to £4,000 a year towards a deposit on your\nfirst home. It pays a 25% bonus on everything you save, but the bonus gets paid\ndirectly into your account rather than to the seller when you to buy. If you're\nbuying with another person, you can both use your Lifetime ISA savings and bonus\ntowards the deposit.\n\nThings to know:\n\n * You can only use the bonus from either a Help to Buy ISA or a Lifetime ISA\n towards the deposit - not both.\n * To get the bonus, you have to be a first-time buyer. If you are but the\n person you're buying with isn't, you'll still qualify for the bonus on your\n part of the deposit, but they won't be able to do so for their share.\n * You can only get the bonus on a property worth up to £450,000. Doubling up on\n the Lifetime ISA doesn't change that limit.","html":"If you're a first-time buyer and you're planning to buy with someone else who is too, you'll both be able to max out the bonuses available to you.
Heads up: for the purposes of Help to Buy and and Lifetime ISAs, a first-time buyer is someone who's never owned any part of a property in the UK or abroad.
Whether you're buying with a friend, sibling, or partner, let's take a look at how the rules work when you're doubling up.
The Help to Buy ISA isn't available any more, but anyone who opened one before the deadline in November 2019 can continue saving into it for another ten years.
Quick recap: you can save up to £200 a month into the Help to Buy ISA. If you use the money to buy a house, the government will pay a 25% bonus on your savings, up to £3,000.
If you're buying with another person, you can both open separate Help to Buy ISAs, meaning you can get up to £6,000 extra towards your house from the government.
Things to know:
Multiply recommends using a Lifetime ISA to save up for a deposit if you're planning to buy a home for £450,000 or under. You can also transfer an existing Help to Buy ISA into a Lifetime ISA.
The Lifetime ISA lets you save up to £4,000 a year towards a deposit on your first home. It pays a 25% bonus on everything you save, but the bonus gets paid directly into your account rather than to the seller when you to buy. If you're buying with another person, you can both use your Lifetime ISA savings and bonus towards the deposit.
Things to know:
To get a mortgage, you need a deposit; usually at least 5% of the value of the house you want to buy.
However, if you can put together a 10% deposit you'll get access to more mortgages at cheaper interest rates. Most mortgage providers feel more comfortable when you put down a bigger deposit.
The average first-time buyer deposit in 2019 was £46,187, according to recent data from mortgage provider Halifax.
The amount you'll need varies depending on where you want to buy: in London the average deposit was an eye-watering £109,885, but in the North East of England it was just £24,091.
So, how you do decide much you need to save?
If you know where you want to live and how many bedrooms you want, it's fairly easy to work out the likely cost. We've put together a handy calculator that can help you work out what kind of place you might be able to afford, and when
Once you've got your estimated house value, you can just work out what a 10% deposit would be (or more, if you think you'd want a smaller mortgage). Want a £250,000 house? You'll need £25,000 for a 10% deposit.
Tot up any cash available to you that you can use for your deposit. Do you have any money saved up already that you could put towards your deposit? Do you have any friends or family who could gift or lend you some money?
Add these balances to the assets & debts section of your profile to make sure your plan is accurate. Your checklist will tell how best to allocate your available funds to start saving up for your deposit.
Your plan will tell you how much to save towards your deposit each month, while balancing your goal with other financial planning essentials such as building an emergency fund.
Follow your plan to build your deposit savings and watch your homeowning days get closer and closer.
","url":"https://multiply.ghost.io/untitled-10/","uuid":"beeb4565-6046-446a-8ada-797ce68bbbbf","page":null,"codeinjection_foot":null,"codeinjection_head":"","codeinjection_styles":null,"comment_id":"5e4d6b4a755d9700386aea07"}},{"node":{"id":"Ghost__Post__5e4febb6755d9700386aea95","title":"Four good money habits","slug":"four-good-monyey-habits","featured":false,"feature_image":"https://images.unsplash.com/photo-1499756630622-6a7fd76720ab?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"If you want financial certainty, it's up to you to get better at making the most of your money.","custom_excerpt":"If you want financial certainty, it's up to you to get better at making the most of your money.","created_at_pretty":"21 February, 2020","published_at_pretty":"21 February, 2020","updated_at_pretty":"18 March, 2020","created_at":"2020-02-21T14:39:50.000+00:00","published_at":"2020-02-21T14:46:33.000+00:00","updated_at":"2020-03-18T12:31:32.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"tips-from-team","slug":"tips-from-team","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Let's be honest: the odds of winning the lottery or inheriting millions from a\nlong lost Auntie Mabel are very slim. If you want financial certainty, it's up\nto you to get better at making the most of your money.\n\nThe very mention of getting into good money habits makes a lot of peoples eyes\nglaze over but they're your best chance of achieving peace of mind. So if you\nlie in bed dreaming of taking a career break, buying your own home, or retiring\nearly, listen up. We have picked the top four financial habits to get into that\ncan help you make those dreams a reality.\n\nA note on habits\nFirstly though, let's talk about forming habits. Most of us have bad ones - and\nnot just when it comes to money. Breaking bad habits isn't easy - as as anyone\ncan tell you who has made a new years resolution to get fit and eat healthy only\nto find themselves at the end of January with their knee in a support on the\ncouch eating pizza binge watching Netflix.\n\nYour best chance at successfully breaking old bad habits and forming good ones\nis to start small. If you want to take the big bang approach, you might it\nhelpful to get support from a professional who can guide and help you achieve\nthe right financial future for you.\n\nStep 1: Spend less than you make and avoid debt\nIt doesn't matter if your income is big or small, if you spend more than you\nearn you will need to borrow money just to fund your lifestyle. Once you have\nborrowed that money, you will start paying interest, so your monthly expenses go\nup and so begins a vicious circle.\n\nWith average UK household debt (that's credit cards and loans) standing at an\neye watering £15,400, it has never been more important to take charge of that\nspending as there is only ever one winner in that scenario - and it's certainly\nnot you.\n\nMake a budget, stick to it, and avoid unnecessary debt. Without this simple\nfoundational habit you'll need to work harder for your money instead of getting\nyour money working for you.\n\nStep 2: Plan for the unexpected\nChristopher Walken summed it up when he said \"At its best, life is completely\nunpredictable\". Having an emergency fund and insurance to see you through\ndifficult times seems to make sense, and yet most of us still seem to fly by the\nseat of our pants.\n\nStart putting money aside for those tough times, take out income insurance, and\nstop worrying about the what-ifs.\n\nStep 3: Make your money work for you\nWith spare cash comes opportunity - and not just for new stuff. This is where\nyou start turning your dreams into realities, from buying a home to saving for a\nonce-in-a-lifetime holiday or funding your children's education, the\npossibilities are endless.\n\nStep 4: You will get older, so invest in it\nOne day you're 25, energetic and invincible and your life is ahead of you, and\nthe next you are a silver surfer with grand kids and a bucket list. It's really\nhard to imagine getting older, so much so that companies are generating wrinkly\navatars of our older selves to help us to connect with who we will be in the\nfuture. But here's the thing: none of us are getting any younger.\n\nThe problem is that unless you start young and put money aside for your old age,\nit will very hard to kick back when you want to most. So think pensions:\nworkplace pensions, SIPPs, company pensions, personal pensions, stakeholder\npensions and state pensions.\n\nThe TL;DR\nThere are no get rich quick schemes (in spite of what some might tell you). If\nyou really want to dodge life's curveballs, hit your goals, and have the peace\nof mind that comes with it, then forming good financial habits is your best\noption. Your free Multiply plan helps you access the FCA-regulated advice you\nneed, when you need it.\n\nWe don't need to tell you life changes, so make sure your financial plan changes\nwith it. One of the best habits you can form is to check in each month to keep\nyour plan up to date. We recommend checking in right after you get paid. We can\nhear your eyes rolling in your head, but all it costs is 2 minutes of your time,\nso you can do it while you're queueing for a coffee. What are you waiting for?","html":"Let's be honest: the odds of winning the lottery or inheriting millions from a long lost Auntie Mabel are very slim. If you want financial certainty, it's up to you to get better at making the most of your money.
The very mention of getting into good money habits makes a lot of peoples eyes glaze over but they're your best chance of achieving peace of mind. So if you lie in bed dreaming of taking a career break, buying your own home, or retiring early, listen up. We have picked the top four financial habits to get into that can help you make those dreams a reality.
Firstly though, let's talk about forming habits. Most of us have bad ones - and not just when it comes to money. Breaking bad habits isn't easy - as as anyone can tell you who has made a new years resolution to get fit and eat healthy only to find themselves at the end of January with their knee in a support on the couch eating pizza binge watching Netflix.
Your best chance at successfully breaking old bad habits and forming good ones is to start small. If you want to take the big bang approach, you might it helpful to get support from a professional who can guide and help you achieve the right financial future for you.
It doesn't matter if your income is big or small, if you spend more than you earn you will need to borrow money just to fund your lifestyle. Once you have borrowed that money, you will start paying interest, so your monthly expenses go up and so begins a vicious circle.
With average UK household debt (that's credit cards and loans) standing at an eye watering £15,400, it has never been more important to take charge of that spending as there is only ever one winner in that scenario - and it's certainly not you.
Make a budget, stick to it, and avoid unnecessary debt. Without this simple foundational habit you'll need to work harder for your money instead of getting your money working for you.
Christopher Walken summed it up when he said \"At its best, life is completely unpredictable\". Having an emergency fund and insurance to see you through difficult times seems to make sense, and yet most of us still seem to fly by the seat of our pants.
Start putting money aside for those tough times, take out income insurance, and stop worrying about the what-ifs.
With spare cash comes opportunity - and not just for new stuff. This is where you start turning your dreams into realities, from buying a home to saving for a once-in-a-lifetime holiday or funding your children's education, the possibilities are endless.
One day you're 25, energetic and invincible and your life is ahead of you, and the next you are a silver surfer with grand kids and a bucket list. It's really hard to imagine getting older, so much so that companies are generating wrinkly avatars of our older selves to help us to connect with who we will be in the future. But here's the thing: none of us are getting any younger.
The problem is that unless you start young and put money aside for your old age, it will very hard to kick back when you want to most. So think pensions: workplace pensions, SIPPs, company pensions, personal pensions, stakeholder pensions and state pensions.
There are no get rich quick schemes (in spite of what some might tell you). If you really want to dodge life's curveballs, hit your goals, and have the peace of mind that comes with it, then forming good financial habits is your best option. Your free Multiply plan helps you access the FCA-regulated advice you need, when you need it.
We don't need to tell you life changes, so make sure your financial plan changes with it. One of the best habits you can form is to check in each month to keep your plan up to date. We recommend checking in right after you get paid. We can hear your eyes rolling in your head, but all it costs is 2 minutes of your time, so you can do it while you're queueing for a coffee. What are you waiting for?
","url":"https://multiply.ghost.io/four-good-monyey-habits/","uuid":"132be6b6-05d5-4c41-9c35-4e0889d3fa7b","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e4febb6755d9700386aea95"}},{"node":{"id":"Ghost__Post__5e4fc566755d9700386aea71","title":"How Multiply makes money","slug":"how-multiply-makes-money","featured":false,"feature_image":"https://images.unsplash.com/photo-1569180880150-df4eed93c90b?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"No one likes trawling small print for details so let’s cut to the chase on how Multiply makes money.","custom_excerpt":"No one likes trawling small print for details so let’s cut to the chase on how Multiply makes money.","created_at_pretty":"21 February, 2020","published_at_pretty":"21 February, 2020","updated_at_pretty":"22 July, 2021","created_at":"2020-02-21T11:56:22.000+00:00","published_at":"2020-02-21T11:59:17.000+00:00","updated_at":"2021-07-22T16:18:22.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"good-to-know","slug":"good-to-know","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"},{"name":"tips-from-team","slug":"tips-from-team","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"No one likes trawling small print for details so let’s cut to the chase on how\nMultiply makes money.\n\nIt’s free to generate a Multiply financial plan. All of the information in it,\nincluding product suggestions, is also totally free to access.\n\nIf we recommend a product\nIf we recommend a product such as the Unity Mutual Lifetime ISA, we won’t\nreceive a fee if you decide to open it.\n\nIt’s against Financial Conduct Authority (FCA) rules for Multiply to collect a\nfee from an investment platform or pension product provider for recommending\ntheir product.\n\nThis is so we’re not tempted to recommend a product or investment that isn’t\nsuitable for you. We think it’s a really good rule; it keeps your money safe and\nensures you can trust our advice.\n\nIf you decide for yourself\nIf you decide for yourself that you’d like to open a product such as the Unity\nMutual Lifetime ISA, without a specific recommendation from us, we will receive\na fee.\n\nIf you already have a Lifetime ISA, and you're considering transferring it to\nUnity Mutual, we can't give you a recommendation either way. We don’t know\nenough about your current Lifetime ISA to advise you on whether to transfer.\n\nIf you take out a mortgage via Mojo Mortgages\nIf you decide to get a mortgage in principle and then take out a mortgage via\nMojo Mortgages, we will receive a fee.\n\nIf you invest with Multiply\nIf you decide to open any investment accounts through Multiply, you’ll pay £1 a\nmonth to use the service.\n\nThis is a flat fee that covers the Multiply investment accounts available\nthrough the app: the Stocks & Shares ISA and the General Investment Account.\n\nIf you invest through Multiply, you’ll also pay an annual 0.3% platform fee. \n\nIndividual funds also charge annual fees, which vary between 0.43% and 0.73%.","html":"No one likes trawling small print for details so let’s cut to the chase on how Multiply makes money.
It’s free to generate a Multiply financial plan. All of the information in it, including product suggestions, is also totally free to access.
If we recommend a product such as the Unity Mutual Lifetime ISA, we won’t receive a fee if you decide to open it.
It’s against Financial Conduct Authority (FCA) rules for Multiply to collect a fee from an investment platform or pension product provider for recommending their product.
This is so we’re not tempted to recommend a product or investment that isn’t suitable for you. We think it’s a really good rule; it keeps your money safe and ensures you can trust our advice.
If you decide for yourself that you’d like to open a product such as the Unity Mutual Lifetime ISA, without a specific recommendation from us, we will receive a fee.
If you already have a Lifetime ISA, and you're considering transferring it to Unity Mutual, we can't give you a recommendation either way. We don’t know enough about your current Lifetime ISA to advise you on whether to transfer.
If you decide to get a mortgage in principle and then take out a mortgage via Mojo Mortgages, we will receive a fee.
If you decide to open any investment accounts through Multiply, you’ll pay £1 a month to use the service.
This is a flat fee that covers the Multiply investment accounts available through the app: the Stocks & Shares ISA and the General Investment Account.
If you invest through Multiply, you’ll also pay an annual 0.3% platform fee.
Individual funds also charge annual fees, which vary between 0.43% and 0.73%.
","url":"https://multiply.ghost.io/how-multiply-makes-money/","uuid":"6110dce3-474e-4d9b-837b-942a7174f461","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e4fc566755d9700386aea71"}},{"node":{"id":"Ghost__Post__5e4d71a8755d9700386aea11","title":"What house prices did last year","slug":"what-house-prices-did-last-year","featured":false,"feature_image":"https://images.unsplash.com/photo-1563002543-b217d7fddab5?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"Check out the latest research from the Multiply financial advice team.","custom_excerpt":"Check out the latest research from the Multiply financial advice team.","created_at_pretty":"19 February, 2020","published_at_pretty":"20 February, 2020","updated_at_pretty":"18 March, 2020","created_at":"2020-02-19T17:34:32.000+00:00","published_at":"2020-02-20T16:17:16.000+00:00","updated_at":"2020-03-18T12:31:53.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"tips-from-team","slug":"tips-from-team","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"House prices have hit the headlines recently, with the market enjoying a strong\nfew months of growth.\n\nAccording to data provided by Halifax, house prices went up 4.1% between January\n2019 and January 2020, with quarterly growth of 2.3%.\n\nThe Halifax House Price Index is the UK's longest running monthly house price\nseries with data covering the whole country going back to January 1983.\n\n\nHalifax have also said that “a number of important market indicators continue to\nshow signs of improvement”, so their view is that we could look forward to\ncontinued growth within the UK housing market this year.\n\nPrices in different places\nThe above graph shows the housing market for the UK as a whole. But what about\nspecific areas? The table below shows monthly change in each region for November\n2019.\n\nThe national growth highlighted above is more current information. This is the\nlatest regional data we were able to find, but it's best used to get a sense of\nthe current trends in different areas of the country.\n\nStay tuned\nOur financial advice team never stops scanning the market to keep your financial\nplan full of the latest rates and top pick accounts. Look out for even more\njuicy insights from the team over the next few weeks.","html":"House prices have hit the headlines recently, with the market enjoying a strong few months of growth.
According to data provided by Halifax, house prices went up 4.1% between January 2019 and January 2020, with quarterly growth of 2.3%.
The Halifax House Price Index is the UK's longest running monthly house price series with data covering the whole country going back to January 1983.
![](\"https://lh4.googleusercontent.com/jteCVvgBvsec443ILjPvQQ5AACLxPLrDzbfOJRIopwpxR23hkrlNMgsDbUKjqmL7aR-L1xN5u0bICKxm2mTLucsGzOpo0rz9T5ezwuLh4hbpmJkLRWuqV0sacNW8d5XhyrcAA6mT\")
Halifax have also said that “a number of important market indicators continue to show signs of improvement”, so their view is that we could look forward to continued growth within the UK housing market this year.
The above graph shows the housing market for the UK as a whole. But what about specific areas? The table below shows monthly change in each region for November 2019.
![](\"https://multiply.ghost.io/content/images/2020/02/image-5.png\")
The national growth highlighted above is more current information. This is the latest regional data we were able to find, but it's best used to get a sense of the current trends in different areas of the country.
Our financial advice team never stops scanning the market to keep your financial plan full of the latest rates and top pick accounts. Look out for even more juicy insights from the team over the next few weeks.
","url":"https://multiply.ghost.io/what-house-prices-did-last-year/","uuid":"fa93532a-fe09-4a4a-a12c-f2ca29343d18","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e4d71a8755d9700386aea11"}},{"node":{"id":"Ghost__Post__5e456e53f9528e003813cd6b","title":"Check your financial compatibility","slug":"check-financial-compatibility","featured":false,"feature_image":"https://images.unsplash.com/photo-1505150099521-fde7970bcc3a?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"Take the quiz and compare answers with your beau to find out how financially compatible you are.","custom_excerpt":"Take the quiz and compare answers with your beau to find out how financially compatible you are.","created_at_pretty":"13 February, 2020","published_at_pretty":"14 February, 2020","updated_at_pretty":"18 March, 2020","created_at":"2020-02-13T15:42:11.000+00:00","published_at":"2020-02-14T13:00:00.000+00:00","updated_at":"2020-03-18T12:31:42.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"tips-from-team","slug":"tips-from-team","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"It isn't always easy to get on the same page with your partner about money. But\nit’s really important for the success of a relationship.\n\nWhether you’re long-term life partners or you recently started dating, it’s\nalways good to talk about money, from long-term goals to daily spending habits.\n\nTake the quiz, tot up your answers, then send to your beau. Compare answers to\nfind out if your joint finances are destined to live happily ever after or if\nyour money nags are red flags.\n\nYour car breaks down, the roof leaks, or some other emergency happens. You say:\n\nA. No problem. My emergency fund will cover this.\n\nB. I’m a bit stressed, but I can borrow to pay for this.\n\nC. Things always go wrong for me. I’ve budgeted for this.\n\nD. This is a mess. Ah well, I’m sure it’ll all work out.\n\nSomeone gives you £20,000 out of the blue. Your first thought is:\n\nA. Sweet. I can add a chunk to my savings\n\nB. Who’s going to hit the shops with me?\n\nC. How can I invest this money wisely?\n\nD. What charities should I donate this money to?\n\nYou’d describe your financial records as:\n\nA. Organised. I regularly check that they’re up to date.\n\nB. I can't remember the last time I kept a statement.\n\nC. Precise. I use a spreadsheet to track everything.\n\nD. A work in progress. I organise them when I have time.\n\nWhen it comes to credit cards:\n\nA. I almost always pay off the entire balance due each month.\n\nB. My balance keeps getting steadily worse and worse.\n\nC. I have a couple of cards that I use only in emergencies.\n\nD. I probably have more debt than I should but I don't let it get to me.\n\nRight now, your pension looks: \n\nA. Good! I’m making regular contributions and it’ll give me a healthy income\nwhen I retire.\n\nB. Non-existent.\n\nC. On track. I'm on target to reach my retirement goal.\n\nD. Irrelevant. Why worry about that today? It’s years away.\n\nYour result\nMostly As:\nYou’re a Saver. You regularly set aside money, and make a point to build a cash\ncushion for a rainy day. You will bring financial balance to any significant\nother by encouraging them to save - just remember to also have fun with your\nmoney once in a while.\n\nMostly Bs:\nYou’re a Spender. You spend pretty much everything you earn (and possibly more\nthan you earn), or often buy things that you can't really afford. Partnering\nwith a Saver or a Planner is ideal as they can teach you to enjoy the finer\nthings in life without living beyond your means. \n\nMostly Cs:\nYou’re a Planner. You only like to spend your money on items or activities that\nare pre-calculated or planned in advance. You tend to get along with Savers and\nother Planners. Dating a Spender or Dreamer could bring about conflicts in a\nrelationship if you don't let loose from time to time. \n\nMostly Ds: \nYou’re a Dreamer. You have a lot of big dreams, hopes and aspirations, but no\npractical financial plans about how to reach your goals. It’s a good idea to\nfind a love match with a Saver or a Planer to keep you grounded in reality.","html":"It isn't always easy to get on the same page with your partner about money. But it’s really important for the success of a relationship.
Whether you’re long-term life partners or you recently started dating, it’s always good to talk about money, from long-term goals to daily spending habits.
Take the quiz, tot up your answers, then send to your beau. Compare answers to find out if your joint finances are destined to live happily ever after or if your money nags are red flags.
A. No problem. My emergency fund will cover this.
B. I’m a bit stressed, but I can borrow to pay for this.
C. Things always go wrong for me. I’ve budgeted for this.
D. This is a mess. Ah well, I’m sure it’ll all work out.
A. Sweet. I can add a chunk to my savings
B. Who’s going to hit the shops with me?
C. How can I invest this money wisely?
D. What charities should I donate this money to?
A. Organised. I regularly check that they’re up to date.
B. I can't remember the last time I kept a statement.
C. Precise. I use a spreadsheet to track everything.
D. A work in progress. I organise them when I have time.
A. I almost always pay off the entire balance due each month.
B. My balance keeps getting steadily worse and worse.
C. I have a couple of cards that I use only in emergencies.
D. I probably have more debt than I should but I don't let it get to me.
A. Good! I’m making regular contributions and it’ll give me a healthy income when I retire.
B. Non-existent.
C. On track. I'm on target to reach my retirement goal.
D. Irrelevant. Why worry about that today? It’s years away.
You’re a Saver. You regularly set aside money, and make a point to build a cash cushion for a rainy day. You will bring financial balance to any significant other by encouraging them to save - just remember to also have fun with your money once in a while.
You’re a Spender. You spend pretty much everything you earn (and possibly more than you earn), or often buy things that you can't really afford. Partnering with a Saver or a Planner is ideal as they can teach you to enjoy the finer things in life without living beyond your means.
You’re a Planner. You only like to spend your money on items or activities that are pre-calculated or planned in advance. You tend to get along with Savers and other Planners. Dating a Spender or Dreamer could bring about conflicts in a relationship if you don't let loose from time to time.
You’re a Dreamer. You have a lot of big dreams, hopes and aspirations, but no practical financial plans about how to reach your goals. It’s a good idea to find a love match with a Saver or a Planer to keep you grounded in reality.
","url":"https://multiply.ghost.io/check-financial-compatibility/","uuid":"4383621c-9196-4272-a468-c46146414a20","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e456e53f9528e003813cd6b"}},{"node":{"id":"Ghost__Post__5e456c87f9528e003813cd5c","title":"Mortgage rates: going down","slug":"mortgage-rates-down","featured":false,"feature_image":"https://images.unsplash.com/photo-1560518883-ce09059eeffa?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"Borrowing money to buy a house is cheaper now than it was last year.","custom_excerpt":"Borrowing money to buy a house is cheaper now than it was last year.","created_at_pretty":"13 February, 2020","published_at_pretty":"13 February, 2020","updated_at_pretty":"18 March, 2020","created_at":"2020-02-13T15:34:31.000+00:00","published_at":"2020-02-13T17:04:37.000+00:00","updated_at":"2020-03-18T12:31:22.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"tips-from-team","slug":"tips-from-team","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Borrowing money to buy a house is cheaper now than it was last year. Low\nmortgage rates are good news for first-time buyers, making it more affordable to\nget on the property ladder.\n\nThe latest Moneyfacts Mortgage Treasury Report shows that interest rates have\nfallen since last year.\n\nFor a 95% loan-to-value mortgage (which means that you only need a 5% deposit),\nthe average two year fixed rate has decreased 0.19% since February 2019, and is\nnow just 3.25%.\n\nTop two year fixed-rate deals\nAverages are all well and good but let’s have a look at what Multiply's top\npicks of the best two year fixed-rate deals on the market. The figures below are\nbased on a £237,500 repayment mortgage for a first time buyer.\n\n*based on a first-time buyer with a repayment mortgage of £237,500.\n\n\n--------------------------------------------------------------------------------\n\nTop five year fixed-rate deals\nThe average five year fixed-rate mortgage is now 3.56%, down 0.26% from last\nyear. Here's our top picks from the market, if you're looking to fix for five\nyears. \n\nAgain, these figures are based on a first-time buyer taking out a £237,500\nrepayment mortgage.\n\n*based on a first-time buyer with a repayment mortgage of £237,500.\n\n\n--------------------------------------------------------------------------------\n\nStay tuned\nThis is just a sneak peek of the in-depth research our financial advice team\ndoes to keep your financial plan full of the latest rates and top pick accounts.\nLook out for even more juicy insights from the team over the next few weeks.\n\nThe source for the above mortgage rates is Moneysupermarket.","html":"Borrowing money to buy a house is cheaper now than it was last year. Low mortgage rates are good news for first-time buyers, making it more affordable to get on the property ladder.
The latest Moneyfacts Mortgage Treasury Report shows that interest rates have fallen since last year.
For a 95% loan-to-value mortgage (which means that you only need a 5% deposit), the average two year fixed rate has decreased 0.19% since February 2019, and is now just 3.25%.
Averages are all well and good but let’s have a look at what Multiply's top picks of the best two year fixed-rate deals on the market. The figures below are based on a £237,500 repayment mortgage for a first time buyer.
![](\"https://multiply.ghost.io/content/images/2020/02/image-3.png\")
*based on a first-time buyer with a repayment mortgage of £237,500.
The average five year fixed-rate mortgage is now 3.56%, down 0.26% from last year. Here's our top picks from the market, if you're looking to fix for five years.
Again, these figures are based on a first-time buyer taking out a £237,500 repayment mortgage.
![](\"https://multiply.ghost.io/content/images/2020/02/image-4.png\")
*based on a first-time buyer with a repayment mortgage of £237,500.
This is just a sneak peek of the in-depth research our financial advice team does to keep your financial plan full of the latest rates and top pick accounts. Look out for even more juicy insights from the team over the next few weeks.
The source for the above mortgage rates is Moneysupermarket.
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