Time for a spring clean?

In this edition of the adviser we take a look at a number of issues that could impact on your financial wellbeing. In our Business Protection feature we consider the risks involved in not fully protecting your key employees, whilst in our 'Working Women' article we investigate why women are failing to adequately protect themselves and loved ones. This issue also discusses the value in switching away from standard variable rate mortgages and highlights the changes that we have made to our website. Oh, and for golf enthusiasts, we have a competition where you could win a round of golf.

51a High Street
RG29 1LF

Tel: 0845 226 5009
Fax: 0845 226 5599
Email: paul.skinner@pks.org.uk
Web: http://pks.org.uk


Is your business covered?

Is your business fit and healthy? How about the health of your key employees? Do you know what you would do in the event of a key employee dying?

In a recent survey carried out by Legal & General and the Institute of Directors, a majority* of businesses had no formal agreement in place to establish what would happen in the event of the death or critical illness of a business owner. What's more, a significant number** had made no provision to cover the loss of a key person. The survey also identified that 39% of businesses would cease trading if the business owner died.

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Working Women Still Unprotected

A recent study carried out by Bright Grey (Protection Provider) identified that nearly half of working women consider themselves to be the main earners in their family. The report also showed that women have more influence over financial matters in the home. In fact the results showed that almost two thirds of working women are most likely to raise money discussions in their household.

Despite this emerging trend toward financial equality women are still failing to adequately protect themselves and loved ones against the unexpected. Over half of working women (53%) do not have life insurance and a staggering 84% of working women do not have income protection in place. Quite a scary prospect considering the shift towards female breadwinners!

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Have you visited us lately?

Did you know that we have a number of tools available on our website designed to save you money?

Over the past few months we've developed a mortgage calculator that can calculate your monthly payments at the push of a button. You can now also find a mortgage comparison tool which can search through 1000s of schemes to help you identify the right mortgage for you.

In addition to the mortgage tools we now also have a Life Insurance quotation system on our website too. With a few simple clicks we can help you find the best deal for your circumstances.

Of course, these tools do not offer an alternative to the personal advice and recommendation service that we can offer you but if you're browsing or simply looking at what you can afford, why not give them a try.

A delay in switching could cost more!

Homeowners are failing to make a switch from their standard variable rates. When mortgage holders, who are at the end of their current deals, were recently surveyed*, they were influenced more by monthly payments than rate changes. Only 10% of homeowners would switch rates if their interest rates rose by 1% yet a staggering 41% would move if their payments rose by £100.

Interestingly a 1% rise in interest rates could lead to a rise in mortgage payments of over £100, but only when faced with a possibility of rates rising by 3% would a large proportion of these homeowners look to switch.

Paul Skinner of PKS commented "The main problem here is that by the time rates have begun to move this much, it may be too late for these homeowners to find a competitive rate". He went on to say "The majority of mortgage holders do not seem to be able to relate the risk of interest rates rising with a rise in mortgage costs, and this may lead to them missing out when rates eventually go up".

It is easy to see why there is a reluctance to switch with standard variable rates so low, and homeowners enjoying the benefits of low mortgage payments, but those investigating their options now could benefit in the long run.

If you would like to have a no obligation review of your current mortgage situation give us a call on 0845 226 5009.

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For your chance to win a free round of golf up to 4 people Weybrook Park, Basingstoke simply visit our website (click here) and answer the simple question.

Why not have a browse of our new tools whilst you are there?

Competition closes Thursday 19th May 2011. Correct entries to be placed in a draw and the winner selected at random on the 20th May 2011. Your details will not be used for any other marketing purposes, and will not be passed on to any third parties. Participants must be over 18 and only one correct entry is allowed per person. Winners will be notified by email before 31st May 2011. The Promoters decision is final. Promoter: PKS Property Services, 10 Addison Gardens, Odiham, Hook, Hants, RG29 1AS. Prize to be redeemed by 31st August 2011. Weybrook Park golf club rules apply. Please visit Weybrook Park website (click here) for further details.


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This newsletter should not be construed as personal financial advice nor any financial decisions made, based purely on the content. If you would like to discuss organising your financial affairs or are unsure of the suitability of your current arrangements please contact us for advice. This newsletter is based on current legislation, which is subject to change. It is issued by PKS, registered office 10 Addison Gardens, Odiham, Hants RG29 1AS which is is authorised and regulated by the Financial Services Authority in respect of mortgage and general insurance only.