Financial Fortress Blog!

For many people, pensions are something that quietly build up in the background over time. You contribute each month, maybe through work or a personal plan, and it’s easy not to think too much about it, until retirement starts to feel a little closer. That’s usually when the question changes from “What have I got?”…

For many homeowners, a mortgage is something that quietly runs in the background of everyday life. Payments go out each month, and as long as everything is working smoothly, it’s easy not to think too much about it. But there is one date that is worth keeping an eye on – the end of your…

It’s surprisingly easy to lose track of a pension. Over the course of a career, many people change jobs several times. Each time you move to a new employer, you may join a new workplace pension scheme. Over time, you may build up several pensions with different providers, and it’s easy to forget about one…

Is it time for you to carry out a pension review? Over the course of a working life, it’s very common to build up more than one pension. You might start your career with one employer, move to another company a few years later, and then change jobs again. Each time, a new pension scheme…

One of the most common questions people ask when thinking about retirement is: “Can I retire earlier than State Pension age?” The short answer is: possibly, but it depends on your circumstances. Many people assume they must wait until they receive the State Pension before they can stop working. In reality, your private pensions can…

Most of us wouldn’t hesitate to get a second opinion on our health, our car, or even a major home renovation. Yet when it comes to our finances (arguably one of the most important areas of our lives), many people stick with the same advice year after year without ever checking whether it’s still right….

Many people misunderstand Inheritance Tax (IHT). With the right planning, you can reduce how much tax your loved ones pay. When you understand the basics, you can protect your estate. You can also ensure more of your wealth goes to the people you care about. What Is Inheritance Tax? In the UK, the government charges…

Retirement might feel far away, but the steps you take today can make a huge difference to your financial comfort later in life. Whether you’re just starting your career or approaching retirement age, it’s never too early – or too late – to optimise your retirement plan. Here are practical tips to help you maximise…

For many homeowners, a mortgage is one of their biggest expenses. But did you know that remortgaging (switching your current mortgage to a new deal) can be a smart way to reduce costs and improve your financial situation? At Financial Fortress, our independent mortgage advisers in Chester can help you explore your options and find…

Pension scams are still a very real threat in 2026. With technology becoming more sophisticated, it’s becoming even easier for scammers to fool people out of their life savings! This really makes us angry, you save your whole life, and some low-life scumbag convinces you to give your money away.  Sounds like fantasy, but the…

Scottish income tax has become more complex in 2023, with new bands and rates introduced. In this article, we break down the differences between Scotland and the rest of the UK, and what it could mean for you. BREAKING NEWS (19/12/2023)! Scotland will now have 7 distinct rates or bands of tax whereas the rest…

2023 has been a significant year for Financial Fortress, as we continued supporting clients across Chester and the surrounding areas as financial advisers in Chester, providing advice on mortgages, protection and financial planning. Things do not stay still for very long. In fact, we at Team FF have had our busiest year on record! Markets…

Financial Fortress in Chester is committed to developing our team while continuing to provide clear, professional advice. After five years of training, our apprentice Kieran Broster has now qualified as an Independent Financial Adviser. To support his development, we are offering a limited number of clients a free initial pension or investment review. Our Managing…

Anyone who reads our blogs will often see us talk about inflation and the risks it creates. But for many people, it’s not always clear why inflation matters or how it affects everyday life. With inflation staying high in recent years, it’s becoming more important to understand what’s going on. What Is Inflation? Inflation simply…

In recent years, more people have started asking the same question: what happens if a bank goes bust? In particular, events like the 2008 financial crisis, and more recent issues involving banks such as Credit Suisse and Silicon Valley Bank, have brought this concern back into focus. The good news is that, in the UK,…

Pension Withdrawals and Tax: Why Some UK Savers Paid More Than Expected In recent years, pension freedoms have given people far more flexibility over how and when they access their retirement savings. However, with that flexibility comes an important risk – unexpected tax bills. In fact, figures released by HM Revenue & Customs (HMRC) showed…

The end of the tax year is fast approaching, and with it, an important deadline for making the most of your allowances. In the UK, the tax year ends on 6th April. If you haven’t used your ISA or pension allowances by then, you could lose valuable tax-saving opportunities. What allowances can you still use?…

In recent years, the government has introduced a number of so-called “stealth taxes” – subtle changes that can increase how much tax you pay without officially raising tax rates. In particular, frozen allowances and shifting thresholds are gradually pulling more people into higher tax brackets. So, what does this mean for you, and what should…

Why “Safe” Investments Fell in Value – And What It Means for You In recent months, something unusual has happened in the investment world. Assets that are normally considered “safe” – such as government bonds and fixed interest investments – have seen their values fall. So, what’s going on, and should you be concerned? What…

Interest rates have been rising from historically low levels, and many experts expect this trend to continue. While exact figures may change over time, the direction of travel is what matters most. This article explores what this means for you? Why are interest rates rising? Interest rates are typically increased to help control inflation. As…

We want to take a look at the mini budget impact. Firstly, we would like to start by paying tribute to Queen Elizabeth II who sadly passed away this month.  Regardless of any political view, Her Majesty was a bastion of stability and “Team UK’s” number 1 fan.  The dedication and service shown to everything…

Mr & Mrs Jones came to Malcolm recently as they were on their mortgage lenders standard interest rate having not reviewed it for some time. After Malcolm’s hard work he obtained an offer which was accepted just 60 seconds after the application was submitted!  Malcolm reduced their interest rate from 5.38% to 3.54%. Keeping their…

Wow, now there is the million-dollar question!  As you may know, markets generally are battling with a number of pressures and have reacted in the main by recent falls – the American S&P 500 is over 20% short of its January peak for example.  Whilst this is extremely worrying to our clients, there will always…

Markets are always un-predictable and the past few years have seen levels of uncertainty like never before.  With economic uncertainty, this translates to unpredictability and then into volatility and rattled markets.  Whether it is an unprecedented global pandemic or a certain Mr Putin’s invasion of Ukraine, they have been particularly volatile of late.  Build in…

As we approach the middle of may Em & Phill have reached the half way point of their challenge for Hospice Of The Good Shepherd. The boys have already completed a huge 553,463 steps so far meaning they are way ahead of schedule as they aim for their 1 million steps! Em & Phill had…

Since Russia’s invasion of Ukraine, all countries have been reassessing their defence spending and things that may have seemed like an impossibility just a few months ago (Germany supplying arms to a conflict zone or Finland & Sweden joining the NATO alliance) are now the “new normal” and being taken very seriously!  Sadly, the largely…

This week we sat down with one of our mortgage advisers Malcolm Gorton, to discuss some of the common questions we receive from our clients and followers regarding mortgages and the current state of the market in 2022 . This is what Malcolm had to say: Q: Is now a good time to buy? A:…

Client’s receiving professional & ongoing financial advice between 2001 and 2006 were on average £47,706 better off by 2014-16!  Wow what a stat and really shows the potential power of using a great financial adviser (like us)!! Research by Royal London and the International Longevity Centre (ILC) released recently went on to say that “people…

We can all agree our NHS service is fantastic, available to UK residents completely free of charge. However, the waiting time for diagnostic testing and treatment is huge not to mention frustrating. According to the NHS website the maximum waiting time for non-urgent, consultant-led treatments is 18 weeks – this is from the day your…

Anyone who reads our blogs, will often come across our warnings of inflation and the danger it presents to any economy.  To “an average consumer”, it really is very hard to understand just how dangerous and damaging inflation is.  The last time it was out of control in the UK was over 50 years ago…

Over 55? Short of income in retirement to live the life you would like? Looking to gift a relative money? Repay an existing mortgage or unsecured debt? Landscape your garden? As people now are living longer and longer we are finding more and more of our clients are enquiring about lending in retirement.  As Professional…

Please sign our petition to parliament to make defibrillators cheaper by removing the VAT! All grass roots and voluntary clubs would get a 20% saving off the cost of life saving equipment! http://chng.it/QYNQ4WLM Small business that are not VAT registered, those that are VAT exempt including most voluntary/community/charities would all need to pay the extra…

Following Scottish local elections, the SNP (Scottish National Party) fell just short of an overall majority in the Scottish devolved assembly responsible for any devolved matters.  However, looking at the others result it is clear that a majority of members were returned on a “pro-independence” ticket! Arguments about whether this is the right time (given…

According to the Bank of England and many other commentators, the UK is about to enjoy its fastest rate of economic growth for over 70 years!  Not since 1951 and the end of devastating conflict has growth like it been seen!  The Bank of England has published it expects growth in GDP of 7.25% in…

A basic principle of investing is compound interest!  Basically it is where you invest for the long term and essentially earn “interest on your interest”!  For example, lets pretend you have £50,000 in a pension and leave it invested for 25 years, earning 4% per year.  Here are the results: Simple interest:  £100,000  (£50,000 increase)…

5 star review! ” If you are first time buyer and headache of mortgage, please speak to Malcolm!!! he really helped me a lot to help me out of the predicament. At the beginning I undoubtedly trusted the broker recommended by the estate agent but sadly they took 3 weeks more and only gave me…

This seems to be the big thing right now and our regulator (the FCA) is moving to make discussion of ESG (Ethical, Sustainable & Governance) part of every investment review.  So why is this and does it really matter? Why consider ESG? ESG considerations is being driven largely by 3 factors as follows: Client demand…

If you have total pensions approaching the Lifetime Allowance limit £1,073,100 you may be interested to know the allowance has been frozen until at least 2026. It was expected to increase on 06th April every year (to maintain its value) but this “small change” will mean many more pension savers will trigger a tax charge…

In 2020, the Government announced they would look at a one-off “wealth tax” to help balance the books and the department responsible has now reported its findings with some very surprising recommendations!  If you have more than £500,000 “wealth” you could be caught up! Basically, what is suggested is a “one-off” wealth tax of 5%…

Do you pay council tax?  Then read on!  As we keep banging on, the UK is in a “bit of a pickle” having spent our grand-children’s taxes (let alone the taxes being raised today) and therefore being rocket-scientists, we are trying to best guess what taxes could raise next (and then helping our clients avoid…

There is no better time than now to review your finances.  Despite the doom and gloom of lockdown due to Covid-19, on the positive side millions have found themselves saving more money than ever before. Statistics show the percentage of disposable income that households have saved has risen to an all-time high, with four in…

Escaping the dreaded inheritance tax can be a worry but where your estate (everything you own) is worth more than £1million a tax bill of 40% can be even worse!  Many clients come to us as they want to escape this easily avoided tax but still require access to their money!  According to research by…

In 2019, the UK became the first major economy in the world to actually pass legislation binding itself to achieve net-zero carbon by mid-21st century!  The UK was a trail-blazer in this regard and has now been followed by the EU, South Korea and Japan.  Even China is talking about something similar, aiming to achieve…

As clever as we may be, rocket scientists we are not!  However, it doesn’t take a rocket scientist to understand the Chancellor of the Exchequer will soon need to start plugging the massive £300billion hole in the public books.  What could this possibly mean?  Put brutally, less public spending coupled with higher taxation. Reading between…

More and more clients are becoming interested in ethical investments and with the TV constantly spitting out dramatic footage of our plastic littered sea’s, rivers being poisoned or reporting a steady stream of man-made disasters, we believe the demand will only increase for ethical investments in the coming years. There is even a stock market…

Investments and pensions taken out since 2012 are what we in the industry call “clean” shares meaning the annual management charges are as low as possible and the share itself doesn’t murkily and perpetually pay commission to the adviser that set it all up.  In the bad old days before the industry tried to clean…

According to Legal and General, the amount lent to family members entering the property market in 2018 rose to £5.7bn The average contribution from a family member was £24,000 making family the 11th largest mortgage lender! How can this be explained?  Well, as average house prices have continued to rise and wages under pressure coupled…

Can’t recommend Financial Fortress highly enough Ian Daltrey provided us with outstanding advice for overhauling our pensions, explained everything every step of the way and made everything so seamless that took all the worry away for us. So happy with the advice and service we have received.

Given Lockdown 2 is now upon us, our investment management team has been busily scouring investment opportunities and believe we have spotted an amazing opportunity but be quick!  We have received “insider information” which has even been picked-up by the BBC!  WOW!  ACT NOW!   What could these investment opportunities be?  We have it on very good regard that there are lots of “numpties” and “irrational thinkers” currently “stock-piling” toilet paper…

Fraud is definitely on the increase and recent stats show around £58 million getting scammed with “Corona-inspired” scams this year!  Here we explain what is meant by different types of  fraud and how to protect yourself!  The “interception scam.” Pretty simple really, fraudsters “intercept” your email (Cyber-space) or letters (Snail-mail), alter the bank/contact details and…

Fraud is definitely on the increase and recent stats show around £58 million getting scammed with “Corona-inspired” scams this year!  Here we explain what is meant by different types of fraud and how to protect yourself!  The “unregulated investment scam” Pretty simple really, fraudsters (sometimes even genuine advisers!) convince you invest your hard-gotten savings (or…

REX Financial Services defaulted in September after ceasing all regulated business in the July, leaving its clients in the lurch and potentially facing huge losses.  The FSCS (Financial Services Compensation Scheme) has already received many claims against REX for “dodgy” advice, specifically regarding “self-invested Personal Pensions – or SIPP’s”!  The bad thing is, as a responsible firm,…

Inflation is vital, as we keep saying.  The ability for people to plan-ahead and gently encourage us all to spend our money is vital and this is why steady, managed inflation is important.  A figure of around 2% is seen as “economically required” long term.  Why? – Well imagine if the price of bread rose 100%…

The Bank of England has now written to the UK retails banks, making sure they are prepared for negative interest rates!!  This is not a new thing (on the international stage anyway), Japan and Switzerland are both trail-blazers in this regard but what is happening and what would this mean to your wealth? Under any…

Being as passionate about our team members as we are our clients, we are delighted to announce that our Apprentice Marketeer, Ryan has passed the first of his 3 exams taking a great step forward towards being awarded the BCS Level 3 in Marketing Principles!  We are extremely proud of Ryan, his achievements and his…

As our existing clients know, we always get together at least once per year to check their investment and pensions, allowing for any changes in the year whilst making sure their long-term plans (such as a happy retirement) remain on track!  We also have no doubt that in January we will be inundated with new…

Are you approaching retirement and want to get your finances in order?  Here is the Financial Fortress guide to getting ready!  Get an understanding of your current pensions.  Do you know what they are worth?  Whether you can draw lump sums or income?  Do you even know where they are?  Use our guide to tracing…

In 2014, we were told this would happen – but the UK Government has now announced they will legislate to raise the age at which you can access your pension from 55 now to 57 in 2028.  If you were born after 1971 you will be affected!  So why are they doing it?  Simply put…

Now it doesn’t take a rocket scientist to realise that with the UK debt to GDP ratio surpassing 100%, the widely praised (so far) Chancellor of the Exchequer Mr Sunak now has a battle on his hands to reign in not only the spending but work out how this is to be repaid.  In short,…

According to Morgan Stanley, the stock market is “dislocated from reality” and looking at how far they have rebounded since the depths of Corona-virus this statement is not really surprising.  The S&P (an American index) has rebounded more than 50% since the March lows and has actually now hit an all-time high today (18/08/2020)!  The…

Bank of England data released today (20/08/2020) show that In May 2020, the number of mortgages being approved fell to their lowest ever recorded levels!  The small print shows however that records only began in 1993 (which was also a time of great recession – remember the negative equity debacle?).  This figure got better in June 2020 but were still nearly…

The House of Commons today has published key economic indicators for the UK housing market and it makes for some interesting reading!  Between April 2019 and April 2020 house prices (as measured by the UK House Price Index) increased by 2.6%.  On a “seasonally adjusted basis” however, they have fallen by 0.9%.    It also depends where you…

A “passive fund” can also be known as an “index tracker”, “index fund” or simply “tracker” and aims to replicate (or copy) a particular stock market index with the most common perhaps being the FTSE 100.  As it doesn’t rely on fund managers or stock pickers, they tend to be an extremely cost-effective form of…

Malcolm helped me secure a mortgage during a tricky time, after receiving two previous declines and in the middle of a pandemic!Malcolm provided honest and clear advice from the start. He ensured he only submitted my application to the most suitable lender by assessing my needs thoroughly and researching various lenders and products. He was…

This Saturday sees Chester Pride coming to our living rooms for the first time with Chester Digital Pride. Its the carnival of colour and acceptance, but members of our LGBTQ+ community (and indeed opposite sex couples living together) face some very specific challenges to their finances which, given correct planning in advance can easily be…

If you have reached the grand old state retirement age (currently 67), the way your income escalates (or goes up for inflation) every year is currently guaranteed by something called the “triple-lock”.  Basically, it means your state pension will be increased every year by the higher of 2.5%, price inflation or average wage increases.  Now…

Now any regular reader will know that we always harp on about the threat of inflation being too high, indeed the Bank of England is legally charged with keeping this under control (2% is seen as satisfactory long term) but could inflation now come to the rescue of Governments and the population whose debts are…

What a strange time we live in!  Trying to navigate our clients investments through this turmoil is a nightmare given most of the data is only available “after the events” and depending on how you read it can indicate either good news or bad news!  For example: Figures released last week show that the British…

Since the Corona-virus crisis, mortgage lenders have been withdrawing from various markets basically in complete fear!  Why would you borrow someone money where their job may be at risk or at best only have 80% of their income?  Low-points of the past 3 months include Nationwide pulling all tracker mortgages and no lender offering any mortgage with…

If your buying a property worth up to £500,000 until 31st March 2021 then the good news is, you don’t have to pay any stamp duty with immediate effect!  This could save you up to £15,000 – Wow!  However, if you live in Scotland or Wales, given stamp duty is a “devolved matter”, you will still have to…

One of the most important sayings we have is “past performance is no guarantee of future returns” but can turning to history ever help spot long term trends?  Particularly as we are in the middle of a technical depression that has not been seen in modern times?  There are very few parallels to this “Corona-crisis” but you…

So what do I mean about “Corona-aid”.  The facts are the last 3 months have been extremely expensive times for the tax-man and a combination of people not paying tax (think VAT holidays, 80% wages and corporation tax delays) plus huge payments out of furlough wages and guaranteed support to companies and the self-employed, this…

What a brilliant group of professional people! My particular interest was getting my Pension sorted out, which has been accomplished perfectly. Thank you Wayne, Ian, Kieran and everyone else I met, at your Office.I am grateful for your help, and amazed at the speed and effectiveness of your work! Flying in from Canada to take…

Recent statistics from the Pensions Policy Institute (PPI) and sponsored by Age UK show that the poorest pensioners are relying on the state pension for over three quarters (78%) of their income. Where other state benefits such as housing benefit or pension credit are included, this figure rises to a whopping 86% of income being…

I know we constantly bang on about it but – pension scammers are scum bags that pillage the life savings of innocent hard-working people on a daily basis but…it seems the tide may be turning! Since the summer of 2018, the Government has been running campaigns (including TV adverts) warning people not to “let a…

Statistics from the Pensions Policy Institute (PPI) and sponsored by Age UK show that the poorest pensioners are relying on the state pension for over three quarters (78%) of their income. Where other state benefits such as housing benefit or pension credit are included, this figure rises to a whopping 86% of income being provided…

The British and their castles… I mean err houses!  We have definitely seen an uptick lately in the number of enquiries for people to raise mortgages.  I would even go further and say probably 75% of enquiries are from first time buyers which, from a housing market point of view is a very good sign!…

During this crazy and unexpected time, there are some investments that continue to provide good returns and we get asked all the time, what should we buy?  We often talk about “defensive stocks” making up the bedrock of any portfolio.  Defensive stocks are said to have “elastic demand” and what this means is no matter…

At the beginning of the Corona-virus crisis, when every one was panic-buying their toilet rolls and hand sanitizer I was explaining to the team how complex and lengthy our supply chains really are.  Take apples for example, it takes around 10 years for an apple tree to produce enough fruit to make planting one worthwhile…

Firstly, anyone reading this will be far too young to have experienced first hand a real “depression” but during a recent chat with a senior Director or a UK Bank (which shall remain nameless), they suggested to me that the Board was seriously planning for such an eventuality. A depression is a sustained and long-term…

When all this Corona-virus first kicked off, we were very relaxed about it and thought that the indestructability of advanced and ultra-modern medicine would soon see the virus off and the first time we seriously realised that something was seriously amuck was when UK Government borrowings went into overdrive! Since then, we estimate the Government…

Why is it once again, we find ourselves inundated with clients trying to “beat the tax-man” and use their tax allowances before the end of the tax-year when they have had all year to plan?  Oh well, just a good job we are fully staffed (albeit working from home) and willing to help then, but…

Nationwide Building Society, the UK’s second largest mortgage lender, has pulled all its tracker mortgages from the market following the Bank of England’s decision to reduce interest rates to an ALL TIME RECORD LOW of 0.1%! There are however many other lenders still in the market and being independent we have access to most and…

Another very tough day in the markets after Friday’s brief lull (which we now know was a “Dead cat bounce”).  So, what is going on?  The answer is actually quite simple – no-one knows – which is why we are now firmly in the eye of one of the most chaotic investment storms we have…

If you are the proud owner of a property, chances are you will probably have a mortgage meaning the recent reduction in the “Bank of England Base Rate” has meant you now have opportunity to pay the least amount of interest ever!  The lenders amongst us (Banks, Building Societies etc) were already tripping over themselves…

1 in 6 UK adults in their early 30’s are postponing either buying a home or having a family due to fears about the financial impact on their lives!!  According to a recent YouGov survey. Nearly one-quarter (24%) of 30-35 year olds said they were concerned about the financial impact of major changes in their…

Client’s receiving professional & ongoing financial advice between 2001 and 2006 were on average £47,706 better off by 2014-16!  Wow what a stat and really shows the potential power of using a great financial adviser (like us)!! Research by Royal London and the International Longevity Centre (ILC) released recently went on to say that “people…

Leading local financial advice firm, Financial Fortress Ltd continues to invest in new talent with their latest apprentice, Ryan Hardwick joining their friendly team in Chester. Ryan joins Financial Fortress as Apprentice Marketeer having previously worked for a Supermarket.  He has already been enrolled on the Government recognised Level 3 Digital Marketing course and is…

Our eagle-eyed readers may have noticed our new branding which we have been developing over the last few months! Apparently, it is more in tune with our “friendly”, “local” and “jargon free” attitude to providing the best standards of financial planning. We hope you like it, get in touch and let us know! Our new…

Based in Wrexham and want to contact your local experts? You can now call 01978 788559 or pop and see us in our new offices on Chester Street, in Wrexham’s town centre! Our clients know we love to help them and we continually strive to make visiting us as hassle free as possible. Give us…

We are delighted to launch our new FREE pension tracing service which we will provide to all prospective clients without any obligation! Here is how it works:   You have a phone call with a qualified expert They complete a check on the Government’s pension tracing service They contact your possible providers and former employers…

We never get tired of reading our client feedback! Kieran started as a Trainee around 12 months ago and is now a fully qualified mortgage adviser. Nice to see our clients think as much of him as they do our company so well-done Kieran and keep up the good work!! PS: No your not getting…

Well done Malcolm, however placing all clients at the heart of what we do is standard practise here at Financial Fortress! Get in touch on a no-cost and no obligation basis to experience 5-star service yourself!

Did you see our very own Wayne Musker being interviewed on the BBC news last night?  Worried about Brexit and the impact on your pensions and investments?  Get in touch with your local experts and use your no-cost and no obligation first meeting!

The rumours are true and we have agreed to sponsor all home kits for Newton Athletic FC in Chester and are delighted to reveal our banner which has been erected today at their home ground, The Cheshire County Sports Club in Chester.  Being a local and family owned business, we are super proud to support…

Following our sponsorship of the International Rugby 7’s last weekend, here’s a pic of our own @WayneMusker with England super-star @PhilGreening. Some great stories were being shared here and well done for organising a great weekend of rugby! Phil is also founder of @TheAthleteFactoryChester and well worth a visit!  

As our regular readers will know, our apprentice Kieran came to work at Financial Fortress without being able to swim so we immediately enrolled him in some lessons! Kieran has now completed his 14 swimming lessons (in work time) and we are proud to announce that (although Adam Peaty doesn’t need to worry about his…

On Friday we shut the office early and went to give blood in work time!  Just another little way Financial Fortress gives back to the community we serve! Register to become a donor here: https://www.blood.co.uk/

The latest FT Financial Adviser mystery shopper results have been published. We are not surprised to find out our mortgage advisor Malcolm was the “shopper’s choice” with the top score of 35/35!!  Contact us, your local Independent Financial Advisers to discuss all aspects of your finances including mortgages, pensions, investments, life insurance, estate planning, equity…

On Thursday, our young apprentice will complete his third swimming lesson so here’s a quick update on his progress. We asked Kieran before day 1 how he felt and he said:  “I am very nervous and to be honest and feel like a bit of an idiot for not being able to swim.  I am…