From April 2006, there is now just one set of tax rules for all types of pension, with an individual LA of £1million (2016/2017) and an individual AA of £40,000 (2016/2017). Most individuals are able to fund up to these limits with the possibility to also carrying forward unused AA from the previous 3 years. Exceeding the LA or the AA will simply trigger a tax charge. Early retirement age available from age 55. Flexible options at retirement when deciding to take benefits such as Flexi-access Drawdown.
A fixed rate mortgage allows you to repay interest at a fixed rate, irrespective of any interest rate fluctuations. In other words your monthly repayments will remain the same every month for a time period agreed between you and your lender. Fixed, Tracker and Discount rate mortgages often have early repayment charges so you need to be sure this is suitable for you for the foreseeable future. Furthermore, the lender may also charge a ‘booking/arrangement fee’ to apply for these types of m...AKL Financial...