Author Archives: philw

Redundancy – How can CDG help?

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From my own personal experience, I know how hard it is to cope with redundancy. It really does feel like your world is falling apart when you lose your job.

Several years ago I was made redundant twice on the same day. Yes you did read that correctly. Twice on the same day! Allow me to explain. I was working in the world of Estate Agency. At the time I was managing 2 branches. Then one day the parent company called in the receivers. The nightmare had begun. This lead to my role at one of the branches being made redundant, then my role at the second branch was made redundant later on in the same day.

The first thing that hits you is panic. Then “what am I going to do?”

For me it was important that I stayed calm. I then talked everything through with a friend and also a Financial Adviser.

I had to consider my options.

Where can I get work?

Who is hiring?

Call my old contacts?

Think about finances, will my money last?

Where should I put my redundancy pay?

Having done all this I then wrote down my action plan and set to work on it.

I called a company I used to work for, unfortunately they didn’t have any vacancies in my field. However, they did as a mortgage consultant. This would mean retraining, taking exams, (which no one likes) a new start! So I put on the suit and went for the interview the next day.

I got the position, spent the next few months training and the rest as they say is history. This all lead me to the role I enjoy so much now, that of an independent financial adviser.

Over the years I have helped lots of people facing redundancy. My job is to try and take away your financial worries during this difficult time. So seek professional advice, (especially if that someone has been there) talk through your options and plan a strategy by working in partnership.

If you are facing redundancy and would like to talk through your options please do give me a call on 0115 977 1155 or email david@cdgfs.co.uk.

David Pavier Independent Financial Adviser, CDG Financial Services Ltd.

CDG Announce Hospitals Charity Partnership

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CDG are delighted to announce that we are now working in partnership with the Nottingham Hospitals Charity. We will in due course be offering our range of services to the staff of the Queens Medical Centre, Nottingham Children’s Hospital and The City Hospital. Staff from the hospitals seeking our advice will also be benefitting the charity. CDG will be supporting the excellent work done by the charity by donating a proportion of our income derived from the venture. Richard Jephson CDG Business Development Director said “CDG Financial Services are thrilled to be working alongside the Nottingham Hospitals Charity. We hope that we can in some way help provide the added extras that make a genuine difference in patient care”. Also later in the year we will be holding a fund raising event so watch this space. Any of the hospital staff wishing to meet with one of CDG’s advisers, please contact Richard on 0115 977 1155 or email richard@cdgfs.co.uk

Equity Release, who is it for?

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There are two main types of equity release product available, Lifetime Mortgages and Home Reversion Plans. Both products are very similar in many ways but are also very different when it comes to ownership of the home.

A lifetime mortgage allows the homeowner to continue owning the home. However, with a Home reversion scheme the owner sells ownership to the Home Reversion Company but both schemes allow the applicant to retain the right to stay in the home as long as they wish.

Both schemes also allow the over 55’s to release money that is tied up in their home to spend however they like without having to make monthly payments to repay the loan. Beware of the interest roll up though, as this can increase the size of the loan significantly as each year passes.

Demand for equity release is rising fast with over £1 billion raised in 2013 by the over 55’s. Why? Well the most common reasons for releasing money tied up in people’s homes this way fall into one of two categories.

Firstly, they need to release money, because they have debts they can no longer afford to service or they have to pay off their mortgage or even because their retirement income has fallen well below their expectations and they just cannot afford to live without getting into more credit card or personal loan debt.

The second category is that they want to release the cash for things like home improvements, holidays, cars or even a gift to a family member. One of the fastest growing uses of equity release is to provide children with a deposit to buy their own home.

Equity release should not be entered into lightly though and anyone considering this should always explore all of their options first, even consider selling the home and downsizing to release funds. Only when all of the options have been considered and excluded, should equity release be chosen. Even then it should always be discussed with family and those who may be expecting some inheritance in the future.

Advice should also always be taken from a suitably qualified Equity Release Adviser and a Solicitor.

If you would like to know more about equity release, please contact Lee Tabreham at CDG Financial Services Limited on 0115 977 1155 or email  leet@cdgfs.co.uk

Annuities – what are they and why do I need to know?

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It’s a fact that people are living longer and may well need their income to last for 25-30 years in retirement. The majority of the population would like to have a known income in retirement so that they can budget accordingly.  In my experience clients also like the certainty that this money will continue to be paid for their lifetime, maybe even after their death to a spouse.  One of the best products for someone reaching retirement who would like the certainty is an Annuity.

An Annuity is a product that uses the money in your pension fund to provide you with a tax free lump sum of up to 25% of your accrued pot. The remainder of the fund  is used to buy an income for life. This may be taxable dependent on an  individual’s circumstances. Why do I need to know this, I hear you cry? Well, there are a lot of options that you can choose for the remainder of the fund and it is important that you seek Independent Financial Advice.  By talking to a professional, you can make sure your money gives you the highest level of income for your needs; do you want a single or joint life? Do you want to build in any guarantees or percentage increases? How often do you want the income to be paid?

By just keeping with your existing pension provider you could be potentially losing out on an increased income in retirement and settling for a product that does not suit your needs!

I helped a client recently who had a Personal Pension. She came to me to ask if I could better the amount of income in retirement her pension provider had offered. By talking through what was important to her and finding out what other income she was receiving I managed to get her an increase in her income just by tailoring the annuity to her needs and looking at alternative companies.

You can also potentially make your income higher by declaring your health, lifestyle details and postcode! Why would this matter I hear you say? Well more and more people are benefiting from choosing an Enhanced or Impaired Life Annuity. This is when the Annuity provider  looks at your medical history, where you live and even the type of job you used to do .This can result in you being offered a higher income if you meet their criteria.

There are so many options to choose from and once the decision has been made you cannot change it. This is why you should take the time and talk to an Independent Financial Adviser.  We can advise you to make sure that the type of Annuity you choose is right for your circumstances and takes in to account any other income you may receive.

If you would like to discuss your options please do give me a call on 0115 977 1155 or email katherine@cdgfs.co.uk

 

Help to Buy Scheme

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The UK mortgage and housing markets have seen a lack mortgages being available since 2008 preventing many from buying their own homes or moving up the housing ladder. One of the difficulties to purchasing a property is saving up a deposit or building up equity in an existing home.

The Government have launched a number of initiatives to help people to buy their own homes. The Government’s Help to Buy scheme has been designed to help borrowers who wish to purchase a property and only have a small deposit. The scheme falls into two parts: an ‘equity loan’ and a type of insurance for mortgage lenders to help them offer more mortgages to people with small deposits.

A number of high-street lenders are not offering loans for new-build properties through the mortgage guarantee part of Help to Buy, highlighting the increasingly complex relationship between the two halves of the government scheme and raising questions about its impact on the UK residential property market.

Both parts of the scheme encourage first-time buyers to join the market by allowing them to obtain mortgages for properties worth up to £600,000 with a deposit of only 5 per cent.

The first, shared-equity part of Help to Buy is where the government provides an interest-free loan worth 20 per cent of the property that the borrower starts to pay back after five years, this is limited to new-builds. It began in April last year. The second part of the scheme officially began this month and involves the government guaranteeing 15 per cent of the loan value if the borrower defaults. The lender pays a fee for this “insurance”.

If you would like further details on this scheme please contact me on 0115 977 1155 or email me at julia@cdgfs.co.uk.

Julia Hoyes Independent Mortgage Broker CDG Financial Services Ltd

Your home may be repossessed if you do not keep up payments on your mortgage. There will be a fee for arranging a mortgage from £395 to £795 dependant upon your individual circumstances.

Exam success for CDG employees

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Exam Success for Daniel

Success has come to CDG administrator Daniel Skinner. In November he gained an NVQ Level 3 Advanced Diploma in Business Administration. He was mentored by Christine Chegwidden from the ESG Group. CDG Managing Director Phil Wort said “Daniel has worked very hard and his success is richly deserved. It also demonstrates CDG’s commitment to staff career progression throughout the business”.

 

Congratulations!

Well done to CDG Financial Adviser Katherine Ashton. Her efforts have gained her the certificate in Equity Release as recognised by the Chartered Insurance Institute. Along with CDG Mortgage Adviser Lee Tabreham she becomes one of the few financial advisers to obtain the certificate. Katherine said “Along with my qualification in Long Term Care planning, this will allow me to offer my clients a greater range of expertise and services”.

CDG Financial Services launches dedicated mortgage advice team

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CDG Financial Services has launched a dedicated mortgage advice service in response to growing client demand.

As part of the move, we have appointed mortgage adviser Julia Hoyes who has more than 20 years’ experience in residential and buy to let mortgage advice.

Julia, who was a personal relationship manager for NatWest for many years, has also worked as a self-employed mortgage broker.

In her new role she will assist Lee Tabreham, CDG’s resident mortgage expert, in growing the mortgage team’s client portfolio which   features lettings agents, property developers, solicitors and accountants as well as residential borrowers.

Over the next two years, we also plan to appoint a further three experienced mortgage advisers, taking the team to five.

Julia, who is originally from West Bridgford but now lives in Wilford, has seen a steady rise in the number of new home loan inquiries as more products come on to the market.

She said: “There’s definitely been a change. A few months ago, remortgages accounted for a higher proportion of  my workload but  now they make  up about fifty per cent of it. I’m also dealing with more borrowers looking to buy to let.”

Although  lenders are making it easier for parents to help their children  buy a first  home,   most first time purchasers are entering the market without  parental financial assistance, Julia added.

“In my experience, they are  are saving up for the deposit themselves although there are  now a lot more financial products available to help families.   Most first time buyers are leaving it a little later though before taking that initial step on the housing ladder, with most waiting until they’re in their late twenties or early thirties.”

Julia,  a Nottingham Forest fan, recently became engaged to partner Phil, who is a lifelong Notts. County supporter.  However, as the daughter of the late former Notts County footballer Colin Guyler, Julia is happy to watch both teams.

CDG welcomes first female IFA

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CDG has further strengthened its team with the appointment of another Independent Financial Adviser.

Katherine Ashton, who was previously with The Oval Group in Tollerton, is the first female IFA to join the rapidly expanding business on Castle Boulevard.

A graduate of Nottingham Business School, Katherine has a degree in Accounting and Finance and has worked in the Financial Services sector for 10 years. She is also is a member of the Chartered Insurance Institute.

She provides advice in the areas of investments, pensions, and retirement planning, and holds a specialist qualification in long- term care planning.

Katherine, who is 32 and originally from Cambridge, said she, was looking forward to being part of CDG’s expanding and dynamic team.

Katherine, who lives in Basford, is a keen hockey player.  Involved in the sport since the age of 11, she currently plays for Nottinghamshire’s Redhill Ladies Hockey Club.

CDG managing director Phil Wort said: “We’re pleased to welcome another experienced IFA to our team and to have appointed our first female adviser.  Katherine is the third senior adviser we’ve taken on in the past four months and her appointment gives us greater scope to extend the range of services we offer to clients.”

New starts at CDG

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CDG continues expansion with appointment of mortgage broker and a further IFA

 

Nottingham based financial services group CDG is now offering in-house mortgage advice and extending its geographical reach following the appointment of two more senior advisers.

The growing business which moved into new offices in Castle Boulevard last November, has taken on a mortgage broker and another experienced independent financial adviser.

Lee Tabreham, CDG’s resident mortgage expert, began his career as a mortgage adviser in 2006 after working in the circulation department of a national newspaper for 14 years.

Before joining CDG he worked for a Sheffield-based firm and is among only a few mortgage brokers qualified to advise on Equity Release products.

Lee, who was offered the job after a local solicitor recommended his services to CDG, said he was impressed by the firm’s ambition and the support it showed its advisers.

He added: “It’s a good time for CDG to be moving into dedicated in-house mortgage advice. The sector is definitely improving with far more mortgage products now on the market than there were 12 to 18 months ago.”

Lee, who shares his Ilkeston home with wife Cheryl, four children, two cats and a cocker spaniel, likes walking the dog and playing five a side football. He also coaches Stanton Ilkeston FC’s under 7’s team.

Lee Perry, who has worked in financial services for 20 years, joins CDG from Lloyds TSB in Wolverhampton.

Based in Burton upon Trent, he will drive the firm’s expansion of its IFA services into the Burton and Derbyshire areas.

A fully qualified IFA, his main role involves helping clients with their longer term investment and retirement planning.

He added: “CDG takes an holistic approach to financial planning and in this role I’m now able to offer clients products from the whole of the market.”

Lee, who is married to Tracy and has a young daughter Maia, is a keen skier. He also enjoys helping out at his daughter’s school, Holy Trinity in Burton, and is member of Burton Round Table.

CDG, which launched its recruitment drive at the end of 2012, is in the process of taking on two more IFAs. It also plans to appoint another one by the end of this year, bringing its team of experienced advisers to seven.

CDG’s business development director Richard Jephson added: “Our two latest recruits bring a wealth of experience to CDG and will allow us to expand in the East Midlands as well as being able to provide clients with immediate access to sound mortgage advice.”

September 2012 “You’re hired!!” apprentice joins CDG

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Daniel Skinner has been hired by the CDG team as our apprentice. Daniel who recently completed his A levels has joined us on a one year placement. He will be helping keep our client data up to date as well as learning the ropes in the world of financial services. Phil Wort Managing Director of CDG said ” We are really pleased to be giving Daniel this opportunity. It will give him the chance to understand the business and get a feel for what the industry is all about”