Whittington Goddard Associates

read moreEstablished in 2003, the team at Whittington Goddard Associates Ltd has many years' experience providing practical financial planning advice to people, families and businesses in Sheffield and the surrounding area. We provide advice across a wide range of services including investments & savings, pensions & retirement planning, life cover & income protection, mortgages & equity release and care fees planning. We are committed to putting clients at the heart of everything we do and to developing long-term relationships with our clients.

read moreStandard Variable Rate (SVR) - The SVR is the lender's standard rate. With a variable rate mortgage you are normally able to switch lenders at any time without being penalised. If you take out a mortgage that has a fixed, tracker or discounted rate, once the set period of time ends the loan will usually revert to the lender's SVR. Fixed Rate - A fixed rate mortgage allows you to repay interest at a set 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.

read moreA Lasting Power of Attorney (LPA) or Welfare power of attorney (If in Scotland) is a legal document that allows a person to appoint a trusted person to handle their financial affairs and their health and welfare. Both documents are extremely beneficial and is usually seen as the final piece of the process of planning and protecting your estate. The Mental Capacity Act 2005 created a Code of Practice that must be followed by the people appointed to act on behalf of the donor which not only protects the donor, their assets and health choices but also assists the people appointed to ensure that they are acting in the best interests of the donor.

read moreWith house prices remaining high, many older people have tens of thousands of pounds locked up in their properties. For those who reach retirement and find living on their pension a financial struggle, equity release could provide a way to benefit from the value, the equity, they have in their property. For many, the thought of downsizing in later life would represent a step too far; by contrast, equity release allows you to stay in your own home and familiar surroundings, whilst at the same time accessing and enjoying the wealth you have tied up in it.

read moreBusinesses may want to protect the key directors and employees within their firm - perhaps the key salesperson, or the IT manager without whom the business will not function properly. Keyperson / shareholder / partnership protection can provide a fixed sum should the individual be unable to work, or even die. The benefit will be designed to cover the firm's expenses in meeting any emergency costs, recruiting a replacement employee and protecting the future of the business. If a shareholder were to pass away, the firm's remaining shareholders or directors may want protection that enables them to purchase the deceased's shares from their estate promptly to maintain control of their business.

read moreMortgages are one of the largest single transactions in most people's lives. Buying a property can be a stressful and time consuming experience; nowadays the financing of a mortgage is a case of finding and selecting the most suitable mortgage, rather than simply accepting a lender's offer. Banks, building societies and smaller niche lenders compete for your business, all offering a variety of interest rate deals, associated fees and other enhancements to attract borrowers. The two main methods of paying a mortgage are repayment (capital and interest) and interest-only.

read moreIf you die without a Will, then the government will decide who will inherit your estate in accordance with the Laws of Intestacy. These were drawn up in the 1920's, and despite major revisions in 2014, may not accord with your wishes. Depending upon circumstances and the size of your estate, your spouse may end up sharing your assets with your children. Or, if you are an unmarried couple, then your partner may not get anything. If you do not make provision for young children, then the authorities will decide who is best placed to look after them, which may be hugely upsetting and disruptive.

read morePensions are, of course, designed to enable you to save sufficient money during your working life to provide an income stream for you to live comfortably after you have retired. There are many different 'tools' used to save for retirement and the taxation and investment elements of pensions can appear baffling. We specialise in explaining, recommending and monitoring pensions for you. Below are the most common sources of pension income to provide for your retirement. The new State Pension is a regular payment from the government that you can claim if you have reached State Pension Age (SPA) on or after 6 April 2016.