Independent Financial Adviser - Michelle Procter

19/07/2023

A glimmer of hope!?🤞🏼✨ The Office of National Statistics just announced that inflation has dropped to 7.9% - better than anticipated!

There was a point when it reached a staggering 11.1%! This explains the skyrocketing prices we've been experiencing over the past year or so. 📈

The increase in inflation also led to the Bank of England raising interest rates, which meant better savings rates but also higher interest rates on loans and mortgages. 🏡😣

Lower inflation doesn't necessarily mean prices are going down. It simply means they're not rising as rapidly anymore.

We all know prices naturally increase over time. Remember when a Mars Bar was just 25p? (And twice the size!) 😅 This gradual rise is usually around 2% per year, which is what the Bank of England aims to achieve again in the future.

Once we reach that point, the general view is that savings interest rates should come back down from their current heights, mortgage rates should stabilise somewhere between the current 6-7% fixed rate and the previous 1.5-2.5%, and the prices of goods will stop skyrocketing as they have been.

We'll establish a "new normal" once again. Until, of course, the next events shake the global and UK economy, because that's just the way of the world unfortunately. But it would be nice to see a light at the end of this tunnel and some longer term security and peace of mind.

All eyes are on the swaps rates now but we’re hoping this good news on inflation will give lenders the confidence to stop their funny business with their mortgage rates. I’ll make sure to keep you all updated 😊

13/07/2023

WE’RE OFFLINE ❌

Please note we have a technical fault with our internet which means you won’t be able to get through to us on the usual office number.

If you need anything please contact Michelle Procter on 07769655884 or Pia Weekes on 07415418926.

We’ve got Openreach coming tomorrow morning to fix us back up.

27/06/2021

Anne-Marie will be running 100km(wow!) doing the Lakeland Trials in less than two weeks. This will be done over all sorts of mountanous rough terrain in the Lake District.

She hopes to raise £500 for our local hospice, Rossendale Hospice so if anyone can spare a couple of £s to donate it would be very much appreciated.

Help Michelle Procter Independent Financial Services raise money to support Rossendale Hospice

15/02/2021

Our mortgage adviser Pia will be on Real Life Radio around 11am tomorrow talking all things finance if anyone fancies giving it a listen 👍🏼

16/12/2020

Feeling festive with my colleagues xx

16/12/2020

Festive cheer with my colleagues ###

16/12/2020

We’re feeling all festive in the office today 🥳

24/04/2020

With the Bank of England base rate at an all time low📉 banks are reducing the interest rates on savings accounts, along with the falls in investment markets; now could be a great time to invest! 💷 If you would like to explore your options, feel free to contact us for more information 📞 01706876618 📧 [email protected]

25/03/2020

For anyone worrying about their mortgage payments during these uncertain times 🦠🏠 and potentially looking to utilise the option of a payment holiday ...

I have a number of clients utilising the mortgage payment holidays on the advice from lenders that it won't be marked as a negative factor on their credit reports.

In non-coronavirus times, these traditionally get logged as an 'AR' (arrangement to pay) on reports.

It's a good idea to monitor your credit reports to ensure nothing gets marked against you when it's been promised it won't - so you don't get any nasty surprises for future credit applications.

https://www.checkmyfile.com/?ref=piaweekes&cbap=1 allows you to monitor your reports from multiple agencies including Experian, Equifax, TransUnion and Crediva for you to check what's being reported across the board.

There's a 30 day free trial, then it's £14.99 a month. Many keep it rolling but understandably we're all watching our outgoings, so it can be cancelled at any time online, if you just wanted to keep your eye on it over the next few weeks.

23/03/2020

To all of our clients, whilst we are still operating and providing financial advice as normal, due to the COVID-19 🦠 we are now following Government advice and will be working from home 🏠

We will remain contactable via the office number 📞 01706876618 until it’s safe for us to reopen the office

We hope that you all stay safe during these uncertain times

13/02/2020

Tune in to Rossendale Radio 📻 this afternoon to catch Michelle’s tips on how to be tax efficient in utilising your annual allowances before the new tax year on 6th April 📈