Benefits, Taxation, Inheritance, Wills & Estate Planning

Benefits, Taxation, Inheritance, Wills & Estate Planning

Fish4Mortgage is located in Weston-super-Mare, Somerset & is the area’s leading Mortgage Broker with over 25 years of knowledge in the field. We specialise in many areas including re-mortgages, first time buyers, commercial mortgages, general insurance & secured loans. Explore our website to find out more information & also go ahead & use our Mortgage Calculator to see what deals are available to you.

Entitlement to Benefits & Changes To Assessed Income Periods After 5th April 2016

Benefit changes can have an impact on your financial position if you take out an Equity Release scheme. If you proceed we will provide you with a benefits entitlement report as part of the Suitability Report to establish any effect releasing the money will have on your entitlement to Pensions Credit, Council Tax Benefit and Working Age Benefit.

If you already have an AIP that is due to end between 6 April 2016 and 31 March 2019, it will end – either on the original date on your Pension Credit Award letter, or earlier if your household circumstances change. If you already have an AIP that is due to end on or after 1 April 2019, it will end early and will not be renewed. If you currently receive Pension Credit, the DWP will write to you telling you the new end date 6 months in advance. You can also find the new end date on the DWP website.

The Equity Release Council is keen to ensure you know what impact on any Pension Credit any Equity Release plan you enter into will have to avoid you taking decisions which may mean you losing out financially.

Inheritance Tax

The use of an Equity Release Scheme will reduce the values of your estate however this may help reduce any Inheritance Tax. Currently the standard Inheritance Tax rate is 40%. It’s only charged on the part of your estate that’s above the threshold. For example if your estate is worth £500,000 and your tax-free threshold is £325,000. The Inheritance Tax charged will be 40% of £175,000 (£500,000 minus £325,000). Since April 2017 you have been able claim an extra £100,000 – rising to £175,000 by 2020 – against the value of your home if you are passing it on to a direct descendant. This will eventually allow a couple to pass on a £1m home tax free. Equity release could be used to reduce the taxable value of an estate. When the person with the equity release plan dies, the mortgage is paid off from the value of the estate, with IHT then due on the remainder of the value. If, after the loan is paid off, the property is below the taxable value, no IHT would be due. Ultimately, you need to weigh up all of the alternatives and with our help decide if this is for you. Whether these alternatives meet your requirements.

Wills & Estate Planning

The Financial Conduct Authority do not regulate on estate planning and will writing. If you do not leave clear instructions on how you wish to distribute your estate when you die, there is no guarantee that your assets will go to the rightful beneficiaries. This could mean that your spouse, partner, or even your children, lose some, or all, of their inheritance!

Without professional will writing, there could be further complications including:

  • Children or Vulnerable Adults being taken into care while guardians are appointed
  • Lengthy delays and disputes for your beneficiaries
  • ‘Common Law’ partners not receiving anything

Will writers can draw up your Will and can call on specialist Will writers, if your Will is complex. While Will writing is not regulated by the Financial Conduct Authority not all Will writers are specialists in their field. It is recommended working with companies whose Will writers are members of S.T.E.P (The Society of Trust and Estate Practitioners). Frost Financial Services accepts no responsibility for the service provided by external Will writers.

So for the most competitive mortgages on the market telephone us now on

01934 519 111 or freephone 0800 567 7482

or fill out the form below & one of our qualified advisers will call you back shortly.

Your first name*
Your last name*
Your phone number*
Your email address*

How would you like to be contacted:

Your message (optional)

We would highly recommend Fish4Mortgage, in particular Brian, who went above and beyond to answer all our queries and obtain what we were hoping to achieve. Always on hand to reassure and give advice in a very professional but friendly manner, making the whole process relatively stressfree. Can't thank him enough, and will definitely deal with them again in the near future.
Julie Wingrove
Julie Wingrove
2018-07-04T16:14:03+0000
This should have been posted about two weeks ago but I’m a scatter brain!!Me and my partner Ollie were trying to buy our first home. Everywhere we went told us we were in over our heads, that we’d never have our dream home and to “aim lower” but not at the mortgage shop!!!! Tim went above and beyond to help us and supported us every step of the way! He keeps everything light hearted and he will talk to you in a way that makes it easy to understand (he doesn’t blur you with figures and terms ) Truly the nicest man and the best service! If it wasn’t for everyone at the mortgage shop we wouldn’t have our own home! We are just about to move into our home as a family and settle in and it’s all thanks to Tim.EVERYONE should be using Fish4Mortgage and if you’re not? You’re crazy!
Jordan Paige Kenny
Jordan Paige Kenny
2018-05-18T21:36:43+0000
Good evening Tim,Thank you very much for all of your help. You have been very professional and helpful at all times. When I first started the remortgage process, I had very little knowledge and understanding of what needed to be done. Every question that I asked was returned with a very quick and easy to digest response, which has made this a very smooth process for me. I look forward to working with you and your company again in the future and would have no hesitation in recommending you again.
Andrew Woodley
Andrew Woodley
2018-04-26T12:05:11+0000
We experienced an efficient and stress free process and our mortgage application was completed within 4 weeksThank you Brian for a great service.
Fiona Macinnes
Fiona Macinnes
2018-03-03T20:06:01+0000
From start to finish Tim was amazing, couldn’t do enough for us, helped us every step of the way selling our old house & buying our new one. Tim kept in contact all the way through & went above & beyond to ensure our move went through as smoothly as possible. Highly recommended !!!
Mark Bailey
Mark Bailey
2018-01-02T21:14:31+0000
A big thank you to Tim and the team didn’t think we would be where we are today but we are and I love our home so thank u very much couldn’t of done it without ur help �
Annmarie Muldoon
Annmarie Muldoon
2017-11-11T11:56:51+0000
We were looking to by our first house and went in completely blind. Everybody at fish4mortage were brilliant. But a special thanks to Tim. From start to finish everything ran so smoothly. Any issues or queries we had he was always ready on the other end of the phone and kept in contact religiously every step of the way. Highly reccomened to everybody!! 5*
Michael Woodward
Michael Woodward
2017-08-19T08:19:45+0000
My mum tried for a mortgage 7 years ago, however debts from a business made her lose the mortgage that they agreed. She then tried other places but was refused by mortgage companies. She then tried again recently, going to different mortgage brokers and banks, one person quoting 'he would eat his hat if she was given a mortgage.' 🤔😕 She then gave up and thought she would have to sell her house, to pay her ex husband out. Luckily she was recommended Fish4Mortgage, and they were the only ones to get her a mortgage. Bearing in mind she is a foster carer and had massive debts, normally they would not entertain this criteria. They were amazing and worked above and beyond on her behalf and now she can proudly say she has kept her house thanks to them. Cannot recommend enough! Needless to say... She hopes the previous man has a sumbero.Thanks to Claire and all the team, you were amazing!
Khalid Barmaki
Khalid Barmaki
2017-05-06T10:39:12+0000
For first time buyers it can be very scary, but they made sure we had the best mortgage possible and was always there for advice, would highly recommend.
Nikki Curtis
Nikki Curtis
2016-02-17T15:44:35+0000
Brian Frost
Brian Frost
2016-02-17T09:29:19+0000
For a first time buyer like myself mortgages seem daunting and complicated, however the team at fish4mortgages made it simple and stress free as well as saving me money. Couldn't recommend them enough.
Patrick Berryman
Patrick Berryman
2016-02-16T22:10:41+0000
Highly professional and very helpful ! Would recommend to anyone looking for help with mortgages !
Lizi Macbeth
Lizi Macbeth
2016-02-16T22:09:21+0000
Really friendly service !! Would highly recommend the team 🙂
Emma Fox
Emma Fox
2016-02-16T17:20:28+0000
Brian was really helpful to myself and my husband when we were trying to find a mortgage that was best suited to us. Brian is extremely knowledgeable and pointed us in all the right directions :)! We were able to relax knowing all was under control with the mortgage as it was one less thing to stress about when moving house! Definitely recommend these guys!!
Kyle Chloe
Kyle Chloe
2016-02-16T16:44:59+0000

Support us!

Please help us to grow our business and provide a better service.