“Principles”
Tel: 01625 878242

 

AMG can offer a whole range of different areas of advice. We have used our years of experience to build a knowledge of the marketplace helping you find the right products and providers for your circumstances. We generally split these into the following areas.

  1. Mortgage Advice
  2. Financial Planning
  3. Buildings and contents insurance
  4. Wills and trusts
  5. Pensions and investments (through our subsidiary Poynton Financial Services)

Please be aware that by clicking on the above links you are leaving the AMG Financial Solutions Limited. Please note that neither AMG Financial Solutions Limited nor Pink Home Loans are responsible for the accuracy of the information contained within the linked sites accessible from this page.

Our aims offer holistic planning marrying the different elements of your financial planning into a bespoke individual plan.

Here is a beginners guide to the areas we will consider.

 

Mortgages

Can be set up on a capital and interest basis (repayment), interest only or part and part depending on circumstances. AMG are whole of market mortgage advisers as well as having exclusive products with the banks and building societies

Capital and Interest.

This is the traditional way of repaying your mortgage. You pay an element of interest and an element of capital in your monthly payment. The balances of debt reduces over time guaranteeing to pay off your mortgage in full at the end of the term if payments are met. A higher proportion of interest is payable in the early years and the balance reduces faster in the later years. This is the most common vehicle to repay your mortgage.

Interest only.

Popular for the experienced borrower and landlords. Your monthly payment consists of purely interest leaving the balance of debt constant throughout the term. A separate repayment strategy needs to be adopted, including various investments or sale of property. Usually used for the most complicated of circumstances.

Part and part.

A combination of the two above options.

 

Products.

 

Once decided on the repayment strategy we can look at products with the lenders. These are split into various types

Fixed rate

For a set period of time your mortgage interest is set, allowing you to budget and plan effectively. Generally reverts to the lenders variable rate on maturity. The most popular type of mortgage product.

Discount rate

For a set period of time you receive a discount from the lenders standard variable rate. This payment can go up or down as the market changes or the lender dictates.

Tracker rate.

For a set period of time your mortgage interest payment follows a margin related to the Bank of England rate or LIBOR rate. Whilst similar to a discount rate this is less dependent on the lender and more on market forces.

Cap and collared

A variable rate mortgage with a ceiling and floor so the interest rate can only move within a range. Fairly uncommon in the current market.

 

Financial planning

At AMG we believe protecting peoples standard of living is an important part of our role. The easiest way to protect this is through insurance products. Here is a summary of the most important ones. We work with a range of companies to provide the most suitable, comprehensive and cost effective products: here are our basic principles.

Life cover.

This pays out a lump sum or an income on death within a term. This can be used to protect family, debt or businesses. We generally recommend this to at least retirement and suggest the premiums should be guaranteed and index linked, future proofing your cover. Trusts should be considered when setting this up to ensure the money goes to the right place at the right time should you claim. We will review your existing arrangements and/or your work contract to tailor this to your circumstances.

Critical illness cover.

This pays out a lump sum on diagnosis of a specified critical illness. Again this can be used for debt, family or business needs. These plans have been enhanced greatly over the last few years with many insurers improving their terms and conditions and the illnesses they cover. An element of this cover could offer long and short term peace of mind.

Income protection.

This protection plan offers you a long term income if unable to do the normal duties of your occupation until you return to work, retire or die. A fully comprehensive (own occupation) plan should be the bedrock of your financial plan. various levels of this cover are available when used in conjunction with your sick pay through work or savings.

Building and Contents Insurance

This cover is essential for most mortgage companies and your own peace of mind. We use a range of bespoke providers to find the right cover for your needs.

Buildings insurance

Designed to cover the bricks and mortar in the event of events such as fire, flooding and damage. We offer a range of bespoke providers offering comprehensive cover. This is often combined with contents insurance. For house purchases this should be in place at exchange of contracts.

Contents insurance

This covers your personal possessions against loss, damage and theft. A whole host of additional features can be added to this cover to provide peace of mind. For house purchase this needs to be started when you complete.

Wills and Trusts

Once your financial plan is in place it is important to have an up to date Will as an expression of your wishes.

AMG Financial Solutions has a sister company AMG Wills and Probate which can advise on the right kind of Will for your circumstances. We can also offer Lasting Powers of Attorney and various kinds of trusts.  Once completed we can even store it for you ensuring it never gets lost!

Pensions and Investments

To complete our holistic planning services AMG Financial Solutions uses another sister company Poynton Financial Services to advise on all forms of pensions and investments.

Please be aware that by clicking on the above links you are leaving the AMG Financial Solutions Limited. Please note that neither AMG Financial Solutions Limited nor Pink Home Loans are responsible for the accuracy of the information contained within the linked sites accessible from this page.