ISA Season: Get More for Your Money
What’s the first thing you think of when somebody mentions an ISA?
For most people, it’s the tax-free benefits! Although this is a fantastic feature, it’s not the only benefit you should consider when choosing your ISA – the returns, terms and flexibility can vary greatly.
The wide range of ISAs can get a little confusing, although as some accounts offer in excess of five times the average interest rates, it’s definitely worth checking that you’re making the most of your tax-free allowance. The good news is that it’s simple to switch accounts if you find something better!
Think of your ISA in the same way as a new relationship – it’s a big commitment and you may be tied to your decision for several years. With this in mind, the Kuflink experts have put together five top tips to ensure the next ISA you meet is ‘the one’!
What’s your type?
As the saying goes, each to their own! There are many different types of ISA to choose from, including Cash ISAs, Stocks and Shares ISAs, Innovative Finance ISAs, Lifetime ISAs and Help-to-Buy ISAs. Each ISA offers a unique set of features and benefits, so whether you’re saving for a specific purpose or just want to ensure you’re getting the best return on your money, it’s important to do your research.
There will be highs and lows
Interest rates are a deciding feature for many ISA holders, but with average ISA returns now sitting at just 1.03% (that’s below inflation!), it’s more important than ever to shop around for the best deal. Why allow your hard-earned cash to underperform when you could earn up to 9.13% with Kuflink’s IF-ISA? *
Are you looking for a long-term relationship?
Although a longer ISA term often means a higher interest rate, there are a number of things you should consider before deciding on a long-term ISA relationship! Account terms generally range from 1 year to lifetime options, and although some ISAs offer flexible access to your cash, many are fixed-term – make sure your commitment suits your own financial needs.
Be wary of expensive break-ups!
It’s crucial that you check your exit fees before switching ISAs – your existing provider may charge you to transfer out, and your new provider may charge you to transfer in. If you’re looking to switch to an Innovative Finance ISA that doesn’t charge a fee for transfers in, check out the Kuflink IF-ISA. What’s more, Kuflink doesn’t charge any ISA management fees, so you keep every penny you earn!
Know your boundaries
Each tax year, HMRC set an annual ISA allowance, which increased from £15,240 in 2016/17 to £20,000 for the current tax year, and will remain at £20,000 for 2018/19.
This is the maximum you’ll be allowed to save across your entire ISA portfolio for the year, so if you have more than one ISA, you’ll need to keep an eye on your total savings amount to ensure you don’t exceed the tax-free limit.
Kuflink’s IF-ISA at a glance…
If you’re in search of an ISA with higher returns for the 2018/19 tax year, then why not consider a transfer to Kuflink’s IF-ISA?
Earn up to 9.13% interest pa*
Tax-free interest on P2P investments
1, 3 or 5-year fixed term
Kuflink does not charge you to transfer in**
HMRC-approved ISA Manager
*Capital is at risk. Rate based on a 5-year fixed-term investment. You should seek independent financial advice. Tax treatment depends on individual circumstances and may be subject to change in future.
**You may be subject to exit fees from your existing ISA provider.
Ultimate guide to Innovative Finance ISAs: Part Four
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P2P Business Lending Up 51%
A new study has shown that UK SMEs (Small and Medium-Sized Enterprises) are now seeking finance from a more diverse range of sources than ever, with peer-to-peer business lending up 51%.
Many choose P2P finance for its speed and flexibility although, given less than half of SMEs feel confident they’d be approved for a bank loan, alternative finance solutions are fast becoming an essential lifeline for many small businesses.
Peer-to-peer business loans enable growth and stability, whether the goal is to start-up or scale-up!
The value of P2P business lending is up 51%
Faith in high street banks is at an all-time low, so it’s no surprise that P2P lenders have seen a huge rise in business customers. In many cases, P2P lenders offer a more attractive proposition – to date, more than £14 million has been invested with Kuflink, supported by our careful risk management processes.
The value of SME asset finance deals is up 12%
Not only are more business owners choosing P2P platforms than ever, the value of asset-backed deals is also increasing – whether you’re looking to borrow £50,000 or £500,000, speak to Kuflink today.
47% of SMEs said they were aware of P2P platforms
In stark contrast to just 24% in 2012, an impressive 47% of SMEs are now aware of peer-to-peer platforms. This shows that peer-to-peer finance is now a well-established, mainstream option for many businesses. The Kuflink community is already full of thousands of savvy peer-to-peer investors, but there’s always room for more to join!
Kuflink is already helping SMEs to achieve their goals
Click on the case studies below to see Kuflink’s fast and effective finance solutions in action!
Had enough of putting your business plans on hold whilst you wait for a decision from the bank? Kuflink offer quicker, more reliable and more flexible finance options than many traditional ways of raising funds – get in touch today to find out how we could help make your dreams a reality!
Maximising Space in the Office and Home
Space, whether it be at home or in the office is a much-valued commodity and one that many of us strive to maximise. Making the most of the space that you have can be a catalyst for many things, for example, it is calming and so can help minimise stress. There are some rooms in the home or office, however, where it is difficult to use the space as effectively as is desired and it is in these spaces that careful consideration and a little “blue sky thinking” can go a long way. Here are some top tips for maximising the space in the home or office.
Open Plan Living and Working
The physical structure and dimensions of a living or working space are the single most important element when it comes to maximising space. Looking to achieve an open plan design will make the space look bigger than it actually is, make the space lighter, and more airy. Taking down internal walls, that are surplus to requirements is the first step towards creating an open plan space and once this has been completed you can start to consider windows and doors.
Some designers would argue that doing away with internal doors completely is the way forward, however, sometimes being able to divide the space into distinct zones is necessary. In this instance folding doors, such as the ones supplied by Barrier Components are a great solution.
As far as windows are concerned the bigger the better, on the proviso that they are super-insulated and that they do not compromise the integrity of the buildings original design.
Free Flowing Colour and Flooring
Another way to help a space look bigger is to carefully plan how the rooms will be decorated and here using free flowing colour and floor covering is key. That is to say, that by using the same colour paint on the walls and the same floor covering throughout, there will be an unbroken flow, thus giving the illusion of a bigger space. Then use accents such as framed photographs and paintings so that the walls don’t look too cold or stark. Also, think about the colour of walls, ceilings and floors. It is widely accepted that, generally speaking, choosing lighter colours helps make a space look bigger and lighter.
Don’t Compromise on Clutter
It is easy to overfill a room, particularly a smaller space, with unnecessary pieces of furniture, storage and other items that can make a room look cluttered. Here, taking a smart approach and not compromising when it comes to clutter is paramount if you are to maximise the space. Consider using multifunctional furniture and make the most of areas like alcoves, where shelves can be elevated for storage.
Maximising the space in the home or office is not difficult to achieve, but it does involve some discipline and taking a minimalist approach. A systematic plan, starting with the modification of the physical structure and then progressing to the decorating and furnishing will leave you in doubt that less, in this instance, is definitely more.
This is a guest post, written by Property Division.
UK FinTech: Put Your Money Where Your Mouse Is
For many of us, the term ‘FinTech’ brings to mind cutting-edge computer programmes and niche apps, designed solely for financial traders and analysts. However, chances are, you’re already using multiple examples of FinTech every single day! If you’ve ever shopped online or paid via PayPal or Apple Pay, then you’re already benefitting from these innovations.
A study published earlier this month by Innovate Finance reported that more than $1.8 billion was invested in UK FinTech in 2017 – a huge 153% increase on the previous year. Join the revolution today, and make sure you’re ahead of the curve by reading our simple guide to FinTech in 2018:
What is FinTech?
FinTech is short for Financial Technology
FinTech refers to any technology specifically designed for a financial purpose, from your everyday online banking apps to bespoke investment platforms and digital currencies, for both retail and commercial users.
Who are the market leaders?
Many FinTech products, such as PayPal, are now a well-established part of our everyday financial management. However, more disruptive innovations such as Bitcoin and the blockchain technology that underpins it are also now becoming household names – a great example of how FinTech is changing the game in 2018.
Who should you look out for in 2018?
As investment into UK FinTech continues to climb, a wealth of exciting new ideas are emerging every week! Ones to watch in 2018 include:
TransferWise, an exchange platform marketed as offering ‘the real exchange rate’, which allows users to send money across borders without the ‘hidden bank charges of up to 5%’.
Kuflink, a property-backed peer-to-peer investment platform offering investors up to 9.13% interest pa gross* with opportunities to get started from just £100. Fully authorised by the FCA.
Monzo, a fully licensed online bank with built-in budgeting software that encourages users to meet their savings goals by identifying how much is being spent in different areas, such as travel and dining out.
Squirrel, an online budgeting app which helps you to save by drip-feeding your chosen budget back in to your account throughout the month, making payday splurges a thing of the past!
This year will undoubtedly be the biggest yet for UK FinTech – even the Mayor of London, Sadiq Khan, has pledged to make 2018 the year ‘we take over from Silicon Valley as the world’s leading tech hub’. If you’re keen to be a part of the UK’s meteoric rise to the top, then now is the perfect time to start researching what FinTech could do for you.
Remember, FinTech isn’t just there to help you manage your money – it could also make you money! Sign up to Kuflink’s bespoke, easy-to-use online investment platform today to earn up to 9.13% interest pa gross! *
*Capital is at risk. Rate correct as of 01/03/2018. It is recommended that you seek independent financial advice.
The Landlord Decorating Guide: 7 Useful Tips
If you’re looking to redecorate in order to attract new tenants, you need to find some middle ground. Rented properties ordinarily have a higher level of wear and tear than a private home. This means anything massively luxurious may prove to be a waste of resources.
However, the cheapest alternatives may not be the best way to go, either. You want to attract good tenants who will be comfortable whilst renting from you. This means it’s likely they’ll stay longer, which is good news for any landlord. Here’s a handy guide if you’re looking to redecorate your rental property.
1. Keep it neutral
If you’re redecorating walls, you can’t really go wrong by keeping the colours neutral. It helps to keep a consistent theme throughout the home, and essentially gives your tenants a blank canvas to work with. When you’re painting, it’s better to over-purchase so you’ve got some left over. This way, when the tenants leave, you can touch up any nicks with relative ease.
2. Re-finish old features
If there are built-in units that are past their best, consider re-finishing them. As long as there’s no structural damage, a kitchen units can be sanded and re-finished or painted to look good as new. You can also replace handles to make them look even newer. If you don’t feel comfortable in your DIY skills, find a handyman who’ll do the job for you.
3. Invest in basic appliances
A home with basic appliances included is more likely to be rented. It can be a significant investment, however, so ensure you consider the rent you’ll be receiving and the tenant you want to let to. Going this extra mile can make a huge difference in a potential tenant’s decision on whether to rent the property.
4. Clean the property thoroughly
This factor seems so obvious, but it’s continuously overlooked by many landlords. When people come to view the property, they’ll want to imagine themselves living there. For obvious reasons, this is much easier when the home is spotless. Pay attention to details such as sinks and windowsills, and open all of the windows a couple of hours before a viewing to allow fresh air to circulate.
5. Make it light
A bright and airy home is much more attractive than a dark one. Fit extra light fixtures if necessary, or use lamps to brighten up the place for viewings. Make the most of any natural light by leaving windows as unobscured as possible. This is where the lighter, more neutral colours help in making rooms feel even lighter.
6. Choose durable
Where possible, go for more durable alternatives when redecorating. Rather than painting bathrooms, use tiles to make it more durable. They’re also easier to maintain and are more resistant to mould and infestations than paint. Tiles can be expensive, however, so use paints that’s mould-resistant as a more cost-effective (albeit lesser) alternative.
7. Lay appropriate flooring
When choosing your flooring, try to find a happy medium between comfort and durability; especially in key areas. Areas which see high traffic, such as hallways, living rooms and kitchens, may be better with laminate or wood flooring rather than carpets. Carpets can become dirty very easily and may need replacing due to wear and tear, however wood and laminate is much more durable. Carpets are usually best used in bedrooms, but be aware than lighter colours are more likely to show dirt and need replacing sooner!
If you’re a landlord who’s looking to redecorate, keep your ideal tenant in mind. What would be the deal-breaker in their decision? Decorating to cater for a wide demographic is the best way to go, but a student will have different needs to a family. The subtle details are what will close the deal for you.
This is a guest post, written by Direct Wood Flooring.
Inside the RBS Small Business Scandal
Last week, the Treasury Committee published a controversial report on the Royal Bank of Scotland’s treatment of small business customers during and after the 2008 financial crash.
Although the FCA began their investigations in 2014, they failed to publish their findings by the deadline of 16th February 2018, citing legal reasons – consequently, MPs on the Treasury Committee voted to use their parliamentary privilege to immediately release the full, unredacted report.
The document details how the bank’s Global Restructuring Group (GRG) failed to meet FCA standards and often addressed complaints in a dismissive manner, leading to the systemic mistreatment of SMEs and a widespread failure to act in their customers’ best interests.
The report finds that the overall culture of the company did not adhere to the FCA’s ‘Treating Customers Fairly’ principles, citing a combination of ‘poor management judgement’ and a ‘culture of deal making, with its focus on the financial interests of GRG’ as the source of RBS’s shortcomings.
In addition to these large-scale concerns, numerous offensive and inappropriate incidents are highlighted including an email which contained ‘mimicry’ that was ‘disrespectful of the customers’ nationality’.
Although RBS chiefs were quick to point out that some allegations made against them were proved false by the report, they did release a statement to reassure customers that they had taken the criticism on board; ‘The culture, structure and way RBS operates today have all changed fundamentally since the period under review and we have made significant changes to deal with the issues of the past, including how we treat customers in financial distress’.
Committee Chairwoman, Rt Hon Nicky Morgan MP, commented “The findings in the report are disgraceful. The overarching priority at all levels of GRG was not the health and strength of customers, but the generation of income for RBS, through made-up fees, high interest rates, and the acquisition of equity and property.”
A decade has now passed since the UK financial crash, yet the resulting scandals seem as frequent as ever. Whilst many SMEs have been unable to survive the ten turbulent years since the crash, many of those that did are frustrated by the recurrence of these issues; P2P investment platform Kuflink explained that ‘SMEs such as ourselves work extremely hard to adhere to both FCA regulations and our own company values, so it’s concerning to see that, once again, the actions of big banks like RBS are creating mistrust across the entire finance industry’.
Forbes Name P2P in Top 4 Investments for 2018
“The best part is, you get to earn a pretty decent rate of return – usually upward of 6% or more”
-Forbes
When the first P2P platforms launched over a decade ago, they were widely regarded as a fringe investment. However, with billions now being lent across the world via these platforms, they have unmistakably become a mainstream method of investing. Even some of the most recognisable names in finance are now backing P2P lending, with Forbes calling it an investment ‘you absolutely should make in 2018’. Here are five reasons why so many people are choosing to make their money work harder for them with peer-to-peer investments:
1. P2P Lending is Regulated by the FCA
The UK Peer-to-Peer sector has been regulated by the Financial Conduct Authority since 2014. Whilst the sector is regulated, not all firms have met the required standards to achieve individual approval – however, Kuflink was amongst the first P2P lenders to gain full FCA approval back in 2016! This achievement provides additional protection for investors, ensures firms deal with any issues appropriately and requires platforms to maintain a stable and adequate financial position. In practice, FCA regulation helps to keep your money safer and gives you more confidence in your investment. *
2. Kuflink Co-Invests up to 20% Alongside You in Every Deal
We’re so passionate about our P2P opportunities that we co-invest in every single one of them! Kuflink is the only platform in the UK to co-invest up to 20% in each of our opportunities, which reduces our investors’ risk exposure, as any loss would impact our stake first.
3. Kuflink’s £100 Minimum Investment Makes P2P Accessible
Getting started with peer-to-peer lending couldn’t be easier, and Kuflink welcomes investments from just £100. Your initial investment may be small but with interest rates up to 9.13%, your returns could be significant!* In comparison with other UK P2P platforms, that often set their minimum investment limits as high as £5,000, the Kuflink model is far more accessible and allows a wider range of people to benefit from peer-to-peer investing.
4. Diversifying Your Investment is Easy
Spreading your investment across different opportunities also diversifies your risk; Kuflink’s IF-ISA and Auto-Invest products make diversification hassle-free. To find out more about these opportunities, visit the Kuflink platform today.
5. Choose from a Portfolio of Short-Term Investments
Kuflink offers an ever-changing portfolio of UK property-backed deals, with terms ranging from 3-12 months. Simply browse our available opportunities, select a deal which suits your preferences and start accumulating interest right away!
Find yourself thinking about investing but never quite getting around to making a decision? Don’t get stuck in ‘paralysis by analysis’ – Forbes warns investors that, all too often, ‘you spend so much time analysing your options that you wind up putting it off and never investing at all. And eventually, the extra cash you set aside gets consumed by bills or unexpected expenses’.
Don’t let your cash get swallowed up by day-to-day expenses when you could earn up to 9.13% interest pa gross* – sign up to the Kuflink platform today or get in touch on 01474 33 44 88 to find out how you can make your money work harder for you!
*Capital is at risk. Past performance is not a guide to future returns. Rate correct as of 19/02/18.