Our contractor clients have often struggled to secure suitable mortgages, pensions and insurance products because of their unique working status. With this in mind we have teamed up with contractor specialists, Contractor Financials, to offer you ICS Money.
Contractor Financials have helped more than 22,000 contractors to secure a mortgage, pension or to protect their loved ones since 1999. Alongside the team of specialists at Contractor Financials, ICS's contractor accountants are able to help you make the most of your money whilst getting some fantastic deals on a range of financial products which can typically be difficult to obtain when freelancing or working as a contractor.
If you are a contractor you will not have the luxury of being enrolled in to a work place pension. So if you want to enjoy your later years it is important that you think about your pension to ensure you save up enough money to last you through retirement.
It is not a requirement by law to enrol in to a pension scheme but have you thought about how you will support yourself when you are no longer taking on contracts? It is also worth noting that pensions offer substantial tax breaks, which over the years can save you a lot of money.
However, financially planning your retirement can be difficult and it may be worth considering guidance from a contractor specific financial adviser. They are able to put a structure in place that suits you, and keep on top of it in case anything in the market changes.
If you would like more information please click here.
Many clients have told us about the difficulties they have had when approaching a bank or lender direct for mortgage funding. This is frequently down to a misunderstanding on the lenders part surrounding a contractor’s earnings, and can often lead to contractors being perceived as a higher risk than a permanent employee.
Contractor Financials have overcome this problem by agreeing bespoke underwriting with many High Street lenders that allow contractors to borrow based on their full contract earnings. This enables contractors to access the same competitive products that are available to permanent employees.
Please click here to find out more or call our partners direct on 03450 628888.
Everyone will experience illness at some point in their lives. Many of us will only suffer from something minor, but some individuals are not as fortunate. No one knows what lies around the corner, which is why preparation is so important, more so for contractors.
How would you pay your monthly bills and mortgage repayments, if you were unable to go in to work? How would you financially support your family while you recovered from your serious illness?
Critical Illness Cover is a type of insurance which can help lift your financial burden when you are unable to work. It is designed to pay your mortgage, debts and medical expenses should you not have sufficient savings to cover these payments when you are signed off.
Income Protection Insurance is designed to cover your outgoings if you were unable to work due to illness. Unlike critical illness cover, income protection does not have a list of claimable illnesses. If you are declared unfit to work by a doctor, you will be able to claim on this insurance.
Life Cover is put in place to ensure your dependants are financially stable if you were to pass away. There are two types of life insurance, ‘Term Cover’ and ‘Whole of Life Cover’. Term cover will pay out a lump sum or monthly income if you die within a set period of time. Whole of Life cover offers protection for your lifetime.
As a contractor it is important that you put the right measures in place to ensure that if the unfortunate does happen, you are fully protected. If you would like more information please click here.
Independent Contractor Solutions Ltd are not authorised to offer regulated mortgage, protection or pension advice. Independent Contractor Solutions are introducers to Contractor Financials Ltd.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Mortgage and protection advice is given by Contractor Financials, which is a trading name of Contractor Financials Ltd. Authorised and regulated by the Financial Conduct Authority (FCA reg. 207478). Registered in England No. 04283788 Registered Office: 5 Omega Park, Alton, Hampshire, England, GU34 2QE. Not all products are regulated by the FCA e.g. some buy to let mortgages.
Please note, expressions made do not constitute advice and it is the responsibility of the reader to seek advice for their independent requirements. All information correct at time of publication.
The value of investments may fall as well as rise and past performance is not a guide to future returns. Financial advice is given by Contractor Wealth Management Limited which is an appointed representative of Intrinsic Mortgage Planning Limited and of Intrinsic Financial Planning Limited who are authorised and regulated by the Financial Conduct Authority. Intrinsic Financial Planning Limited and Intrinsic Mortgage Planning Limited are entered on the FCA Register (http://www.fca.org.uk/register) under reference 440703 and 440718.