At the early stages of the coronavirus crisis, when lockdown was being hurriedly organised without any sign of an end date, the effect on the property market was already being considered. Huge falls were predicted as the economy went into meltdown.
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We should technically call it a statement rather than a minibudget โ but the Chancellorโs announcement on Wednesday still contained plenty of dramatic measures designed to help the economy on the road to recovery.
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The lockdown measures are starting to be relaxed, and the world seems keen to get back to work. But the aftermath of a 3-month lockdown with the country at an economic standstill could include a financial hangover. How can you ease your own financial headaches? At Continuum we are looking for the answers.
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The Association of British Insurers (ABI) surveyed 2,000 UK adults and estimated that around 1.6 million pension pots together worth a staggering ยฃ19.4bn are currently unclaimed. This is the equivalent of nearly ยฃ13,000 per pension pot โ which would be a sizable boost for anyoneโs retirement plans.
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There have been some important lifelines, from the Bank of Englandโs decision to reduce its Bank Rate to a record low of 0.1% to the Governmentโs decision to support the income of those forced to stay at home. At Continuum we know that there are many measures that you can take to reduce the impact of situations out of your control, including implementing a careful strategy to suit the current climate. Find out what impact the Coronavirus could have on your finances today.
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