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The Free Money Advice Service has been setup by the government to provide impartial advice on most financial matters but is particularly good on Equity Release. 

Equity Release is a minefield but a necessary minefield! Get it right and older people can raise money on their property - potentially allowing them to afford to stay in their homes for the rest of their lives. Get it wrong and they can accumulate an enormous debt and effectively disinherit their children as the finance company claims their home in order to repay the accumulated loan when they die. The link below may help you decide whether this might be a useful route to go down. However just as importantly consider using a financial adviser.
This is a simple AgeUK Equity Release calculator which will help you find out how much an equity release loan would allow you to raise on your house.

Independent Financial Advisers - IFAs Minehead

Lyn Financial Services-Minehead

11 The Avenue, Minehead TA24 5AY, UK – 01643 702700

James & Associates Financial Services Ltd

13 Bancks St, Minehead TA24 5DJ, UK – 01643 706888

Click for excellent Money Saving Expert advice on choosing an Independent Financial Adviser (or IFA) around Minehead.
This is a revolution! We are used to going to a bank with a business plan and been lent money on very high rates of interest - but only under increasingly demanding conditions. Crowd funding is the public investing directly to the businesses - at all stages of their development. Crucially there is a huge range of projects and Crowd Funders. You could do worse than just read and then click some of the WiKi link below.

Crowd Funding and Business Loans

We could not find any Crowd Funding or Business Loans around your location. Please click below to see full results from Google.

Read current articles in MoneyWeek magazine.
HSBC

Wellington Square, Somerset, Minehead TA24 5LH, UK – 0345 740 4404

Last year when I arrived to the UK I tried to open a new bank account. HSBC was the only one where I got help and could open an account. I was sent away from every other bank. I appreciate the kindness of the employers in HSBC.

TSB Bank

19 The Parade, Minehead TA24 5LU, UK – 01643 299998

Very helpful staff.

Santander

6 The Parade, Minehead TA24 5UF, UK – 0845 765 4321

Nice small, but quiet Bank with hardly any queues to make all my requests whilst on holiday. At the counter, i was served by a very helpful and friendly man who dealt with my requests professionally, but at the same time made me feel very welcome, certainly not the usual abrupt, and rude staff in the usual Branches i go to, well done!

Great staff

Banks

HSBC

Wellington Square, Somerset, Minehead TA24 5LH, UK – 0345 740 4404

Last year when I arrived to the UK I tried to open a new bank account. HSBC was the only one where I got help and could open an account. I was sent away from every other bank. I appreciate the kindness of the employers in HSBC.

TSB Bank

19 The Parade, Minehead TA24 5LU, UK – 01643 299998

Very helpful staff.

Santander

6 The Parade, Minehead TA24 5UF, UK – 0845 765 4321

Nice small, but quiet Bank with hardly any queues to make all my requests whilst on holiday. At the counter, i was served by a very helpful and friendly man who dealt with my requests professionally, but at the same time made me feel very welcome, certainly not the usual abrupt, and rude staff in the usual Branches i go to, well done!

Great staff

Building Societies

We could not find any Building Societies around your location. Please click below to see full results from Google.

Mortgage Brokers

Lyn Financial Services-Minehead

11 The Avenue, Minehead TA24 5AY, UK – 01643 702700

Mortgage Brokers - Key Questions

How much do mortgage brokers charge?
Typically, a broker will actually be paid around 0.35% of the mortgage loan as commission from your the lender. So, for every £100,000 borrowed, they would receive £700 in commission - if they are on commission. Many will therefore not charge for their advise if they are. However they maybe tied to specific companies and so may not be able to offer the best deal. Start with your bank. They will know you personally and financially - hopefully! They will tell you about their mortgages and you can use them as a base line to compare products found by mortgage brokers around Minehead.

Is it better to get mortgage from bank or broker?
This question will be answered by this initial mortgage research. You may hit it lucky and find that your bank can give you the best deal - but do check with a mortgage broker first.  

How do I find a good mortgage broker?
Don't write off the financial comparison websites. Moneysupermarket is full of good advise on how to find mortgage brokers and may even be able to point you around Alcombe that they particularly recommend - although will be on commission themselves! Click the link below to go the the right part of Moneysupermarket.

Are mortgage brokers worth it?
Probably yes and we are not on commission! You are free to the these ones a ring - it could really worth it.

Mortgages

HSBC

Wellington Square, Somerset, Minehead TA24 5LH, UK – 0345 740 4404

Last year when I arrived to the UK I tried to open a new bank account. HSBC was the only one where I got help and could open an account. I was sent away from every other bank. I appreciate the kindness of the employers in HSBC.

Lyn Financial Services-Minehead

11 The Avenue, Minehead TA24 5AY, UK – 01643 702700

James & Associates Financial Services Ltd

13 Bancks St, Minehead TA24 5DJ, UK – 01643 706888

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