M6 Financial Ltd
Start by making a good move to the financial advisors with the winning touch.
The Company’s core philosophy is ‘stress-less financial planning’ and has no allegiance or ties to any particular bank, building society, or insurance company. What’s more, everything is clear-cut and transparent – we’re happy to work on either a fee or commission basis.
M6 Financial is situated in the heart of beautiful Church Stretton in Shropshire, giving Financial Advice to local people living in and around Shrewsbury, Telford, Ludlow, Bridgnorth, Much Wenlock, Craven Arms, Bishops Castle and Minsterley covering all their financial requirements, including mortgages, life assurance, critical illness, PHI, investments, pensions and tax planning.
On a national basis M6 Financial specialises in dealing with large remortgages, offering a personal service to our premier clients with remortgage requirements in excess of £300,000. We are happy to meet you during the day, evening or even at the weekend to discuss your refinance needs – you don’t receive that kind of service from your Bank or Building Society. In addition, we will search the whole mortgage market to ensure that you get the most suitable large remortgage to match your requirements.
Available from September 2010 - The Property Income Plan (exclusive product from Equity IQ Ltd).
The Property Income Plan generates a 5% per annum income without Investment, Loan or Debt.
The Property Income Plan is designed to allow you to raise an income against your property without losing title to the property, incurring interest charges, or diluting your equity. The plan operates over a 3 year term and a charge is taken over your property by the product provider Equity IQ Ltd, assigned to a Special Purpose Vehicle (SPV), and held in a secure account by an independent Escrow Account. The SPV is a company set up purely to facilitate the plan and has no other trading activity. The maximum charge is equal to half the equity in your unencumbered property. Equity IQ then arrange for the value of this equity (but not the title) to be licensed to AA rated Insurance Companies in return for a regular interest payment, payable over the 3 year term. The plan pays a gross income of 5% on the value of the charge (payable monthly in arrears). At the end of the 3 year term the charge on the property is released and the plan ends. Alternatively, (subject to market conditions) Equity IQ will offer you the chance to renew the plan for a further 3 year term.
The Insurance Company uses the value of your equity to enhance their solvency level, inline with the EU directive (Solvency II). Compliance with the directive allows the Insurance Company to write more business, using part of the profits to make the interest payments to the property owner.
Your property is protected through the Property Income Plan by the following ways.
1. Equity IQ Ltd only deals with Insurance Companies who are rated 'AA' by the ratings agency Standard & Poor's.
2. The Independent Escrow Agent will release the charge on your property in the event of default by the Insurance Company or the SPV, via the 'Charge Release Mechanism'.
There are no explicit charges associated with this plan. Equity IQ Ltd pays for a valuation of your property and all administration/ legal charges. The Insurance Company pays to the SPV an additional margin over and above the interest rate you receive, which covers adviser commissions, administrative costs and Equity IQ's profit margin.
The income received by you is paid monthly in arrears, paid gross and is taxable at your marginal rate.
For further information about the Home Income Plan please contact Marcus Harris on 01694 723556 or via the email enquiry request.
Home Income Plan
Investments
Life Assurance and Critical Illness
Permenant Health Insurance (PHI)
Inheritance Tax planning (IHT)
Mortgages
Pensions
Business Advice
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