{"id":34,"date":"2022-08-20T05:17:55","date_gmt":"2022-08-20T05:17:55","guid":{"rendered":"https:\/\/www.victoriafinancialsolutions.co.uk\/?page_id=34"},"modified":"2022-09-05T18:28:18","modified_gmt":"2022-09-05T18:28:18","slug":"faqs","status":"publish","type":"page","link":"https:\/\/www.victoriafinancialsolutions.co.uk\/?page_id=34","title":{"rendered":"FAQ&#8217;s"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"34\" class=\"elementor elementor-34\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4b72dae9 elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle tf-sticky-section tf-sticky-no\" data-id=\"4b72dae9\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;tf_sticky&quot;:&quot;no&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3b663bf8\" data-id=\"3b663bf8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-668d6196 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"668d6196\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.7.1 - 14-08-2022 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">FAQ<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-599bcc0c elementor-section-boxed elementor-section-height-default elementor-section-height-default tf-sticky-section tf-sticky-no\" data-id=\"599bcc0c\" data-element_type=\"section\" data-settings=\"{&quot;tf_sticky&quot;:&quot;no&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-28494c35\" data-id=\"28494c35\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1b2d3355 elementor-section-boxed elementor-section-height-default elementor-section-height-default tf-sticky-section tf-sticky-no\" data-id=\"1b2d3355\" data-element_type=\"section\" data-settings=\"{&quot;tf_sticky&quot;:&quot;no&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2dc0dc7c\" data-id=\"2dc0dc7c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-123ad1be elementor-widget__width-auto elementor-widget-divider--view-line elementor-invisible elementor-widget elementor-widget-divider\" data-id=\"123ad1be\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInLeft&quot;}\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.7.1 - 14-08-2022 *\/\n.elementor-widget-divider{--divider-border-style:none;--divider-border-width:1px;--divider-color:#2c2c2c;--divider-icon-size:20px;--divider-element-spacing:10px;--divider-pattern-height:24px;--divider-pattern-size:20px;--divider-pattern-url:none;--divider-pattern-repeat:repeat-x}.elementor-widget-divider .elementor-divider{display:-webkit-box;display:-ms-flexbox;display:flex}.elementor-widget-divider .elementor-divider__text{font-size:15px;line-height:1;max-width:95%}.elementor-widget-divider .elementor-divider__element{margin:0 var(--divider-element-spacing);-ms-flex-negative:0;flex-shrink:0}.elementor-widget-divider .elementor-icon{font-size:var(--divider-icon-size)}.elementor-widget-divider .elementor-divider-separator{display:-webkit-box;display:-ms-flexbox;display:flex;margin:0;direction:ltr}.elementor-widget-divider--view-line_icon .elementor-divider-separator,.elementor-widget-divider--view-line_text .elementor-divider-separator{-webkit-box-align:center;-ms-flex-align:center;align-items:center}.elementor-widget-divider--view-line_icon .elementor-divider-separator:after,.elementor-widget-divider--view-line_icon .elementor-divider-separator:before,.elementor-widget-divider--view-line_text .elementor-divider-separator:after,.elementor-widget-divider--view-line_text .elementor-divider-separator:before{display:block;content:\"\";border-bottom:0;-webkit-box-flex:1;-ms-flex-positive:1;flex-grow:1;border-top:var(--divider-border-width) var(--divider-border-style) 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.elementor-divider-separator{border-top:var(--divider-border-width) var(--divider-border-style) var(--divider-color)}.elementor-widget-divider--separator-type-pattern{--divider-border-style:none}.elementor-widget-divider--separator-type-pattern.elementor-widget-divider--view-line .elementor-divider-separator,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:after,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:before,.elementor-widget-divider--separator-type-pattern:not([class*=elementor-widget-divider--view]) .elementor-divider-separator{width:100%;min-height:var(--divider-pattern-height);-webkit-mask-size:var(--divider-pattern-size) 100%;mask-size:var(--divider-pattern-size) 100%;-webkit-mask-repeat:var(--divider-pattern-repeat);mask-repeat:var(--divider-pattern-repeat);background-color:var(--divider-color);-webkit-mask-image:var(--divider-pattern-url);mask-image:var(--divider-pattern-url)}.elementor-widget-divider--no-spacing{--divider-pattern-size:auto}.elementor-widget-divider--bg-round{--divider-pattern-repeat:round}.rtl .elementor-widget-divider .elementor-divider__text{direction:rtl}.e-container>.elementor-widget-divider{width:var(--container-widget-width,100%);-webkit-box-flex:1;-ms-flex-positive:1;flex-grow:1}<\/style>\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7184cf82 elementor-widget__width-auto elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"7184cf82\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInDown&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">FAQ<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5c9ed2ef elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"5c9ed2ef\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Mortgages:\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-4d6ab807\" data-id=\"4d6ab807\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-2bb17659 elementor-widget elementor-widget-elementskit-accordion\" data-id=\"2bb17659\" data-element_type=\"widget\" data-widget_type=\"elementskit-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"ekit-wid-con\" >\n\n        <div class=\"elementskit-accordion accoedion-primary\" id=\"accordion-69e3168243dd4\">\n\n            \n                <div class=\"elementskit-card\">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-0-2bb17659\">\n                        <a href=\"#collapse-9808e4e69e3168243dd4\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-9808e4e69e3168243dd4\" aria-expanded=\"false\" aria-controls=\"Collapse-9808e4e69e3168243dd4\">\n                            \n                            <span class=\"ekit-accordion-title\"> HOW MUCH CAN BORROW?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-open icon-right fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-closed icon-right fas fa-minus\"><\/i>                                    <\/div>\n\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-9808e4e69e3168243dd4\" class=\" collapse\" aria-labelledby=\"primaryHeading-0-2bb17659\" data-parent=\"#accordion-69e3168243dd4\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>The answer to this question will vary from lender-to-lender dependent on the business model.<\/p><p>Most lenders will use an algorithm particular to that lender and will take such data as; Total income available, credit record, credit cards and loans, number of children and the cost of running the house. Then that will produce a mortgage figure they are prepared to lend.<\/p>                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card\">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-1-2bb17659\">\n                        <a href=\"#collapse-9c6fbd669e3168243dd4\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-9c6fbd669e3168243dd4\" aria-expanded=\"true\" aria-controls=\"Collapse-9c6fbd669e3168243dd4\">\n                            \n                            <span class=\"ekit-accordion-title\">I HAVE A GOOD CREDIT FILE BUT A LOW CREDIT SCORE. WILL THAT PREVENT ME HAVING A MORTGAGE?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-open icon-right fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-closed icon-right fas fa-minus\"><\/i>                                    <\/div>\n\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-9c6fbd669e3168243dd4\" class=\" show collapse\" aria-labelledby=\"primaryHeading-1-2bb17659\" data-parent=\"#accordion-69e3168243dd4\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>Not necessarily. There are lenders who, provided there are no credit issues, will ignore a low credit score.\u00a0 Bare in mind that the products available will not be as competitive as someone with a good credit score.<\/p>                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card\">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-2-2bb17659\">\n                        <a href=\"#collapse-ee84cd969e3168243dd4\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-ee84cd969e3168243dd4\" aria-expanded=\"false\" aria-controls=\"Collapse-ee84cd969e3168243dd4\">\n                            \n                            <span class=\"ekit-accordion-title\"> HOW DO I IMPROVE MY CREDIT SCORE?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-open icon-right fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-closed icon-right fas fa-minus\"><\/i>                                    <\/div>\n\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-ee84cd969e3168243dd4\" class=\" collapse\" aria-labelledby=\"primaryHeading-2-2bb17659\" data-parent=\"#accordion-69e3168243dd4\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>There a various reasons that a low credit has been allocated. E.g. Not on voters roll, no credit card or existing credit. i.e. no track record.<\/p><p>Your mortgage advisor should be able to advise how to improve your score.<\/p>                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card\">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-3-2bb17659\">\n                        <a href=\"#collapse-919b05c69e3168243dd4\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-919b05c69e3168243dd4\" aria-expanded=\"false\" aria-controls=\"Collapse-919b05c69e3168243dd4\">\n                            \n                            <span class=\"ekit-accordion-title\"> BUY TO LET. HOW MUCH CAN I BORROW?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-open icon-right fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-closed icon-right fas fa-minus\"><\/i>                                    <\/div>\n\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-919b05c69e3168243dd4\" class=\" collapse\" aria-labelledby=\"primaryHeading-3-2bb17659\" data-parent=\"#accordion-69e3168243dd4\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>The average Loan to Value is 75% of the purchase price. The actual loan amount is determined by the potential rental income for that property not how much you earn separately. This potential rental income is recorded by the surveyor\/valuer when they carry out an inspection.<\/p>                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                        <\/div>\n    <\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e210f9e elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"e210f9e\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Life Assurance:\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cace18c elementor-widget elementor-widget-elementskit-accordion\" data-id=\"cace18c\" data-element_type=\"widget\" data-widget_type=\"elementskit-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"ekit-wid-con\" >\n\n        <div class=\"elementskit-accordion accoedion-primary\" id=\"accordion-69e3168248f7c\">\n\n            \n                <div class=\"elementskit-card\">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-0-cace18c\">\n                        <a href=\"#collapse-9808e4e69e3168248f7c\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-9808e4e69e3168248f7c\" aria-expanded=\"false\" aria-controls=\"Collapse-9808e4e69e3168248f7c\">\n                            \n                            <span class=\"ekit-accordion-title\"> DO I HAVE TO TAKE OUT LIFE INSURANCE FOR ME TO OBTAIN A MORTGAGE?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-open icon-right fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-closed icon-right fas fa-minus\"><\/i>                                    <\/div>\n\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-9808e4e69e3168248f7c\" class=\" collapse\" aria-labelledby=\"primaryHeading-0-cace18c\" data-parent=\"#accordion-69e3168248f7c\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>No, you do not.<\/p><p>It is strongly recommended that you do have life insurance especially if there is family living in the house. Should you die and the mortgage is not paid off, there may be issues with the current lender allowing the survivor to continue living in the house if the house is in joint name and both salaries have been used in the calculation for the size of mortgage.<\/p><p>Having a life assurance in place makes the whole situation so much less complicated.<\/p>                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card\">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-1-cace18c\">\n                        <a href=\"#collapse-9c6fbd669e3168248f7c\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-9c6fbd669e3168248f7c\" aria-expanded=\"true\" aria-controls=\"Collapse-9c6fbd669e3168248f7c\">\n                            \n                            <span class=\"ekit-accordion-title\"> WHICH IS THE BEST LIFE ASSURANCE FOR ME?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-open icon-right fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-closed icon-right fas fa-minus\"><\/i>                                    <\/div>\n\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-9c6fbd669e3168248f7c\" class=\" show collapse\" aria-labelledby=\"primaryHeading-1-cace18c\" data-parent=\"#accordion-69e3168248f7c\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>This is a question that can only be answered after a detailed discussion with your advisor.<\/p>                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card\">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-2-cace18c\">\n                        <a href=\"#collapse-ee84cd969e3168248f7c\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-ee84cd969e3168248f7c\" aria-expanded=\"false\" aria-controls=\"Collapse-ee84cd969e3168248f7c\">\n                            \n                            <span class=\"ekit-accordion-title\"> IS THERE ANY TAX RELIEF ON THE PREMIUMS FOR LIFE ASSURANCE?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-open icon-right fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-closed icon-right fas fa-minus\"><\/i>                                    <\/div>\n\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-ee84cd969e3168248f7c\" class=\" collapse\" aria-labelledby=\"primaryHeading-2-cace18c\" data-parent=\"#accordion-69e3168248f7c\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>No there is not on any new policies. Many yrs ago life policy premiums did attract tax relief. Any that are still in force will continue to do so.<\/p><p>There is a category of life assurance available to Ltd Company employees called \u2018Relevant Life Assurance\u2019. The premium is paid for by the company on behalf of the employee net of any National insurance or P.A.Y.E. This has the effect of reducing the cost of the premium to the employee by up to 40% depending on which tax bracket applies to that employee.<\/p>                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card\">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-3-cace18c\">\n                        <a href=\"#collapse-919b05c69e3168248f7c\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-919b05c69e3168248f7c\" aria-expanded=\"false\" aria-controls=\"Collapse-919b05c69e3168248f7c\">\n                            \n                            <span class=\"ekit-accordion-title\"> CAN I USE LIFE ASSURANCE TO PAY A POTENTIAL TAX BILL?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-open icon-right fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-closed icon-right fas fa-minus\"><\/i>                                    <\/div>\n\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-919b05c69e3168248f7c\" class=\" collapse\" aria-labelledby=\"primaryHeading-3-cace18c\" data-parent=\"#accordion-69e3168248f7c\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>Life Assurance can be used to provide enough cash for the family to pay inheritance tax.<\/p><p>Inheritance tax is only due on 2nd death for married couples. Life assurance can be set up to pay out on second death. Other steps can be taken to help mitigate\/reduce any tax liability. (See next section). For single people any Inheritance tax is calculated on death. An insurance policy can be set up to assist with the potential liability.<\/p><p>Obviously, the potential estate size needs to be reviewed regularly to ensure there's enough life assurance in place to cover an inheritance tax bill.<\/p>                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                        <\/div>\n    <\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a175fb8 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"a175fb8\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Wills\/Trusts:\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f576af2 elementor-widget elementor-widget-elementskit-accordion\" data-id=\"f576af2\" data-element_type=\"widget\" data-widget_type=\"elementskit-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"ekit-wid-con\" >\n\n        <div class=\"elementskit-accordion accoedion-primary\" id=\"accordion-69e316824d609\">\n\n            \n                <div class=\"elementskit-card\">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-0-f576af2\">\n                        <a href=\"#collapse-9808e4e69e316824d609\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-9808e4e69e316824d609\" aria-expanded=\"false\" aria-controls=\"Collapse-9808e4e69e316824d609\">\n                            \n                            <span class=\"ekit-accordion-title\"> WHY DO I NEED A WILL I&#039;VE GOT NOTHING TO LEAVE?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-open icon-right fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-closed icon-right fas fa-minus\"><\/i>                                    <\/div>\n\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-9808e4e69e316824d609\" class=\" collapse\" aria-labelledby=\"primaryHeading-0-f576af2\" data-parent=\"#accordion-69e316824d609\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>Unfortunately, it is a modern day situation for society to have a large number of single parents. If asked the question \u2018who\u2019s going to look after the children should you die?\u2019 Most would respond \u2018My mother\u2019 or \u2018My sister\u2019 which fine provided the mother or sister is aware that is what you expect. Which is fine if you have made a will stating that is what you want to happen. Otherwise, there could be all kinds of upset within the family as to who will take responsibility. Without a will the children will be taken into care. There\u2019s no guarantee they will be together. How long will it take for social services to carry out all the due diligence to establish who, in the family, is most suitable to look after the children?<\/p><p>A \u2018simple will\u2019 just to address Guardianship of your children would save so much emotional turmoil for family and children.<\/p>                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card\">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-1-f576af2\">\n                        <a href=\"#collapse-9c6fbd669e316824d609\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-9c6fbd669e316824d609\" aria-expanded=\"true\" aria-controls=\"Collapse-9c6fbd669e316824d609\">\n                            \n                            <span class=\"ekit-accordion-title\"> WHEN WOULD I USE A TRUST?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-open icon-right fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n                                        <i aria-hidden=\"true\" class=\"icon-closed icon-right fas fa-minus\"><\/i>                                    <\/div>\n\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-9c6fbd669e316824d609\" class=\" show collapse\" aria-labelledby=\"primaryHeading-1-f576af2\" data-parent=\"#accordion-69e316824d609\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>A trust is a \u2018wrapper of ownership\u2019. Generally speaking the family\u2019s largest asset is the house. Putting a house into trust effectively changes ownership of that house form personal to the Trust. If the house is worth \u00a31 million .\u00a0 That\u2019s\u00a0 \u00a31 million less for HMRC to use in the inheritance tax calculation. I.e. Up to \u00a3400,000 reduction in Inheritance Tax.<\/p><p>Trusts can also be set up to children grandchildren to ensure inheritance or gifts are \u2018kept safe\u2019.<\/p>                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                        <\/div>\n    <\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>FAQ FAQ Mortgages: HOW MUCH CAN BORROW? The answer to this question will vary from lender-to-lender dependent on the business model. Most lenders will use an algorithm particular to that lender and will take such data as; Total income available, credit record, credit cards and loans, number of children and the cost of running the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-34","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.victoriafinancialsolutions.co.uk\/index.php?rest_route=\/wp\/v2\/pages\/34","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.victoriafinancialsolutions.co.uk\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.victoriafinancialsolutions.co.uk\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.victoriafinancialsolutions.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.victoriafinancialsolutions.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34"}],"version-history":[{"count":19,"href":"https:\/\/www.victoriafinancialsolutions.co.uk\/index.php?rest_route=\/wp\/v2\/pages\/34\/revisions"}],"predecessor-version":[{"id":449,"href":"https:\/\/www.victoriafinancialsolutions.co.uk\/index.php?rest_route=\/wp\/v2\/pages\/34\/revisions\/449"}],"wp:attachment":[{"href":"https:\/\/www.victoriafinancialsolutions.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}