Agricultural Mortgages

This is a loan used to buy buildings and land for agricultural business purposes.


A pension annuity is a regular payment from an annuity provider, which is designed to give the policyholder an income for life after retirement. It is paid for in a lump sum saved during the policyholder’s working lifetime. Annuity rates are based on the yields of gilt-edged securities at the time of purchase as well as the health and age of the annuitant. Payment from an annuity will cease when the annuitant dies unless the policy includes survivor’s/dependent benefits or guaranteed payment periods.

Bonds [Or Corporate Bonds]

This is a loan that you make to a company for a fixed period, during which time they pay the bond holder a fixed rate of interest, known as a ‘coupon’. At the end of the fixed period you get your original investment (loan) back. During the term of the bond, they can be bought and sold on the market. Their price changes according to how attractive their interest rate is compared to other available rates and the perceived financial strength of the bond issuer.

Buildings And Contents Insurance

Buildings and contents insurance can often be purchased together, providing protection for both the building structure and your belongings and possessions inside.

Business Development Loans

The goal of successful businesses is to increase profits. Usually the best way to achieve this is through expansion. Business development loans are available to help you grow your business whether it is expanding premises or investing in new equipment.

Business Protection

Business protection allows you to safeguard your business against future financial difficulties that may occur due to death or illness, or ownership issues or the loss of important personnel. There are a range of products and services available that will give you that protection.

Business Protection Insurance

Is available in a range of different policies but its aim is in the unfortunate event that one of your business partners or Directors/shareholders dies or contracts a serious illness, you and your remaining partners/directors know that you can continue to run your business with the minimum of disruption.

Buy-to-Let Mortgage

A mortgage that you take out in order to buy a residential property that you intend to rent to tenants for investment purposes. The mortgage is the loan used to purchase the property.

Capital Gains Tax

A capital gain is the difference between what you paid for an investment and what you received when you sold that investment. The most common capital gains are realised from the sale of stocks, bonds, precious metals and property. This profit can be liable to Capital Gains Tax.

Commercial Mortgages

This is a loan used to buy buildings and land for business purposes.


Conveyancing is the legal process involved in the transfer - buying and selling – of a property.

Corporate Investment Services

These are services that specialise in helping both companies and institutions to optimise their portfolios for the companies objectives.


Critical illness cover is an insurance product, where the insurer is contracted to pay out a lump sum cash payment if the policyholder is diagnosed with one of the critical illnesses listed in the insurance policy.

Employee Benefits

These are benefits that are offered to a company’s employees in addition to their normal pay. It encompasses company cars, loans at low rates of interest and the possibility of buying shares; pensions and private health insurance etc.


Equity is the difference between the current value of your home minus the unpaid mortgage. Negative equity comes about if the property is worth less than the outstanding mortgage.

Equity Release

Equity release is a means of using the value of an owner occupied property to allow the owner to receive either a lump sum or regular monthly income by using the unencumbered value accumulated in the property. There are two types of equity release: a mortgage plan or a home reversion plan. In both instances, age is the primary factor in determining the percentage of the value that can be released.

Executive Pension Planning

EPP’s are designed to meet the pension needs of senior employees and directors who often have different requirements to those of other employees. Essentially the employer provides tax-deductible contributions to enhance the executive’s pension. (Such pension plans can be written on an inpidual basis with only one member if necessary).

Exit Strategy Planning

Most people who set up businesses don’t think about how their involvement will end. You should - and it is essential to have an exit strategy mapped out. Whether an exit is planned or forced on you, you need to be in a position to maximise the value you get from the business, successfully market your business to potential buyers or investors, and ensure you leave with the minimum of disruption to the business.

Fixed Rate

An interest rate on a loan that is fixed at the time when the loan is taken out and does not change for a specified period of time. After which the interest rate will return to the lenders standard variable rate.

General Insurance

General insurance is non-life insurance and tends to be taken out for vehicle or household policies, and typically against specific contingencies such as fire, theft and accident.


Bonds (see above) are commonly known as gilts when they are issued by the UK government. When you or a fund manager invests in a gilt, this is effectively a loan to the government. In return the government pays a fixed rate of interest based on the "nominal value" of the gilt. Gilts are normally regarded as relatively low risk investments. This is because there is almost no risk of the UK government being unable to repay its debts. Some gilts can be open ended, with no fixed redemption date, an example would be ‘war bonds’.

Group Pensions

This is a personal pension provided through an employer. Each member builds up their own personal pension, with your employer usually collecting your contribution from your salary and passing it on to the pension company. Although provided through an employer, this is not legally speaking an occupational pension. The benefits of such a scheme can be lower charges - and the employer may well make a contribution.

Home Reversion Plans

A home reversion plan allows you to release a percentage of the value of your home. You sell part of your home to a third party, normally a reversion company or inpidual. In return, you receive a regular income or cash lump sum (or both) and continue to live in your home for as long as you wish.

Income Drawdown Or Usp (Aka Unsecured Pension)

This is an option currently available to holders of personal pension arrangements. It is a method that provides an income from the proceeds of a personal pension plan without having to buy an annuity until the age of 75. So, at retirement, you can choose to transfer your money into a drawdown plan and take an annual income from this fund. Please note unsecured pensions are not always suitable for everyone. You should seek expert advice before entering into this type of contract.

Income Protection

Income protection cover pays out a regular monthly amount in the case of you being unable to work due to illness or injury and suffer a loss of earnings as a result. Please note the definition of inability to do work will be defined within the policy itself and can vary between differing professions and policies.

Inheritance Tax Planning

The assessment and review of the value and structure of your estate in order to help mitigate liability to inheritance tax and optimise the passing of wealth to your heirs and beneficiaries.


The purchase of a financial product or other item of value – such as shares, bonds, property and commodities - with an expectation of earning an income or making favourable future capital returns. The value of investments can fall as well as rise, and you could get less than you invested.


An ISA (Inpidual Savings Account) is designed to enable an inpidual to save without paying income tax on their savings/investments. This can be either a cash ISA or a stocks and shares ISA.

Life Assurance

This form of cover provides peace of mind that your dependents will be financially provided for should you pass away. Options include a capital sum to pay off your mortgage and any other debts, a rainy day fund in case of emergencies and a regular income for your dependents. There are two main types of life cover: Decreasing, which reduces in line with your outstanding mortgage capital. Level, where the benefit remains the same throughout. This provides a lump sum that could be used to clear your debts (which can include your mortgage), a rainy day fund and an income for your dependents.

Lifetime Mortgage

With a lifetime mortgage, you take out a loan secured on your home. There are different types and costs. Examples are:

A roll-up mortgage (rolled up means interest is added to the loan – for example, each year). You get a lump sum or regular income and are charged a monthly or yearly interest which is added to the loan. The amount you originally borrowed, including the rolled-up interest, is repaid when your home is eventually sold.

A fixed repayment lifetime mortgage. You get a lump sum, but don't have to pay any interest. Instead, when the home is sold, you have to pay the lender a higher amount than you borrowed. That amount is agreed in advance. The lender uses this higher sum to repay the mortgage when your home is sold.

An interest-only mortgage. You get a lump sum, and pay a monthly interest on the loan, which can be fixed or variable. The amount you originally borrowed is repaid when your home is eventually sold. 

A home income plan. The money you borrow is used to buy a regular fixed income for life (an annuity). This income is used to pay the interest on the mortgage and the rest is yours. The amount you originally borrowed is repaid when your home is eventually sold. 

Some lifetime mortgages include a shared appreciation element. This means the lender has a share in the value of your home. When taking out a lifetime mortgage, you can choose to borrow a lump sum or to opt for a drawdown facility. This is suitable if you want to take occasional small amounts rather than one big loan, as it means you only pay interest on the money you actually need.

Long-Term Care Insurance

Insurance that is purchased to help provide for the cost of long-term care, due to old age or infirmity. This would typically cover costs such as a nursing home care, domestic help and physical aids.

Multi-Manager And Fund Of Funds

Multi-Manager funds aim, with the help of their managers, to cherry pick the best funds on the market to invest in, and gain the best return. There are two sorts of fund - the ‘Manager of Managers’ (MoM) and the ‘Fund of Funds’ (FoF). MoM fund managers select a number of other managers and ask them each to invest a portion of the fund’s wealth. In a FoF the fund manager will buy units in other funds. These funds generally have higher costs due to the additional layer of charges they attract.


An Open-Ended Investment Company (OEIC) is a type of collective investment scheme; hybrid investment funds that have some of the features of an investment trust and some of a unit trust. Like investment trusts, OEICs issue shares and use the money raised from shareholders to invest in other companies. They differ from investment trusts in that they are open-ended, which means that when demand for the shares rises the manager just issues more shares.

Personal Pensions (PPP)

A personal pension is an investment that receives preferential tax treatment to encourage people to save for their retirement. The purpose of a personal pension is to build up a fund that can later be used either to provide an income or a reduced income together with a tax-free cash lump sum. The amount of tax-free cash that can be taken is restricted, under current rules the tax-free cash cannot exceed 25% of the accumulated fund.

Portfolio Planning

Is the process of reviewing and arranging investments in a way that suits the particular investment profile and objectives of the inpidual investor.

Post-Retirement Planning

Once you have retired your Positive Solutions IFA Partner can discuss all the options available and plan for a secure retirement.

Pre-Retirement Planning

The process of reviewing and arranging your investments in a way that best suits your future retirement needs.

Private Medical Insurance

In the event of injury or illness, this insurance gives you access to private medical care. This type of insurance will not normally cover injuries or illnesses present prior to accepting a policy.


A remortgage is the process of paying off one mortgage with the proceeds from a new mortgage, using the same property as security.

Right to Buy

The right to buy scheme is a policy which gives tenants of council housing the right to buy the home they are living in. Five years' tenancy is now required for new tenants to qualify.

Risk Mitigation

Risk mitigation is the systematic reduction in the amount of exposure a company has to risk – or the likelihood of it occurring. Is sometimes referred to as risk reduction. Assessment will show if a company has unacceptably high levels of risk and action will need to be taken to counter them.


The distinction between investments and savings isn’t clear cut. Generally speaking, ‘savings’ refer to the use of regular contributions, payments or the use of surplus income to help achieve a future capital need. You can do this in a number of ways, the most obvious being bank accounts.

Secured Loans

A secured loan is one where the borrower agrees to provide the lender with some form of security as collateral for the loan. Most commonly, the security will be your residential property, regardless of whether you currently have a mortgage or own it outright.

Shared Ownership

Shared ownership is a way for a person to buy a stake in a property if they cannot afford to buy it outright. It allows that person to purchase a share in their home even if they cannot afford a mortgage on the whole of the current value.

Shareholder/Partnership Protection

This form of protection covers the loss of a shareholder through illness or death. Shareholder protection will give a business stability and continuity if that potentially difficult situation arises. It is particularly vital for private limited companies where there may only be a small number of principal shareholders.


A Self-Invested Personal Pension (SIPP) is a type of personal pension plan. It’s a UK government-approved scheme, which allows inpiduals to make their own investment decisions from the full range of Her Majesties Revenue & Customs (HMRC) approved investments. Charges on SIPPs are generally higher than those on personal pensions.


A Small Self-Administered Scheme (SSAS) is a type of occupational pension scheme. Schemes are trust-based and established inpidually for specified employees of the company. It provides a tax-efficient environment in which a company’s profits can be invested to provide significant retirement benefits for directors. As the fund grows it can work for the company and still generally be free from creditors should the business fail.

Stakeholder Pensions

Stakeholder pension schemes were introduced in the UK on the 6th April in 2001 to encourage more long term saving for retirement, particularly among those on low to moderate earnings. They are required to meet a number of conditions set out in legislation, including a cap on charges, low minimum contributions, and flexibility in relation to stopping and starting contributions. They are designed to be straightforward, flexible, and inexpensive.

Standard Variable Rate

A rate set by a lender which usually applies when an initial product comes to an end. The rate can go up and down.

Strategic Director Planning

The objective of a strategic director plan is to develop a much more targeted vision of where directors want to take a business in the future. A plan can establish the strategies, goals and objectives that will enable directors to take a company forward. It focuses on the company’s current situation, analysing strengths and weaknesses so that strengths can be built on and weaknesses avoided.

Structured Products

Structured products seek to protect capital growth and/or income and were created to meet specific needs that could not be met from standardised financial instruments available in the markets. A structured product is usually a pre-packaged investment strategy based on derivatives (sophisticated financial instruments). The level of capital guarantees and qualifying conditions can vary between products and providers. Capital guarantees rely on the financial strength of the provider and any counterparties and their ability to fulfill their commitments. The failure or default of the provider or any counterparty may result in loss of some or all of the original capital and/or income.

Tracker Rate

Tracker rates are usually linked to the underlying Bank of England base rate.

Unit Trusts

An investment fund shared by a large number of different investors who pool their money. The fund is pided into segments called ‘units’. Investors take a stake in the fund by buying these units, the price of which will vary as the value of the investments the trust has invested in increase or decrease.

Whole of Life

This is a policy that provides a payment on death, regardless when death does occur. This is dependent upon the necessary premiums being maintained throughout the life of the plan.

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