CMD Financial Solutions
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CMD Financial Solutions When you retire you still need food and shelter as an absolute minimum, but of course you will want. Often, people save for a specific reason and it's usually the safest way to build up a pot of money. The great joy of financial freedom is having your heart and mind free from worry about life's uncertainties, and our aim is to pave the way for a more secure financial future for you, your family and for businesses of all sizes.

Our understanding of your current financial situation is the keystone to the formulation of a financial plan which will meet your future needs. Many people have goals and dreams, but a goal without a plan is just a wish. So it all starts with listening. We listen to your needs, your hopes, your dreams, and we formulate a plan, which enables us to offer you clear, no-jargon advice on the most appropriate financial products for your personal circumstances.

This is the start of our journey together, to prepare the plan to meet your goals, to ensure that you, your family and your assets are protected, and to help you build a brighter, more secure future.
Highlights

read more › Find out about our professional and experienced team - who they are, how they can help you and how you can contact them. John has worked in the Financial Services sector for over 30 years. He values his clients highly and has looked after a number of his clients over this period. Steve is one of the founder members of C.M.D Financial Solutions Ltd and has worked in financial services for over 30 years having begun his career with large insurance companies. Mark has worked in the Financial Services sector for 27 years.

read more › Are you looking for a friendly and well established firm of mortgage brokers & financial advisors? CMD Financial Solutions Ltd was originally established in 2001 to provide advice the individual and corporate clients across the UK from our offices in Carlisle. Offering clients advice on Residential and Commercial Mortgages, Investment and Pension Planning, Personal Insurance, Home Insurance, Commercial & Business Insurance, you can choose to deal with us on a face to face basis - meeting in our offices, or by visiting you at your place of work or in the comfort of your home - but if you're pressed for time and would rather communicate by phone or email then that's fine too: it's a matter of what best suits you.

read more › We meet together to discuss your personal circumstances and your current financial situation. We'll go into detail so that we can draw up a complete picture of where you are now, and where you want to arrive. We'll ask about you, your occupation, your savings & investments, your mortgage, your current liabilities and your tax position, and we'll explain how all of this information builds a profile which will help us to formulate our financial plan. Next we discuss your objectives and your aspirations, as well as any concerns that may arise.

read more › Wealth, just like your health, must be carefully preserved. Your assets need to be protected against the potential threats of erosion by taxation, the effects of inflation and investment risks. Whatever your level of wealth, there is nothing wrong in making the decision to prepare a risk aversion strategy. Risk aversion is a reasonable and prudent strategy for anyone who is sure that they already have ample to provide for themselves and their family into the future. There are plenty of ways of preserving wealth in real terms, protecting against most of the uncertainties that may threaten it and allowing you to sleep at night, but the unidentified risks are a far greater threat to your wealth than tax.

read more › Equity release is typically available to people who are over the age of 55 and have their own home with a significant amount of equity, but don't have enough money or income for their needs. Where equity release is a suitable solution and you take out a lifetime mortgage or home reversion plan, the money does not usually need to be paid back or the home sold until the last remaining borrower dies or moves into care, although this may not be the case, for example if you make repayments to preserve as much of the inheritable estate as possible.

read more › We all have goals, dreams, ambitions for the future, for ourselves and our families, but how do we achieve them?. Professional Financial Planning is the process which aims to help you realise your ambitions - whatever they may be. As professional financial advisers we can help you make informed decisions about your financial future, short, medium and long term. You will almost certainly have plans of one kind or another - buying a home, starting a family, living abroad, perhaps retiring, but such ambitions have financial implications and you can't leave it all to chance.

read more › This is an area of financial planning that is often overlooked. Traditionally, we have our buildings and contents insurance with our mortgage lenders, which may be uncompetitive in a very competitive marketplace. It may also be the case that a property may be underinsured, due to decoration, extension or the increase in house prices. In addition to home insurance, we can also provide access to cover for accident, sickness and unemployment. General insurance is important for your peace of mind. It enables you to minimise the effects of unexpected and often unwelcome future events, and helps you to organise your personal and business life with greater confidence.

read more › Health Insurance is probably one of the most important types of insurance you can own. Without it, an illness or accident can have serious long-term financial implications for you and your family. Most people will be aware that Health Insurance can cover the cost of private medical treatment for any acute conditions you may suffer in the future - from something as simple as a broken bone to more serious conditions like a heart attack or cancer. Some of these policy types cover the scenario where you are unfortunately unable to work because of illness or injury.

read more › The main purpose of Life Assurance is to provide money for those people who may depend on you financially, in the event that something should happen to you. These people could include family members or business partners. It can provide the reassurance of financial protection for you, your family and your business associates. A Life Assurance policy pays out a sum of money when the person who is covered by the plan dies. The money is intended to pay off any outstanding debts and support your dependants financially by providing them with a further lump sum or a regular income if you die.

read more › Mortgages are loans which are intended to help buyers purchase residential and commercial property. When an individual takes out a loan, the lender charges interest: the same is true of a mortgage. A mortgage is a 'secured' loan, which means that the loan is secured against the value of the property being purchased until the mortgage is paid off. Sources of residential mortgages include high street banks, building societies and other types of less well known financial institutions. Mortgage providers follow a set of rules and procedures when deciding whether or not they will agree to provide a mortgage to purchase a residential property.

read more › When you retire you still need food and shelter as an absolute minimum, but of course you will want to maintain the lifestyle to which you have become accustomed, so unless you can guarantee a large inheritance or windfall, then you need to provide yourself with a secure income for the rest of your life. A well prepared pension plan which is regularly reviewed should go some way to providing you with a reasonable level of income in your retirement. A pension plan requires action as soon as possible, so start now - and if you have already started, take the opportunity to have a closer look at your existing arrangements to make sure you are on track.

read more › Most of us face being taxed on our income, our capital gains, and in some circumstances the value of our estate when we die. Taxation can be very complicated and the rules, reliefs and allowances often change, so it is worth obtaining a clear grasp of how these taxes work by discussing with a professional adviser the most efficient way to arrange your finances. An expert will be able to help you plan your taxes in advance, and come up with effective strategies that will use the lawful reliefs and allowances to minimise the amount you have to pay.

read more › We offer a valuable service to our clients and ensure that we manage their financial affairs regularly, with objective reviews and presentation of conclusions and recommendations to update needs and aspirations accordingly. We discuss all areas with you in plain simple language; we dedicate time to you, to ensure you understand the complexities of your Personal Financial Plan. We are here to listen, to plan and to protect. Enhanced customer satisfaction and retention, ensuring that our good reputation in the marketplace continues to grow.

read more › It should be noted that the information contained in this section relates to English Lasting Power of Attorney and there are differences between the English and Scottish system. There may come a time when, because you are incapable of managing your property and financial affairs or personal welfare, you will need someone to do this for you. You can formally appoint a friend, relative or professional to hold a lasting power of attorney that will allow them to act on your behalf. Lasting power of attorney (LPA) in England and Wales has no legal standing until it is registered with the Office of the Public Guardian.

read more › Everything you leave when you die, less anything you owe, is called your 'estate'. A will sets out what is to happen to your estate. It is a legal document which, although it can be changed after your death, will normally be followed as written. Dying without a will (called dying intestate) can cause unnecessary hardship for your survivors:. Delays would be incurred in trying to find out whether or not you did in fact leave a will, and in tracing your possessions. Delays would occur in the necessary formalities required before your estate can be distributed.

read more › Inheritance Tax (IHT) is a major concern as more and more estates fall within the IHT threshold. Effective tax planning is essential to avoid leaving a substantial tax liability at death, thereby substantially reducing the value of the estate passing on to beneficiaries. Within your financial plan we will assess how we can mitigate your tax liability and maximize what you can pass on. Life is unpredictable, it can be exciting, it can be daunting, but whatever happens, we will work with you to try to help make sure your family's future needs are secured.

read more › Many equity release schemes come with a no-negative equity guarantee, and in some cases there are plans which also enable you to protect a fixed share of the value of your home. For example, if you protected a 30% share in your home, you have a guarantee that a minimum of 30% of your property value is protected for you in later life or as inheritance for your beneficiaries. Some providers will allow you to release more capital from the equity release scheme if you suffer from one of a list of health conditions.

read more › A lifetime mortgage is a form of equity release scheme whereby a loan is secured against your property, providing you with a tax-free cash lump sum or a regular income to spend as you wish. Interest is added to the lifetime mortgage loan throughout your lifetime, accruing at a fixed or variable rate. The loan plus interest is eventually paid back when the home is sold which could be when you move into long term care, or when you and your partner die. Subject to your age you can typically release between 18-50% of the value of your home with a lifetime mortgage.

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