Broker Conveyancing, the broker-focused conveyancing distributor, has today announced the appointment of two new Account Managers.

Both Joe Hart and Natasha Ellis start with immediate effect and will be working out of the Broker Conveyancing Head Office in Working, supporting individual advisers and firms to help them develop their conveyancing advice activities.

Joe joins Broker Conveyancing after three years working as a paraplanner for Premier Pensions where he was working with a team of advisers, covering tax planning, income and retirement planning for clients.

Natasha joins the business after nearly eight years working in a range of roles within the lettings market. Starting as a negotiator, her most recent job was as a letting manager for Luff Associates; she has also worked for both Chancellors and Waterfalls Sales & Lettings.

Broker Conveyancing said it continued to add further resource to the business in order to meet growing demand for its proposition within both the mortgage advice and estate agency sectors. The two new Account Manager appointments follow the appointment of Area Director for the North, Charlotte Felton, in January.

Mark Snape, Chief Executive Officer at Broker Conveyancing, commented: “At the start of the year, we identified the opportunity to add quality individuals to the Broker Conveyancing team in order to meet the growing demand we have seen for our proposition. We’re therefore very pleased to have brought both Joe and Natasha on board recently, both of whom have a range of experience in both financial services and property, and each come with excellent skills and drive, which I know will be appreciated by all those who use us. Our team continues to grow and develop, and we believe these two new additional Account Managers will provide tangible benefits, support and guidance for all those who deal with them.”

New YouGov polling by StepChange Debt Charity for Debt Awareness Week reveals the dire state of household finances over a year into the cost of living crisis, with people imminently facing higher council tax, less support with energy bills and increased rent or mortgage payments.

The representative survey examines the toll that the cost of living crisis has had on household incomes. Almost one in six UK adults (15%), equivalent to seven and half million people, has £20 or less left over each month after paying for essentials, with one in twelve (8%) people having no disposable income at all. This chimes with StepChange’s own client data which shows one third (33%) of new clients are in a negative budget, meaning that, after a debt advice session and budget counselling, their expenses exceed their income.

The polling also reveals the impact of nine consecutive interest rate rises on mortgage holders and renters alike. Half (50%) of renters and 38% of mortgage holders expect their housing payments to rise within the next 12 months. Of those facing a rise, one in four (26%) expects to be driven into problem debt because of it. Among renters whose rent is rising, four in five (81%) say it’s because their landlord is increasing their rent.

While the Chancellor confirmed in the Spring Budget that the Energy Price Guarantee (EPG) has been extended for another three months, the Energy Bill Support Scheme (EBSS), which has seen households receive a £400 discount on their energy bills is coming to an end on 31 March. More than one in three (37%) people say they will have to borrow to cope, a figure that rises to more than two in three among Universal Credit claimants (67%) and one in two (56%) among renters.

The survey comes as the charity marks its annual Debt Awareness Week, which this year seeks to increase understanding of how debt advice works and how it can help people struggling with their finances. The polling shows that one in six (16%) people do not know debt advice services even exist, and a further one in five (21%) wrongly believe that contacting a debt advice organisation would have a negative impact on their credit score.

StepChange is calling for reform that will have a long-term impact and ultimately protect people from remaining trapped in a spiral of problem debt. The charity has been campaigning for an end to unaffordable deductions from benefits to repay debts, and would like to see the introduction of a social tariff on energy bills to support low income households.

Richard Lane, Director of External Affairs at StepChange Debt Charity, said: “We welcomed the government taking action in last week’s Budget to extend the Energy Price Guarantee for a further three months, however, these figures make clear it’s not just energy bills that are decimating household budgets. Millions of renters and mortgage holders are worried that simply meeting their rising housing payments is going to drive them into unmanageable debt. Inflation has skyrocketed and wages have not. More than a year on from the start of the cost of living crisis, financial resilience is clearly very low – too many people are left with little to nothing each month after covering their basic living costs.

“Government must look at the whole picture and recognise the scale of this issue which is rapidly turning into a debt crisis. Those on low incomes are going to receive extended support with energy bills and childcare, however, they still face punitive deductions from benefits to repay debts. Then there are those households who fall through the gaps, not eligible for government help, but still struggling to cover their living costs. Many people will have built up substantial energy arrears over the past 12 months, which ought to be written off if they cannot afford to pay.

“This week marks Debt Awareness Week, and as this crisis continues to burden household finances, it’s vital that people know free and impartial debt advice exists, and aren’t put off by any misunderstandings around what happens when you seek help with problem debt.”

‘This has been badged as the ‘Budget for Growth’ but for most individuals, this may be seen as the budget of bland ideas. The chancellor simply could not afford to make a mistake in his announcement today. He has put out the fires set by his predecessor in the Autumn Statement, and flashy tax giveaways for individuals were not on the agenda. He has seemingly followed the advice of the opposition benches that ‘boring’ government is the safe pathway to growth.

‘There was little in the Budget that would relieve the tax burden for households. The extension of the energy price guarantee until the end of June, and free childcare measures will be widely welcomed to ease the continued cost of living pressures. Many earners will also see a small increase to their take-home pay from 6 April following the reversal of the 1.25% National Insurance increase and scrapping of the health and social levy. The current average weekly earnings for individuals is £630, and such average earners will be nearly £5 per week better off from 6 April. However, that benefit was announced in the calamitous Mini-Budget last year, and not today by Mr Hunt.

‘The small tax advantage on earnings could well be outweighed through the stealth tax measures previously announced. The Office of Budget Responsibility has forecast that inflation will decrease by the end of the year, but despite this, continued wage inflation could result in many individuals being dragged into higher rates of tax, and the tax burden will continue to be at its highest level since the second world war.

‘The one big idea for individual taxpayers was increasing the amounts that they can save into their pensions. With no lifetime limit as to how much can be saved into pension pots, the big winners may be those looking to limit their inheritance tax (IHT) exposure.

‘There are significant IHT advantages to holding assets within a pension pot, and some pensions can currently be passed onto the next generation free from any tax if the individual dies before the age of 75. The government’s figures estimate that abolishing the pension lifetime allowance limit will cost over £800m annually from the 2026/27 tax year onwards. In time however, this cost to the Exchequer could be substantially higher. We await the detail of the pension measures from the Treasury, but financial planners may be rubbing their hands with glee at the prospect of maximising pension pots to limit a family’s IHT exposure.

‘There are already some who see the existing pension tax rules as too generous, and taxpayers need to be wary that the pension announcements made today could be reversed or restricted by a new government following a general election.

‘So, the Chancellor’s speech was far from a blockbuster, but it remains to be seen whether being boring is brilliant enough to solve the country’s productivity puzzle.’

Chris Etherington, tax partner at leading audit, tax and consulting firm RSM UK

The Money Advice Trust has today welcomed  measures outlined in the Chancellor’s Budget to help households struggling with rising energy costs, including the extending of the Energy Price Guarantee, but has called for more support to help people who are already behind on their energy bills.

Findings from a survey of callers to the charity’s National Debtline service show that a quarter (25 percent) of respondents are already behind on their energy bills, and 62 percent are worried about being able to afford their energy costs.

Joanna Elson CBE, chief executive of the Money Advice Trust, the charity that runs National Debtline and Business Debtline, said: “This Budget gives households some much-needed certainty on energy costs beyond April – and the decision to bring pre-payment energy meter costs in line with direct debits is also welcome, if long overdue.

“The hope of inflation falling so significantly this year will come as a relief to those struggling – but for many households the damage is already done.  Millions who are already behind on their energy and other bills are going to need further support to get through this cost-of-living crisis.

“The government should consider dedicated funding to write off energy debts for people facing unaffordable repayments, and payment matching to help people pay off their debts more quickly – to help the millions worrying about what the months ahead will bring.

“I would encourage anyone worried about their finances to contact National Debtline or Business Debtline.”