Question 1

What services do you offer?

Accepted Answer

I offer whole of market independent financial advice across four main areas: mortgages (including first-time buyers, remortgaging, and buy-to-let), protection insurance (life insurance, critical illness, and income protection), pensions (workplace pensions, SIPPs, and retirement planning), and investments (ISAs, investment portfolios, and wealth management).

Question 2

Are you qualified and regulated?

Accepted Answer

Yes, I'm fully FCA regulated and authorised. Michael Hawkins is an adviser with Julian Harris Adviser Network Limited, authorised and regulated by the Financial Conduct Authority. FCA No. 304155. Registered office: Julian Harris House, Musgrove, Ashford, Kent. TN23 7UN. I hold professional qualifications including the Diploma for Financial Advisers (DipFA), Certificate in Mortgage Advice and Practice (CeMAP), Certificate in Regulated Equity Release (CeRER), and Certificate in Long-term Care Insurance (CeLTCI).

Question 3

Where do you provide services?

Accepted Answer

I'm based in Yeovil, Somerset, and work with clients across Somerset, Dorset, and Devon. Appointments are by phone and video, with onboarding, documents, and messaging handled through your personal client hub.

Question 4

Do you provide services in specific towns?

Accepted Answer

Yes, I regularly work with clients in Yeovil, Taunton, Chard, Crewkerne, Ilminster, Dorchester, Sherborne, Bridport, Weymouth, Bournemouth, Poole, Exeter, Honiton, Sidmouth, and Axminster. If you're in a surrounding area, just get in touch and I'll be happy to help.

Question 5

What is the client hub and practice engine?

Accepted Answer

I got tired of the old way of doing business, so I put years of experience into a system that makes life easier for both of us. Your client hub brings onboarding, factfinding, documents, messages, reminders, and reviews together in one place, while a practice engine behind the scenes keeps everything moving and cuts duplication and repetitive typing. Once you have tried it, going back to scattered emails and paper chasing rarely feels worth it. Pensions and investments follow the same hub model as mortgages and protection.

Question 6

Are you independent? What does whole of market mean?

Accepted Answer

Yes, I'm completely independent. "Whole of market" means I can access and compare products from every available lender or provider in the UK - I'm not restricted to a limited panel. This ensures you get the best possible deal for your circumstances, not just from a handful of providers.

Question 7

How much do your services cost?

Accepted Answer

Mortgage advice fees are £500 for standard cases, with complex mortgage cases typically £750 total payable on application. Protection insurance advice is provided at no direct cost to you - I'm paid by the insurer if you take out a policy. Pension and investment advice involves a discovery meeting fee of £365 (credited if you proceed), followed by a suitability report fee of £1,250-£1,750 depending on complexity and implementation fees as set out on the Fees page. All fees are explained transparently before any work begins.

Question 8

How much deposit do I need for a mortgage?

Accepted Answer

For a standard residential mortgage, you'll typically need a minimum deposit of 5% of the property value. However, larger deposits (10%, 15%, or 20%) generally unlock better interest rates. First-time buyers can access government schemes that may reduce deposit requirements, and some guarantor mortgages allow for even lower deposits in certain circumstances.

Question 9

What credit score do I need to get a mortgage?

Accepted Answer

There's no single "minimum" credit score for mortgages. Different lenders have different criteria, and your credit history is assessed alongside your income, outgoings, and deposit size. Most mainstream lenders prefer good credit histories, but specialist lenders can help if you've had credit issues in the past. I'll check your credit file and advise on any improvements before applying.

Question 10

Should I fix my mortgage rate?

Accepted Answer

Fixed-rate mortgages provide certainty - your monthly payment stays the same for the fixed period (typically 2, 3, 5, or 10 years). This protects you from interest rate rises but means you won't benefit if rates fall. Variable rates can be lower initially but may change. Most people prefer the security of a fixed rate, especially with current economic uncertainty. I'll help you weigh up the options based on your circumstances and risk appetite.

Question 11

Can I get a mortgage if I'm self-employed?

Accepted Answer

Yes! Self-employed mortgages are common, but lenders typically require 2-3 years of accounts or tax returns to prove your income. Some specialist lenders accept just 1 year's accounts. As an independent broker with whole-of-market access, I work with lenders who understand self-employed income and can present your application in the best possible light.

Question 12

How long does mortgage approval take?

Accepted Answer

A mortgage decision in principle typically takes a few hours to a few days. Full mortgage approval usually takes 2-4 weeks, depending on the lender's workload, valuation scheduling, and whether any additional documentation is needed. Complex cases (self-employed, adverse credit) may take slightly longer. I'll keep you updated throughout and chase the lender to avoid unnecessary delays.

Question 13

Do I really need life insurance?

Accepted Answer

If anyone depends on your income - a partner, children, or anyone else - then life insurance is essential. It ensures they can maintain their lifestyle, pay the mortgage, and cover bills if you die. Even if you don't have dependents, life insurance can cover funeral costs and any debts. It's also remarkably affordable, especially when you're younger and healthier.

Question 14

What's the difference between life insurance and critical illness cover?

Accepted Answer

Life insurance pays out when you die. Critical illness cover pays out if you're diagnosed with a serious illness like cancer, heart attack, or stroke (and you survive at least 14-30 days, depending on the policy). Many people choose combined life and critical illness cover for comprehensive protection. Critical illness is particularly important if you're self-employed or don't have generous sick pay from your employer.

Question 15

How much life insurance do I need?

Accepted Answer

A common rule of thumb is 10 times your annual salary, but your actual need depends on your mortgage, other debts, living expenses, childcare costs, and how long your family would need support. I'll calculate a personalised recommendation based on your specific circumstances, ensuring your loved ones are properly protected without you paying for more cover than necessary.

Question 16

Will my health issues affect my insurance premium?

Accepted Answer

It depends on the condition and how well controlled it is. Some health issues result in higher premiums, exclusions, or may prevent you from getting certain types of cover. However, whole-of-market access means I can find specialist insurers who are more lenient with specific conditions. It's always worth exploring your options - you might be pleasantly surprised.

Question 17

What is income protection insurance?

Accepted Answer

Income protection pays you a regular monthly income (typically 50-70% of your salary) if you can't work due to illness or injury. It continues paying until you can return to work, reach retirement, or the policy term ends. It's particularly valuable if you're self-employed, have a mortgage, or don't have generous sick pay. Unlike critical illness, it covers any illness or injury that stops you working, not just specified conditions.

Question 18

How much should I be paying into my pension?

Accepted Answer

A common rule is to contribute half your age as a percentage of your salary. So if you're 30, aim for 15% total contributions (including employer contributions). However, this varies based on your retirement goals, existing pension savings, and other assets. I'll create a personalised plan showing exactly how much you need to save to achieve your desired retirement lifestyle.

Question 19

Should I consolidate my old pensions?

Accepted Answer

Consolidation can make pensions easier to manage and potentially reduce fees, but it's not always the right choice. Some older pensions have valuable guarantees or lower charges that shouldn't be given up. I'll review all your pensions, check for any exit penalties or protected benefits, and advise whether consolidation makes sense. If it does, I'll arrange the transfers for you.

Question 20

When can I access my pension?

Accepted Answer

You can normally access your pension from age 55 (rising to 57 in 2028 under current legislation). You can usually take up to 25% as a tax-free lump sum, with the rest taxed as income. You don't have to stop working to access your pension. However, accessing your pension early significantly reduces how long it needs to last, so careful planning is essential. I'll model different scenarios to show the long-term impact of your decisions.

Question 21

What happens to my pension when I die?

Accepted Answer

It depends on your age and pension type. If you die before age 75 with a defined contribution pension, the full fund can usually pass to your beneficiaries tax-free. After 75, they pay income tax at their marginal rate. Defined benefit pensions often provide a spouse's pension. It's crucial to keep your pension beneficiary nominations up to date so your pension goes to the right people.

Question 22

Is it too late to start a pension in my 40s or 50s?

Accepted Answer

It's never too late! While starting earlier is ideal, you can still build a meaningful pension pot in your 40s or 50s, especially if you maximise contributions and take advantage of tax relief. You might also benefit from higher earnings at this life stage. I'll show you realistic projections and help you make the most of the time you have left before retirement.

Question 23

How much money do I need to start investing?

Accepted Answer

You can start investing with as little as £100/month or a £1,000 lump sum in many cases. However, for comprehensive financial planning and ongoing advice, there's typically a minimum investment of around £50,000-£100,000 to make the advice economically viable. Smaller amounts can be invested through execution-only platforms without advice, or via workplace pension schemes.

Question 24

What's the difference between an ISA and a pension?

Accepted Answer

ISAs (Individual Savings Accounts) allow tax-free growth and withdrawals, with an annual limit of £20,000 in the 2026/27 tax year. You can access the money anytime. Pensions receive tax relief on contributions and have a standard annual allowance of £60,000 in 2026/27 (subject to tapering and money purchase annual allowance rules in some cases), but you normally can't access funds until age 55 (57 from 2028 under current legislation). Most people benefit from using both - pensions for retirement, ISAs for medium-term goals and flexibility.

Question 25

Are investments risky?

Accepted Answer

All investments carry some risk - values can go down as well as up. However, risk can be managed through diversification, appropriate asset allocation, and investing for the long term. Generally, higher potential returns come with higher risk. I'll assess your risk tolerance, investment timeframe, and financial goals to create a portfolio that balances growth potential with your comfort level.

Question 26

How long should I invest for?

Accepted Answer

Investment portfolios typically need at least 5 years to ride out market volatility, with 10+ years being ideal for growth-focused investments. Shorter timeframes suit cash savings or low-risk investments. The longer your investment horizon, the more risk you can generally take, as you have time to recover from market downturns. I'll ensure your investment strategy aligns with when you'll need the money.

Question 27

What fees will I pay on investments?

Accepted Answer

Investment fees typically include: a one-off implementation fee (1.5% of the amount invested or transferred, subject to the current minimum household investment policy), an ongoing stewardship fee of 0.85% per year where ongoing service is selected, plus platform and fund charges. All fees are transparent and explained upfront before any recommendation is implemented.

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