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Insurance - Protection
MORTGAGES
MORTGAGES
Whether you are a first time buyer, experienced landlord, home mover, looking to remortgage or to raise money for an extension, Oakdene Mortgages are here to help you every step of the way.
Protection
Protection
It is crucial to ensure that your family, home and loved ones are protected in the event of death, critical illness, accident & sickness.
Whole of Market Mortgage Advice
Oakdene Mortgages are independent, whole-of-market mortgage and protection brokers serving clients In Brighton & Hove, East & West Sussex and across the UK. We’re proud to have built a reputation for excellent service, with 5-star reviews from clients who value our approachable style and expert knowledge. From first-time buyers navigating their first purchase to landlords building their portfolio, we combine experience with genuine care to ensure you feel confident and supported throughout the process. All with no Broker Fees
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If you find it difficult to understand leasehold and freehold, you’re not alone. Research has found that leasehold is the UK’s most confusing property term, with the term generating over 160,000 Google searches in the last year. Freehold was second on the list, accounting for 114,000 searches. Most flats are sold as a leasehold, meaning that you own the property for a fixed period, but not the land it sits on. The lease will have a fixed term, usually between 90 and 999 years. With freehold property, you own the building and the land. Most houses are freehold, although there are some that are leasehold, often through Shared Ownership schemes. Most people generally prefer freehold, but it means that you are responsible for maintaining all aspects of the land and property. Sources: https://www.propertyreporter.co.uk/leasehold-tops-the-list-of-most-confusing-property-terms.html
Over the last year, house prices have increased 5.3 times faster than the rate of earnings. The average house price has increased by £10,087 to £271,403. However, the typical annual salary has only gone up by £1,921 to £40,334. The East of England and the East Midlands have experienced the most significant disparity, with house prices outstripping earnings by 6.7 times. Scotland (6.4 times), Wales (6.3 times) and Yorkshire and the Humber were also significantly affected (5.8 times). Despite London experiencing slower house price growth and higher salary levels, prices have still increased 4.7 times faster than average earnings. The gap was relatively smaller in the North West (3.8 times), South East (3.7 times) and South West (3.3 times), although there is still a noticeable difference. Sources: https://todaysconveyancer.co.uk/average-house-price-increased-5-3-times-salaries-year/
Recent data has highlighted the importance of protection insurance as it continues to support people in times of need. In 2024, protection insurers paid out a record £8bn in combined group and individual claims. This means that £21.9m was paid out every day to policyholders suffering from illness, injury or bereavement. Average payout increasing Last year, £5.32bn in protection claims was paid out across individual life insurance, income protection and critical illness policies. This is 10% higher than the total value of claims paid in 2023, even though the number of individual claims was broadly the same at 275,000. The average payout increased by 10% to £18,700, up from £17,100 the previous year. The importance of critical illness cover Critical illness cover serves as vital protection for those with a serious illness such as cancer, a heart attack or stroke. In 2024, the total value of critical illness claims increased by 5% to £1.3bn. The average claim paid was £67,600 – this is a significant lump sum which helps alleviate the financial burden on policyholders, allowing them to focus on recovery without worrying about money. Cancer remains the leading cause for a critical illness payout, accounting for 62% of all claims. Total payouts for the condition went up by 4% to £812m. Income protection provided essential support Income protection makes regular monthly payments if you’re unable to work due to illness or injury. It is designed to replace some of your income, helping you to cover regular expenses such as your mortgage, bills and other living costs. Figures show that this form of protection continues to support policyholders across the UK until they return to work, retire or reach the end of their policy term. The value of income protection claims has increased by 16% year-on-year to £204m. The typical payout rose to £10,000, up 6% on the previous year. Musculoskeletal issues such as neck and back pain were the most common reason for an individual income protection claim, representing a third (34%) of claims paid. High proportion of claims result in payout Over the last decade, the proportion of new individual claims paid has stayed at 97.9% or above. The main reasons for declined claims were non-disclosure of pre-existing medical conditions at the time of taking out the policy and claims not meeting the policy definitions. It’s therefore essential to be transparent with your insurer about your health and make sure you understand when you will be covered. Here to help We can help you choose a policy that is tailored to your needs and meets your budget. As with all insurance policies, conditions and exclusions will apply. Your home may be repossessed if you do not keep up repayments on your mortgage. Sources: https://www.abi.org.uk/news/news-articles/2025/7/record-8bn-paid-out-in-vital-protection-claims-during-2024/
An index has found that average quoted home insurance prices are decreasing. Competition across the insurance market is rising, resulting in insurers quoting lower prices. Over the last year, quoted premiums have decreased by 7.9%, with most premiums quoted between £150 and £199. In June, 62.5% of consumers had the potential of sourcing quotes for less than £200, up from 56% the year before. Premiums have fallen for properties of all ages, but the biggest decrease was seen in homes built between 1925 and 1940, and between 1985 and 2000. Meanwhile, the North East is the region with the biggest drop (-10.5%) in quoted premiums while the South West has seen the smallest fall (-2.0%). As with all insurance policies, conditions and exclusions will apply. Sources: https://uk.finance.yahoo.com/news/quoted-home-insurance-premiums-fall-230100843.html?guccounter=1
A concerning number of people have insurance policies that they have forgotten about or can’t access. There are an estimated 3.4 million dormant insurance policies in the UK, valued at £8.1bn. This works out at an average of £2,366 per policy, which is the equivalent of two months average mortgage payments. This means many could have missed out on vital financial support when they really need it. In most cases, the policies have been lost or forgotten as life changes, whether that’s due to a house move, marriage or divorce. It’s therefore essential to review existing policies to make sure you don’t miss out on any claims you’re entitled to. As with all insurance policies, conditions and exclusions will apply. Your home may be repossessed if you do not keep up repayments on your mortgage. Sources: https://protectionreporter.co.uk/my-dad-is-83-he-keeps-his-policy-documents-in-a-box-at-home-how-can-firms-locate-and-contact-gone-away-customers.html
The Conservatives have pledged to abolish Stamp Duty Land Tax (SDLT) on people’s main homes if they return to government. It’s a bold promise that could save buyers thousands — but what does it really mean for you and the Brighton & Hove property market ? What’s Stamp Duty Again? Stamp Duty is a tax you have to pay when you buy a property in England. The amount you pay depends on the price of the property: For home movers (not first-time buyers): If you buy a home for £200,000, you pay £1,500 in stamp duty. If you buy for £300,000, you pay £5,000. If you buy for £400,000, you pay £10,000. For first-time buyers: There’s a special discount called “first-time buyer relief.” If the property costs up to £300,000, you pay no stamp duty. If it’s over £300,000, you pay 5% on the amount above £300,000. For example, if you buy for £400,000, you pay 5% of £100,000 (which is £5,000). Why does this matter? Stamp duty is a significant extra cost for buyers in Brighton & Hove, on top of your deposit and other fees. It can make buying a home more expensive and is something you need to budget for when planning a purchase. What the Conservatives Are Proposing Their plan would: Scrap Stamp Duty completely for anyone buying their main home. Keep it for second homes and investment properties. Save typical buyers in Brighton & Hove thousands of pounds , since local property prices often fall well above the national average. Why It Sounds Appealing Makes moving easier – People might be more willing to move without worrying about a hefty tax bill. Helps first-time buyers – Less tax means lower upfront costs and potentially smaller deposits. Encourages activity – The housing market could see more movement and more available homes. But There Are Some Catches It’s still a pledge, not policy – The plan would depend on election results and the government’s finances. House prices could rise – If buyers save thousands on tax, sellers may simply raise asking prices. Big cost to the Treasury – Stamp Duty brings in billions each year, so scrapping it entirely may be difficult to sustain long-term. What This Means for Brighton & Hove In high-value areas like Brighton & Hove, this change could save buyers tens of thousands of pounds and encourage more local moves. But with strong demand and limited housing stock, it might also push prices up further — something to keep in mind if you’re planning a purchase soon. Final Thoughts Whether or not it happens, this pledge has already got people talking. If Stamp Duty is scrapped, Brighton & Hove buyers could see big savings and a livelier market — but we’ll have to wait and see if the promise becomes reality.
Contact us
Telephone: 01273 289913
Rebecca: 07816 164678
Emma: 07887 685800
Julie: 07306 133339
info@oakdenemortgages.co.uk
Business Hours
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- Saturday
- Appointment only
- Sunday
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Address
41 Oakdene Crescent, Portslade, Brighton, BN41 2RP, United Kingdom
