Do you know the difference between life insurance and income protection? Life insurance Life insurance pays out a lump sum to your loved ones if you die during the policy term. You could either be covered for a fixed length of time (such as 10 or 25 years), or for the whole of your life. It’s sensible to get cover if you have any dependents because life insurance could help them to stay living in your home if you pass away. Income protection Income protection provides a portion of your income if you are unable to work due to illness or injury. The insurer will make monthly payments to you until either the term ends, you die or return to work. There will usually be a waiting period before you can start receiving payments. Income protection is recommended if you would struggle to cover essential living expenses if you were unable to work - for example, if you are self-employed, have limited savings or are the sole earner in your household. Do I need both? Income protection provides you with support during your lifetime, while life insurance safeguards your family in the event of your death. Both policies can offer peace of mind that you and your loved ones will be protected in times of need. As with all insurance policies, conditions and exclusions will apply. Sources: https://www.legalandgeneral.com/insurance/life-insurance/definitions/life-insurance-vs-income-protection/

If you’re self-employed, appropriate protection should be top of your list. There are many benefits to being your own boss, however it does comes with some financial risks. Have you considered what would happen if you were unable to work unexpectedly? Without the safety net of statutory sick pay, you could find yourself in a vulnerable financial position. You might lose your income but still have business costs to pay for, such as rent and equipment. It’s therefore essential to safeguard yourself and your business by getting the right cover. We can advise on the most suitable policies for you, which may include critical illness cover, income protection and other insurance. As with all insurance policies, conditions and exclusions will apply.

Research suggests that landlords may be forced to raise rents to account for tax hikes announced in the Autumn Budget. From April 2027, landlords will face a 2% tax increase on their rental income - the basic rate of property income tax will rise from 20% to 22%, while the higher rate will increase from 40% to 42%. Those paying the additional rate will pay 47%. In a survey of landlords, 86% said they expected the measures to push rents higher. But the first phase of the Renters’ Rights Act takes effect in May 2026 – from then, landlords will only be able to raise rents once a year. Ryan Etchells at Together commented, “this will inevitably result in higher rents from next year onwards, and if landlords can’t make their portfolios work for them they could be forced to sell-up altogether.” Sources: https://www.mortgagestrategy.co.uk/news/nine-in-10-fear-2-tax-hike-on-landlords-will-push-rents-higher-together/

According to recent research, a quarter of Brits are letting their home insurance renew automatically. Of the 25% people who allow their cover to auto-renew, 17% said that they do it without checking if better quotes are available. 8% said that, by the time they remember to shop around, it’s too late as their insurance has already renewed. Men (28%) are more likely than women (21%) to let their policy auto-renew. Meanwhile, 35% of those aged between 25 and 34 admitted to letting their home insurance roll over. Although it may seem like the easier route, letting your insurance auto-renew means you could be missing out on better deals. And If your needs have changed, you may require a higher or lower level of cover. As with all insurance policies, conditions and exclusions will apply Sources: https://press.gocompare.com/news/a-quarter-of-brits-admit-to-letting-their-home-insurance-renew-automatically

Hoping to move or remortgage this year? Here’s how to get mortgage-ready in 2026. Review your finances Now that the busy festive period is over, why not take this opportunity to organise your finances. Go through your bank statements and identify where you can reduce your spending – not only will this help you save for a deposit, but it will make your mortgage application stronger in the eyes of a lender. Set savings goals There are many hidden costs associated with moving, including conveyancing fees, removal vans, stamp duty and surveys. Considering these additional costs now will help you plan realistically and start saving accordingly. Check your credit score Most lenders use one of three main credit reference agencies to check your credit report – TransUnion, Equifax and Experian. You can check your score for free now, giving you time to make any necessary improvements before applying. Consult a mortgage broker Seeking professional advice early can make sure you’re well prepared for the mortgage process. It can help you set a realistic budget and gives you an opportunity to strengthen your application. Your home may be repossessed if you do not keep up repayments on your mortgage. You may have to pay and early repayment charge to your existing lender if you remortgage.