By the time your child turns 18, the damage they cause at home could cost you nearly £15,000, according to Checkatrade. It says parents spend an average of £449 a year per child on repairs, with four-year-olds causing the most chaos. However, damage caused by angry teens can also be expensive. Replacing broken electronic items averages £325 a year, while furniture, carpets and scratched floors are frequent casualties. Kids may also draw on walls, slam doors and break their own toys. Many parents now take steps to protect their homes, from washable paint to hard flooring and TV screen protectors. Consider adding accidental damage cover to your home insurance, so the most expensive damage is paid for by your insurer. As with all insurance policies, conditions and exclusions will apply Source: https://www.yourmoney.com/insurance/home-damage-caused-by-your-children-will-reach-15000-by-the-time-they-hit-18/

It was a busy summer of news for the housing market – here’s what you need to know. In August, the Bank of England (BoE) reduced Bank Rate from 4.25% to 4%. This is the lowest level in two years and the fifth cut since August 2024. However, the decision wasn’t straightforward as the Monetary Policy Committee (MPC) required two rounds of votes to reach a majority. Ultimately, five members were in favour of lowering the rate, while four wanted to hold it at 4.25%. Since the rate cut, data shows that UK inflation was 3.8% in July, which is higher than expected and nearly double the BoE’s 2% target. The Bank believes this rise is temporary, caused by food, energy and other price increases, so expects inflation to fall back in the coming months. Even so, experts predict that this will prompt the MPC to take a more cautious approach to future cuts. Impact on the housing market Changes to Bank Rate directly affect the cost of borrowing. With 900,000 mortgage deals coming to an end in the second half of 2025, many homeowners may now benefit from slightly reduced rates. However, it might not be a drastic change, as Richard Donnell at Zoopla explained, “The price of fixed rate mortgages already factors in the future path of base rates meaning average mortgage rates are likely to remain broadly where they are today.” Affordability slowly improving After housing affordability worsened during the pandemic, it is now steadily improving. This is due to a combination of strong income growth, slower house price growth and easing of mortgage rates. Currently, the average UK home costs about 5.75 times typical income, a significant improvement on 2022’s all-time high of 6.9 and the lowest this ratio has been in over ten years. Along with increased availability of high loan-to-value mortgages, this has made buying more achievable for many borrowers. Modest house price growth House price growth picked up slightly in July with annual growth of 2.4%, up from 2.1% in June. There was a month-on-month rise of 0.6%, taking the value of the average home to £272.664. Although marginal, this uptick is positive as it suggests that the housing market is showing some resilience following the Stamp Duty reforms in April. Market outlook Robert Gardner, Nationwide’s Chief Economist, said, “Despite wider economic uncertainties in the global economy, underlying conditions for potential home buyers in the UK remain supportive.” He continued, “Providing the broader economic recovery is maintained, housing market activity is likely to continue to strengthen gradually in the quarters ahead.” 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. Sources: https://www.nationwide.co.uk/media/hpi/reports/annual-house-price-growth-edges-higher-in-july https://www.bbc.co.uk/news/live/cedvn267z0jt https://www.bbc.co.uk/news/articles/cdd3qm7ly8ro https://www.zoopla.co.uk/discover/property-news/what-do-higher-interest-rates-mean-for-the-housing-market/

Income Protection Awareness Week takes place 22 to 26 September 2025, aiming to highlight the importance of protecting your income from illness or injury. Income protection insurers paid out a total of £204m to policyholders in 2024. Unfortunately, many people still don’t understand the importance of insurance – a recent survey found that only 15% of young homeowners would consider themselves to ‘know a lot’ about income protection. This is concerning as 14% of 18 to 34-year-olds think they would immediately struggle to keep up with mortgage repayments if they were unable to work. Meanwhile, over half (57%) said they would experience financial difficulty after six months of losing their income. The survey respondents were asked how they would cope with a sudden loss of income. Three in ten (29%) said they would try to take on additional work and 23% said they would reduce their savings or pension contributions. But all these options may be at the expense of their emotional or financial wellbeing. Make sure you’re fully insured in Income Protection Awareness Week. Why not review your cover with us now, we’re happy to help. 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/ https://protectionreporter.co.uk/lifesearch-54-of-18-34-year-old-homeowners-claim-to-have-life-policies-but-majority-dont-know-about-ip.html

Over half (54%) of 18 to 34-year-old homeowners have life insurance, however only 15% of this group understands income protection. A survey has found that 30% of young borrowers have not got any protection insurance in place. It is therefore concerning that 14% believe they would have difficulties keeping up with their mortgage payments as soon as they became unable to work due to injury or illness. Meanwhile, 57% of 18 to 34-year-olds would struggle within six months of losing income. When asked what they would do in the event of illness or injury, 29% of young homeowners said they would attempt to take on additional work, while a quarter (23%) would reduce contributions to their savings or pensions pot. Paula Higgins, CEO at HomeOwners Alliance, commented, “For young homeowners, the stakes are high: many have stretched to afford their property and their financial resilience is often still being built.” No one likes to think about being affected by illness or injury, but going without essential protection could put you and your loved ones in a vulnerable position. Don’t leave it up to chance, talk through your options with us. 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/lifesearch-54-of-18-34-year-old-homeowners-claim-to-have-life-policies-but-majority-dont-know-about-ip.html https://www.ftadviser.com/critical-illness/2025/6/2/nearly-a-third-of-young-mortgage-holders-do-not-have-protection/

A new report has found that women have significantly less insurance cover than men. In a survey of 2,000 UK adults, a third (32%) of women said they do not have life insurance, twice the number of men (16%). More than a fifth of female respondents did not think they could afford it, versus just 10% of men who expressed affordability concerns. This disparity may be due to a lack of education, with 29% of women saying they have never been taught about life cover compared with 18% of their male counterparts. Moreover, three in ten (29%) women aren’t sure what support life insurance would provide to their loved ones if they died. The report indicates that many people remain unsure about life insurance; what it is, what it can be used for, its benefits and its role in protection, estate planning and retirement. Talk to us There’s no need to feel ashamed about what you don’t know as it’s never too late to get informed. We’re here to answer any questions you have. With the right cover in place, you could safeguard your family’s future if the worst happened. As with all insurance policies, conditions and exclusions will apply Sources: https://www.actuarialpost.co.uk/article/women-twice-as-likely-to-not-have-life-insurance-as-men-25112.htm https://www.yourmoney.com/insurance/mind-the-life-insurance-gender-gap/ https://www.fca.org.uk/financial-lives/financial-lives-2024

By 2030, more than 104,000 Help to Buy accounts will reach the end of their interest-free period. The Help to Buy scheme ran for ten years, between 2013 and 2023. Buyers of new builds were lent up to 20% (or up to 40% in London) of the property’s value as an equity loan. The loan is interest-free for five years and is repayable when the home is sold. According to a Freedom of Information request, there are already 101,000 Help to Buy accounts that have become interest-bearing. The average monthly interest payment on a Help to Buy loan is approximately £107. If you’re faced with higher monthly repayments, you don’t have to go through it alone. Professional advice can help you take control of your finances. Your home may be repossessed if you do not keep up repayments on your mortgage. Sources: https://www.yourmoney.com/mortgages/first-time-buyer/exclusive-over-104000-help-to-buy-accounts-set-to-come-to-end-of-interest-free-period-by-2030/

Data shows that remortgage activity hit a 15-month high in May. There were 41,500 remortgage approvals, up 6,200 on April and the highest level since February 2024. There was also a rise in new mortgages for the first time since December, with 63,000 approvals. Meanwhile, gross mortgage lending was £20.4bn in May, £16.9bn higher than the previous month. Jason Tebb, President of OnTheMarket, said that the rise in purchase approvals could suggest that the market is getting “back on track”. He added, “Further rate reductions from the Bank of England would provide more impetus for the market in the second half of the year.” Your home may be repossessed if you do not keep up repayments on your mortgage. You may have to pay an early repayment charge to your existing lender if you remortgage. Sources: https://www.yourmoney.com/mortgages/remortgage-activity-reaches-15-month-high-in-may/

New research has revealed that just 43% of people have enough life insurance, with the so-called ‘squeezed middle’, typically in their 30s and 40s, most at risk of having a lack of protection in place. The shortfall is especially stark among mortgage holders, where only 36% have sufficient cover. Families fare even worse - just 30% of couples with children and only 10% of single parents have adequate protection arranged. This age group often faces the greatest financial pressure, juggling childcare costs, large mortgages and household bills, yet many lack the robust safety nets they need. While most people understand the need to cover their mortgage, fewer consider the cost of raising children if the worst happens. Not all the findings were negative. The study also showed that emergency savings improve with age. By their mid-30s, two-thirds have a financial buffer in place, rising to 70% by their late 40s. Overlooking life insurance altogether could leave you and your family in serious financial trouble. If the worst happens, families suffer not just emotional loss, but also face potential financial hardship too. Having the right protection, to suit your budget, can make all the difference. As with all insurance policies, conditions and exclusions will apply Source: https://www.ftadviser.com/protection-gap/2025/5/7/squeezed-middle-falling-into-protection-gap/

A survey of 2,000 Brits has found that most people are living without essential life insurance. Only 45% of respondents have life cover, which means over half of UK adults risk leaving their loved ones in a precarious financial position in the event of their death. Concerningly, 15% don’t know if they are insured. Adults over 55 are the least likely to have cover, with 36% going uninsured. Meanwhile, 25 to 34-year-olds seem to be the most aware of the benefits of life insurance, as only 5% are not covered. Moreover, 18 to 24-year-olds are the only age group to have seen an increase in policies since 2022, which is promising for Gen Z’s financial future. The East Midlands is the area where the highest percentage of people have no life insurance (32%). On the other hand, Greater London is the most covered area, as only 12% don’t have a policy. The survey highlighted that many Brits do not understand the requirements of life insurance. Nearly three in ten respondents believe you need to have life insurance in place to be accepted for a mortgage. It is not law, but life cover is highly recommended if you are a homeowner. 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.uk-lifeinsurance.com/blog/life-insurance-in-the-uk-index-2025/

The housing market seems to be regaining momentum, as sales are being agreed at the fastest rate in four years. The number of sales agreed was up 6% annually in June, which coincided with the stock of new property listings going up by 14%. This indicates that buyers are regaining confidence, with demand rising by 7%. Executive Director at Zoopla, Richard Donnell, commented, “The number of buyers and sellers agreeing home sales continues to increase year-on-year, demonstrating a continued desire of more households to move home in 2025.” Hoping to move by the end of year? Whether you’re upsizing, downsizing, or getting on the property ladder for the first time, we’re here to help with all your mortgage needs. Your home may be repossessed if you do not keep up repayments on your mortgage. Sources: https://www.yourmoney.com/mortgages/agreed-sales-rise-amid-more-housing-supply-and-slower-price-growth/

A new study has found nearly a third of young UK mortgage holders have no protection cover, leaving them financially vulnerable if their income suddenly stops. The research surveyed more than 1,200 homeowners aged 18 to 34, including 500 with mortgages. Among those surveyed, only 15% of young homeowners said they knew a lot about income protection and just one in three had life insurance or critical illness cover. Short-term fixes, long-term risks When asked how they would cope with a sudden loss of income, 14% said they would immediately struggle to meet their mortgage payments if they lost their income. A further 57% said they would face financial difficulty within six months. To make up for the income shortfall, 29% of respondents said they would try to take on extra work. Others would cut savings or pension contributions (23%), apply for government support like Universal Credit (21%), or consider a bank loan (12%). The report warns these are short-term solutions that could lead to greater financial strain later on. The younger generation is particularly exposed to more job uncertainty and cost-of-living pressures, making long-term planning all the more essential. High stakes for first-time buyers Paula Higgins, CEO of HomeOwners Alliance, expressed her concerns, highlighting the specific risks faced by younger buyers, “We need to do more to support young people in staying financially secure, especially as they take on the long-term responsibility of a mortgage. Ensuring they have the tools, knowledge, and support to weather life’s ups and downs is essential to helping them hold onto their homes and build a stable future.” A growing awareness – but not across all products While the findings point to an urgent need for education and better access to protection, there are signs that awareness is starting to improve. Separate research from Swiss Re reveals income protection sales have increased by 18% year-on-year. However, sales of other types of cover, including life insurance and critical illness, have declined. The message is clear - there’s an urgent need to close this awareness gap. That means clearer advice, better signposting and conversations about protection starting earlier – so that young homeowners aren’t left exposed. Don’t wait for a crisis to realise what’s missing. Speak to us today about protection insurance - because securing your income means safeguarding your home, your future and your peace of mind. Your home may be repossessed if you do not keep up repayments on your mortgage. As with all insurance policies, conditions and exclusions will apply Source: https://www.yourmoney.com/mortgages/nearly-a-third-of-young-mortgage-holders-have-no-protection/ https://www.ftadviser.com/critical-illness/2025/6/2/nearly-a-third-of-young-mortgage-holders-do-not-have-protection/

Rural house prices are still rising faster than those in towns and cities, according to Nationwide. While the pandemic-driven rush for countryside homes has eased, demand for space continues to support stronger growth in rural areas. Most home movers over the past five years stayed in similar locations, with 63% moving within the same type of area. Just 9% moved from towns or cities to rural spots, partly balanced by 7% heading the other way. Younger buyers tended to favour urban moves, while older movers, especially those over 55, were more likely to head for the countryside, often in search of more space or a bigger garden. Source: https://www.yourmoney.com/mortgages/rural-house-price-rises-outpace-towns-and-cities/

The number of UK homeowners with more than £300,000 left to repay on their mortgage has nearly doubled in the past seven years, highlighting the growing financial strain many are facing, amid high property prices and rising interest rates. New analysis of the Financial Conduct Authority’s (FCA) Financial Lives Survey reveals that 9% of mortgage holders now owe over £300,000 – up from just 5% in 2017. In areas with the highest house prices, such as London and the South East, the proportion jumps significantly. Today, 28% of homeowners in these regions owe over £300,000, compared with 17% seven years ago. The analysis reveals a growing trend of homeowners taking on substantial mortgage debt, while household incomes have failed to keep up with rising property prices. In addition, the recent surge in mortgage costs has intensified financial pressure - especially in regions where borrowing was already high. Stretching affordability Most lenders cap borrowing at around four-and-a-half times a borrower’s annual income. But the data shows that one in seven homeowners now hold mortgage debt worth at least four times their income – a notable increase from 11% in 2017. Although this is down slightly from the 2020 and 2022 peak of 16%, it suggests many homeowners have little headroom left. The figures present a concerning picture, especially considering how many borrowers still neglect to shop around for more competitive mortgage deals. Even modest reductions in interest rates can lead to significant long-term savings over the course of a mortgage. Wider signs of financial strain The FCA survey paints a broader picture of financial vulnerability across the UK. One in 10 people reported having no savings at all. Almost a quarter of respondents were classed as having low financial resilience. Sarah Pritchard, Executive Director of Consumers and Competition at the FCA, acknowledged the pressures many households are facing. “FCA data shows that finances are stretched for many,” she said. “But there are improvements – more people with current accounts and less digital exclusion. Our strategy will build on this to help people better navigate their financial lives.” Looking ahead With mortgage debt levels rising and many homeowners close to their borrowing limits, it’s vital to review your finances regularly and seek professional advice to avoid long-term financial strain. Your home may be repossessed if you do not keep up repayments on your mortgage. Sources: https://www.yourmoney.com/mortgages/proportion-of-homeowners-with-over-300000-left-to-pay-off-on-mortgage-nearly-doubles/ https://www.fca.org.uk/publication/financial-lives/financial-lives-survey-2024-key-findings.pdf

House prices update House price growth slowed to 2.1% in June, down 0.8% month-on-month. Performance varies significantly depending on the region, with Northern Ireland seeing the strongest growth of 9.7%. East Anglia was the weakest area, where house prices only increased by 1.1% annually. House prices are increasing at the fastest rate in areas with the most affordable properties. In regions where the average home is below £200,000, annual house price growth is 2.7%. On the other hand, prices are falling by 0.2% in areas where the average property is above £500,000. A buyer’s market The rise in supply of homes seems to have contributed to the slowdown in house price growth. Buyers have greater choice, with 14% more homes for sale than this time last year. In regions where supply has increased the most (London, the South East and South West), house prices have risen annually by no more than 0.5%. However, in the North of England, the West Midlands and Scotland, where supply has only marginally increased, prices have gone up by 2-3%. As the current market favours buyers, sellers have been encouraged to be realistic when pricing their properties. Richard Donnell at Zoopla said, “Keep in mind that you may have to wait longer to achieve your desired price if it’s not in line with your local market.” It’s not all bad for sellers, though. Despite high supply, sales are being agreed at the quickest rate in four years, with Rightmove suggesting that ‘spoiled-for-choice buyers are still being tempted by the right property at the right price’. How long to sell? The average home takes 45 days to find a buyer, roughly the same as last year. Time taken to sell varies by the region, with the North East the quickest at 35 days. Meanwhile, it takes at least 50 days in all southern regions of England, where there is a greater supply of homes. Regardless of location, once a home is taken off the market it can then take up to 4-5 months to complete a purchase. What’s to come? Many lenders have eased their affordability criteria, so mortgage holders can afford to borrow 20% more than they could at the start of 2025. This should boost transactions in the second half of the year and into 2026. Plus, the total number of sales is expected to increase by 5% over the course of 2025. Annual house price growth is expected to remain modest at 1-2%. Robert Gardner, chief economist at Nationwide, commented, “we still expect activity to pick up as the summer progresses, despite ongoing economic uncertainties in the global economy, since underlying conditions for potential homebuyers in the UK remain supportive.” Your home may be repossessed if you do not keep up repayments on your mortgage. Sources: https://www.mortgagestrategy.co.uk/news/house-price-growth-slows-to-2-1-in-june-nationwide/ https://www.propertyreporter.co.uk/buyers-gain-ground-as-wider-choice-slows-house-price-growth-zoopla.html https://www.mortgagestrategy.co.uk/news/what-lies-ahead-for-house-prices/ https://www.zoopla.co.uk/discover/property-news/house-price-index/ https://www.rightmove.co.uk/news/articles/property-news/house-prices-hit-record-may-2025/

Nearly two-thirds of UK homebuyers faced unexpected costs in the past year, according to recent research. First-time buyers were hit hardest, with 66% encountering surprise expenses, compared to 55% of movers. The survey of over 1,000 buyers found costs such as legal fees, repairs and one-off charges often disrupted the process, with 27% naming these the most frustrating part of the home buying process. Conveyancing costs also climbed, with £1.9bn spent in 2024, up 17% on the year before. Yet despite rising conveyancing fees, unexpected costs proved most stressful for buyers. The research highlighted the need for better education around home purchase costs beyond legal fees and mortgage costs. Your home may be repossessed if you do not keep up repayments on your mortgage Source: https://www.ftadviser.com/mortgages/2025/5/29/two-thirds-of-homebuyers-stuck-with-unexpected-costs/

Almost half a million homeowners coming off five-year fixed rate mortgage deals taken out in 2020 could see a major spike in their monthly mortgage repayments. These borrowers have been paying an average interest rate of just 2.11%. However, if they revert to their lender’s standard variable rate (currently averaging 7.13%) when their deal comes to an end, their monthly repayments could soar to £1,227 on average, a jump of £510 a month or another £6,000 a year. Although rates have eased from recent peaks, they remain higher than the ultra-low levels seen during the pandemic. Borrowers who secured low-cost deals in 2020 are likely to face a payment shock. As a result, we advise shopping around, with our help, rather than automatically switching to your lender’s standard variable rate. Locking in a new five-year fixed rate at 4.33% could save over £3,600 a year, while a two-year fix at 4.6% could save around £3,290. It’s important to review your options early. Many lenders allow borrowers to secure a new deal up to six months in advance, helping to avoid last-minute panic and potentially saving thousands in the process. Your home may be repossessed if you do not keep up repayments on your mortgage Source: https://www.yourmoney.com/mortgages/remortgage/nearly-half-a-million-homeowners-could-see-substantial-increase-in-monthly-mortgage-payments/

House prices crept up again in May, with Nationwide reporting annual growth of 3.5%, slightly above April’s 3.4%. Prices also rose 0.5% month on month, once seasonal factors were taken into account. There was a surge in property transactions in March, as buyers rushed to complete purchases ahead of higher Stamp Duty charges. The number of owner-occupier completions was double the usual level and the highest since June 2021. Despite the end of the Stamp Duty holiday, Nationwide believes the housing market is holding up well. Mortgage approvals remain steady and the backdrop for buyers is still broadly supportive. Lower interest rates in the months ahead could help ease borrowing costs further. Your home may be repossessed if you do not keep up repayments on your mortgage Source: https://www.nationwidehousepriceindex.co.uk/reports/annual-house-price-growth-edged-higher-in-may https://www.zoopla.co.uk/discover/property-news/house-price-index/

Are you considering making mortgage overpayments? Here’s what to consider. If you can afford it, there are many advantages to overpaying your mortgage, such as: - Becoming a step closer to being mortgage-free - Reducing the amount of interest you owe - Lowering your loan-to-value ratio (LTV). However, before you make overpayments it’s vital to check the following: - Is there an early repayment charge (ERC)? Many lenders allow borrowers to pay off 10% of the mortgage balance each year without a fee, but you must double check the terms of your deal. - Do you have other debts that you should settle first? - Would it be more beneficial to place your extra cash elsewhere, such as a savings or pension pot? Your home may be repossessed if you do not keep up repayments on your mortgage

Home insurance premiums are rising, due to construction costs and claims linked to extreme weather. According to recent data, the average cost of a combined buildings and contents insurance policy increased 8.5% in the past year. Premiums remain highest in Northern Ireland and London, while they are cheapest in the North East. Property size also affects cost significantly, with policies for larger homes often more than double those for smaller properties. Rebuild costs The increase in premiums reflects rising rebuild costs. Material shortages, higher labour costs and inflation have all pushed up the cost of construction. Changes to environmental and building regulations have also added complexity and expense to home repairs and rebuilds. In areas affected by storms or flooding, claims have become more frequent and costly, prompting insurers to raise premiums to cover the increasing risk. Time to review It’s worth reviewing your existing policy to check whether it reflects the current cost of rebuilding your home, as the amount covered under an outdated policy may fall short of the true cost of rebuilding today. Why not contact us for an insurance review today. As with all insurance policies, conditions and exclusions will apply. Sources: https://www.yourmoney.com/insurance/home-insurance-premiums-rise-due-to-rebuild-costs/ https://www.actioninsurancerepair.co.uk/blog/the-impact-of-rising-construction-costs-on-property-insurance-claims https://www.checkatrade.com/blog/cost-guides/rebuild-house-cost/

One in ten divorcees have forgotten to remove their former partner as a beneficiary on their life insurance policy according to research by Legal & General. The research also says just 7% of couples discussed life insurance during separation, while only 6% formally waived rights to joint cover. Failing to update financial arrangements can lead to costly errors, including ex-partners inheriting unintended assets. The research noted just 11% of divorcees reviewed their Wills, only 4% took out critical illness cover and 3% took out income protection policies post-divorce. It’s really important for anyone going through a separation to be fully aware of the financial implications of divorce and to consider who they want to benefit from any life insurance. As with all insurance policies, conditions and exclusions will apply. Source: https://www.yourmoney.com/insurance/a-tenth-of-divorcees-have-forgotten-to-remove-former-spouse-as-life-insurance-beneficiary/

More than two million UK mortgage holders would be facing financial distress if their income suddenly stopped. That’s the key finding from a recent study by LifeSearch & Homeowners Alliance, which found 36% of mortgage holders – roughly 2.34 million people – have no financial protection such as life insurance, income protection or critical illness cover. While two-thirds of respondents said they had discussed mortgage protection with advisers, lenders or family, only 16% had taken out an income protection policy. Almost half those surveyed said they would struggle with mortgage payments within six months if they lost their income. One in five said they would face difficulties in two months. Taking action The study highlights a worrying gap between intention and action. While many mortgage holders have spoken to someone about taking out protection cover, far fewer have actually taken steps to put insurance in place – leaving themselves and their homes vulnerable to life’s unexpected events. Paula Higgins of the Homeowners Alliance said, “Without a safety net like income protection, a sudden illness or job loss could lead to devastating consequences.” Your home may be repossessed if you do not keep up repayments on your mortgage. As with all insurance policies, conditions and exclusions will apply. Source: https://www.propertyreporter.co.uk/over-2m-uk-mortgage-holders-are-one-paycheck-away-from-crisis.html

According to Moneyfacts, the number of low-deposit mortgages available at 90% and 95% loan-to-value (LTV) has reached its highest level since 2008, with 1,287 products on offer at the time of writing. In April, there were over 400 deals at 95% LTV and over 800 deals at 90% LTV, signalling growing lending support for buyers with smaller deposits. The number of mortgages available for those with larger deposits also improved, up from 778 in March to 797 in April. Noting the number of 95% LTV deals represents just 6% of all deals available to borrowers across fixed and variable mortgages, Moneyfacts’ Rachel Springall called the increase “a healthy step in the right direction”. Your home may be repossessed if you do not keep up repayments on your mortgage. Source: https://www.yourmoney.com/mortgages/options-for-low-deposit-mortgages-hit-17-year-high/

Life insurance is perhaps one of the most misunderstood areas of personal finance which could be stopping people from getting the cover they need. For example, people often think life insurance is only for older people. In fact, it plays a vital role for people in their 20s, 30s and 40s — especially those with financial obligations such as mortgages, children or other dependents. Variety of cover There is more than one type of life insurance. Different plans offer varying features and costs. Whole life insurance provides permanent cover, but it is typically more expensive. Term life insurance, by contrast, offers cover for a specific period — usually 10, 20 or 30 years — and is generally cheaper. Work cover People frequently assume the life insurance offered by their employer is sufficient. However, workplace policies typically provide a death benefit equal to one or two years’ salary. This may cover short-term needs, but won’t support a family over the long term. Having a separate policy would see cover staying in place regardless of job changes or redundancy. 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 Source: https://uk.finance.yahoo.com/news/suze-orman-debunks-4-common-131922563.html

Affordability for first-time buyers (FTBs) reached its most favourable level in ten years last year, despite house price rises over the same period. New analysis from estate agents Yopa shows the average price paid for a first home in the UK has increased 63% since 2014. However, earnings growth relative to income means homes are now the most affordable since 2015. The analysis compared average FTB house prices with average annual earnings, calculating how many years of income are needed to purchase a first home. In 2024, that figure stood at 7.1 years, based on an average annual income of £31,717 and an average FTB property price of £226,744. The 2024 affordability ratio matches the level last seen in 2015. The ratio peaked at 8.0 in both 2021 and 2022, before easing to 7.3 in 2023. The improvement is largely the result of stronger wage growth. Average annual earnings rose 6.2% in 2023 and a further 7% in 2024. At the same time, FTB house prices fell slightly in 2023 and have grown more modestly since. Significant regional disparities London remains the least affordable region for FTBs, with an income-to-house price ratio of 12.4. This means buyers in the capital require more than 12 times the average local income to buy their first home. The South East, East of England and South West were all above the national average, with affordability ratios of 8.9, 8.5 and 8.4, respectively. At the other end of the spectrum, the average first home in Scotland costs 4.8 times the average annual income, making it significantly more affordable than the rest of the UK. Challenges remain despite improving trends Yopa Chief Executive Verona Frankish said affordability remains a major concern for prospective buyers, “It’s fair to say that getting that first foot on the ladder has been no easy task at any point over the last decade and, now that the Help to Buy scheme has ended, it’s perhaps tougher than ever in some respects.” However, rising earnings in recent years have improved the overall picture. Frankish added, “The silver lining for today’s first-time buyers is that whilst the average price of a first home has increased substantially over the last 10 years, earnings growth has also improved considerably in the last three to four years.” Affordability still challenging While the improving affordability ratio may encourage prospective buyers, a ratio of 7.1 still implies a considerable stretch for many households and affordability in high-demand regions remains a significant barrier. Nevertheless, with wage growth outpacing house price inflation, there are signs that conditions may be slowly becoming more favourable for those entering the housing market. Your home may be repossessed if you do not keep up repayments on your mortgage Source: https://www.propertyreporter.co.uk/first-time-buyer-affordability-at-10-year-high.html

The average cost of moving home in England is now £51,826, the highest in the UK, according to Yopa’s latest Housing Market Affordability Review. It shows the total has risen nearly 11% in a year, driven largely by changes to Stamp Duty. Stamp Duty alone now costs £4,528 on average, more than triple last year’s amount. Conveyancing costs increased 12.5% annually to an average of £1,364, while removal costs increased by 1.3% to £917 on average. Mortgage deposits remain the biggest expense, averaging £43,585. Wales and Scotland follow, with average moving costs of £34,429 and £32,172, respectively, while Northern Ireland remains the cheapest at £31,353, though costs there saw the sharpest annual rise at 13.2%. Your home may be repossessed if you do not keep up repayments on your mortgage. Source: https://theintermediary.co.uk/2025/04/england-boasts-the-highest-moving-cost-at-51826-finds-yopa/

New analysis by Searchland has revealed the most energy-efficient areas in Britain. The study, based on average Energy Performance Certificate (EPC) ratings, saw the City of London and Peterborough top the list with an average EPC score of 76 (C rating), followed by Tower Hamlets, Hackney and a cluster of other London boroughs averaging a C rating. Conversely, several rural and national park areas, such as the Yorkshire Dales and Snowdonia, recorded the lowest energy scores, reflecting the UK’s challenges with older housing stock. Hugh Gibbs of Searchland said improving energy efficiency in older homes is complex, “True progress will depend not just on developers but also on the willingness of homeowners to upgrade their properties.” Source: https://www.propertyreporter.co.uk/where-are-the-most-energy-efficient-areas-for-homebuyers.html

It’s never easy to think about the future without you in it. But asking what would happen if you weren’t here is one of the most important financial questions you can ask. Life insurance can give you peace of mind that, should the worst happen, your loved ones won’t be left struggling. What is life insurance? Put simply, life insurance pays a tax-free cash sum to your chosen beneficiaries if you die during the policy term. Some policies also include terminal illness cover, paying out if you’re diagnosed with a condition that leaves you with less than 12 months to live. Life insurance often becomes particularly relevant at key moments in life, such as buying a home, getting married or starting a family. If you have financial commitments and people who depend on you, it’s worth considering how they’d manage without your income. For young couples with a mortgage, for instance, one partner may not be able to keep up with the payments on their own. Life insurance isn’t just for those with children. It can also help cover funeral costs, settle debts, or even leave a legacy for friends or family. What types of life insurance are available? There are two main types of life insurance. Whole-of-life cover pays out whenever you die, but premiums tend to be higher. Term insurance runs for a set number of years, say, until your children reach adulthood or your mortgage is cleared, and only pays out if you die during that period. Because many people outlive the term, term insurance premiums are generally lower. How much life cover will you need? Think about your mortgage, regular expenses, childcare costs, outstanding debts and anything else your income supports. If your policy is to cover a repayment mortgage, a decreasing term policy, where the pay-out gets smaller as your outstanding mortgage shrinks, can be a more cost-effective option. When should cover start? Life insurance policies are available from age 18, with many providers capping the upper age limit at around 80. The younger and healthier you are, the cheaper your premiums tend to be, so it often pays to take out a policy when you’re in good health. It’s also important to be honest when you apply. Failing to disclose medical conditions, or lifestyle factors like smoking, could result in a claim being rejected later. While the vast majority of life insurance claims are paid, being upfront means you’re fully protected. It begins with a conversation Talking about life insurance may feel daunting, but it’s really about giving you and your family some certainty in uncertain times. It’s a way of financially protecting those you care about most, even if you’re no longer around to do it in person. As with all insurance policies, conditions and exclusions will apply

Life insurance rarely feels like a priority in your twenties or early thirties, particularly if you don’t have children or a mortgage. But over time, it could become the smartest financial decision you make. Buy early A big advantage of buying life insurance early is the cost. Premiums are lower when you’re healthier and statistically less likely to make a claim. A 30-year term policy taken out at 25 will usually be far cheaper than the same policy bought at 45 and your monthly payments will remain fixed for the length of the term. Not just for families Even if you don’t yet have children or a partner who relies on your income, life insurance can still be useful. It can provide peace of mind if the worst happens, knowing that those closest to you won’t be left paying off debts such as student loans, credit cards or a mortgage. As your life changes, your policy can change too, adjusting the amount of cover you need if you have children, change jobs or move up the property ladder. For most people, the earlier you consider life insurance, the more affordable and flexible it can be. While it’s not essential for everyone at a young age, locking in a policy early gives you one less thing to worry about in the future. As with all insurance policies, conditions and exclusions will apply

Did you know that hiding a spare key in case of emergencies could invalidate your home insurance if you suffer a break-in? Most insurance policies require you to take ‘reasonable care’ to keep your home secure. Therefore, if a thief finds and uses a poorly hidden key, your insurer may argue the theft was preventable. Many policies only cover theft after signs of forced entry, meaning even leaving a key with a neighbour could be risky. Remember, burglars will be familiar with all the classic hiding spots – under a doormat, plant pot, or even a fake rock. It’s advisable to check the terms of insurance policies carefully, as not all cover every method of storing a spare key. As with all insurance policies, conditions and exclusions will apply