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What’s happening to the mortgage market?

Thu, 07 May 2026 07:00:05 GMT

The mortgage market is facing uncertainty due to ongoing developments in the Middle East.

Affordability challenges had been easing slightly in recent months - mortgage rates were slowly coming down due to cuts to Bank Rate. In January 2026, the average monthly mortgage payment was 7% lower than the previous year.

However, the recent outbreak of war in Iran has made the short-term outlook much more uncertain. At the start of March, 472 residential mortgage products were taken off the market within a 48-hour period, in response to rising swap rates. This trend continued throughout the month, with a fifth of overall mortgage deals removed from the market by 21 March. First-time buyers have been hit particularly badly – they may notice that rates are higher on low-deposit deals.

Adam French at Moneyfacts commented, “It’s unwelcome news for borrowers, as the prospect of falling mortgage rates has quickly given way to rate rises. How far they could go is now heavily dependent on how global markets and inflation expectations evolve as conflict in the Middle East unfolds.”

We can help you understand how the economic situation affects you and your mortgage – get in touch for support.

Your home may be repossessed if you do not keep up repayments on your mortgage

Sources:

https://www.theguardian.com/business/2026/mar/23/uk-mortgage-interest-rates-markets-bank-of-england-iran-war

https://www.bbc.co.uk/news/articles/c5y7gnkez3lo

https://moneyfactscompare.co.uk/news/mortgages/impact-of-iran-war-on-mortgages/

https://moneyage.co.uk/472-mortgage-products-withdrawn-in-48-hours.php

https://www.rightmove.co.uk/news/articles/property-news/average-monthly-mortgage-payment-down-january

📅 Bank of England Monetary Policy Committee (MPC) Meeting – Tomorrow, 30th April

Wed, 29 Apr 2026 13:06:05 GMT

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Insurance tips for movers and renovators

Tue, 28 Apr 2026 07:00:09 GMT

Moving home or renovating in 2026? Make sure you’re adequately covered.

Before you move, it’s important to check the details of your home contents policy, as exclusions may apply to the removals process. For example, some insurers only cover belongings packed and moved by professionals. Additionally, your home insurance won’t automatically be applicable at your new address, so you will likely need to transfer the policy over (if allowed).

Similarly, if you’re renovating your current home, it’s important to review your existing policies. If your project involves structural changes or new fixtures, you will likely need an extra layer of cover to ensure you’re sufficiently protected if something goes wrong.

As with all insurance policies, conditions and exclusions will apply.

Sources:

https://www.moneysavingexpert.com/insurance/home-insurance/moving-to-new-home/#:~:text=You'll%20need%20to%20have,for%20longer%20than%2030%20days

https://www.renovationplan.co.uk/news-and-insight/why-you-need-renovation-insurance-cover-in-2026/

Make protection a priority

Thu, 23 Apr 2026 07:00:04 GMT

A survey has revealed that homeowners are more likely to plan a new kitchen than seek out protection.

Research found that respondents were more likely to spend money on new furniture (36%), redecorating (26%) or installing a new bathroom or kitchen (25%) than on taking out protection insurance, with only 15% saying it was a priority. However, many mortgage holders expressed concern about their financial security, with 62% saying they are worried they could lose their home if they became too ill to work. More than half (56%) admitted they would struggle to keep up with mortgage repayments after six months without an income.

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.covermagazine.co.uk/news/4524648/protection-ranks-lowest-importance-homebuyers

Rethinking protection for longer lifespans

Tue, 21 Apr 2026 07:00:17 GMT

The average age of the population is getting older, which will likely change the type of protection people need in future.

A report found that by 2050, 27% of people living in advanced economies will be over 65. As longevity increases, the demands placed on insurers - and on individuals - will evolve.

Traditionally, protection products have focused on providing financial safety nets in the event of illness or death, often through income replacement. Longer lifespans mean cover may need to last longer and respond to more complex circumstances. People are working later, building assets over extended careers and supporting family members across multiple generations.

There is also a growing need to consider later-life health risks and the potential cost of care. Protection is no longer just about replacing income for a limited period - it’s about safeguarding financial stability over decades.

Regularly reviewing policies helps ensure cover remains appropriate as responsibilities, health and lifestyles change. As we live longer, protection must adapt - providing resilience, certainty and peace of mind for a longer, more unpredictable journey.

As with all insurance policies, conditions and exclusions will apply.

Sources:

https://www.ftadviser.com/content/8284146a-0a97-4de6-8e8e-52eb26fe51df

Avoid these home insurance mistakes

Thu, 16 Apr 2026 07:00:06 GMT

Don’t accidentally invalidate your home insurance - here are the biggest mistakes that homeowners make and how to avoid them…

Outdated valuations

When taking out buildings insurance, you will need to calculate how much it would cost to rebuild your home if something happened. If you’ve recently undergone renovations, building work or other alterations, the rebuild cost may have changed. If you haven’t notified your insurer about this, you risk leaving your home underinsured.

Missed disclosures

When applying for home insurance, you will need to declare any previous claims so the insurer can ascertain any risks. It’s easy to forget about a claim you made four years ago, but any missed disclosures could invalidate your policy. It’s therefore essential that you go back through your records to ensure you have disclosed all the necessary information.

Auto-renew traps

It might be convenient to let your policy auto-renew, but this can mean that you don’t review your policy. If your circumstances have changed, you might need a different level of cover. For example, if you have a new pet or have bought an expensive gadget, you will need to update your policy accordingly.

As with all insurance policies, conditions and exclusions will apply.

Sources:

https://www.insurancebusinessmag.com/uk/news/property-insurance/report-majority-of-uk-properties-were-underinsured-in-2025-560941.aspx

https://www.aviva.com/newsroom/news-releases/2024/05/10-ways-people-could-accidentally-invalidate-home cover/#:~:text=Not%20declaring%20building%20work%2C%20alterations,renovate%20or%20alter%20a%20property

The UK’s fastest-rising house prices

Tue, 14 Apr 2026 07:00:08 GMT

Research from Rightmove has identified the UK towns that recorded the strongest house price growth last year.

The list was largely dominated by towns in Scotland and the north of England. Hawick in the Scottish Borders saw the biggest annual rise, with prices increasing by 18% in 2025. Durham followed with a 15% increase, while Stannington in Sheffield saw prices grow by 12%.

Across the 50 locations with the fastest-growing house prices, the average property value was £270,711, 26% lower than the national average of £368,031. In fact, 43 of the 50 fastest-growing towns had prices below the national average. This emphasises the growing trend that more affordable areas are experiencing the strongest price growth.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Sources:

https://www.thisismoney.co.uk/money/mortgageshome/article-15501709/Rightmove-names-25-towns-saw-biggest-house-price-rises-2025.html

Life Insurance myths busted

Thu, 09 Apr 2026 07:00:11 GMT

Are you fully informed about life insurance? Here are some myths that still catch people out.

A concerning knowledge gap

According to a survey, only 45% of UK adults have a life insurance policy in place, while 15% don’t know if they have one. This means that over half of Brits risk leaving their loved ones without any financial protection if the worst happened. Moreover, the research highlighted that nearly a fifth (18%) of respondents don’t know what life insurance is. It’s therefore vital to get informed, as some common misconceptions can stop people from taking out vital protection.

It doesn’t have to be expensive

Some people believe that life insurance is ‘too expensive.’ However, the cost of monthly premiums is not ‘one size fits all’ - the price will vary depending on a range of factors, including your age, medical history, policy length and more. For example, decreasing term insurance is usually taken out in conjunction with a mortgage, so the payout reduces over time. It is typically cheaper than level term insurance or whole of life cover, however it will usually only cover the cost of your mortgage (not other bills and living costs). We can help find a deal that suits your budget while protecting what’s important.

Got a medical condition?

Some people think they can’t take out life insurance if they have a pre-existing medical condition. However, it could still be possible. If you have a mild condition that has little effect on your everyday life, you may be able to take out a standard policy. For more severe health conditions, your policy may need to be adapted and your premiums may be higher. In certain high-risk cases, you might need specialist cover. In all instances, it’s important to seek professional advice so you can have peace of mind that you are appropriately insured.

Never too young for protection

You might think you’re too young to need life insurance. However, premiums are typically cheaper at a younger age, so getting cover now may mean paying less than others as you get older. It’s particularly advisable to get protection if you have any financial dependents. You should also consider life insurance if you have significant financial commitments, such as rent or mortgage payments. Getting covered could help your loved ones to stay living in their home in the event of your death.

Here to help

We can help source a policy tailored to your specific needs at a price that works for you. Get it in touch today.

As with all insurance policies, conditions and exclusions will apply.

Sources:

https://www.reassured.co.uk/life-insurance/life-insurance-myths/#:~:text=Life%20insurance%20is%20too%20expensive,ability%20to%20secure%20life%20insurance%20%C2%BB

https://www.uk-lifeinsurance.com/blog/life-insurance-in-the-uk-index-2025/

Is your home still properly insured?

Tue, 07 Apr 2026 07:00:06 GMT

Underinsurance is becoming an increasingly common problem for homeowners, making it more important than ever to check that your property is properly protected.

Concerning statistics highlight the underinsurance problem

Recent data shows that in 2025, 70% of UK properties were insured for less than their true rebuild cost. In fact, the average home is only covered for 66% of the amount required to completely rebuild it. This means that, in the event of a major claim, many policyholders could face reduced payouts, leaving them to cover a significant shortfall themselves. While this marks a slight improvement compared with 2020-2022 (when underinsurance affected as many as 80% of UK properties), underinsurance is still a prevalent issue.

The ‘average clause’ explained

A rise in extreme weather has highlighted the risks of leaving your property underinsured. Homeowners have made claims for fires, flooding and escape of water, only to discover that their cover was insufficient. In these circumstances, an insurer can apply the ‘average clause’ - this reduces the claim settlement in proportion to the level of the policyholder’s underinsurance. For example, if a property is covered for 66% of its true rebuild cost, the insurer might only cover 66% of the claim.

Misinformation causes underinsurance

One of the main causes of underinsurance is a lack of understanding about how to calculate rebuild costs. According to the research, many policyholders mistakenly insure their homes based on the property’s market value, which reflects what their home would sell for. However, the rebuild cost is the price of reconstructing the whole property from scratch. Therefore, the amount could be significantly more as it must include materials, labour, debris removal and more.

Review regularly

Outdated valuations are another key driver of underinsurance. Building and labour costs have risen in recent years, so rebuild costs are estimated to be 35% to 40% higher than in 2020. If your policy has not been reviewed recently, your cover might not reflect the true cost of reconstructing your home today.

Take action now

Reviewing your home insurance doesn’t have to be complicated. Check your rebuild cost and ensure your policy reflects any home improvements to help ensure you have the right level of cover. If you’re unsure whether your insurance is still adequate, now is the time to seek professional advice. Get in touch to make sure you’re fully protected and avoid an unwelcome surprise if you ever need to make a claim.

As with all insurance policies, conditions and exclusions will apply.

Sources:

https://www.covermagazine.co.uk/news/4524648/protection-ranks-lowest-importance-homebuyers

https://www.insurancebusinessmag.com/uk/news/property-insurance/report-majority-of-uk-properties-were-underinsured-in-2025-560941.aspx

Why Are UK Mortgage Rates Rising? A Guide for Homeowners in Brighton & Hove

Thu, 02 Apr 2026 07:00:13 GMT

If you’ve noticed mortgage rates creeping up recently, you’re not alone - and you’re not imagining it. Many homeowners across Brighton & Hove are asking the same question: why are rates increasing, especially when the Bank of England hasn’t made huge changes?

Let’s break it down.

�� How global events affect your mortgage

It might feel strange, but events happening far away, like conflict in the Middle East, can directly impact your mortgage rate here in the UK.

When there’s uncertainty in the world (such as war), financial markets become nervous. Investors look for “safe places” to put their money, and this can push up the cost for banks to borrow money. When it costs banks more, they pass that cost on through higher mortgage rates.

�� Fixed rates aren’t based on the Bank of England base rate

A common misunderstanding is that fixed mortgage rates follow the Bank of England base rate. In reality, they don’t work that way.

Instead, fixed rates are mainly based on something called swap rates .

�� What are swap rates?

Think of swap rates like a prediction tool.

They represent what financial markets think interest rates will be in the future. Banks use these predictions to “lock in” their own borrowing costs when offering fixed-rate mortgages.

So:

If markets expect rates to rise → swap rates go up
If swap rates go up → fixed mortgage rates usually go up

Even if the Bank of England hasn’t changed anything yet, mortgage rates can still increase because lenders are reacting to what might happen next.

�� Why this matters locally in Brighton & Hove

In a fast-moving property market like Brighton & Hove, even small rate increases can affect affordability - whether you’re buying your first home, moving, or remortgaging.

For example:

Higher rates = higher monthly payments
Buyers may need to adjust budgets
Remortgaging deals may not be as low as before

⏳ Rates are changing daily

One of the biggest challenges right now is how quickly things are moving.

Mortgage rates can change daily - sometimes even multiple times a week. That’s why timing has never been more important.

We always aim to secure the best possible rate for you, but availability can shift quickly depending on market conditions.

⚠️ Is your deal ending soon?

If your current mortgage rate is due to finish within the next 6 months , now is the time to act.

Waiting could mean:

Missing out on a better rate available today
Facing higher costs later if rates continue to rise

�� We’re here to help

We understand that this can feel confusing and even stressful, especially when global events are outside your control.

Our role is simple:

Explain everything clearly
Monitor the market daily
Help you secure the most suitable deal available
Support you every step of the way

�� Get in touch today

If your rate is ending soon, or you just want to understand your options, don’t wait.

We’re here to guide and support you through these changing times. Making sure you feel confident and informed about your mortgage decisions.

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

The Rise Of Ultra-Long Mortgages

Tue, 31 Mar 2026 07:00:04 GMT

Data from the Financial Conduct Authority (FCA) indicates that more borrowers are opting for ultra-long mortgages in an effort to manage rising housing costs.

According to the analysis, in 2024 there were 116,276 mortgages taken out with repayment periods of 35 years or more. This is over three times the number sold in 2020, highlighting how borrowing conditions have changed significantly in recent years. As affordability challenges persist for buyers, longer mortgage terms help to reduce the cost of monthly repayments. While this can make finances easier to manage in the short term, it is more expensive in the long run.

The longer a mortgage, the more interest is accrued, meaning borrowers could end up paying substantially more for their home over time. Plus, the average age of first-time buyers has risen to 34, so many people could have mortgages that extend into retirement, which can create challenges for long-term financial planning.

The cost of longer mortgages

Calculations by Compare the Market highlights the cost of ultra-long mortgages. Using the average UK house price of £293,000 and a 10% deposit, the figures show how interest costs can quickly add up over time. Based on a 36-year mortgage, the difference between a two-year fixed rate of 4.32% and a slightly lower rate of 4.03% equates to a difference of £20,197 in additional interest repayments. This shows that even small differences in interest rates, when combined with very long mortgage terms, can significantly increase the total cost of borrowing.

For borrowers considering an ultra-long mortgage, it’s therefore important to weigh the short-term benefit of lower monthly payments against the long-term cost. Make sure to review options regularly as circumstances and interest rates change.

What we know about 2025

Data for the first nine months of 2025 shows that London was the most popular area to take out ultra-long mortgages. During this period, 12,554 mortgages were taken out with terms over 35 years. This is slightly lower than the 14,455 recorded over the same period in 2024, but is higher than the 10,676 seen in 2023. After London, the South West saw the most ultra-long mortgages (12,457), followed by the East of England (11,181) and the South East (10,373). These are the regions where houses are most expensive, underlining the link between higher property prices and the growing use of extended mortgage terms.

Talk to us

If you’re hoping to make your property dreams come true this year, get in touch. We can talk through your mortgage options and help find a suitable option that will work for you, both now and in the future.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Sources:

https://www.mortgagestrategy.co.uk/news/borrowers-taking-out-ultra-long-mortgages-more-than-triples-since-2020-compare-the-market/

Don't Fall Down The Protection Gap

Thu, 26 Mar 2026 08:00:03 GMT

Do you know what your home insurance covers? It’s time to review your policy and check that you’re adequately protected.

A survey conducted by YouGov has found that many UK adults aren’t sure what their home insurance covers. This uncertainty could prove costly if the unexpected happens and they realise they are underinsured. In this article, we clear up some common misconceptions about home insurance.

Your fridge/freezer contents

The winter months can exacerbate any maintenance issues in your home, and the extreme weather can cause power cuts. If your fridge or freezer breaks down due to a blown fuse or local power outage, it can be tempting to throw everything away immediately. But most people are unaware that spoiled food is often covered under contents insurance. If your freezer is broken long enough for food to spoil, take a photograph of its contents before disposing of them. Your insurer will then estimate the value of the spoiled goods.

Burglaries

In the winter, homes may be more susceptible to break-ins as burglars take the opportunity to act under the cover of darkness. If you experience a break-in, buildings insurance typically covers you for any damage to the home, such as broken windows or damage to doors. Meanwhile, contents insurance generally covers you for any items that are stolen; however, if you have high value items (such as jewellery or bikes), you may need specialist cover.

Lost keys

Misplacing your house or car keys can be stressful and inconvenient, particularly if you need to call out an emergency locksmith. Many people don’t realise that some insurers will cover the cost of replacing lost keys. However, policies can vary, so it’s important to check first.

Accidental damage

Accidents can easily happen around the house, especially if you have children or pets! Accidental damage is an optional add-on - it can protect you against one-off incidents which cause damage to your home, such as a football smashing the window. It’s easy to forget if you’ve already purchased this cover, so now is a good time to review.

The importance of advice

According to the YouGov research, a third of those who purchased their home insurance through a price comparison site in the last year are unclear what their policy covers. This highlights the importance of seeking advice when insuring your home and personal belongings. You don’t have to navigate the small print alone - we will clearly explain the policy terms, so you know exactly when you are, and aren’t, insured.

As with all insurance policies, conditions and exclusions will apply.

Sources:

https://protectionreporter.co.uk/tis-the-season-to-flag-home-protection-gaps.html

Protecting Your Home In Extreme Weather

Tue, 24 Mar 2026 08:00:04 GMT

The winters are getting colder and stormier, so it’s important to take appropriate steps to protect your home. Here are some top tips.

Review your insurance

The most important step you can take is to get adequate cover. According to the ABI, in 2024 UK insurers paid out a record £585m for weather-related damage to homes and possessions. This shows that an increasing number of homeowners are relying on their insurance policy to protect them in extreme weather.

Watch out for storm hazards

If a storm is coming, make sure to safely store any loose objects, such as garden furniture and trampolines. Fences and gates are not always insured against storm damage, so make sure they are secured too.

Consider flood risks

You can check online if your home is at risk of flooding. There are helplines you can contact during flood emergencies, such as Floodline. If heavy rainfall is on the way, check your gutter - if your drainpipes are clogged, this could cause a leak.

Check your boiler

Boiler breakdowns can occur during cold snaps and the cost of repair is not always included in standard home insurance policies. To avoid getting caught out, it’s important to get your boiler serviced annually, or you can purchase additional cover.

As with all insurance policies, conditions and exclusions will apply.

Sources:

https://www.abi.org.uk/news/news-articles/2025/2/more-action-needed-to-protect-properties-as-adverse-weather-takes-record-toll-on-insurance-claims-in-2024/

A Recap Of 2025 Housing Reforms

Thu, 19 Mar 2026 08:00:11 GMT

Last year saw significant housing reforms for renters and homebuyers – here’s a recap of what you need to know.

Change to renters’ rights

The Renters’ Rights Act received Royal Assent in October 2025 and will come into force in three phrases this year. The initial phase of the rollout in May will include the much-awaited end to Section 21 ‘no fault’ evictions in England. Plus, all fixed term tenancies will automatically convert to periodic tenancies.

Scotland rent controls

Scotland has also seen reforms for renters. Local authorities will be able to designate Rent Control Areas, where there will be a cap on how much landlords can raise rent. Plus, councils will be required to act sooner to prevent homelessness.

Stamp Duty changes

In April 2025, Stamp Duty thresholds reverted to their higher level in England and Northern Ireland. First-time buyers now have to pay the tax on homes above £300,000 and other buyers will be charged on properties over £125,000.

Reforms in Wales

Legislation is underway to improve the safety of tall buildings and houses in multiple occupation. Also, the Homelessness and Social Housing Allocation (Wales) Bill plans to improve access to housing support.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Sources:

https://www.propertyreporter.co.uk/what-2025-housing-reforms-mean-for-renters-and-homebuyers-across-the-uk.html

2025 House Sales Show Some Promise

Tue, 17 Mar 2026 08:00:08 GMT

End of year statistics for 2025 offer some reasons to be optimistic about the housing market.

According to Zoopla, house sales for 2025 hit 1.2 million, the highest level for three years. First-time buyers showed growing confidence as they accounted for 39% of transactions last year.

Meanwhile, house prices lagged last year, with the average house valued at £270,300 at the end of 2025. This is up 1.1% on the previous year but is lower than the 10-year average of 3.8% growth. Zoopla expects prices to rise by 1.5% in 2026 while Rightmove’s outlook is more positive, at 2%.

Richard Donnell as Zoopla commented, “We expect a stronger 2026 as buyers return to the market, with more homes for sale.”

Your home may be repossessed if you do not keep up repayments on your mortgage.

Sources:

https://www.mortgagestrategy.co.uk/news/house-sales-hit-three-year-high-says-zoopla/

Are Your Contents Covered?

Thu, 12 Mar 2026 08:00:05 GMT

Do you know what your belongings are really worth? It can be easy to underestimate their value, which could leave you underinsured.

Home contents insurance protects your possessions and furniture against theft, fire and other unfortunate events. When taking out cover, you are usually asked to estimate how much it would cost to replace all the contents in your home. But when was the last time you took stock and assessed this? If you’ve recently bought new gadgets or received an expensive Christmas gift, you may need a higher level of cover. Equally, if you have sold some items, you may be paying for more cover than you now need. A professional adviser can help ensure you have taken into account all your belongings.

As with all insurance policies, conditions and exclusions will apply.

Putting Life Insurance In Trust

Tue, 10 Mar 2026 08:00:04 GMT

Recent tax changes have prompted some to reevaluate their reliance on pensions for wealth planning. Amidst this uncertainty, life insurance could provide some peace of mind for those looking to protect their family’s future.

Salary sacrifice changes

In the Autumn Budget 2025, Chancellor Rachel Reeves announced changes to salary sacrifice for pensions from April 2029. Currently, an employee can agree with their employer to give up part of their salary and, in return, their employer will pay the same amount into their pension. At the moment, this employer pension contribution is exempt from National Insurance Contributions (NICs) for both the employer and the employee. Salary sacrifice has therefore often been seen as a reliable way to reduce tax liabilities while boosting retirement savings. However, from 6 April 2029, NICs will apply on contributions above £2,000 per year.

Unused pension funds

As part of the Autumn Budget 2024, it was announced that most unused pension funds will fall within the value of a person’s estate for Inheritance Tax (IHT) purposes. This measure was introduced because the government identified that many savers were using their pension pot to transfer wealth instead of funding their retirement. The changes will come into effect on 6 April 2027, so those who had incorporated their unused pension funds into their tax planning are likely to be reconsidering their options.

Benefits of life insurance

The above tax measures have highlighted the precarity of using pensions for intergenerational planning. Some families may therefore be turning to life insurance to offer some certainty.

Life insurance provides financial support to your loved ones when you die. You can choose the level of cover you need based on a range of factors including your dependents, salary, mortgage and other bills.

Writing your life insurance policy in trust ensures that the payout is not considered as part of your estate, so it is not subject to IHT. Claims can be paid before probate is granted, enabling your beneficiaries to access the money swiftly. It is therefore a crucial way of safeguarding your family’s future.

Time to revisit your protection requirements?

We can help you source a life insurance policy that is tailored to your specific needs and family circumstances. There are a range of trusts to choose from, and we can advise on the most appropriate option, ensuring your cover remains effective, tax-efficient and aligned with your wider financial plan.

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.ftadviser.com/content/a724d36a-6636-4b53-bcd2-5d354ef62fac

Life Insurance Vs Income Protection

Thu, 05 Mar 2026 08:00:00 GMT

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/

Self Employed? Make Sure You're Covered

Tue, 03 Mar 2026 08:00:03 GMT

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.

Budget Impact On Landlords

Thu, 26 Feb 2026 08:00:04 GMT

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/

Brits Let Their Insurance Auto Renew

Tue, 24 Feb 2026 08:00:08 GMT

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

Get Mortgage Ready This Year

Thu, 19 Feb 2026 08:00:05 GMT

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.

Boost Your Financial Confidence

Tue, 17 Feb 2026 08:00:01 GMT

New research shows that a quarter of consumers are not confident in their family’s financial resilience.

A survey by The Exeter has found that nearly a quarter (23%) of UK adults are unsure if their family would manage financially if they unexpectedly died. Just over a third (35%) think that their family could cope temporarily, while only 22% are certain that their loved ones would be fully protected if the worst happened.

Age and gender differences

The research highlighted a gap in confidence between the genders, with men significantly more confident (67%) about their family’s financial resilience than women (49%). There is a clear generational difference too - those aged 45-54 are the least assured, with a third of this age group unsure about their family’s financial security. This could reflect the increasing pressure felt by the ‘sandwich generation’ – middle-aged adults caring for both their children and their ageing parents.

Boost your confidence

How confident do you feel about your family’s financial resilience? With the right cover in place, you can feel certain that your loved ones would have the support they need if you were no longer there to support them.

As with all insurance policies, conditions and exclusions will apply

Sources:

https://www.the-exeter.com/news/just-one-in-five-uk-adults-very-confident-their-family-would-be-financially-secure-if-the-unexpected-happened/

UK Adults Prefer To Seek Advice

Thu, 12 Feb 2026 08:00:06 GMT

Recent research suggests that many UK adults would prefer to seek professional advice when buying home insurance instead of navigating the process alone.

In a survey conducted by YouGov, nearly half (47%) of respondents said they would want to seek guidance when choosing a home insurance policy. Meanwhile, only 15% did not have any interest in accessing professional advice. This suggests that, on balance, there is a desire to be informed and supported when protecting what’s important.

Why seek advice?

According to the report, having peace of mind is the primary motivator behind seeking advice, with 35% of UK adults saying this was important to them. Meanwhile, 28% believed that speaking to an adviser would help them find a policy better tailored to their needs. This is understandable as exclusions, limits and optional extras can easily be overlooked without expert advice.

The prevalence of ‘cover anxiety’

The survey indicated growing anxiety around purchasing insurance online, with nearly a quarter (24%) expressing doubts about sourcing a policy in this way. Interestingly, this anxiety was even higher (33%) among those who had used a price comparison site within the last year.

This so-called ‘cover anxiety’ becomes more prevalent among parents – 42% of households with three or more children weren’t sure if their cover was right for them. This suggests that busy parents may be more likely to make a quick decision without properly consulting the policy details, potentially leaving gaps in their cover.

Advice pays off

It is encouraging to see that many UK adults seem to recognise the value of advice. Over half (56%) of respondents said they would be willing to pay more to ensure that their policy genuinely meets their needs.

Expert opinion

Louise Pengelly, proposition director at Paymentshield, commented on the findings: “Peace of mind is worth a lot and for many consumers, it’s valued more highly than the cost of the policy itself, as long as they can trust it will protect them when needed.” She added, “What’s especially encouraging is the number of people who say they want advice. This research shows there’s a large, receptive audience ready to engage with advisers, and it clearly challenges the idea that clients aren’t interested in talking about insurance.”

Get in touch

Inspired to seek advice? You don’t have to navigate the insurance process alone. We can help source cover that works for you and your budget.

As with all insurance policies, conditions and exclusions will apply.

Sources:

https://protectionreporter.co.uk/peace-of-mind-driving-demand-for-guidance-when-buying-home-insurance.html

Time For A Protection Review

Tue, 10 Feb 2026 08:00:01 GMT

With a new year upon us, now is the perfect time to take stock and review your protection policies.

A lot can happen in a year and, as circumstances change, it’s essential to make sure your cover still meets your needs. Here are some examples of when you should review your insurance:

Marriage or civil partnership

We know that there are already lots of things to think about when planning a wedding, but don’t let your protection slip through the net. Getting married can significantly change your financial circumstances and responsibilities. You and your spouse should therefore ensure that your protection reflects this lifestyle change, so that you are both covered in difficult times.

Divorce

On the other hand, if you are going through a separation, it’s important to let your insurer know. Depending on your situation, you may decide to remove certain people as beneficiaries. If you had a joint life insurance policy with your ex-spouse, you may also wish to split the policy (if possible).

Having children or other dependents

Welcoming a child is an exciting time for a family, but it also brings greater financial responsibilities. You should therefore update your policy to ensure that any new offspring are accounted for. Similarly, if you have taken on caring responsibilities for another family member (e.g. an unwell parent), make sure they would still be financially supported if something happened to you.

Moving home

When buying a home with a mortgage, most lenders require you to take out home insurance. We strongly recommend that you also consider life insurance to ensure that your family could keep up with mortgage repayments if the worst happens. If you already have a policy in place, you will need to notify your insurer about your move.

Change in income

If your employment status has changed, you may need to adjust your policy. Perhaps you’ve recently got a new job, a promotion or been made redundant – these will all impact the level of cover you require. Also, if you’ve become self-employed, you will need income protection in case you are unable to work due to illness or injury.

Health changes

If you have been diagnosed with a health condition, check if your insurance needs adjusting – you may need an extra layer of cover, depending on your specific condition. If you don’t notify your insurer, you could risk invalidating your policy.

Get in touch

Even if you haven’t experienced any significant life events, an annual review is vital as there may be new products or better deals on the market. Get in touch with us to ensure your protection is right for you.

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.mortgageadvicebureau.com/protection/is-your-protection-policy-still-fit-for-purpose/

https://the-exeter.com/customer/life-insurance/change-in-circumstances-when-should-you-review-your-cover/#:~:text=Increased%20financial%20responsibilities%20can%20require%20higher%20cover.&text=A%20new%20job%2C%20redundancy%2C%20or,can%20affect%20your%20protection%20needs.&text=Whilst%20the%20policy%20covers%20death,make%20sure%20it%27s%20still%20suitable.

Too Many Parents Overlook Protection

Thu, 05 Feb 2026 08:00:03 GMT

Too many parents overlook protection

New data has found that many parents are overlooking protection when purchasing homes.

Only 19% of parents actively planned for protection cover when buying their home. Despite this, the average parent thought that, if they suddenly lost their income, they would only be able to keep up with mortgage repayments for four and a half months. Also, 43% of those with children said they would like some form of insurance to help them maintain their standard of living if they were unable to work. That’s where protection comes in – the right cover can provide peace of mind that you and your family would be financially supported during difficult times.

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.moneymarketing.co.uk/news/vitality-urge-parents-to-think-beyond-mortgage-and-safeguard-stability/

https://www.ftadviser.com/content/8d7135ee-7e94-4c64-97cd-ff78a0be41e7

2026 Property Market Outlook

Tue, 03 Feb 2026 08:00:07 GMT

The start of a new year often prompts people to review their plans and for many, that might include a resolution to move home. As market conditions continue to evolve, prospective buyers and sellers might be wondering what will happen with property prices in 2026 and beyond.

The latest five-year outlook from Savills provides a useful insight into what’s to come, including some forecasts for house prices between now and 2030. The report predicts that house price growth will be slow in the near future, with projected growth of 2.0% in 2026. This subdued performance is due to ongoing economic uncertainty and weak buyer demand.

Looking further ahead, the landscape becomes more positive. Interest rates and mortgage costs are expected to ease, which should boost activity in the housing market. Savills anticipates annual house price growth of 4% in 2027 and 5% in 2028, before peaking at 5.5% in 2029. Over the five-year period, property values are expected to increase by 22.2%.

Regional outlook

The report indicates that regional differences in house price growth are forecast to persist in the coming years. It is expected that the North East and Yorkshire and the Humber will record the strongest performance between now and 2030, with prices expected to increase by 28.8% in both areas. On the other hand, London (13.6%) and the South East (17.0%) are likely to see much weaker growth as affordability challenges continue to limit house price growth.

Improving conditions for FTBs

Savills noted that, over the last year, first-time buyers (FTBs) have been a driving force in the housing market. In recent years, it has been notoriously difficult to get onto the property ladder, so it is promising to see that FTBs might be growing in confidence. In fact, new homeowners are the only buyer group to record activity above pre-pandemic levels. Interestingly, FTBs are the most active group in the capital, despite it being the most expensive place to buy in the UK.

Challenges for upsizers

Conditions are a little more challenging for ‘second steppers’ looking to move on from their first home. Weak growth in flat values means that this group of sellers is less likely to make a good profit on the sale of their home. To fund the purchase of a bigger property, many second-steppers are therefore relying on their initial deposit as their primary source of equity. As a result, the number of home movers is well below the levels seen in 2017-19. However, activity is expected to pick up as interest rates fall and house price growth strengthens.

We can help you navigate the changing property market. With the right advice, you can turn your property dreams into a reality. Get in touch today.

Your home may be repossessed if you do not keep up repayments on your mortgage

Sources:

https://www.thisismoney.co.uk/money/mortgageshome/article-15256621/House-prices-rise-22-2-five-years-adding-80-000-typical-value-says-Savills.html

https://www.savills.co.uk/research_articles/229130/382244-0

Many Overestimate Cost Of Cover

Thu, 29 Jan 2026 08:00:05 GMT

New research suggests that many UK adults significantly overestimate the cost of life insurance.

According to a recent survey from L&G, respondents believe that life insurance typically costs £79.50 per month. In reality, the average policy was £27.95 in 2024, meaning that people are overestimating the cost of cover by an average of 184%. This substantial gap highlights the lack of public knowledge about the true price of insurance.

Misconceptions about cost

The report revealed that the biggest barrier to insurance was the cost, with 27% believing that it is too expensive. But the findings suggests that many people may be basing their decisions on inaccurate assumptions. Perhaps if more UK adults knew the real cost of life insurance, they would feel confident enough to take out protection.

The attitudes of different age groups

The research also highlighted differing opinions depending on age group and region. Brighton residents aged 45-54 were the most concerned about the price of life insurance. Younger adults shared similar worries; 18–24-year-olds also viewed life insurance as ‘too expensive’, despite this group being particularly engaged with their finances, reviewing them around 35 times a year on average. Motivation is also a barrier among younger generations, with 24% saying that they don’t have plans to take out life cover. Meanwhile, 13% of respondents said they ‘haven’t had time to look into it’.

Don’t wait for big milestones

Previous research from L&G found that many adults are waiting to reach key milestones before taking out products such as life insurance. However, with people getting married and buying houses later in life, many could be delaying having important conversations about financial security.

Life insurance is not just applicable to those who have experienced a major life event. If you rent a property, have you considered how others in your household would keep up with payments if you were no longer around? Or if you have other dependents who rely on you financially, such as an unwell family member, it’s important to get cover.

Don’t put it off

Securing life insurance provides long-term peace of mind that your loved ones will be financially supported at a difficult time. It’s understandable that younger adults may not want to think about what will happen in the event of their death. However, getting protection now could result in cheaper premiums in the long run, as it is generally more expensive to take out a policy when you’re older. We can help you source a policy that fits your budget and meets your specific needs.

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/uk-adults-overestimate-life-insurance-costs-by-184.html

Avoid Making A Claim This Winter

Tue, 27 Jan 2026 08:00:02 GMT

In 2024, insurers paid out £585m in insurance claims for weather-related damage. Here’s how to prepare your home for winter so you can minimise your chances of making a claim.

In the colder months, there are many reasons why you might need to make a claim on your home insurance policy. While you can’t completely stop damage from happening, there are precautionary measures you can take to reduce the risk.

Common claims in winter

Water pipes can freeze over, resulting in water leaks or burst pipes. Make sure to get your boiler serviced annually and cover exposed pipes so they stay insulated. It’s important your house doesn’t get too cold, especially if you’re going away - if you have a smart thermostat, the anti-frost setting can help with this.

Winter storms are becoming increasingly common due to climate change. Remember to secure your garden furniture and fences so they don’t blow away. Clear your gutters, check for any loose roof tiles and trim any trees and branches.

You may think that fire is less of a hazard when it’s cold. But heaters, candles and Christmas lights could all pose a risk if left unattended. Ensure that any electrical items are turned off overnight and test your smoke alarm regularly.

As with all insurance policies, conditions and exclusions will apply

Sources:

https://www.abi.org.uk/news/news-articles/2025/2/more-action-needed-to-protect-properties-as-adverse-weather-takes-record-toll-on-insurance-claims-in-2024/

https://www.tescoinsurance.com/home-insurance/guides/prepare-your-home-for-winter

Manual Workers Missing Out On Protection

Thu, 22 Jan 2026 08:00:05 GMT

Research has highlighted a significant protection gap among manual workers in the UK.

Almost a quarter (23%) of manual workers believe they are likely to experience an accident at work within the next three years, higher than the national average of 19%. But this demographic is one of the least insured groups – only 4% have income protection in place and 1% have accident-only income protection.

Despite the occupational hazards, 36% of manual workers have not considered how they would cope financially if they had a non-fatal accident. A quarter (24%) wouldn’t know what to do in this situation – this is notably higher than the national average of 15%, therefore indicating a knowledge gap within this occupation.

As with all insurance policies, conditions and exclusions will apply

Sources:

https://protectionreporter.co.uk/mind-the-gap-why-manual-workers-are-falling-through-the-cracks-in-income-protection.html

Borrowers Favour Shorter Mortgage Terms

Tue, 20 Jan 2026 08:00:01 GMT

Data from the Bank of England shows that UK borrowers are currently favouring two-year fixed-rate deals.

In Q2 of this year, half of new mortgages were two-year deals, with only 35% opting for five-year terms. Borrowers are probably hoping to remortgage to a cheaper deal if Bank Rate keeps falling over the next two years. This marks a change in attitude since 2022 - interest rates were beginning to rise, so buyers were hoping to keep mortgage costs low by choosing a five-year fixed deal.

A longer mortgage deal is still worth considering, despite hopes that interest rates will ease in the coming years. Analysts do not anticipate mortgage rates to fall to the record lows seen in 2021; instead, they expect that mortgage rates will settle at a higher level, potentially around 3.5%. Also, potential cuts to Bank Rate are taken into consideration when pricing fixed rate mortgages, so some experts believe that current rates are the best that we will get for a while.

Deciding on your next move? It’s essential to seek advice so you can make an informed decision about the mortgage deal that’s right for you.

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.msn.com/en-gb/news/other/half-of-mortgage-borrowers-fix-for-two-years-are-they-being-too-optimistic-about-rate-cuts/ar-AA1OWSr5

https://www.thisismoney.co.uk/money/mortgageshome/article-15128641/HALF-mortgage-borrowers-fix-two-years-optimistic-rate-cuts.html

What Buyers Are Looking For

Thu, 15 Jan 2026 08:00:09 GMT

A survey from LRG has revealed the three most influential factors when buying a property, excluding price and location.

Updated kitchens and bathrooms were the important features, with 77% of respondents citing these as key influencers. Meanwhile, an attractive garden (55%) was more favourable than exterior presentation (23%), suggesting that kerb appeal is currently less of a priority among buyers. But presentation inside the home does seem to matter, with 49% of respondents citing cleanliness as a key influence. Bold interior colour schemes were the bottom of the priority list, with only 4% looking for this in a potential home. Kevin Shaw at LRG commented, “Buyers are clearly telling us that a spotless, well-maintained property can be highly persuasive.”

Sources:

https://www.propertyreporter.co.uk/homebuyers-prioritise-upgraded-kitchens-and-bathrooms-over-kerb-appeal-says-lrg.html

UK Adults Aren't Sufficiently Protected

Tue, 13 Jan 2026 08:00:05 GMT

A survey has found that 30% of UK households would need to sell their family home if their partner or co-owner were to die unexpectedly.

Affording mortgage repayments was the biggest financial worry in the event of an unexpected death, with 27% saying this would be their primary concern. Despite this, 60% of borrowers don’t have life insurance that covers their mortgage, leaving them without a safety net at a time when they may need it most. Moreover, 80% don’t have any savings in case of a financial emergency. Many UK households would therefore be in a precarious financial position if they experienced an unexpected bereavement.

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

Sources:

https://protectionreporter.co.uk/uk-households-unprepared-for-unexpected-bereavement-as-30-would-need-to-sell-the-family-home.html

Predictions For House Price Growth

Thu, 08 Jan 2026 08:00:06 GMT

Savills has published its latest five-year outlook for the UK housing market, including predictions for house price growth between now and 2030.

The report predicts that house price growth will be subdued in the short term, with the average home expected to rise in value by just 1.0% in 2025 and 2.0% in 2026. This slow pace is due to ongoing uncertainty about the economy and weak demand from buyers.

However, the landscape is expected to gradually improve as interest and mortgage rates ease. Savills predicts house price growth of 4% in 2027 and 5% in 2028, with a peak of 5.5% in 2029. Across the five-year period, property values are anticipated to rise by a total of 22.2%.

Regional forecasts

Regional variations in house price growth are expected to persist. The strongest growth is forecast in the North East, and Yorkshire and the Humber, where prices are predicted to rise by 28.8% by 2030. On the other hand, weaker growth is expected in London and the South of England, where houses are less affordable. In the capital, home values are only expected to increase by 13.6% over the next five years.

Need support navigating the changing property market in the coming years? Contact us for advice.

Your home may be repossessed if you do not keep up repayments on your mortgage

Sources:

https://www.thisismoney.co.uk/money/mortgageshome/article-15256621/House-prices-rise-22-2-five-years-adding-80-000-typical-value-says-Savills.html

Have You Protected Your Income?

Tue, 06 Jan 2026 08:00:00 GMT

A report has revealed that only a quarter of working adults in the UK have an income protection (IP) policy.

According to research from LV, only 27% of the working population have a financial safety net to protect their income if they are unable to work due to illness or injury. Despite this, half of those surveyed said they would feel more financially resilient if they had appropriate IP cover.

The most financially vulnerable group

Interestingly, the survey found that couples are the most likely to be financially vulnerable, with 45% relying on both partners’ incomes to cover monthly expenses. This is more prevalent among the younger generations, as 70% of working couples aged 18-24 depend on both salaries to keep up with monthly bills.

Limited savings increase vulnerability

The average working adult has three people who rely on them financially. But many survey respondents had a limited savings pot. A third have under £5k in savings, nearly a quarter have less than £1k and one in ten have no savings at all. This is particularly worrying considering that household debt reached an average of £20,640 in 2023-24.

Don’t leave it to chance – we can help you source the right cover for your circumstances.

As with all insurance policies, conditions and exclusions will apply

Sources:

https://protectionreporter.co.uk/lv-finds-only-27-of-working-adults-in-the-uk-have-ip-policies.html

Renovation Over Relocation

Tue, 23 Dec 2025 08:00:02 GMT

Millions of UK homeowners are choosing to renovate their existing home instead of moving.

In England and Wales, about 1.7 million homes (one in 15 properties) have undergone significant renovation work. These homes are marked with ‘official improvement indicators’, showing that they have had major structural changes, such as an extension or loft conversion. Legally, Council Tax cannot be increased on homes with improvement indicators until the property is sold or there is a general revaluation of all domestic properties.

The growing preference for renovation over relocation is likely due to the rising costs associated with moving home, including Stamp Duty charges, mortgage rates and property prices.

Your home may be repossessed if you do not keep up repayments on your mortgage

Sources:

https://www.msn.com/en-za/news/other/data-millions-of-brits-renovate-homes-rather-than-move-to-avoid-costs/ar-AA1MzVrw

Best Commuter Towns Revealed

Thu, 18 Dec 2025 08:00:07 GMT

Research has revealed the best UK commuter towns, offering lower house prices whilst being in proximity to major cities.

Remote working became the ‘new normal’ during the pandemic, but now three-quarters (76%) of employees are back working in the office at least three days a week. Many people can’t afford to live in London, where the average house price is £588,300. Peterborough was ranked the best commuter town near the capital; it’s a 50-minute train to King’s Cross and the typical home costs £238,800.

In Edinburgh, the average property costs £287,110; however, Wishaw is located 45 minutes away by train and offers lower prices of £111,670. In Cardiff, homes are typically £280,760, but in New Tredegar, the top commuter town, properties are less than half the price at £108,600.

Sources:

https://www.zoopla.co.uk/discover/property-news/best-commuter-towns/

More FTBs Using LISAs To Buy Home

Tue, 16 Dec 2025 08:00:01 GMT

Data shows that the number of people buying a home with a Lifetime ISA (known as LISA) increased in the 2024/25 tax year.

According to the statistics, 82,750 account holders withdrew money from their LISA to buy their first home, which is about 30,500 more than in the previous tax year. Also, the average withdrawal for a property purchase increased by around £857 to £15,782 in 2024/25. The increase is likely due to FTBs rushing to complete their transaction before the stamp duty changes came into effect in April 2025.

More incur withdrawal charges

While many are using LISAs for their intended use, there are some account holders who are paying the price for dipping into their savings. Money can be withdrawn from a LISA when buying your first home (costing £450,000 or less), when you are aged 60 or over, or if you are terminally ill (with less than 12 months to live). If you withdraw funds for another reason, there is a charge of 25%. In the year 2024/25, there was £102m in LISA withdrawal charges, up from £75.3m the year before.

It's important to explore alternative options before making an unauthorised withdrawal from your LISA.

Your home may be repossessed if you do not keep up repayments on your mortgage

Sources:

https://uk.finance.yahoo.com/news/lifetime-isa-savers-clobbered-102-104936374.html?guccounter=1

First Time Buyers Prioritise Forever Homes

Thu, 11 Dec 2025 08:00:04 GMT

New data indicates that first-time buyers (FTBs) are taking out longer mortgages to help them move straight into their ‘forever home’.

In August, a third (33.5%) of FTBs bought a semi-detached property, up 1.7% when compared with the same month in 2024. Meanwhile, only 19% purchased a flat, representing a 2.7% annual decline. The most popular property type among new homeowners was three-bedroom properties, which accounted for 46% of all FTB purchases in August.

Looking for the long-term

Historically, FTBs would enter the market by buying a smaller property, with the intention of moving up the ladder later. However, it seems that this trend is changing. Many new homeowners are aiming to purchase a longer-term home from the outset, rather than upsizing after a few years.

Longer mortgages

To afford larger homes, FTBs are opting for longer mortgages, with 41.3% taking out a mortgage of at least 30 years in August. In fact, 37% of borrowers said that mortgages spanning 30 to 40 years are more appealing because it meant lower monthly repayments. However, repaying a mortgage over a longer period means paying more interest overall, increasing the total cost of borrowing.

Your home may be repossessed if you do not keep up repayments on your mortgage

Sources:

https://www.thisismoney.co.uk/money/mortgageshome/article-15099631/First-time-buyers-mega-mortgages-buy-forever-home.html

https://www.msn.com/en-ie/money/homeandproperty/first-time-buyers-take-out-mega-mortgages-to-buy-a-forever-home/ar-AA1MC7gQ?ocid=finance-verthp-feeds&apiversion=v2&domshim=1&noservercache=1&noservertelemetry=1&batchservertelemetry=1&renderwebcomponents=1&wcseo=1

UK Needs More Protection Confidence

Tue, 09 Dec 2025 08:00:05 GMT

According to a new study, many UK adults do not feel confident that their family would be financially secure in the event of their death.

In the survey, 2,000 consumers were asked about their financial confidence if the worst happened. Only one in five (22%) respondents felt ‘very confident’ that their family would be financially protected if they passed away. Meanwhile, a third thought their loved ones would ‘manage for a while’ and a quarter (23%) were not at all sure if their family would be able to cope financially.

The generational difference

The report showed that attitudes towards financial security varied depending on age, gender and type of workplace. Interestingly, 45 to 54-year-olds were the least confident, with a third (33%) believing that their loved ones would not be financially secure if they died. Only one in ten of this age group were sure that their family would be in a stable position. On the other hand, 25 to 34-year-olds were the most confident age group, with 75% feeling certain their family would be sufficiently protected. This notable disparity could be because 45 to 54-year-olds typically have more dependents than the younger generation.

The gender gap

Two-thirds (67%) of men felt confident about their family’s financial position, but only half (49%) of women felt the same. Moreover, women were nearly twice as likely to say that their loved ones would face serious financial challenges if they died (9% of women vs 5% of men).

The impact of employment status

The size of workplace appeared to have an impact on financial confidence; employees at larger companies (with 250+ staff) felt the most assured about leaving their family in a secure financial position. On the other hand, those working in smaller businesses (fewer than 50 employees) were the least confident, with 46% believing that their family would cope without them.

The importance of protection

Jack Southcott at The Exeter commented on the findings, “Increasing consumer awareness of the valuable safety net provided by protection insurance products is essential in improving the financial resilience of UK households. Products such as life insurance can provide greater reassurance for individuals and their loved ones if the worst happens. It’s also important that consumers consider speaking to their adviser about putting a policy in trust or nominating beneficiaries to ensure any benefit paid goes to the right people without delay.”

Boost your confidence

If you’re feeling unsure about how your family would cope in the event of your death, we’re here to help. By implementing protection that works for you, you can have peace of mind that your loved

ones will have the support they need at difficult time.

As with all insurance policies, conditions and exclusions will apply

Sources:

https://www.actuarialpost.co.uk/article/only-1-in-5-feel-financially-confident-if-the-worst-happened-25653.htm

Mortgage Payments Reach Record High

Thu, 04 Dec 2025 08:00:06 GMT

Data from the Office of National Statistics shows that the average monthly mortgage repayment has surpassed £1,000 for the first time on record.

In August, the typical monthly payment reached £1,002.27, indicating that, despite some cuts to Bank Rate over the last year, homeowners are still facing affordability challenges due to higher inflation. Less than a year ago, average repayments were below £950 and, in 2020, homeowners were paying an average of £680 per month. This sharp increase shows how much borrowing costs have risen in the last five years.

Many fixed rate deals that were secured during the pandemic are coming to an end in 2025. As these mortgages expire, some borrowers can expect to see their monthly repayments more than double. In mid-August, the average five-year fixed mortgage rate eased below 5% for the first time since May 2023. However, major lenders have started increasing their rates again, largely due to the rising yield on government bonds, known as gilts.

If you’re dealing with higher mortgage costs, you don’t have to manage alone. Our advisers can help you understand what the changes mean for you and explore the best options for you and your circumstances.

Your home may be repossessed if you do not keep up repayments on your mortgage

Sources:

https://www.thisismoney.co.uk/money/mortgageshome/article-15092291/Monthly-mortgage-repayments-hit-record-1-000-time-lenders-rates.html

https://www.msn.com/en-ca/money/finance-real-estate/monthly-mortgage-repayments-hit-a-record-1-000-for-the-first-time-as-lenders-put-up-interest-rates/ar-AA1MqLMJ?ocid=finance-verthp-feeds

Protection gaps put homes at risk

Tue, 02 Dec 2025 08:00:09 GMT

Research has found that many Brits would need to sell their family home if their spouse died.

The findings showed that one in three (30%) UK adults would not be able to afford to stay living in their home if their partner died unexpectedly. Meanwhile, 35% would need to tap into their savings to make ends meet, and 18% would have to take on extra work.

The importance of protecting your mortgage

The survey found that keeping up with mortgage repayments was the biggest financial worry if a partner were to pass away unexpectedly. Respondents said they would be forced to turn to their family or friends (11%) for financial support, while others said they would have to take out a loan (10%) or take in a lodger (8%).

Despite these worries, 60% of respondents do not have a life insurance policy that includes mortgage protection. Concerningly, 80% said they do not have savings to fall back on in times of financial hardship.

Start the conversation

It can be difficult to think about what would happen if you or your partner died. But taking practical steps now to protect your home and family can give you valuable peace of mind.

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.thisismoney.co.uk/money/mortgageshome/article-15121547/One-three-Britons-forced-sell-family-home-partner-died-unexpectedly.html

https://www.actuarialpost.co.uk/article/1-in-3-could-lose-the-family-home-after-a-partners-death-25661.htm

Know Your Policy Terms

Thu, 27 Nov 2025 08:00:07 GMT

Recent analysis has found that many home insurance policies don’t include accidental damage cover as standard.

There were 78 home insurance policies analysed from 35 providers; cover for accidental damage was only included in 28% of buildings insurance policies and 27% of content policies. However, according to research, 31% of people with insurance thought they would be covered for anything that was not their fault. But in most cases, they would need to purchase accidental damage as an add-on. This could be a beneficial decision, as accidental damage accounted for 19% of claims made in the last two years.

This data highlights the importance of checking the terms of your policy, so you don’t get caught out.

As with all insurance policies, conditions and exclusions will apply

Sources:

https://www.msn.com/en-gb/money/other/most-home-insurance-policies-don-t-cover-one-thing-you-think-they-would/ar-AA1NuNod

Don't Move Without Reviewing Protection

Tue, 25 Nov 2025 08:00:02 GMT

A recent survey has found that a concerning number of protection policyholders are moving home without reviewing their cover.

According to the research, one in four respondents have moved since they took out their protection cover, but 32% have not reviewed their policy. Moreover, 63% have looked at their cover but did not make any changes. This could be risky as major life events such as moving home usually require a revision to your current insurance, as you will likely need a different level of cover. For example, your mortgage will probably have changed, so you need to make sure that you and your family could still meet your repayments if you pass away or lose your income due to illness or injury.

The survey found that most UK adults were prompted to take out protection after buying their first home. Interestingly, most people (26%) in this situation opted to take out critical illness cover, while 23% purchased income protection and 21% bought life insurance.

We know that moving home can be stressful, but It’s important to take the time to check that your existing insurance policies still meet your needs. We’re here 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.covermagazine.co.uk/news/4518274/policyholders-house-reviewing-protection-vitality

Buyers Supported By Government Scheme

Thu, 20 Nov 2025 08:00:04 GMT

In July, the Labour government’s permanent Mortgage Guarantee Scheme became available, after the previous iteration supported over 56,000 mortgage completions.

The old scheme, which ran from April 2021 to March 2025, was launched by Boris Johnson’s Conservative government. It helped 56,389 people to access mortgages with smaller deposits, with 3,180 completions in Q1 of this year. The scheme was open to first-time buyers (FTBs), movers and remortgagers, but the vast majority (86%) of purchases from FTBs. Overall, £11.5bn worth of loans was supported by the scheme, with the average property purchased for £215,467.

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.mortgagestrategy.co.uk/news/mortgage-guarantee-scheme-backs-11-5bn-of-loans/

Is Your Mortgage Deal Coming To An End?

Tue, 18 Nov 2025 08:00:05 GMT

Over 760,000 borrowers will be considering their mortgage options as their fixed-rate deals come to an end this year.

Those with five-year deals about to expire may be anticipating sharp rises in their monthly bills; they will have fixed their mortgage in 2020, when interest rates were as low as 1.4%. Since then, rates have soared, meaning payments could increase by up to £300 a month. Although rates are a lot higher than they were five years ago, this summer did see some lenders cutting their rates as they competed for remortgage deals amid slow buying activity. In July, there were 41,800 remortgage approvals, the highest since October 2022 after Liz Truss’ mini budget.

Seek advice in times of change

In uncertain economic times, it can be difficult to know what to do if your mortgage deal is coming to an end. Fixed deals are not your only option; there are tracker mortgages, standard variable rates and others which may be suited to your specific circumstances. A professional adviser can talk you through your options so you can make an informed decision.

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.thetimes.com/business-money/money/article/mortgage-prices-borrowers-rates-x90qwxn9k

Homebuyers Warned About Stamp Duty Scams

Thu, 13 Nov 2025 08:00:16 GMT

HMRC has warned buyers to be cautious of tax agents making false claims about Stamp Duty Land Tax (SDLT).

Some homeowners have been wrongly advised that properties in need of repair are uninhabitable, so are eligible for non-residential rates of SDLT. Rogue agents are suggesting that, for a fee, they can secure a tax refund on behalf of the buyer. However, a Court of Appeal decision has confirmed that properties needing repair are still residential and repayment claims based solely on a property’s condition are not valid.

Anthony Burke at HMRC has warned, “Homebuyers should be cautious of allowing someone to make a Stamp Duty Land Tax repayment claim on their behalf. If the claim is inaccurate, you could end up paying more than the amount you were trying to recover.”

Sources:

https://www.jkt.co.uk/news/business-news/archive/article/2025/August/homebuyers-warned-as-hmrc-clamps-down-on-stamp-duty-claims

https://www.gov.uk/government/news/homebuyers-warning-as-hmrc-gets-tough-on-bogus-stamp-duty-claims

When To Review Your Life Cover

Tue, 11 Nov 2025 08:00:20 GMT

Life cover is designed to provide loved ones with essential financial protection when it is needed most. But it’s not just a one-off decision - it’s important to review and update your policy regularly, especially after experiencing any key life events that may change your circumstances.

Buying a home

In a recent survey, 21% of UK life insurance policyholders said that they were prompted to get cover because it was a requirement for their mortgage. Whether or not it’s stipulated by your lender, it’s essential to get protection if you’re a homeowner, as life insurance could help your family to keep up with monthly repayments in the event of your death.

Getting married

If you’ve started sharing finances with a partner, it’s important to make sure you’re both insured if the worst happened. A joint policy covers two people – it’s often cheaper but usually only pays out once, so a surviving partner would need to take out a new policy. Also, it can be difficult to separate the policy if the relationship breaks down. If a couple takes out separate single life insurance policies, the surviving spouse will still be covered if their partner dies.

The birth of a child

In the survey, 30% of respondents said they got life insurance because they had become a parent. As well as bringing a lot of joy, having children brings great financial responsibility, so it’s important to make sure your policy reflects that. This does not just apply to your first child; it’s equally important to review your level of cover as your family grows.

Planning for the future

It’s not just major life milestones that might prompt you to review your insurance. If you’re thinking about estate and tax planning, you might also review your protection plans. For example, if you’re over 50, you might be thinking about who will pay for your funeral, as this can be a big expense for surviving family members. Over 50s life insurance can help with this – while it is not designed to cover all the costs of a funeral, it can pay out a small, guaranteed lump sum to your loved ones.

Also, writing your life insurance policy in trust ensures that a payout is not considered part of your estate and therefore not subject to Inheritance Tax. Plus, claims can be paid before probate is granted, so your beneficiaries can receive the money swiftly. These documents are legally binding so it’s important to seek advice about this.

Here to help

We can help you review your existing policy or explore new options tailored to your needs and budget. Don’t wait for life to change before you act; take the opportunity to review your cover today.

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.

Sources:

https://www.forbes.com/uk/advisor/life-insurance/life-insurance-statistics/

https://www.postoffice.co.uk/life-cover/guides/six-reasons-you-need-cover

Consumers Recognize The Importance Of Advice

Thu, 06 Nov 2025 08:00:17 GMT

Data has found that most consumers prefer to seek professional advice before purchasing an insurance product.

Nearly two-thirds (64%) of respondents said they would feel most comfortable taking out protection after consulting an adviser. When researching products, most people (59%) would use comparison sites, while 45% would visit the individual sites of insurance companies.

The younger generations

Interestingly, 25 to 34-year-olds were most likely to seek advice from an adviser, with 54% saying they would do this when exploring their options. However, 14% of this age group would also consider the opinions of influencers, reflecting the increasing trend of turning to social media platforms for financial advice. This is not advisable as many financial influencers (known as ‘finfluencers’) are unregulated and unreliable.

Boost your confidence, seek advice

Overall, the survey found that 74% of consumers feel confident about their understanding of insurance products and how to purchase them. Jamie Page at The Exeter commented on the data, “While online resources or AI-powered tools can help people get started, these findings highlight the important role that advisers play throughout the purchase journey.”

As with all insurance policies, conditions and exclusions will apply.

Sources:

https://www.ftadviser.com/exeter-friendly-society-ltd-/2025/8/22/nearly-70-prefer-seeking-advice-when-buying-insurance/

An Update On Mortgage Rates

Tue, 04 Nov 2025 08:00:14 GMT

Bank Rate may be at its lowest level since March 2023, but mortgage rates seem to be on the rise again.

In August, inflation was at 3.8% for the second month in a row, nearly double the Bank of England’s target of 2%. The Monetary Policy Committee therefore voted to keep Bank Rate at 4% in September, and many experts are uncertain if another cut is likely in 2025. In response to this uncertainty, many lenders have increased their mortgage rates; the average two-year and five-year fixed mortgages are now at 4.97% and 5.02% respectively. While this is lower than the peaks of 6.86% and 6.35% in the summer of 2023, it’s still high in comparison to October 2021, when some of the lowest rates were below 1%.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Sources:

https://www.thisismoney.co.uk/money/mortgageshome/article-1687576/mortgage-rates.html

The Nation Is Confused By Leaseholding

Tue, 28 Oct 2025 08:00:07 GMT

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

House Prices Outstrip Wage Growth

Thu, 23 Oct 2025 07:00:15 GMT

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/

Protection Payouts On The Rise

Tue, 21 Oct 2025 07:00:06 GMT

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/

Quoted Home Insurance Premiums Fall

Thu, 16 Oct 2025 07:00:13 GMT

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

Many Dormant Life Policies In The UK

Tue, 14 Oct 2025 07:00:10 GMT

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’ Plan to Scrap Stamp Duty – What It Means for Brighton & Hove

Sat, 11 Oct 2025 07:00:00 GMT

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.

The New Home-Buying Reform – What It Could Mean for Brighton & Hove Buyers

Fri, 10 Oct 2025 14:00:05 GMT

Buying a home can be stressful, confusing and — let’s face it — slow. The government has now announced plans to reform the home-buying process to make it faster, simpler and more transparent. But what’s changing, and how could this affect you if you’re buying or selling in Brighton & Hove ?

What’s Being Proposed

The new reforms aim to:

Speed up transactions – The goal is to cut around four weeks off the average buying time by encouraging digital ID checks and better data sharing.
Provide upfront information – Sellers will need to give key details (like lease length, service charges, and property condition) earlier in the process, helping buyers avoid nasty surprises.
Reduce failed sales – About one in three property sales currently fall through before completion. With clearer information upfront, the hope is that fewer deals collapse.

How This Helps Brighton & Hove Buyers

Brighton & Hove has a busy, competitive housing market with lots of flats and leasehold properties. This reform could make a real difference by:

Saving time and stress – Faster transactions mean fewer weeks waiting for updates.
Avoiding surprises – Early disclosure of lease terms or service charges could save you money and headaches later.
Helping first-time buyers – With less risk of deals falling through, first-time buyers may feel more confident to get on the ladder.

Things to Watch Out For

Like any major change, there are some challenges too:

Sellers might face extra upfront costs to provide all the required information.
Older properties in Brighton’s conservation areas could still take longer to process.
Until the new system is fully in place, buyers and sellers may see a mix of “old” and “new” ways of working.

The Bottom Line

If done well, this home-buying reform could make buying in Brighton & Hove smoother and more transparent — something every buyer would welcome! Keep an eye on updates as these proposals move closer to becoming law, especially if you’re planning to move in the next year or two.

Home Insurance Renewal Tips

Thu, 09 Oct 2025 07:00:17 GMT

Figures from the second quarter of this year show that the average cost of home insurance has generally remained unchanged.

The average cost of combined buildings and contents cover was £391 per year for policies taken out between April and June, £2 cheaper than quarter one. This is still relatively high and only slightly lower than the peak of £399 seen in Q3 2024. Premiums are high because insurers are paying out more in claims - £1.6 bn was paid out in Q2, up from £1.5bn the previous quarter. Bad weather is driving this increase, with £322m paid out for damage related to storms, heavy rainfall and frozen pipes.

Saving tips

• It’s important to be cautious of auto-renewal clauses in your policy as you may get locked into another 12 months before you can check the market for a better offer.

• Set a reminder a few weeks before your policy is due to come to an end so you can take your time to renew and get advice. It is often more expensive to buy cover if you leave it to the last minute.

• We understand that paying monthly can feel more manageable than a big annual payment. However, if you can budget effectively, it is often cheaper to pay for the year.

As with all insurance policies, conditions and exclusions will apply.

Sources:

https://www.which.co.uk/news/article/whats-happening-to-home-insurance-premiums-a3EjJ5O6GVvP

Kids Damage Can Hit Your Pocket

Tue, 07 Oct 2025 07:00:28 GMT

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/

A Busy Summer For Housing

Thu, 02 Oct 2025 07:00:31 GMT

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/

Is your income protected?

Fri, 26 Sep 2025 13:53:37 GMT

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

Young homeowners aren't protected

Thu, 25 Sep 2025 07:00:10 GMT

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/

The gender insurance gap

Tue, 23 Sep 2025 07:00:31 GMT

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

Help to Buy repayments on the rise

Thu, 18 Sep 2025 07:00:11 GMT

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/

Mortgage market back on track

Tue, 16 Sep 2025 07:00:15 GMT

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/

Squeezed middle suffer life insurance gap

Thu, 11 Sep 2025 07:00:02 GMT

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/

Over half of Brits don't have life insurance

Tue, 09 Sep 2025 07:00:12 GMT

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/

Sales agreed on the rise

Thu, 04 Sep 2025 07:00:09 GMT

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/

Young homeowners vulnerable

Thu, 28 Aug 2025 07:00:05 GMT

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 prices outpace towns and cities

Tue, 26 Aug 2025 07:00:01 GMT

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/

Mortgage debt squeeze tightens

Thu, 21 Aug 2025 07:00:12 GMT

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

How is the housing market faring so far in 2025?

Wed, 20 Aug 2025 14:30:02 GMT

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/

Homebuyers hit by unexpected costs

Tue, 19 Aug 2025 07:00:16 GMT

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/

Half a million face mortgage rate spike

Thu, 07 Aug 2025 07:00:25 GMT

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/

Annual house prices higher in May

Tue, 05 Aug 2025 07:00:21 GMT

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/

Should you overpay your mortgage?

Tue, 29 Jul 2025 07:00:01 GMT

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

Check existing home insurance policies

Thu, 24 Jul 2025 07:00:00 GMT

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/

Who gets to benefit after divorce?

Tue, 22 Jul 2025 07:00:03 GMT

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/

Two million are just one pay day from crisis

Thu, 17 Jul 2025 07:00:21 GMT

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

Low-deposit mortgages hit 17-year high

Tue, 15 Jul 2025 07:00:19 GMT

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/

Debunking common life insurance myths

Thu, 10 Jul 2025 07:00:01 GMT

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

First time buyer affordability at decade high

Tue, 08 Jul 2025 07:00:16 GMT

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

England top for moving costs at £51k

Thu, 03 Jul 2025 07:00:07 GMT

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/

Britain’s most energy-efficient areas

Tue, 01 Jul 2025 07:00:13 GMT

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

Here’s why life insurance matters

Thu, 26 Jun 2025 07:00:00 GMT

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

Why life insurance makes sense at any age

Tue, 24 Jun 2025 07:00:10 GMT

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

Don’t be careless with spare house keys

Thu, 19 Jun 2025 07:00:24 GMT

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

DIY disasters can wreck insurance claims

Tue, 17 Jun 2025 07:00:21 GMT

Taking on DIY projects can be a great way to improve your home and save some money, but it could also leave you seriously out of pocket if things go wrong. According to trades site MyBuilder.com, millions of homeowners could find their insurance claim is rejected due to botched or poorly maintained DIY work.

Many home insurance policies have clauses that require properties to be kept in good condition. If damage occurs due to poor maintenance or bad DIY attempts, insurers may refuse to pay out. This doesn’t just apply to major renovations, even something as simple as failing to clear your gutters could invalidate a claim.

Andy Simms, a home maintenance expert at MyBuilder.com, warns, “It’s easy to fall behind on home jobs, or think you can manage it yourself. But the reality is that many household jobs require a professional and in choosing to ignore that you could cost yourself a small fortune.”

Jobs involving electrics, heating systems, or boilers should always be left to certified professionals. What might seem like a straightforward fix can lead to major damage and if it’s traced back to a DIY blunder, your insurance might not cover the repair bill. When in doubt, it’s safer to call in the experts.

As with all insurance policies, conditions and exclusions will apply

Mortgage bills up £2,800 since 2022

Thu, 12 Jun 2025 07:00:09 GMT

UK housing costs reached a record £217bn in 2024, according to estate agent Savills. This is a £41.2bn rise over two years and accounts for 60% of the decade’s increase.

Mortgaged owner-occupiers paid £110bn in total, with the average annual cost now £12,754, up £2,829 since 2022. The surge was largely driven by a 32% rise in mortgage interest repayments. “Mortgage rates eased last year, but the higher costs incurred by households reflect the number who had come to the end of a fixed-rate deal or moved home,” said Lucian Cook of Savills. Renters faced average increases of £2,195 compared to two years ago.

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

Divorcees warned to review finances

Tue, 10 Jun 2025 07:00:09 GMT

Around 11% of divorcees haven’t remove their ex-partner from their Will, risking their estate going to their ex instead of their intended beneficiaries, according to Legal & General (L&G) research.

L&G also says a tenth of divorcees have not updated who should receive their life insurance payout. Meanwhile, only a small number take out new cover after divorce, with 4% buying critical illness insurance and 3% income protection.

It’s very important for anyone going through a separation to be fully aware of the financial implications of divorce and to ensure they review other important elements, like their Wills and financial products like protection insurance. Come and talk to us for a review.

As with all insurance policies, conditions and exclusions will apply

Buying beats renting across Britain

Thu, 05 Jun 2025 07:00:20 GMT

Buying a home is now significantly cheaper than renting across most of Great Britain, according to research from property website Zoopla. The average monthly mortgage payment for first-time buyers (FTBs)stands at £1,038, which is 20% lower than the average monthly rent of £1,248. This analysis assumes buyers have a 20% deposit, which works out as £50,740 based on the typical FTB home priced at £253,700. In London, where affordability is stretched, deposits tend to be higher, averaging 30%.

The regional cost gap

Mortgage payments are 24% lower than rents in the North East, the widest gap in the country. Other areas showing large savings for buyers include Glasgow (46% cheaper to buy), Newcastle (34%), and Cardiff (31%). However, in the East of England, it’s still 9% more expensive to buy than rent. In 10% of postal areas, buying costs more, led by Harrogate, where mortgage payments are 15% higher than rents.

Despite the current advantage for homeowners, affordability remains a major hurdle for many first-time buyers. Raising a deposit is one of the biggest challenges, with average deposits ranging from £27,700 in the North East to £83,400 in London. Nearly two-thirds of FTBs say they’ve needed help from family to cover the upfront costs.

Getting on the ladder remains challenging

Tougher mortgage regulations introduced in 2015 are also making it harder to achieve home ownership. Lenders now expect buyers to prove they can manage repayments even if interest rates rise. Many currently use a ‘stress test’ of 8%, well above current mortgage rates, which can push monthly repayments above rental costs, even in areas where buying is typically cheaper.

Zoopla’s Executive Director, Richard Donnell, said, “Our renting versus buying analysis is welcome news for would-be first-time buyers looking to buy their first home, having faced steep increases in rents over the last three years.” However, he added, “There remain challenges facing first-time buyers, especially those on average incomes or with small deposits… The more first-time buyers priced out of home ownership, the greater the pressure on the private rental market and rental levels.”

Donnell welcomed proposals to review mortgage lending rules, suggesting stress testing rates closer to 6% or 7% would help more people buy without triggering a surge in house prices. “We do not want to return to the loose lending that preceded the global financial crisis,” he said. “But modest changes could ease the way for middle-income renters to become homeowners.”

Looking to buy your first home but not sure where to begin? Get in touch, because we’re here to guide you every step of the way.

Your home may be repossessed if you do not keep up repayments on your mortgage

Stamp Duty hike drives up moving costs

Tue, 03 Jun 2025 07:00:11 GMT

The cost of moving home in England has jumped 10.9% over the past year, according to new research from estate agents Yopa.

The average mover now faces a total bill of £51,826, with a 15% mortgage deposit costing £43,585, making up the largest share. However, changes to Stamp Duty relief thresholds have also driven costs higher. One year ago, movers paid an average of £1,433 in Stamp Duty, but this rose to £2,028 before 1 April and now stands at £4,528, a 216% year-on-year increase.

With a steady rise in property values over 30 years, home ownership is likely to be the largest purchase you’ll make, so it pays to get advice from someone you trust.

Your home may be repossessed if you do not keep up repayments on your mortgage

Beware the double insurance trap

Thu, 29 May 2025 07:00:07 GMT

Owners of electrical vehicles (EVs) are advised to check their motor and home insurance policies as they could fall into the double insurance trap.

An increasing number of motor insurers are providing cover for EV cables. While this is promising, it could cross over with your home insurance, leaving you in a double insurance trap if you need to make a claim. Some insurers state that they will not make a payout if cover is provided elsewhere, so it’s vital to read the small print of your policy wording and identify any grey areas. Also, about four in 10 products still do not clearly state if cover is provided for EV cables and charging points – if this is the case, you should confirm with your insurer.

As with all insurance policies, conditions and exclusions will apply.

Bad weather leads to record insurance claims

Tue, 27 May 2025 07:00:10 GMT

Weather-related damage to homes and possessions resulted in UK insurers paying out a record £585m in 2024, according to the Association of British Insurers (ABI).

This record-breaking payout came in what was an unusually severe year for the UK, with 12 named storms, the highest since the winter of 2015/16. Claims from flooding, storms, wind and frozen pipes soared, overtaking the previous record set in 2022 by £77m and rising £127m higher than in 2023.

Overall property claims also hit new highs, totalling £5.7bn for the year, the largest amount insurers have ever paid out. The last three months of 2024 alone saw home claims due to bad weather reach £146m, the seventh consecutive quarter above £100m. Businesses were also badly hit, with £102m in claims for storm damage and interruptions, up significantly from previous periods. With extreme weather becoming more common, these figures underline the importance of homeowners and businesses having appropriate insurance cover in place.

The ABI warns ‘prevention is better than cure’ and says that more action is needed to ensure UK properties are ‘fit for the future and that they are not built in areas prone to climate risk.’

As with all insurance policies, conditions and exclusions will apply

Parents worry about kids’ critical illnesses

Thu, 22 May 2025 07:00:01 GMT

Parents across the UK are increasingly worried about their children’s health and wellbeing, according to research from LV=. Their latest ‘Reaching Resilience’ report suggests two-thirds of parents (67%) fear their child being diagnosed with a serious illness. Concerns about children’s mental health are also rising, now affecting 68% of parents, up slightly from last year.

The worries aren’t just health-related, with 62% of working parents fearing the financial consequences if illness or injury prevented them from working. Nearly a third (31%) said they would struggle financially if being diagnosed with a critical illness means losing income.

LV=’s report highlights that the average worker in the UK supports three people financially, including children and elderly relatives. Parents are also more likely to worry about the impact of illness or injury on their family’s finances compared to workers without children.

Income protection policies provide much-needed reassurance by offering financial support if illness affects parents or their children. Some policies include family-focused cover, giving parents the financial breathing space to focus on caring for a seriously ill child without worrying about bills.

As with all insurance policies, conditions and exclusions will apply

Just 1% back to work after illness

Tue, 20 May 2025 07:00:09 GMT

A new Learning and Work Institute report suggests just 1% of UK workers looking to return to work after poor health manage to find a job within six months, even though 20% of those considered to be ‘economically inactive’ want to work.

According to the report, a combination of inadequate support to return to work, skewed financial incentives and inflexible employers have created a benefits trap. It is calling for changes to financial incentives for ill and disabled people to work and argues against further cuts to benefits.

Benefit bill concerns

The findings come ahead of government plans to overhaul working-age health and disability benefit which are projected to cost £100bn a year by the end of the decade. Steven Evans, Chief Executive of the Learning and Work Institute, commented in the report, ‘3.5 million people receive incapacity benefits because they are too ill to work, up 37% since the pandemic. Many want to work, but too few are offered help to find work and not enough workplaces offer suitable employment opportunities.”

The report suggests spending £450m a year on improving employment support could save £4bn a year in the longer term, in the form of lower benefit payments and higher tax receipts. The Learning and Work Institute proposes several improvements to the benefits system that it believes would help bring 500,000 more people back into work over a ten-year period. The proposals include improving and decoupling financial support, introducing a new ‘Benefits Passport’, inviting more people to regular ‘work support conversations’, expanded employment support and working with employers to offer better opportunities and to support job retention.

The importance of income protection

The findings highlight how income protection policies can be a valuable safety net for anyone who suffers illness or injury and is unable to return to work quickly. Government support is often insufficient or inflexible, meaning without insurance in place people often struggle financially and lack the tailored support they need to resume employment.

Income protection is invaluable as it pays out a regular ‘income’ which can give added financial security for you and your family, as well as giving you time and space to recover fully and be able to return to work.

Mortgage payment protection insurance (MPPI)

It’s also possible to take out a form of income protection which covers your mortgage repayments if you can’t work due to involuntary redundancy, illness or injury. MPPI can fully cover your monthly repayments as long as they don’t exceed 65% of your gross monthly salary. Most insurers will support you for up to 12 months or until you return to work – whichever is sooner.

As with all insurance policies, conditions and exclusions will apply

Mortgage lending up despite rate fears

Thu, 15 May 2025 07:00:14 GMT

The UK mortgage market bounced back strongly at the end of 2024, driven by first-time buyers and home movers, according to UK Finance.

First-time buyer mortgages rose 16.4% to 334,000 last year, while home movers increased by 14.7% to 288,000. Total home purchases reached 622,000, up 15.6% overall. Lower mortgage rates boosted demand in 2024, especially in the fourth quarter, as buyers rushed to beat the changes to Stamp Duty rules this April. However, remortgage deals fell by 9% to 1.6 million, mainly due to fewer fixed-rate deals expiring. This is likely to change in 2025, with 1.8 million fixed-rate mortgages due to expire.

Stricter lending rules introduced from 2014 have made it tougher to secure high loan-to-income mortgages (over 4.5 times salary). As a result, first-time buyers in London now need deposits worth more than 2.5 times their annual income, compared to 1.9 times before 2014.

Eric Leenders from UK Finance said, “The strong end to 2024 highlights the resilience of UK households. But affordability remains a challenge, particularly in London. The upcoming regulatory review, expected this spring, could ease lending restrictions and help more people onto and up the housing ladder.”

Your home may be repossessed if you do not keep up repayments on your mortgage

Housing market steadily recovers

Tue, 13 May 2025 07:00:14 GMT

The housing market continues to show signs of recovery as house price growth remains relatively stable*.

In February, the average UK house price rose by 0.4% - the sixth consecutive monthly increase. Meanwhile, annual growth was at 3.9% - only marginally lower than the pace of growth in January (4.1%). This steady increase is likely due to a spike in market activity - in the second half of 2024, housing transactions were up 14% in comparison to the previous year.

However, we are heading into more challenging times due to the recent Stamp Duty changes. According to Robert Gardner, Chief Economist at Nationwide, “This will likely lead to a jump in transactions in March, and a corresponding period of weakness in the following months, as occurred in the wake of previous stamp duty changes.”

*Nationwide, 2025

Buyers leaning towards fixer-uppers

Thu, 08 May 2025 07:00:07 GMT

Fixer-uppers are the most popular type of home among buyers this year*.

Analysis has found that nearly half (46%) of fixer-upper homes on the market are under offer or have sold subject to contract. Meanwhile, 37% of period properties on the market have found a buyer and modern homes are the least popular, with only 27% under offer.

It is estimated that the average fixer-upper property is discounted by 12%2, indicating that the nation is opting for the most affordable option. However, supply is limited, as fixer-uppers account for only 5% of all homes listed. There is better availability for modern homes (10%) and period properties (28%).

Hoping to make your property dreams come true in 2025? Get in touch.

Your home may be repossessed if you do not keep up repayments on your mortgage

* Yopa, 2025

2 Rightmove, 2024

Fixing? Two-year or Five-years?

Tue, 06 May 2025 07:00:05 GMT

Two-year fixed mortgages could become cheaper than five-year deals in 2025*.

Typically, longer fixed mortgage deals are more expensive than two-year deals due to uncertainty surrounding interest rates in the long-term. However, since Liz Truss’ Mini Budget in 2022, five-year fixed mortgages have been the cheaper option; interest rates have been higher, so there has been an expectation that they will start to drop. But, if the Bank of England makes further reductions to Bank Rate this year, experts anticipate that two-year fixes will fall below five-year deals. Borrowers may therefore be faced with a dilemma about which deal to choose.

Need advice on what this means for you and your mortgage? Contact us.

Your home may be repossessed if you do not keep up repayments on your mortgage

*iPaper, 2025

How protected are UK workers?

Tue, 29 Apr 2025 07:00:12 GMT

In today's uncertain economic climate, financial resilience is more crucial than ever. In a recent report*, an impressive 69% of UK workers said they feel very financially resilient – up 4% since last year. Despite this, only 52% hold a protection policy, which leaves a significant portion of the workforce inadequately covered.

Many workers unprotected

The average household debt is £20,640 (excluding mortgages) and this rises to £28,908 for the self-employed population. The average worker has three people who are dependent on their income, yet only 7% have a protection policy in place that they pay for themselves. Also, 42% of UK households would only be able to survive for up to three months if they did not have an income. So, a concerning number of people could potentially find themselves in a vulnerable financial position if they are unable to work.

What’s your plan B?

Workers were asked how they would cope if they could not work for two months or more and 47% said they would fall back on their savings. Meanwhile, 32% would use sick pay from their employer, and 19% planned to rely on their partner. But, with the right income protection insurance in place, there is no need to exhaust your savings pot or put your partner under unnecessary financial strain. Instead, your insurer will pay out a monthly amount until the term ends or you return to work.

Don’t rely on sick pay

One in five employed workers did not know what their sick pay arrangements were. Meanwhile, just over half of those who thought they were entitled to sick pay realised they were actually only entitled to support for 12 weeks or less. Even though sick pay is a valuable safety net, it’s not likely to be enough to help you pay your bills in the long run; for the tax year ending 5 April 2025, the weekly rate for Statutory Sick Pay is £116.75.

Self-employed population

It is perhaps unsurprising that self-employed people seem to be more financially vulnerable, with 19% saying they would have to continue working if they’re ill or injured, compared to 12% of those who are employed. One in four self-employed people have savings of less than £1,000, while 29% could manage for less than a month if they were unable to work. As a result, 17% would have to rely on their parents for financial support.

Get informed, get covered

It seems that, while financial confidence among UK workers is on the rise, this does not necessarily mean that the UK population is adequately protected. Mike Farrell, Protection Sales and Marketing Director at LV, commented, “While it’s encouraging to see financial confidence on the rise, our findings show that the right protection could further strengthen this sense of security.”

As with all insurance policies, conditions and exclusions will apply

* LV, 2025

The rise in home insurance premiums

Wed, 23 Apr 2025 10:03:48 GMT

Homeowners in the UK may have noticed that their home insurance premiums have significantly increased. In Q3 2024, the average buildings and contents insurance policy cost £407*– up 16% on the previous year.

Regional differences

Some regions have been harder hit than others, with Londoners experiencing the biggest hike in their home insurance premiums**. For homeowners in the capital, the average home insurance increased in price by about 46 percentage points between Q1 2023 and Q1 2024. Meanwhile, the north west saw the smallest increase (nearly 38 percentage points).

Why the increase?

The rise in home insurance premiums is partly due to inflation, and rising labour and material costs. However, it is also in response to an increased number of claims. Between January - September 2024, insurers paid out a total of £4.1bn in claims* – the highest amount to ever be paid out in the first nine months of a year. This is due to adverse weather conditions caused by climate change. In Q3 2024, damage to homes from storms, heavy rain and frozen pipes cost £136m in claims – 6% higher than the same period in 2023.

Looking for comprehensive home insurance that doesn’t break the bank? We’re here to help.

As with all insurance policies, conditions and exclusions will apply

* ABI, 2024

** Quotezone, 2024

How is the housing market faring?

Thu, 17 Apr 2025 07:00:00 GMT

Recent reductions to Bank Rate may have prompted some cautious optimism among consumers, a report* suggests.

In December 2024, rent and mortgage spending increased annually by 1.8% – a significant improvement on the previous month, when spending grew by 8.2% annually. Despite this slowdown, only 52% of consumers were confident in their ability to afford mortgage and rental payments in December – the lowest level recorded in 2024. Concerns about rising interest rates persist, with 62% expressing apprehension in December, slightly below the peak of 63% in June 2024.

Will market activity pick up?

There is some indication that activity will pick up in 2025 and beyond. Head of Mortgages and Savings at Barclays, Mark Arnold commented that “cautious optimism is emerging”, partly due to “the recent softening of house prices and imminent Stamp Duty changes, which have motivated both potential buyers and sellers to act swiftly”. Promisingly, one in six homeowners are planning to move this year. Also, 22% of renters believe that they could own a home within the next five years. Prospective buyers are prioritising garages or driveways (40%), gardens (39%) and functional spaces such as pantries or utility rooms (32%) in their house hunt.

Obstacles faced by FTBs

When asked to identify the main obstacles to homeownership, 40% of renters cited property prices while 37% said affording a deposit. Nearly six in 10 renters (57%) believe that it is not possible to own a home without receiving an inheritance or access to the Bank of Mum and Dad. However, only 18% of recent first-time buyers said they received financial support from a family member.

Overcoming affordability challenges

Many renters are proactively saving for home purchases without external support, with 35% building their deposit themselves. Some have opted to share the cost, as 17% are saving up to buy with a partner or friend. To maximise their savings, 41% are trying to reduce their monthly bills, which aligns with a 6.7% drop in utilities spending in December, despite rising energy costs. Also, 29% of new homeowners have made use of first-time buyer schemes to help them get on the property ladder. A quarter opted for longer mortgage terms to reduce monthly mortgage repayments.

Motivations for moving

Over the past three years, 30% of Brits, encompassing both renters and homeowners, have moved residences. The primary motivations include lifestyle enhancements (17%), proximity to family and friends (17%), and the need for larger living spaces (15%).

Talk to us

We’re here to help make your property dreams come true, whether you’re a first-time buyer, or looking to move up or down the property. Contact us for professional advice.

Your home may be repossessed if you do not keep up repayments on your mortgage

*Barclays, 2025

Struggling to repay your mortgage?

Tue, 15 Apr 2025 07:00:01 GMT

The UK economy may be slowly recovering but many Brits are still feeling the financial pressure, with one in 10 homeowners struggling to meet their monthly mortgage repayments*. So, what should you do if you find yourself in this difficult situation?

Speak to your lender

Don’t bury your head in the sand. Contact your lender as soon as you can, as they will usually contact you within 15 days of a missed payment anyway. Don’t be afraid of what they will say – in this situation, mortgage lenders must follow certain rules to ensure that you are treated fairly.

Understand your budget

It’s important to sit down and ascertain what you can afford to pay each month, so you can show your lender that you have carefully considered your options.

Decide what’s best for you

You should then write to your lender with your proposed solution. Your options may include:

- Paying off your mortgage over a longer period

- Switching to interest-only payments

- Taking a repayment holiday.

Seek advice

If you’re struggling to repay your mortgage, it’s essential to seek professional advice. We will clearly explain your options, so you can make an informed decision about your next steps.

Your home may be repossessed if you do not keep up repayments on your mortgage

* YouGov, 2025

House prices showed recovery in 2024

Tue, 08 Apr 2025 07:00:00 GMT

House prices returned to growth in 2024, as half of the UK’s housing stock increased in value by an average of £7,600*.

Last year, 15 million homes in the UK rose in price by at least 1%, with 6.9 million increasing by £10,000 or more. Nearly six million homes stayed at broadly the same price, with a minimal change of +/- 1%. Meanwhile, a third of homes (9.2 million) decreased in value by 1% or more – an improvement on 12.8 million in the previous year.

Housing affordability continued to vary regionally, as 63% of homes in Scotland and the north of England registered value gains in 2024. However, only 36% of homes saw the same rise in southern England.

Hoping to move in 2024? Get in touch for mortgage advice.

Your home may be repossessed if you do not keep up repayments on your mortgage

*Zoopla, 2025

What’s happening to interest rates?

Wed, 02 Apr 2025 07:00:01 GMT

In February, the Monetary Policy Committee (MPC) voted to reduce the Bank Rate to 4.5%. Despite this being the third reduction since August 2024, the MPC has still been cautiously restrictive to sustainably return inflation to its 2% target.

In Q4 2024, inflation was 2.5% but is expected to rise to 3.7% by Q3 2025 due to rising energy costs. However, the MPC anticipates that, after this, inflation will return to the target of 2%.

GDP growth has not been as strong as the MPC predicted, with indicators of business and consumer confidence declining. Productivity growth has also been subdued. However, despite some slowdown in growth, the MPC judged that there has been sufficient progress on disinflation in domestic prices and wages, so reduced Bank Rates by 0.25 percentage points.

Why life insurance matters

Thu, 27 Mar 2025 08:00:00 GMT

Getting life insurance is a way to prepare for the worst and to protect what matters most to you.

Workers in the UK are facing a ‘life insurance equality gap’, according to research*. The life insurer’s survey reveals just 50% of salaried workers have taken out life insurance, while just 33% of non-salaried workers, including self-employed, freelancers and workers on zero-hour contracts, have life cover in place.

Why is life insurance important?

Life insurance can help your family feel financially secure when they need it most. The payout can cover essential costs, such as a mortgage, rent, household bills, or education. It also helps settle outstanding debts, so loved ones aren’t left overwhelmed with demands for money. And for those with larger estates, it can also be a valuable estate planning tool, as life insurance payouts are typically Inheritance Tax-free, ensuring your beneficiaries receive the full benefit without deductions.

Is life insurance too expensive?

Despite its importance, many people delay purchasing life insurance, often assuming it’s too expensive. The survey found 25% of non-salaried workers and 19% of salaried workers cited high costs for not having life cover. However, this misconception needs to be challenged, as in most cases, policies start from just a few pounds a month, offering substantial protection at a relatively low cost.

Peace of mind included

Beyond its practical benefits, life insurance provides peace of mind, ensuring families will be supported through difficult times. According to the survey, nearly two-thirds (64%) of self-employed workers without life insurance were worried about lacking life insurance. Among these, 16% are worried their loved ones might struggle to cover funeral expenses. Additionally, 14% fear their family could be burdened with debts like loans or mortgages, while another 14% are concerned that their family’s quality of life would decline if they were to pass away.

Ryan Griffin, Beagle Street’s Director of Protection, said, “It’s vital that everyone who could benefit from having life insurance, can access it. Not only this, but there must be affordable and accessible options that work for people and their families. Advisers play a key role in helping people find the protection that suits their needs and we value the support they give to those looking for cover that is right for them.”

Planning for the worst is never easy, but it’s necessary to secure your family’s financial future. Life insurance provides a simple and effective way to make lasting plans that ensure your loved ones get the financial support they deserve.

As with all insurance policies, conditions and exclusions will apply

*Beagle Street

What’s on the horizon for UK mortgage rates?

Tue, 25 Mar 2025 08:00:00 GMT

UK mortgage rates in the spotlight as economic factors suggest rates could rise again.

Hopes that the Bank of England would significantly lower interest rates in 2025, leading to cheaper mortgages, now seem less likely, thanks to global bond market sell-offs and Labour’s Budget leading to a surge in borrowing costs. These factors have unsettled debt markets and contributed to higher interest rate expectations. As a result, borrowers face a more uncertain outlook.

As a reminder, the Bank of England opted to hold Bank Rate at 4.75% in December. However, since then, a sharp increase in UK government bond (gilt) yields has pressured rates. Market predictions suggest Bank Rate could fall to 4% by the end of 2025, with some analysts anticipating cuts to as low as 2.75%. However, the volatility in the bond market makes those predictions look optimistic.

What can borrowers do?

With bond market volatility set to continue, borrowers should seek professional financial advice before making any decisions. A financial adviser can help navigate the complexities of rate changes and determine whether to fix a mortgage deal or wait for lower rates in future.

Your home may be repossessed if you do not keep up repayments on your mortgage

Average home values up £10k since 2023

Thu, 20 Mar 2025 08:00:01 GMT

The Office for National Statistics (ONS) reported UK house prices increased by an average of £10,000 in the year to October 2024. The report showed the value of a typical home to be an estimated £292,000, an annual increase of 3.4% compared to £282,000 recorded in October 2023.

In England the average house price increased by 3% year-on-year to £309,000. The highest regional increase was in Northern Ireland, where prices rose by 6.2% to £191,000. In Scotland, prices rose by 5.5% to £197,000, while in Wales there was a 4% increase to average house prices to £222,000.

However, monthly, property prices fell on average. In London, average property values were £7,000 lower between September and October, taking average prices in the capital down from £531,000 in August to £520,000 in October.

Flooding threatens 6.3 million homes

Tue, 18 Mar 2025 08:00:00 GMT

A new survey from the Environment Agency suggests one in four properties in England are in areas at risk of flooding and could become ‘overwhelmed’ from a combination of rivers, the sea or surface water.

The Environment Agency surveyed 25 million homes in England to assess their flood risk. It believes 4.6 million properties are in danger of flooding from surface water, an increase of 43% from its previous assessment in 2018. Surface water is rainwater that fails to drain away, either because of heavy rainfall, saturated ground, or overwhelmed drainage systems and leads to flash flooding that can occur in just minutes.

While the report suggests 6.3 million homes currently face flooding risks, climate change could increase the total number to around 8 million by 2050.

Bank of England Governor: four rate cuts in ’25

Tue, 11 Mar 2025 08:00:00 GMT

Bank of England (BoE) Governor Andrew Bailey is confident inflation will fade in 2025, which could mean as many as four interest rate cuts over the year. Bailey told the Financial Times in December that despite recent higher points, he still expected inflation to return to the Bank’s 2.0% target, creating headroom for four 0.25% rate cuts throughout 2025.

Bailey noted that while several different inflation scenarios were possible, the latest monetary policy report noted that the Bank would pursue a path of “gradual” interest rate reductions. If his forecast proves correct, it would push Bank Rate down from 4.75% to 3.75% over the next 12 months.

What could this mean for mortgage borrowers?

For homeowners on tracker mortgages, which track the UK Bank Rate, each rate cut will see their mortgage rate reduced. Mortgage holders with a variable rate mortgage can expect their lenders to cut rates more gradually, with cuts likely to vary from lender to lender and based on a number of different criteria aside from Bank Rate decisions.

Anyone with a fixed rate mortgage, but particularly those whose term ends within the next year, will be more hopeful they can refinance at a more comfortable rate. However, it’s worth noting that fixed mortgage rates anticipate interest rate changes, rather than respond to them. This means expected Bank of England rate cuts are already factored into current rate pricing. As a result, the cheapest five-year fixed rates are slightly above 4%, instead of being more closely tied to the Bank Rate. If the market expects rates to drop to 3.75% by the end of 2025, rather than 4.0%, there could be potential for further mortgage rate reductions.

What if the Governor’s predictions fall short?

Andrew Bailey’s statement highlights that the outlook for the UK economy is still uncertain and while inflation should move closer to target, there are many unknowns that could derail the prospect of four rate cuts this year. It’s also worth noting that despite Bailey’s assertions, market expectations for interest rate cuts have been shifting recently. Before the October Budget, markets expected six to seven rate cuts over the next year, but this dropped to two to three cuts after the Budget, as some measures – including increased borrowing and higher spending commitments – were viewed as inflationary.

Given these dynamics, the future trajectory of interest rates remains hard to predict. That said, further positive comments from Andrew Bailey may encourage a downward trend in rates. For those considering fixed-rate options, acting sooner rather than later may be prudent to secure favourable terms.

Your home may be repossessed if you do not keep up repayments on your mortgage

Stamp Duty rates are going back up on 1st April

Thu, 27 Feb 2025 08:00:00 GMT

Have first-time buyers left it too late to pay lower Stamp Duty? It would appear so.

At present, first-time buyers pay no Stamp Duty when buying a home worth £425,000. However, from 1 April, Stamp Duty thresholds will return to pre-2022 levels, meaning the tax-free threshold for first-time buyers drops from £425,000 to £300,000, resulting in sharply higher costs. From 1 April, buying a home worth £425,000 will now cost first-timers £6,250 in stamp duty.

The new thresholds being introduced include reducing ‘first-time buyers’ relief’ – which lets buyers pay Stamp Duty at a reduced rate – which will be revised from the current £625,000 level back to the pre-2022 level of £500,000. This means the Stamp Duty a first-time buyer can expect to pay on a £625,000 home will rise from £10,000 at present to £21,250, an increase of £11,250.

Is there still time to complete before the increase?

Any first-time buyers hoping to complete their house purchase before the rises are cutting it close. The average time it takes to complete a house purchase is between 12 and 16 weeks and often takes longer. First-time buyers currently in the process of completing a house purchase should therefore consider making plans to pay Stamp Duty at the higher amount if their completion date is later than 31 March.

Non-salaried employees without cover

Tue, 25 Feb 2025 08:00:00 GMT

Two-thirds (64%) of non-salaried employees who don’t have life cover are worried about being uninsured, a survey* has found.

A quarter of this demographic, which includes self-employed individuals, said that they could not afford life insurance. When asked what worried them most about being unprotected, 16% expressed concern that their loved ones would not be able to pay for their funeral. Meanwhile, 14% were anxious about leaving their family with financial burdens and the same proportion were worried about their family’s quality of life.

It's important to have peace of mind that your loved ones would be protected in the event of your death. We can help you find affordable cover that suits your needs.

As with all insurance policies, conditions and exclusions will apply

*Beagle Street, 2024

Life changes, so should your life insurance

Thu, 20 Feb 2025 08:00:00 GMT

Life insurance provides vital protection but as your circumstances change, so too should your cover. Here's when to review your life insurance:

Marriage

Getting married often means having joint financial commitments with your spouse. You might need a higher level of cover to ensure that your partner will be supported if you are no longer around.

Parenthood

Welcoming a child is a joyful milestone but also a major financial responsibility. It is important to update your cover to safeguard the financial future of your new dependent.

Buying a home

A new home typically comes with a mortgage, so adjusting your cover can help your family to keep up their lifestyle in the event of your death.

Career changes

A significant salary increase or a new job often comes with a change in lifestyle, so you may need to reassess your policy to make sure your loved ones could maintain their current standard of living. Similarly, if you reduce your working hours, check your cover still meets your needs.

Regularly reviewing your life insurance ensures your loved ones are fully protected as your life evolves. Contact us today to keep your cover on track.

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

Life Insurance Myths Debunked

Tue, 18 Feb 2025 08:00:01 GMT

Life insurance is a vital safety net, yet misconceptions often prevent people from taking out protection. Here are some common myths:

“It’s too expensive”
Many believe life insurance is unaffordable, but policies are available for various budgets. Premiums can be surprisingly low, especially if you’re young and healthy. The cost of protection is often far less than the potential financial strain on loved ones left without it.

“I don’t need it yet”
Life is unpredictable, and delaying could mean higher costs or difficulty obtaining cover later. Securing life insurance early ensures protection is in place when it’s needed most.

“It’s too complicated”
Navigating life insurance may seem daunting, but you don’t have to do it alone. We can help you understand your options and tailor a policy to suit your family’s needs, ensuring you’re not paying for unnecessary extras.

“My employer’s policy is enough”
While workplace policies may offer some kind of support, they’re often limited and won’t follow you if you change jobs. It’s worth considering additional cover to fully safeguard your family’s future.

Get in touch for a discussion about life cover that ensures your family’s security without breaking the bank.

As with all insurance policies, conditions and exclusions will apply.

Home insurance premiums set to stabilise

Thu, 13 Feb 2025 08:00:01 GMT

Home insurance premiums set to stabilise

Home insurance premiums are showing signs of stabilising after a period of significant increases, according to new figures*.

Premium income for home and motor insurance has been rising sharply in recent years. In 2023 the growth rate was 8.8%, but in 2024 this slowed to an estimated 7.9% and is expected to keep easing in the coming years.

Easing pressures
Insurers had been grappling with rising claims costs due to inflation, supply chain disruptions and an increase in extreme weather events. However, market conditions have improved thanks to a reduction in interest rates. Premium income growth is therefore predicted to be 5.1% and 4.5% in 2025 and 2026 respectively – significantly closer to the average growth rate of 4% which was recorded between 2010-2019.

Market outlook
Experts predict that the trend of premium stabilisation will continue into 2025, bringing relief to policyholders who have faced steep hikes over the past two years. This shift may also encourage increased uptake of home insurance as affordability improves.

Get covered in 2025
Now is the perfect time to review your cover and ensure your home insurance policy still meets your needs. Contact us for professional advice.

As with all insurance policies, conditions and exclusions will apply

* EY, 2024

Freshen-upper' homes most popular

Tue, 11 Feb 2025 08:00:00 GMT

Freshen-upper’ homes most popular

Almost half (49%) of prospective buyers are looking for a ‘freshen-upper’ property, according to research*.

A ‘freshen-upper’ – a home that only requires small scale improvements – was found to be the most desirable property type. Meanwhile, a move-in ready property is popular among 22% of home movers due to its energy efficiency. Only 16% of buyers expressed an interest in ‘fixer uppers’, marking a shift away from major renovation projects. A quarter (27%) of respondents said this is because they don’t have time to make significant improvements to a home, highlighting the impact of busy lifestyles on home preferences.

Whatever type of home you’re buying, professional mortgage advice is essential.

Your home may be repossessed if you do not keep up repayments on your mortgage

*Jackson-Stops, 2024

UK Mortgage Approvals Rising

Thu, 06 Feb 2025 08:00:01 GMT

UK mortgage approvals rising.

Last October, mortgage approvals exceeded expectations and reached the highest level since August 2022*.

Liz Truss’ ‘mini budget’ in September 2022 caused mortgage approvals to plummet. Since then, the housing and mortgage markets have been slowly recovering, with the Bank of England tentatively reducing interest rates in recent months.

Statistics from October 2024 were promising, as there were 68,303 mortgage approvals for house purchases – up from 66,115 the previous month. Net mortgage lending also increased more than expected, reaching £3.435bn – the highest since September 2022. However, annual consumer credit growth slowed to 7.3% - its weakest rate since January 2023.

Your home may be repossessed if you do not keep up repayments on your mortgage

* Reuters, 2024

Affordability Pressures Ease for Buyers

Tue, 04 Feb 2025 08:00:00 GMT

Affordability pressures ease for buyers

Research* indicates that homebuying affordability has slightly improved in relation to income.

In the summer of 2022, the house price to earnings ratio reached a record high of 7.24. Since then, affordability has been slowly easing; in 2024, the average house price to earnings ratio went down to 6.55, compared to 6.62 in 2023.

Over the last year, house price inflation (+3.8%) has been outpaced by wage growth (+5%), which has driven the improvement in affordability. Also, the average cost of a new monthly mortgage has reduced by about 9% due to easing interest rates. As a result, mortgage costs as a percentage of income are now 29% – down from 33% the year prior.

Contact us for mortgage advice suited to you.

Your home may be repossessed if you do not keep up repayments on your mortgage

*Halifax, 2024

Life insurance - some top tips

Thu, 30 Jan 2025 10:00:00 GMT

Life insurance is essential protection, so it’s important that you get the most suitable cover for your needs and that you don’t make any mistakes that could jeopardise a future claim. Here are our top tips.

Don’t delay - get it now
Premiums are calculated based on a range of factors, including your age, general health, and smoking habits. So, the younger you are, the cheaper your premiums are likely to be.

Review regularly
Just because you have purchased life insurance once, it doesn’t mean you no longer have to think about it. It’s important to regularly check that you still have an appropriate level of cover, especially after experiencing significant milestones such as buying a house, welcoming a child or getting married.

Keep up your payments
Many insurers offer a grace period if you think you will miss a payment. But after that, a late payment could cause your policy to lapse, meaning you are no longer covered.

Find cover that suits you
Everyone’s circumstances are different. While it might be tempting to choose the cheapest policy, it may not give you the right amount of cover, which could leave your family in a precarious financial position in the event of your death.

Seek advice
As professional advisers we will explain your options and help you source the right level of cover. Get in touch for advice today.

As with all insurance policies, conditions and exclusions will apply.

How to protect your mortgage

Tue, 28 Jan 2025 18:00:00 GMT

If you’re buying a home, home insurance is not the only protection you will need – you should also consider insuring yourself so you are covered if you’re unable to work. There are a few different ways to do this.

Income protection
If you are unable to work due to illness or injury, income protection insurance provides a replacement income. This is typically 50% - 65% of your earnings rather than the full amount. There is a pre-agreed waiting period before you can start claiming the financial support from this insurance. The deferred period is decided at the time of purchase and can be anything from four weeks to a year. Once you have made a claim, your insurer will keep paying out until you retire, return to work or die – whichever is sooner.

Mortgage payment protection insurance (MPPI)
MPPI is a form of income protection which covers your mortgage repayments if you can’t work due to involuntary redundancy, illness or injury. MPPI can fully cover your monthly repayments as long as they don’t exceed 65% of your gross monthly salary. Most insurers will support you for up to 12 months or until you return to work – whichever is sooner.

Critical illness cover
Critical illness cover pays out a lump sum if you are diagnosed with a serious illness. The conditions and illnesses that are covered vary depending on the insurer but usually include cancer, stroke and heart attack. A payout could be used to replace any lost income that usually funds your mortgage. Once a payout has been made, the policy ends.

Life insurance
Life cover would provide financial support to your loved ones in the event of your death. Decreasing term insurance is designed to be used with a repayment mortgage; the value of your payout reduces over time to reflect the decreasing amount of debt you have left to repay. This usually only covers the cost of the mortgage, but it tends to be cheaper than other forms of life insurance. Level term insurance and whole of life cover both provide a lump sum that can go towards anything, including household bills, a mortgage and other living expenses.

Family income benefit (FIB)
FIB is a type of life insurance which provides regular financial support to your family if you die or are diagnosed with a terminal illness. Unlike other forms of life cover, your family would receive an ongoing monthly income instead of a lump sum. The policy lasts for a fixed period so if you die during the term, the insurer will make regular payouts until the end of the policy.

There are a range of ways to protect your mortgage, so we are on hand to help you decide what’s right for you.

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

Cost of home insurance is on the rise

Thu, 23 Jan 2025 18:00:02 GMT

Home insurance premiums are expected to keep rising as we head into 2025*.

It’s been another difficult year for insurers and consumers due to supply chain pressures, an increased number of payouts and a rise in the cost of claims. In Q2 2024, the cost of an average home insurance policy reached £396 – nearly a fifth higher than the previous year. It is expected that, over the course of this year, the average premium will have risen by 19%.

Experts have reflected that, when inflation surged in 2022, insurers wanted to keep their prices competitive so did not initially increase their premiums. However, it eventually became necessary to put their prices up, hence why many policy holders are feeling the pinch now.

As with all insurance policies, conditions and exclusions will apply

*EY, 2024

Don’t put your home insurance at risk

Tue, 21 Jan 2025 18:00:00 GMT

Don’t risk invalidating your home insurance – here are some mistakes to avoid.

Leaving your home vacant for too long
Most insurers require you to inform them if your home will be unoccupied for more than 30 days.

Failure to declare business activities
If you work from home, notify your insurer of any business equipment and activity taking place in your home. You may need to take out additional cover.

Renovating your home without informing the insurer
Major renovations can change the value and structural integrity of your property, so your insurance may need to be updated accordingly.

Neglecting routine repairs
Claims can be rejected if properties are poorly maintained, so don’t get behind with regular maintenance tasks.

As with all insurance policies, conditions and exclusions will apply.

House prices to keep growing in 2025

Fri, 17 Jan 2025 19:00:00 GMT

House prices are expected to stay on a positive trajectory over the course of 2025*.

House prices returned to growth in 2024, with prices increasing by 1.5% in the 12 months to October – an improvement on -1.2% the year before. The average UK house price is £267,000 and is expected to rise by 2.5% in 2025. Meanwhile, sales agreed are expected to increase by 5% to 1.15 million.

Promisingly, all regions and countries in the UK recorded positive annual house price growth in 2024, with Northern Ireland (6.3%) and North West England (2.9%) leading the way. In southern England, growth is still below 1% due to continuing affordability challenges.

Hoping to move home in 2025? We’re here to help.

Your home may be repossessed if you do not keep up repayments on your mortgage

*Zoopla, 2024

Housing Market 2024 - A Summary

Tue, 14 Jan 2025 19:00:00 GMT

Housing market 2024 – a summary

2024 was a significant year for the UK property market; Labour’s landslide general election win ended 14 years of Conservative rule in Britain, plus the Bank of England reduced interest rates in August after being held at 5.25% for a year. Here’s a roundup of the housing and mortgage markets at the end of 2024.

Recovery in sales

Buyer and seller confidence grew in 2024 with the promise of reduced interest rates. The end-of-year sales pipeline was the highest in four years*, with 283,000 sales expected to reach completion in the first half of 2025. In the first 11 months of 2024, estate agents agreed an average of 6.1 sales per month – the highest number since 2021. Despite this increase in sales, house price growth remained muted, with Amanda Bryden, Head of Mortgages at Halifax commenting that “many potential buyers and movers still face significant affordability challenges and buyer confidence may be tested against a changeable economic backdrop”.

A buyer’s market

2024 was a buyer’s market and it is expected to remain that way in 2025. In the first half of 2024, there was some improvement in market conditions, with buyers more willing to pay over the asking price. But price sensitivity returned after the Autumn Budget and buyers are currently paying 3.6% below the property’s asking price.

First-time buyer activity

First-time buyers (FTBs) do not currently pay any Stamp Duty on properties worth up to £425,000, however this threshold hold will revert to £300,000 in April 2025. This policy change, confirmed in the Autumn Budget, has created urgency among FTBs, particularly those buying in regions where houses are more expensive. From April, only 8% of homes in London will be exempt from Stamp Duty for FTBs**, so FTB demand has understandably increased in the capital. Tim Bannister, Rightmove’s property expert, advised, “We may see some negotiation tactics play out, particularly on properties close to the £300,000 mark, as both buyers and sellers try to mitigate their higher costs through the price agreed.”

Mortgage market

The reduction in Bank Rate in August 2024 came as a welcome relief to borrowers, but affordability remains a challenge for many buyers – particularly for those with smaller deposits. In December 2024, the average fixed mortgage rate was 4.83% for five years and 5.08% for two years, and Rightmove predicts that rates could fall to around 4.0% in 2025. While this is an improvement on spikes of 5-6% in 2023, it would still be significantly higher than pre-pandemic levels.

We’re here to help you make informed decisions about your property plans. Contact us to explore how the latest market trends affect your housing journey.

Your home may be repossessed if you do not keep up repayments on your mortgage

* Zoopla, 2024

** Rightmove, 2024

Transactions expected to surge in early 2025

Thu, 09 Jan 2025 19:00:00 GMT

Transactions expected to surge in early 2025

Property experts predict a surge in transactions early in 2025 ahead of Stamp Duty changes in April.

In the 2022 mini-budget Stamp Duty thresholds were increased, so in the last two years homebuyers have paid a reduced amount of tax. However, in the Autumn Budget 2024, Chancellor Rachel Reeves confirmed that the thresholds will revert to their previous levels on 1 April 2025.

Increased thresholds

Currently, first-time buyers (FTBs) do not have to pay Stamp Duty on properties costing up to £425,000 but this threshold will return to £300,000 from Q2 2025. For all other homebuyers, the threshold will fall from £250,000 to £125,000.

Market impact

The increased thresholds are likely to cause a surge in purchases in Q1 2025 as buyers rush to complete, followed by a slowdown in transactions in subsequent months. Meanwhile, Nationwide expects that the tax changes will affect one in five FTBs. Robert Gardner, the bank’s Chief Economist, explained that “the impact will vary significantly across the country, largely as a result of the difference in house prices across the UK”.

We can help you understand what the latest tax changes mean for you and your property plans – contact us for advice.

Your home may be repossessed if you do not keep up repayments on your mortgage

FTBs unaware of support

Tue, 07 Jan 2025 19:00:00 GMT

FTBs unaware of available support 

Many first-time buyers (FTBs) are not aware of affordable homeownership schemes that could help them get on the property ladder, research* has found.

A recent survey asked renters in London about their perceived barriers to homeownership.

Nearly half (48%) cited affordability as a key obstacle to buying their first home, while a quarter (23%) believed that there is a lack of schemes to support FTBs.

Shared Ownership

The research highlighted a knowledge gap regarding Shared Ownership, which offers first-time buyers a more affordable route to homeownership. In this scheme, the buyer purchases a share of a property (between 10% and 75%) from an organisation such as a housing association or local council. The purchaser will then pay a mortgage on the proportion that they own and pay rent on the rest. There is the option to buy more shares of the property in future - a process called ‘staircasing’.

Lack of awareness

According to the research, even though 86% of respondents had heard of Shared Ownership, only half could explain what it is. Also, 37% think the scheme is too complicated which is stopping them from using it. An advantage of Shared Ownership is that the buyer will usually need to pay a lower deposit as they are only buying a proportion of the property. Since affording a deposit is a key challenge faced by FTBs, the research suggests that information about Shared Ownership should be more widely accessible.

Deposit difficulties in the capital

Affording a deposit is a particular challenge in London, where house prices are notably high. Flats and maisonettes have therefore become popular choices among FTBs in the capital; however, the average price of this property type is still high (£436,902)**. A 10% deposit on the average London flat would therefore cost £44,000 but 81% of those surveyed said they cannot afford to pay more than £40,000. In fact, on average respondents could only afford to pay £22,963 upfront. The research found that women are disproportionally affected by this barrier, as single men have saved £11,500 more than their female counterparts.

Going to great lengths

Prospective FTBs in London are going the extra mile to achieve their property dreams. Half (48%) of 18 to 24-year-olds surveyed said they plan to work more in order to afford a deposit. Many have resorted to the Bank of Mum and Dad, with a quarter of 35 to 44-year-olds relying on financial support from their parents.

We’re here to help

Buying your first home can be daunting, but we are here to guide you through it. We can help you understand what you can afford and advise on schemes that could help you get on the property ladder.

Your home may be repossessed if you do not keep up repayments on your mortgage

* NHG Homes, 2024

** HM Land Registry, 2024

What are buyers looking for?

Fri, 20 Dec 2024 19:00:00 GMT

A survey of homebuyers and movers has offered an insight into what the nation wants from the new Labour government.

Access to longer mortgages

A third of respondents said they want better access to long-term fixed mortgages*. Despite this, only 8% would be prepared to take out a 10-year fixed deal now – likely due to high mortgage rates at the moment.

Adjusting to higher rates

The report indicated that buyers are generally adapting to the higher mortgage rates, with 37% saying their buying plans were unchanged – up from 29% in February.

Contrary to government plans

Many of the desires expressed in the survey were not in line with government’s plans. The Freedom to Buy initiative is set to be introduced soon, but only 26% of respondents wanted help for first-time buyers.

Iwona Hovenko at Bloomberg Intelligence observed, “Almost half of respondents in our survey seek a cut in Stamp Duty from the government, but we don’t see this as likely in the near term. The desire was strongest among movers and buyers in Southern England, due to disproportionately high taxes on pricier homes.”

We can help you find the right mortgage, based on your specific circumstances. Get in touch for advice.

Your home may be repossessed if you do not keep up repayments on your mortgage

*Bloomberg Intelligence, 2024

Don’t price your home too high

Wed, 18 Dec 2024 19:00:01 GMT

Recent data has highlighted the negative impact of pricing your home too high.

It can be tempting to put your property up for a high price, with a view to reducing it further down the line. But the reality is, cutting the asking price of a property comes at a cost. Analysis of sales over the last five years has shown that properties that have had a price reduction are twice as likely to have the transaction fall through and take three times as long to sell than homes that have not been discounted*.

If you do need to reduce the price, data suggest it is better to do so sooner rather than later. Nearly 60% of homes that cut the asking price within two to four weeks manage to ultimately sell. However, fewer than 53% of homes sell if they are reduced after eight weeks of going on the market.

*Rightmove, 2024

Conditions slightly improved for FTBs

Mon, 16 Dec 2024 19:00:02 GMT

The average monthly mortgage bill for first-time buyers (FTBs) has reduced over the last year, according to recent figures*.

Monthly repayments for FTBs now average £949 a month, having reached £1,096 in July 2023. This is based on the cost of a property with two bedrooms or fewer, with a 30-year mortgage term and 20% deposit. The reduction is partly due to the fall in the CPI inflation rate, which decreased from 6.8% in July 2023 to 2.2% in July 2024.

FTBs in London will have experienced the most significant drop in their monthly mortgage bill, but they are still likely to be paying more than other areas of the UK. Average UK wages went up by 4% year-on-year, which has also helped improve affordability.

Your home may be repossessed if you do not keep up repayments on your mortgage

*Rightmove, 2024

Hoping to clear your mortgage?

Fri, 13 Dec 2024 19:00:01 GMT

Early repayment charges

Most lenders charge an early repayment fee, so it’s essential to know what yours would be. You might work out that, despite the charge, clearing your mortgage is still the right option as you would save more money in interest costs. But if your mortgage is coming to an end soon, you may decide that the early exit fee is not worth it.

Where else could the money go?

If you can afford to pay off your mortgage, consider first if there are any other places you could put the money – such as pensions or savings, where you could get more in interest than you would pay on your mortgage.

Alternatively, there may be other more expensive debts you could repay, such as credit cards or vehicle finance. Even though they might be smaller loans, the interest is often higher so it’s normally advisable to pay them off before your mortgage.

Repayment methods

Paying off your mortgage in one lump sum is not the only way to clear the loan early. You might choose to remortgage to get better rates as you would likely have a smaller loan-to-value (LTV) than before. You could also make overpayments, if permitted – most lenders allow you to overpay up to 10% each year penalty-free. Or, you might consider switching to an offset mortgage, which uses the money in your savings account to reduce the total interest that you are charged.

Timing it right

With further cuts expected to Bank Rate, you need to choose the best time to pay off your mortgage. Overpaying when interest rates are low would mean you have less to pay in future if interest rates go up again. Also, if your mortgage interest is charged daily, it’s advisable to make an overpayment as soon as you can. But if it’s charged annually, you should make the overpayment at a time when it counts towards the calculation of interest for the year.

Here to help

With many factors to consider, it’s essential to seek professional advice before attempting to pay off your mortgage. We will help you to make an informed decision by explain your options and their respective implications. Contact us for advice today.

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

Mortgage approvals on the up

Wed, 11 Dec 2024 19:00:01 GMT

Consumers are continuing to rebuild their confidence, with mortgage approvals hitting the highest level in nearly two years*.

In July 2024, there were 62,000 new house purchase mortgage approvals - a 2.3% monthly rise and the greatest number since September 2022, when there were 65,100 approvals. Consumer mortgage lending has also reached highs we haven’t seen in a while; borrowing hit £2.8bn in July, having last peaked in November 2022 at £3.3bn. However, remortgage approvals have been on a downward trend since March - they fell by 8.1% in July to 25,100.

If you’re moving home or looking to remortgage, get in touch.

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

*Bank of England, 2024

Promising house price growth

Mon, 09 Dec 2024 19:00:00 GMT

The UK housing market is showing signs of resilience, as August saw the fastest pace of annual house price growth since December 2022*.

Even though house prices fell by 0.2% month-on-month in August, yearly growth was 2.4%. This is still about 3% lower than the record highs seen in the summer of 2022, however the improvement on last year suggests that the market is recovering.

Nationwide’s Chief Economist, Robert Gardner, commented, “Providing the economy continues to recover steadily, as we expect, housing market activity is likely to strengthen gradually as affordability constraints ease through a combination of modestly lower interest rates and earnings outpacing house price growth.”

Your home may be repossessed if you do not keep up repayments on your mortgage

* Nationwide, 2024

A surge in house prices

Fri, 06 Dec 2024 19:00:00 GMT

Nationwide’s House Price Index shows that house prices picked up in September, with the highest annual increase since November 2022*.

The average house price rose to £266,094 in September – a monthly uptick of 0.7% after prices fell by -0.2% in August. Annual growth hit 3.2%, having previously peaked at 4.4% in November 2022. However, prices are still 2% lower than the record highs seen in summer 2022.

Regional variations

Scotland saw a significant increase in Q3, with prices increasing annually by 4.3%, while England experienced more modest growth of 1.9%. The North West was the strongest performing region of England, with prices rising by 5% annually. In general, Northern England (3.1%) continued to display stronger growth than the south (1.3%). Meanwhile, East Anglia was the only region in the UK to experience a drop in prices in Q3, with a 0.8% annual fall.

Property types

Over the last year, terraced houses have increased the most in price. However, detached properties have risen the most in the long run, with a 26% surge since Q1 of 2020. Flats are lagging behind since the pandemic, with an increase of only c15%.

Your home may be repossessed if you do not keep up repayments on your mortgage

* Nationwide, 2024

Mortgage approvals hit a two-year high

Wed, 04 Dec 2024 19:00:01 GMT

Recent data* has revealed that, in August, mortgage approvals hit the highest level in two years.

An increase in net approvals

Net mortgage approvals rose for the third consecutive month in August, reaching 64,900 – the highest since August 2022 which saw 72,000 approvals. This uptick will be promising news for the housing market, as mortgage approvals are indicative of future borrowing. The number of remortgage approvals also increased to 27,200.

A rise in lending

Lending has also risen; in August, individuals borrowed a net total of £2.9bn of mortgage debt – a marginal increase on the previous month (£2.8bn). Plus, the annual growth rate for net mortgage lending rose for the sixth month in a row, reaching 0.7% - the highest since August 2023 when annual growth was 1.0%. Meanwhile, gross lending increased month-on-month by £0.3bn to £19.9bn in August 2024, and gross repayments went up by £1.3bn to £18.4bn over the same period.

Get in touch

Are you looking to mortgage or remortgage? Whatever your circumstances, we are here to help - contact us for professional advice.

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

*Bank of England, 2024

When to buy your first home

Mon, 02 Dec 2024 19:00:00 GMT

Buying your first home is likely to be one of the biggest financial commitments you’ll be making in your life so far. So, how will you know when is the right time to take the leap? Here’s what you need to know about the housing market now.

Will house prices come down?

House prices have increased over the past year, largely due to limited supply. Most experts expect that house prices will continue to rise over the next year, albeit at a slower pace. Despite this, data suggests that first-time buyers (FTBs) are prepared to spend £3,400 more on a property than they were last year*. For those buying outside of London, a 3-bed house is the most popular choice for a first home.

The cost of borrowing

Mortgage rates are predicted to fall incrementally in 2024 and beyond, in line with reductions to Bank Rate. Average rates have already come down in the last year, having reduced to 4.5% in September 2024 from 5.7% in 2023 (based on a five-year fixed rate mortgage with 75% LTV). However, it is important to note that, in the long run, experts expect that ‘the new normal’ mortgage rate will be between 3.5% and 4.5%**.

The recent improvement in mortgage affordability means that monthly repayments for a typical FTB have also gone down - from £1,076 to £9791. But, with FTBs opting for more expensive homes, they still require a higher income than a year ago to achieve their property dreams.

What are you currently paying?

The right time for you to buy a property will depend on your current circumstances. If you are renting, you may decide that you don’t want to delay purchasing a home, as the average rent for new lets went up by 5.4% in the year to July 2024. On the other hand, if you are currently paying little or no rent, you may wish to keep saving to maximise the deposit you could put down.

Know what you’re looking for

There’s never going to be a perfect time to buy – instead, it’s about timing it right based on your needs. It’s advisable to know what you want from your first home – number of bedrooms, garden space, location, proximity to amenities, space for children or a pet etc. Plus, you should work with a qualified financial adviser to understand how much you can afford to spend, based on your income and any savings you may have. This will help you ascertain what is realistically achievable. You will then be better placed to make an informed decision if a property comes up that could be a good fit.

Lenders speed up mortgage processing

Fri, 29 Nov 2024 20:00:06 GMT

Mortgage lenders are making efforts to speed up their Application to Offer process*.

According to a survey that explores the use of technology during the mortgage journey, all types of lenders have reduced the time it takes to process an application this year. High street lenders are the most efficient (10 days), with larger societies following closely behind (11 days). Smaller regional lenders have cut down their time down to 19 days, having been at 25 in 2022. Meanwhile, challengers and specialist lenders now take an average of 28 days. When lenders were asked how satisfied they were with their levels of automation, 94% scored themselves with a 3 or 4 out of 5 – up from 78% of respondents last year.

Your home may be repossessed if you do not keep up repayments on your mortgage

*finova, 2024

UK Finance calls for housing reform

bekkiwatts@hotmail.co.uk (Rebecca Geer) — Mon, 25 Nov 2024 19:59:27 GMT

UK Finance has made recommendations on how the government can reduce the housing shortfall of 4.3 million.

The report proposes that the current nil-rate band on Stamp Duty remains at £425,000, to help first-time buyers get on the property ladder. It calls for support for last-time buyers too, recommending a Stamp Duty exemption to make it more affordable to downsize. UK Finance also suggests improved access to shared ownership schemes.

The trade association commented, ‘The new government has acted quickly to encourage more housebuilding and ensure that affordable housing is a key part of its new targets. However, the progress needed will not be achieved without cooperation across the public and private sectors.’

Your home may be repossessed if you do not keep up repayments on your mortgage

Check you have the right protection in 2023

Sun, 05 Feb 2023 09:00:02 GMT

Check you have the right protection in 2023

The start of a new year is an ideal time to reassess your finances. Protection should be near the top of your list in 2023.

Get protected

The right protection for your unique needs is an indispensable safety net against any unexpected downturn in your financial situation.

As we head into 2023, ask yourself if the level and type of cover you have is still suitable for your needs. If your circumstances have changed, you might need to update your cover.

New year, new challenges

In 2023, with a challenging economic climate causing cost-of-living difficulties for many, it is especially important to make sure everything’s in order.

We know that soaring prices and bills are making things difficult for many people right now. That’s why it is more important than ever to consider the role protection plays in your financial plan.

Think carefully

Take time when assessing your finances. As well as leaving you and your loved ones without essential cover, if you cancel your protection now then take out a new policy in the future, it will more likely than not end up costing you more.

Having the right protection in place provides certainty in the most challenging times. Contact us today to see how we can help.

As with all insurance policies, conditions and exclusions will apply

Mixed bag for housing in 2023

Fri, 03 Feb 2023 15:43:30 GMT

Unpredictability was certainly a theme for UK housing in 2022, with political turbulence, Bank Rate hikes and shifting post-pandemic supply and demand patterns all contributing to an uncertain and fast-changing market. As we move in 2023, questions still abound.

House prices to fall

Foremost among these questions is – how far will house prices fall?

Following three pandemic-influenced years of growth, prices are widely expected to go into reverse in 2023. The astronomical year-on-year rises of 16% in July 2022 and 13.6% in August 2022 are highly unlikely to be repeated in the coming years ¹ .

Instead, latest forecasts expect house prices to slide by about 8% next year ² . Likewise, estate agent Savills predicts a 10% fall in house prices in 2023 before a return to growth from 2024 onwards.

Sellers are already adjusting their expectations, settling for offers below their asking price. Rightmove anticipates a fall in average asking prices of about 2% in 2023, after a 5.6% increase last year took the average £17,000 higher than in 2021.

Demand is key

The exact extent of the fall in house prices will depend on the various factors that influence supply and demand. In 2022, as demand waned, house prices remained resilient due to limited supply. Supply is not expected to increase much in the coming years, analysts warn.

Demand could receive a boost from the raising of the nil-rate threshold of Stamp Duty in parts of the UK. A similar scheme helped spark the buying spree in 2020 and 2021, though the economic conditions are much changed since then.

Some pandemic factors could still impact on house prices in 2023, including the rise of home working driving demand for more space and a home office. Cost-of-living concerns, meanwhile, could deter buyers. That said, if a modest decline in house prices takes place, with possible regional variations, desire to buy could be accelerated in some places.

A new era

Another key question heading into 2023 is – will average mortgage rates keep rising?

Mortgage rates rose sharply after the ‘mini-budget’ of September 2022. Although they are now significantly higher than at the start of last year, average rates are expected to settle in 2023.

Having reached 3.5% in December 2022, further Bank Rate rises are likely at the start of 2023, though these might slow or stop as the year progresses. The ultra-low interest rates of the past decade seem to be over, with mid-single digits now the norm. For mortgage holders, the new reality of higher rates will obviously have an impact on already-squeezed household finances.

Your future

With economic conditions still challenging for many, we can guide you through the busy market and help you stay focused on your goals in 2023.

Your home may be repossessed if you do not keep up repayments on your mortgage

¹ Office for National Statistics, 2022

² Halifax, 2022

More positive news for first time buyers as Metro Bank returns to the 90% LTV market.

bekkiwatts@hotmail.co.uk (Rebecca Geer) — Fri, 17 Jul 2020 08:02:09 GMT

Metro Bank Returns to the 90% Market

Metro Bank has reintroduced a range of 85% and 90% LTV residential mortgage products.

The range includes an 85% LTV five-year fix at 2.99% and a 90% LTV five-year fix at 3.29%, both with a £999 product fee.

The products are available for purchase or pound-for-pound remortgage on a maximum property value of £600,000.