Many hopeful homeowners could be closer to getting on the property than they realise, but they are underinformed about their mortgage options. A survey by the Building Societies Association (BSA) has found that nearly half (47%) of people who want to buy a home have never spoken to a lender or mortgage broker. This means that many prospective first-time buyers (FTBs) don’t fully understand what’s available, so could be missing out on an opportunity to become a homeowner. Even those who have sought advice might have outdated information - 46% of those who have previously explored their mortgage options have not done so in the last year. The mortgage market is constantly evolving in response to interest rates, so there may be new products that better suit their circumstances. Without up-to-date information, buyers risk ruling themselves out unnecessarily. Could homeowning be closer than you think? There is a common perception that now is a particularly difficult time to be a first-time buyer. While affordability is a challenge, perhaps some hopeful homeowners are more pessimistic than they need to be. When survey respondents were presented with mortgage options that require little or no deposit, two thirds (67%) said they could potentially purchase a home sooner than they had thought. This highlights a clear gap between perception and reality, with many prospective FTBs jumping to conclusions without doing the market research. Main barriers to homeownership According to the research, affordability remains the most widely cited obstacle to homeownership, with 64% identifying this as a challenge. Meanwhile, 53% said that saving for a deposit was a key issue, with 59% reporting less than £10,000 in savings. Due to these financial challenges, a third (32%) of respondents believe they will never be able to own a home. Don’t give up Paul Broadhead at the BSA commented, “Too many aspiring first-time buyers assume homeownership is off the table without ever checking what is actually available to them. This research shows that’s a mistake. When people explore the kinds of mortgages building societies offer, many realise they could buy sooner than they thought. A simple conversation with a building society or mortgage broker could open doors that you may not realise were there.” Start the conversation Your homeownership dreams could be closer than you realise, so get in touch for advice. We can access products that you wouldn’t necessarily be able to find on your own. We can also advise if you are eligible for any government schemes that will help you get on the property ladder. Your home may be repossessed if you do not keep up repayments on your mortgage. Source: https://moneyage.co.uk/47-of-aspiring-buyers-have-never-spoken-to-mortgage-broker-study-finds.php

Analysis suggests that many UK homeowners don’t have the correct level of insurance, regardless of their property’s value. According to the research, most Brits are either paying too much or too little for their home insurance. Concerningly, only 7% of UK properties are accurately insured, while 70% are underinsured and 23% are overinsured. Understanding rebuild costs The level of cover you need is based on the hypothetical cost of completely rebuilding your home if it was completely damaged. This helps the insurer to ascertain the maximum amount they would need to payout in the worst-case scenario. The rebuild cost can often be confused with the sale price of your home, but these are very different figures - for insurance purposes, you need to consider the price of labour, materials and other associated costs. Lower-value properties Owning a lower-value home does not necessarily mean it’s easier to insure accurately. In fact, these properties are the most likely to be uninsured – the research shows that 78% of properties insured for between £250,000 and £750,000 do not have sufficient cover in place. This shortfall is often because homeowners rely on rough estimates of the rebuild costs, rather than obtaining a professional assessment. Over time, rising construction costs could cause this shortfall to widen further, increasing the amount that the policyholder has to pay in the event of a claim. Higher-value properties At the other end of the market, overinsurance becomes more common as sums insured rise. Among properties insured for between £5m and £10m, 49% are overinsured, while 41% are uninsured. This suggests that, as property values rise, homeowners become more cautious about underinsurance and, as a result, overestimate rebuild costs. While this approach may feel safer, it can lead to unnecessarily high premiums. Expert opinion Johnny Thomson, Head of Strategic Planning at RebuildCostASSESSEMENT.com, commented, “These findings reinforce the need for regular rebuild cost assessments at every level of property value. Accurate valuations remove uncertainty, support better decisions, and help ensure claims outcomes meet expectations.” Seek advice It doesn’t matter how much your property is worth – the research indicates that inaccurate insurance is a problem across the board. Seeking professional advice now could save you from paying more than you need or prevent an expensive surprise when you make a home insurance claim. Get in touch with us to review your level of cover. As with all insurance policies, conditions and exclusions will apply Sources: https://www.rebuildcostassessment.com/post/why-insurance-accuracy-fails-at-every-level-of-property-value

Recent research has found that half of UK homes increased in value last year. According to Zoopla, 15.2 million properties gained value by an average of £9,900 in 2025. Within this group, 3.1 million homes saw particularly strong growth, rising by more than £20,000. In contrast, 9.1 million households saw a decrease in value by an average of £10,800. In England, the North West recorded the highest proportion of homes rising in value (72%), followed by the North East (67%). The South West reported the largest share of homes losing value (46%), closely followed by the South East (44%). Despite some areas dropping in value, the longer-term picture is more positive for households across the UK; between 2020-2025, the average seller saw their house increase in value by an average of 20%. Source: https://business.zoopla.co.uk/half-of-all-uk-homes-gained-value-in-2025

A survey has found that many homeowners don’t review their protection cover when remortgaging. Only 18.6% of respondents said they properly reviewed their protection when they remortgaged, while 64% did a cursory check and 17% did not review their cover at all. This suggests that many UK homeowners may have policies that no longer meet their needs due to changes in income, lifestyle and family circumstances. As a result, some households could find themselves in a vulnerable financial position if they were affected by death or illness. Take a moment to review your cover now – it could be a vital safety net in the future. As with all insurance policies, conditions and exclusions will apply. You may have to pay and early repayment charge to your existing lender if you remortgage Source: https://www.vitality.co.uk/media/speculation-of-spring-rate-cuts-drives-expected-remortgage-surge/

It’s important to ensure that you and your family have the right level of protection, without paying more than is necessary. Everyone is different and will require their own amount of protection cover to reflect their specific needs. It’s therefore strongly recommended that you work with a professional adviser like ourselves who can source a policy that is tailored to you. The cost of your protection will depend on a range of factors, including your health, the amount of cover required and the policy term. If you’re concerned about affording cover, it’s important to consider what is most important to protect. For example, life insurance is essential for families – it can give you peace of mind that your partner and children would be financially supported in the event of your death. However, someone who doesn’t have dependents might choose to prioritise income protection insurance, so they have a safety net if they are unable to work due to illness or injury. Circumstances can easily change, so it’s important to review your policy regularly. As your needs evolve, we can help you to adjust your policy accordingly. As with all insurance policies, conditions and exclusions will apply. Source: https://www.moneyhelper.org.uk/en/everyday-money/insurance/how-much-does-protection-insurance-cost

Insurers paid out a record amount in property claims last year, but the average cost of home insurance declined in Q4. According to the ABI, claims payouts reached new highs last year, costing home insurers a total of £6.1bn. This is mainly due to a rise in storm and flood damage, with weather-related claims accounting for £1.2bn of payouts in 2025 (14% more than the previous year). Within this, storm payouts totalled £244m, up 32% annually, with the average payout reaching £2,450. Despite this, the average price of home insurance declined by just over 1% in the final quarter of 2025. While this will be a relief for policyholders, premiums are still an average of £29 higher than in Q4 2023. As with all insurance policies, conditions and exclusions will apply Source: https://www.which.co.uk/news/article/whats-happening-to-home-insurance-premiums-a3EjJ5O6GVvP

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

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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/

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

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