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

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/

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

If you find it difficult to understand leasehold and freehold, you’re not alone. Research has found that leasehold is the UK’s most confusing property term, with the term generating over 160,000 Google searches in the last year. Freehold was second on the list, accounting for 114,000 searches. Most flats are sold as a leasehold, meaning that you own the property for a fixed period, but not the land it sits on. The lease will have a fixed term, usually between 90 and 999 years. With freehold property, you own the building and the land. Most houses are freehold, although there are some that are leasehold, often through Shared Ownership schemes. Most people generally prefer freehold, but it means that you are responsible for maintaining all aspects of the land and property. Sources: https://www.propertyreporter.co.uk/leasehold-tops-the-list-of-most-confusing-property-terms.html

Over the last year, house prices have increased 5.3 times faster than the rate of earnings. The average house price has increased by £10,087 to £271,403. However, the typical annual salary has only gone up by £1,921 to £40,334. The East of England and the East Midlands have experienced the most significant disparity, with house prices outstripping earnings by 6.7 times. Scotland (6.4 times), Wales (6.3 times) and Yorkshire and the Humber were also significantly affected (5.8 times). Despite London experiencing slower house price growth and higher salary levels, prices have still increased 4.7 times faster than average earnings. The gap was relatively smaller in the North West (3.8 times), South East (3.7 times) and South West (3.3 times), although there is still a noticeable difference. Sources: https://todaysconveyancer.co.uk/average-house-price-increased-5-3-times-salaries-year/

Recent data has highlighted the importance of protection insurance as it continues to support people in times of need. In 2024, protection insurers paid out a record £8bn in combined group and individual claims. This means that £21.9m was paid out every day to policyholders suffering from illness, injury or bereavement. Average payout increasing Last year, £5.32bn in protection claims was paid out across individual life insurance, income protection and critical illness policies. This is 10% higher than the total value of claims paid in 2023, even though the number of individual claims was broadly the same at 275,000. The average payout increased by 10% to £18,700, up from £17,100 the previous year. The importance of critical illness cover Critical illness cover serves as vital protection for those with a serious illness such as cancer, a heart attack or stroke. In 2024, the total value of critical illness claims increased by 5% to £1.3bn. The average claim paid was £67,600 – this is a significant lump sum which helps alleviate the financial burden on policyholders, allowing them to focus on recovery without worrying about money. Cancer remains the leading cause for a critical illness payout, accounting for 62% of all claims. Total payouts for the condition went up by 4% to £812m. Income protection provided essential support Income protection makes regular monthly payments if you’re unable to work due to illness or injury. It is designed to replace some of your income, helping you to cover regular expenses such as your mortgage, bills and other living costs. Figures show that this form of protection continues to support policyholders across the UK until they return to work, retire or reach the end of their policy term. The value of income protection claims has increased by 16% year-on-year to £204m. The typical payout rose to £10,000, up 6% on the previous year. Musculoskeletal issues such as neck and back pain were the most common reason for an individual income protection claim, representing a third (34%) of claims paid. High proportion of claims result in payout Over the last decade, the proportion of new individual claims paid has stayed at 97.9% or above. The main reasons for declined claims were non-disclosure of pre-existing medical conditions at the time of taking out the policy and claims not meeting the policy definitions. It’s therefore essential to be transparent with your insurer about your health and make sure you understand when you will be covered. Here to help We can help you choose a policy that is tailored to your needs and meets your budget. As with all insurance policies, conditions and exclusions will apply. Your home may be repossessed if you do not keep up repayments on your mortgage. Sources: https://www.abi.org.uk/news/news-articles/2025/7/record-8bn-paid-out-in-vital-protection-claims-during-2024/

An index has found that average quoted home insurance prices are decreasing. Competition across the insurance market is rising, resulting in insurers quoting lower prices. Over the last year, quoted premiums have decreased by 7.9%, with most premiums quoted between £150 and £199. In June, 62.5% of consumers had the potential of sourcing quotes for less than £200, up from 56% the year before. Premiums have fallen for properties of all ages, but the biggest decrease was seen in homes built between 1925 and 1940, and between 1985 and 2000. Meanwhile, the North East is the region with the biggest drop (-10.5%) in quoted premiums while the South West has seen the smallest fall (-2.0%). As with all insurance policies, conditions and exclusions will apply. Sources: https://uk.finance.yahoo.com/news/quoted-home-insurance-premiums-fall-230100843.html?guccounter=1

A concerning number of people have insurance policies that they have forgotten about or can’t access. There are an estimated 3.4 million dormant insurance policies in the UK, valued at £8.1bn. This works out at an average of £2,366 per policy, which is the equivalent of two months average mortgage payments. This means many could have missed out on vital financial support when they really need it. In most cases, the policies have been lost or forgotten as life changes, whether that’s due to a house move, marriage or divorce. It’s therefore essential to review existing policies to make sure you don’t miss out on any claims you’re entitled to. As with all insurance policies, conditions and exclusions will apply. Your home may be repossessed if you do not keep up repayments on your mortgage. Sources: https://protectionreporter.co.uk/my-dad-is-83-he-keeps-his-policy-documents-in-a-box-at-home-how-can-firms-locate-and-contact-gone-away-customers.html

The Conservatives have pledged to abolish Stamp Duty Land Tax (SDLT) on people’s main homes if they return to government. It’s a bold promise that could save buyers thousands — but what does it really mean for you and the Brighton & Hove property market ? What’s Stamp Duty Again? Stamp Duty is a tax you have to pay when you buy a property in England. The amount you pay depends on the price of the property: For home movers (not first-time buyers): If you buy a home for £200,000, you pay £1,500 in stamp duty. If you buy for £300,000, you pay £5,000. If you buy for £400,000, you pay £10,000. For first-time buyers: There’s a special discount called “first-time buyer relief.” If the property costs up to £300,000, you pay no stamp duty. If it’s over £300,000, you pay 5% on the amount above £300,000. For example, if you buy for £400,000, you pay 5% of £100,000 (which is £5,000). Why does this matter? Stamp duty is a significant extra cost for buyers in Brighton & Hove, on top of your deposit and other fees. It can make buying a home more expensive and is something you need to budget for when planning a purchase. What the Conservatives Are Proposing Their plan would: Scrap Stamp Duty completely for anyone buying their main home. Keep it for second homes and investment properties. Save typical buyers in Brighton & Hove thousands of pounds , since local property prices often fall well above the national average. Why It Sounds Appealing Makes moving easier – People might be more willing to move without worrying about a hefty tax bill. Helps first-time buyers – Less tax means lower upfront costs and potentially smaller deposits. Encourages activity – The housing market could see more movement and more available homes. But There Are Some Catches It’s still a pledge, not policy – The plan would depend on election results and the government’s finances. House prices could rise – If buyers save thousands on tax, sellers may simply raise asking prices. Big cost to the Treasury – Stamp Duty brings in billions each year, so scrapping it entirely may be difficult to sustain long-term. What This Means for Brighton & Hove In high-value areas like Brighton & Hove, this change could save buyers tens of thousands of pounds and encourage more local moves. But with strong demand and limited housing stock, it might also push prices up further — something to keep in mind if you’re planning a purchase soon. Final Thoughts Whether or not it happens, this pledge has already got people talking. If Stamp Duty is scrapped, Brighton & Hove buyers could see big savings and a livelier market — but we’ll have to wait and see if the promise becomes reality.

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.

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