Going through a divorce can be a very challenging time for you and your family; on top of the emotional stress of separation, there are many practical logistics for you to deal with. Amidst all this, it can be easy to forget about life insurance, but your policy won’t change automatically when you divorce, so it’s important to review it as soon as you can. If you have an individual policy… Even if you and your former partner had separate life insurance policies, you will still need to inform your insurer of your change in circumstances. Divorce can significantly affect your financial situation, so you will need to check if you have the right level of cover for your new lifestyle. You may also wish to review your beneficiaries. If your ex-spouse is still listed, they may remain entitled to a payout unless you update your policy. If you have a joint policy… A joint life insurance will remain in place until you make any changes to it. What you can do next will depend on your insurer and the terms of your policy. In some cases, it may be possible to split the joint policy into two individual policies. If you are not able to do this, there are other options… If your insurer allows it, you could arrange for either you or your ex-partner to take over the existing policy, while the other arranges new cover in their own name. Alternatively, you could cancel the joint policy altogether and both take out new individual cover. However, this may cost more as premiums are typically higher with age. You may also need to submit your medical history again. Plus, if your policy was written in trust, you will need permission from all the trustees before cancelling your cover. Your mortgage and life insurance If your joint life insurance helps protect your mortgage, you and your partner will need to decide what to do next. The person who stays living in your home may be able to take over the policy, but it’s important to ensure the level of cover still matches the outstanding mortgage and their financial circumstances. If the existing policy is no longer suitable, replacing it with a new one that reflects current needs may be necessary. We’re here for you If you’re unsure how your divorce affects your life insurance, speaking to a professional adviser can help you make informed decisions. Get in touch with our team today to review your policy and 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. Source: https://www.legalandgeneral.com/insurance/life-insurance/family/life-insurance-after-divorce/

Escape of water is an increasingly common source of property damage, accounting for 29% of UK home insurance claims between 2021 and 2024. In many cases, escape of water is preventable if you know what signs to look for. According to recent data, home insurers paid out £163.6m in escape of water claims between 2021-2024, with the average cost of a claim rising by 50% during that time. What is escape of water? Escape of water is classified as a leak coming from inside the home, rather than flooding due to rain or the sea. This could include burst or blocked pipes, leaking appliances (such as a dishwasher or washing machine) and faulty heating systems. Escape of water is an increasing issue due to more homes having integrated appliances, ensuite bathrooms and other hidden plumbing. It is also more of a risk in the winter months, when exposed pipes can freeze over. When am I covered? Most home insurers will cover you in the event of sudden, unexpected leaks, but it’s important to check your policy terms. Buildings insurance policies will generally cover damaged walls, ceilings and pipework, while contents insurance will typically cover furniture, carpets and belongings. Your claim may be rejected if the leak is due to a lack of maintenance or long-term seepage. How can I prevent escape of water? You can’t stop all leaks from happening, however there are steps you can take to minimise the risk. Make sure any exposed water pipes are insulated and your house is kept warm during winter. Keep an eye out for damp or condensation that could be an indication of escape of water. Don’t forget to look for drips in hidden areas, such as under the sink and behind the washing machines. Check the seals around baths, showers and toilets – if they’re old or worn, water could start seeping in. Also, old appliances are more likely to have plumbing issues, so consider upgrading before they cause a leak and it’s too late. What do I do if there’s a leak? It’s important to know where your stopcock is, as you may need to use it to stop the water supply if you find a leak. Once you have done this, you should contact a professional to ensure the appropriate repairs are carried out. At this point, consult your home insurance policy to check if you will be covered. Many insurers now require policyholders to pay an excess when making a claim – this is often between £400 and £800. Check your policy It’s important to know exactly when you would be covered so there are no nasty surprises when you try to make a claim. We can talk you through your policy and make sure you have the right level of cover. As with all insurance policies, conditions and exclusions will apply. Sources: https://www.netmums.com/cost-of-living/the-10-minute-check-uk-households-are-urged-to-do-to-avoid-the-164m-home-insurance-claim-sending-premiums-soaring https://www.axa.co.uk/home-insurance/tips-and-guides/how-to-protect-your-home-from-escape-of-water/

Recent analysis shows that younger adults are benefitting from cheaper life insurance. In 2025, the average monthly life insurance premium for 18- to 24-year-olds was only £12 a month, while customers over the age of 55 were paying an average of £48. Over the last five years, the cost of insurance for the younger generation has fallen by 5%, however it has risen by 38% for over-55s. The research also indicates that more younger adults are taking the opportunity to combine life cover with critical illness, with 11% opting for this since 2020. Meanwhile, only 2% of over-55s have added critical illness cover to their protection policy. Whatever your age, we can help source life cover that is right for you. As with all insurance policies, conditions and exclusions will apply. Source: https://www.insurancebusinessmag.com/uk/news/life-insurance/younger-buyers-lock-in-cheaper-uk-life-cover-as-protection-market-shifts--report-567434.aspx

For many people, buying a home is one of the biggest financial commitments that they will make. But house hunting is not just about getting the price right; you also need to be confident that the property and location is right for you and your lifestyle. Here are some factors to consider when making your move. What can you afford? We strongly recommend that you sit down with a professional adviser to ascertain what you can afford, based on your current financial situation. As well as your deposit and monthly mortgage repayments, there are many other extra costs involved with buying a home. It’s essential to budget for Stamp Duty payments, conveyancing costs and other additional fees. This will help you enter your property search knowing what you can realistically afford. Is this a long-term home? If you see a property you love, it’s tempting to get swept up in the excitement and make an offer immediately. However, it’s important to step back and ask yourself if this is a property that will work for you in the future. For example, a two-bedroom home may suit you now, but will you need more space in five years? Or will you wish you had more garden space when the summer comes? Location, location, location If you are moving to a new area, are you certain that you can see yourself living there? You should do your research and spend enough time in the area so you can feel confident that it’s the right decision for you. Look up the transport links and work out your commute times and costs. You should also research the local schools and amenities, so you know what you’re signing up for. Get a survey It’s important to understand what you’re committing to, which includes any pre-existing issues with the home. Paying for a professional survey now could influence whether you buy the home – you may find out that there are significant structural issues that are going to be too costly to inherit. Take your time Buying a home is a big decision, so don’t rush into anything. You can view the property again and take along someone you trust, so you have another perspective. Compare the home with other properties on the market and make an offer that is appropriate for you and your finances. If you’re buying a flat, make sure you understand if it’s freehold or leasehold and ascertain any building management costs. Talk to us We can help turn your property dreams into a reality. We will guide you through the process and talk you through your mortgage options, so you can view homes with confidence. Contact us for advice today. Your home may be repossessed if you do not keep up repayments on your mortgage. Source: https://www.yopa.co.uk/blog/finding-the-right-home-five-things-every-buyer-should-think-about/

If your job is deemed dangerous by an insurer, this may affect your protection policy. Examples of hazardous occupations Jobs are considered dangerous if there is an increased likelihood of death when compared with the average profession. This includes the Armed Forces and working outside at heights over 15 metres. Firefighters and police officers are also often in this category as evidence shows that there are associated health risks and increased fatalities. How does this affect your life cover? If you have a hazardous occupation, you must disclose this when applying for life insurance, otherwise you risk invalidating your policy. You may need to provide further details about your duties so the insurer can assess the level of risk. Your premiums might be more expensive if the insurer decides there is a higher chance that they will need to make a payout. Get in touch If you are unable to get standard life insurance, you may be able to get specialist cover with the help of a professional adviser. It’s important to consider if you also need critical illness cover or income protection due to the nature of your job. We will explain your options so you can make an informed decision. As with all insurance policies, conditions and exclusions will apply. Source: https://www.legalandgeneral.com/insurance/life-insurance/lifestyle/dangerous-jobs/

Research suggests that many UK households could be missing out on better home insurance deals as they have allowed their policy to auto-renew. A quarter of Brits let their home insurance renew automatically and 17% of this group haven’t checked if better deals are available. A further 8% admit that they left it too late to shop around, by which point their policy had already rolled over. The trend is particularly noticeable among men, who are more likely to let their policies auto-renew. While it can feel convenient, auto-renewal is not always the most cost-effective option. Insurance premiums and personal circumstances can change year to year, so you could end up paying more than necessary. As with all insurance policies, conditions and exclusions will apply. Source: https://press.gocompare.com/news/a-quarter-of-brits-admit-to-letting-their-home-insurance-renew-automatically

House prices picked up in March, with annual growth rising to 2.2% according to Nationwide. This is an improvement on February, when prices rose annually by 1.0%. The average house now costs £277,186. In March, most UK regions saw modest increases in house prices, however the Outer South East and East Anglia both saw price declines. Meanwhile, Northern Ireland outperformed the rest of the UK, with annual growth of 9.5%. In England, the North West saw the strongest increase, with prices rising by 3.3% year-on-year. Interestingly, detached properties recorded the biggest annual growth, with a price increase of 2.4%. On the other hand, the value of flats has only increased by 15% since the start of 2020 – half the growth seen in detached properties. Source: https://www.mortgagestrategy.co.uk/news/annual-house-price-growth-up-2-2-in-march-nationwide/ https://www.nationwide.co.uk/media/hpi/reports/uk-house-price-growth-picks-up-in-march

If you’re self-employed, it’s essential to ensure you have the right protection in place – otherwise, you risk leaving yourself financially vulnerable if you’re unable to work. Many people enjoy the freedom that comes with being self-employed – you can be your own boss and work on your own terms. However, it does mean that you’re not eligible to receive Statutory Sick Pay if you’re unwell. No sick pay, no safety net Research has found that self-employed people take 35% fewer sick days than employed workers because they’re worried about losing out on income. However, carrying on working could be more detrimental to your health in the long run. It’s therefore vital to have appropriate income protection in place, so you can take the time you need to return to full health. The importance of income protection Income protection insurance provides a portion of your income (typically 50-70%) if you are unable to work due to illness or injury. It pays out regular monthly payments until you return to work, retire, or reach the end of your policy term. Unlike critical illness cover, income protection covers a wide range of medical conditions, from mental health issues to physical health conditions. If you have a pre-existing condition, this may not be covered by the insurer, so it’s important to understand your policy terms. The waiting period Once you have stopped work, you will typically have to wait a specific length of time before you can claim income protection payments – this is called the deferred period. As you don’t qualify for Statutory Sick Pay, you may opt for a shorter deferred period so that you can receive financial support sooner. This does mean that your premiums will be higher, so it’s important to calculate how long you could manage without an income. How your work affects your insurance If your job involves a level of risk, this may impact your cover. For example, you might be a contractor who frequently uses heavy machinery and works at height. When applying for income protection, your insurer will ask a range of questions about your job so they can ascertain how much cover you need. It’s important to answer these truthfully, or you risk invalidating your policy. Executive income protection If you are a self-employed director of your own limited company, you might consider executive income protection insurance. The policy will be taken out by the business and protects you or an employee in the event of illness or injury. Get in touch with us if you are considering this option. Here to help We can help you source an income protection policy that is tailored to your unique circumstances. As with all insurance policies, conditions and exclusions will apply Source: https://www.reassured.co.uk/income-protection/income-protection-for-self-employed/#:~:text=Self%2Demployed%20income%20protection%20%5BQuick,to%20meet%20your%20unique%20needs

Mortgage rates are in a state of flux in response to the Middle East conflict, which is a constantly evolving situation. Mortgage rates were on the rise at the start of April, with over 30 lenders increasing their rates and withdrawing some products from the market. However, by the end of the month, lenders had started to make cuts again. Despite this, at the end of April the average two- and five-year fixed mortgage was still higher than at the beginning of March, before the impact of the war had started to filter through to the economy. Those who can afford larger deposits continue to fare better in the current economic landscape, as these are the products that are seeing the biggest rate reductions. On the other hand, homeowners who are coming to the end of their five-year fixed deals are likely to be hardest hit when looking for a remortgage deal, as their new rates could be significantly higher. We can help you understand what the changing economic situation means for you and your mortgage. Get in touch to speak to a professional adviser. 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-rates-keep-climbing-as-lender-repricing-continues/ https://www.mortgagestrategy.co.uk/news/mortgage-rates-fall-for-a-second-week-as-more-lenders-make-cuts/

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