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 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

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. Contact us 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

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

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

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

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

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

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

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

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