Mortgage overpayments: small sums add up
A third of homeowners are currently making overpayments on their mortgage 40% of homeowners don’t have the confidence to overpay their mortgage Most lenders allow you to make overpayments of up to 10% of your mortgage balance each year without incurring any penalties UK homeowners could collectively save £2.3bn on mortgage interest each year by […]
In the News – Home Finance
A dressing room can boost your home’s value by up to £40,000 Over 65’s hold £2.9trn in mortgage-free property wealth in the UK House purchases now take 124 days on average – 41% longer than expected Dressing rooms – the new must-have Once seen as a luxury, dressing rooms are gaining popularity among everyday homeowners […]
Home insurance premiums and claims increase
UK combined home insurance premiums rose 8.5% to an average of £231 according to recent data Material shortages, labour expenses and inflation rates have driving up repair and rebuild costs Make sure you don’t invalidate your insurance by leaving a spare key where it can be easily found Extreme weather conditions. Rising construction costs. Higher […]
Summer housing market update – records, challenges and changing trends
Average asking prices hit record highs, but growth is slowing, as analysts suggest we’re in a buyers market Moving costs have risen sharply across the UK due to changes in tax and associated fees First-time buyers see improved affordability supported by flexible mortgage products As summer begins, the housing and mortgage markets are experiencing a […]
UK cities see strong property market growth
The UK property market experienced a boost in 2024, with nearly 50% of homes listed receiving offers or selling Cities like Sunderland, Leicester, and Liverpool saw notable increases in buyer activity, while London’s growth was subdued Rising buyer confidence, stabilising mortgage rates and positive market conditions are expected to keep demand strong The UK property […]
Home Finance – In the news
Older borrowers are increasingly taking out ultra-long mortgages, with a 156% rise in the last five years Half of UK homes saw price increases in 2024, there’s a clear north-south divide in property values Rent costs for tenants under 45 hit a record £56.2bn due to rising mortgage rates Retiring with a mortgage With a […]
Why life insurance matters
50% of salaried employees and 33% of non-salaried workers lack life insurance Life insurance covers expenses like mortgages, bills and education costs should the worse happen Policies can start as low as a few pounds a month, offering affordable protection and peace of mind Taking out life insurance is a crucial step in protecting what […]
Flooding puts 6.3 million homes at risk
6.3 million homes face flooding threats, but the dangers are expected to rise significantly due to climate change 4.6 million properties are at risk of surface water flooding, a 43% increase since 2018 Taking proactive steps, including insurance, is key to protecting against flood damage A recent report from the Environment Agency has revealed that […]
Equity Release – cause for optimism
Over 15,000 active customers and £622m in lending recorded in Q4 2024, up from £525m in Q4 2023 A 3.3% increase in UK house prices contributed to larger loan sizes and improved product availability. A 27% rise in returning customers using further advances shows growing confidence in equity release Looking at The Equity Release Council’s […]
One in six plan to move in 2025
30% of Brits moved home in the past three years, motivated by lifestyle changes and space One in six homeowners plan to relocate this year, with garages and gardens top priorities Renters face affordability challenges, with many needing family support to buy their first home. After a busy period in the housing market, there seems […]
