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

By the time your child turns 18, the damage they cause at home could cost you nearly £15,000, according to Checkatrade. It says parents spend an average of £449 a year per child on repairs, with four-year-olds causing the most chaos. However, damage caused by angry teens can also be expensive. Replacing broken electronic items averages £325 a year, while furniture, carpets and scratched floors are frequent casualties. Kids may also draw on walls, slam doors and break their own toys. Many parents now take steps to protect their homes, from washable paint to hard flooring and TV screen protectors. Consider adding accidental damage cover to your home insurance, so the most expensive damage is paid for by your insurer. As with all insurance policies, conditions and exclusions will apply Source: https://www.yourmoney.com/insurance/home-damage-caused-by-your-children-will-reach-15000-by-the-time-they-hit-18/