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

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

Millions of UK homeowners are choosing to renovate their existing home instead of moving. In England and Wales, about 1.7 million homes (one in 15 properties) have undergone significant renovation work. These homes are marked with ‘official improvement indicators’, showing that they have had major structural changes, such as an extension or loft conversion. Legally, Council Tax cannot be increased on homes with improvement indicators until the property is sold or there is a general revaluation of all domestic properties. The growing preference for renovation over relocation is likely due to the rising costs associated with moving home, including Stamp Duty charges, mortgage rates and property prices. Your home may be repossessed if you do not keep up repayments on your mortgage Sources: https://www.msn.com/en-za/news/other/data-millions-of-brits-renovate-homes-rather-than-move-to-avoid-costs/ar-AA1MzVrw

Research has revealed the best UK commuter towns, offering lower house prices whilst being in proximity to major cities. Remote working became the ‘new normal’ during the pandemic, but now three-quarters (76%) of employees are back working in the office at least three days a week. Many people can’t afford to live in London, where the average house price is £588,300. Peterborough was ranked the best commuter town near the capital; it’s a 50-minute train to King’s Cross and the typical home costs £238,800. In Edinburgh, the average property costs £287,110; however, Wishaw is located 45 minutes away by train and offers lower prices of £111,670. In Cardiff, homes are typically £280,760, but in New Tredegar, the top commuter town, properties are less than half the price at £108,600. Sources: https://www.zoopla.co.uk/discover/property-news/best-commuter-towns/

Data shows that the number of people buying a home with a Lifetime ISA (known as LISA) increased in the 2024/25 tax year. According to the statistics, 82,750 account holders withdrew money from their LISA to buy their first home, which is about 30,500 more than in the previous tax year. Also, the average withdrawal for a property purchase increased by around £857 to £15,782 in 2024/25. The increase is likely due to FTBs rushing to complete their transaction before the stamp duty changes came into effect in April 2025. More incur withdrawal charges While many are using LISAs for their intended use, there are some account holders who are paying the price for dipping into their savings. Money can be withdrawn from a LISA when buying your first home (costing £450,000 or less), when you are aged 60 or over, or if you are terminally ill (with less than 12 months to live). If you withdraw funds for another reason, there is a charge of 25%. In the year 2024/25, there was £102m in LISA withdrawal charges, up from £75.3m the year before. It's important to explore alternative options before making an unauthorised withdrawal from your LISA. Your home may be repossessed if you do not keep up repayments on your mortgage Sources: https://uk.finance.yahoo.com/news/lifetime-isa-savers-clobbered-102-104936374.html?guccounter=1

New data indicates that first-time buyers (FTBs) are taking out longer mortgages to help them move straight into their ‘forever home’. In August, a third (33.5%) of FTBs bought a semi-detached property, up 1.7% when compared with the same month in 2024. Meanwhile, only 19% purchased a flat, representing a 2.7% annual decline. The most popular property type among new homeowners was three-bedroom properties, which accounted for 46% of all FTB purchases in August. Looking for the long-term Historically, FTBs would enter the market by buying a smaller property, with the intention of moving up the ladder later. However, it seems that this trend is changing. Many new homeowners are aiming to purchase a longer-term home from the outset, rather than upsizing after a few years. Longer mortgages To afford larger homes, FTBs are opting for longer mortgages, with 41.3% taking out a mortgage of at least 30 years in August. In fact, 37% of borrowers said that mortgages spanning 30 to 40 years are more appealing because it meant lower monthly repayments. However, repaying a mortgage over a longer period means paying more interest overall, increasing the total cost of borrowing. Your home may be repossessed if you do not keep up repayments on your mortgage Sources: https://www.thisismoney.co.uk/money/mortgageshome/article-15099631/First-time-buyers-mega-mortgages-buy-forever-home.html https://www.msn.com/en-ie/money/homeandproperty/first-time-buyers-take-out-mega-mortgages-to-buy-a-forever-home/ar-AA1MC7gQ?ocid=finance-verthp-feeds&apiversion=v2&domshim=1&noservercache=1&noservertelemetry=1&batchservertelemetry=1&renderwebcomponents=1&wcseo=1

According to a new study, many UK adults do not feel confident that their family would be financially secure in the event of their death. In the survey, 2,000 consumers were asked about their financial confidence if the worst happened. Only one in five (22%) respondents felt ‘very confident’ that their family would be financially protected if they passed away. Meanwhile, a third thought their loved ones would ‘manage for a while’ and a quarter (23%) were not at all sure if their family would be able to cope financially. The generational difference The report showed that attitudes towards financial security varied depending on age, gender and type of workplace. Interestingly, 45 to 54-year-olds were the least confident, with a third (33%) believing that their loved ones would not be financially secure if they died. Only one in ten of this age group were sure that their family would be in a stable position. On the other hand, 25 to 34-year-olds were the most confident age group, with 75% feeling certain their family would be sufficiently protected. This notable disparity could be because 45 to 54-year-olds typically have more dependents than the younger generation. The gender gap Two-thirds (67%) of men felt confident about their family’s financial position, but only half (49%) of women felt the same. Moreover, women were nearly twice as likely to say that their loved ones would face serious financial challenges if they died (9% of women vs 5% of men). The impact of employment status The size of workplace appeared to have an impact on financial confidence; employees at larger companies (with 250+ staff) felt the most assured about leaving their family in a secure financial position. On the other hand, those working in smaller businesses (fewer than 50 employees) were the least confident, with 46% believing that their family would cope without them. The importance of protection Jack Southcott at The Exeter commented on the findings, “Increasing consumer awareness of the valuable safety net provided by protection insurance products is essential in improving the financial resilience of UK households. Products such as life insurance can provide greater reassurance for individuals and their loved ones if the worst happens. It’s also important that consumers consider speaking to their adviser about putting a policy in trust or nominating beneficiaries to ensure any benefit paid goes to the right people without delay.” Boost your confidence If you’re feeling unsure about how your family would cope in the event of your death, we’re here to help. By implementing protection that works for you, you can have peace of mind that your loved ones will have the support they need at difficult time. As with all insurance policies, conditions and exclusions will apply Sources: https://www.actuarialpost.co.uk/article/only-1-in-5-feel-financially-confident-if-the-worst-happened-25653.htm

Data from the Office of National Statistics shows that the average monthly mortgage repayment has surpassed £1,000 for the first time on record. In August, the typical monthly payment reached £1,002.27, indicating that, despite some cuts to Bank Rate over the last year, homeowners are still facing affordability challenges due to higher inflation. Less than a year ago, average repayments were below £950 and, in 2020, homeowners were paying an average of £680 per month. This sharp increase shows how much borrowing costs have risen in the last five years. Many fixed rate deals that were secured during the pandemic are coming to an end in 2025. As these mortgages expire, some borrowers can expect to see their monthly repayments more than double. In mid-August, the average five-year fixed mortgage rate eased below 5% for the first time since May 2023. However, major lenders have started increasing their rates again, largely due to the rising yield on government bonds, known as gilts. If you’re dealing with higher mortgage costs, you don’t have to manage alone. Our advisers can help you understand what the changes mean for you and explore the best options for you and your circumstances. Your home may be repossessed if you do not keep up repayments on your mortgage Sources: https://www.thisismoney.co.uk/money/mortgageshome/article-15092291/Monthly-mortgage-repayments-hit-record-1-000-time-lenders-rates.html https://www.msn.com/en-ca/money/finance-real-estate/monthly-mortgage-repayments-hit-a-record-1-000-for-the-first-time-as-lenders-put-up-interest-rates/ar-AA1MqLMJ?ocid=finance-verthp-feeds