More than two million UK mortgage holders would be facing financial distress if their income suddenly stopped. That’s the key finding from a recent study by LifeSearch & Homeowners Alliance, which found 36% of mortgage holders – roughly 2.34 million people – have no financial protection such as life insurance, income protection or critical illness cover. While two-thirds of respondents said they had discussed mortgage protection with advisers, lenders or family, only 16% had taken out an income protection policy. Almost half those surveyed said they would struggle with mortgage payments within six months if they lost their income. One in five said they would face difficulties in two months. Taking action The study highlights a worrying gap between intention and action. While many mortgage holders have spoken to someone about taking out protection cover, far fewer have actually taken steps to put insurance in place – leaving themselves and their homes vulnerable to life’s unexpected events. Paula Higgins of the Homeowners Alliance said, “Without a safety net like income protection, a sudden illness or job loss could lead to devastating consequences.” 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. Source: https://www.propertyreporter.co.uk/over-2m-uk-mortgage-holders-are-one-paycheck-away-from-crisis.html

According to Moneyfacts, the number of low-deposit mortgages available at 90% and 95% loan-to-value (LTV) has reached its highest level since 2008, with 1,287 products on offer at the time of writing. In April, there were over 400 deals at 95% LTV and over 800 deals at 90% LTV, signalling growing lending support for buyers with smaller deposits. The number of mortgages available for those with larger deposits also improved, up from 778 in March to 797 in April. Noting the number of 95% LTV deals represents just 6% of all deals available to borrowers across fixed and variable mortgages, Moneyfacts’ Rachel Springall called the increase “a healthy step in the right direction”. Your home may be repossessed if you do not keep up repayments on your mortgage. Source: https://www.yourmoney.com/mortgages/options-for-low-deposit-mortgages-hit-17-year-high/

Life insurance is perhaps one of the most misunderstood areas of personal finance which could be stopping people from getting the cover they need. For example, people often think life insurance is only for older people. In fact, it plays a vital role for people in their 20s, 30s and 40s — especially those with financial obligations such as mortgages, children or other dependents. Variety of cover There is more than one type of life insurance. Different plans offer varying features and costs. Whole life insurance provides permanent cover, but it is typically more expensive. Term life insurance, by contrast, offers cover for a specific period — usually 10, 20 or 30 years — and is generally cheaper. Work cover People frequently assume the life insurance offered by their employer is sufficient. However, workplace policies typically provide a death benefit equal to one or two years’ salary. This may cover short-term needs, but won’t support a family over the long term. Having a separate policy would see cover staying in place regardless of job changes or redundancy. 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://uk.finance.yahoo.com/news/suze-orman-debunks-4-common-131922563.html

Affordability for first-time buyers (FTBs) reached its most favourable level in ten years last year, despite house price rises over the same period. New analysis from estate agents Yopa shows the average price paid for a first home in the UK has increased 63% since 2014. However, earnings growth relative to income means homes are now the most affordable since 2015. The analysis compared average FTB house prices with average annual earnings, calculating how many years of income are needed to purchase a first home. In 2024, that figure stood at 7.1 years, based on an average annual income of £31,717 and an average FTB property price of £226,744. The 2024 affordability ratio matches the level last seen in 2015. The ratio peaked at 8.0 in both 2021 and 2022, before easing to 7.3 in 2023. The improvement is largely the result of stronger wage growth. Average annual earnings rose 6.2% in 2023 and a further 7% in 2024. At the same time, FTB house prices fell slightly in 2023 and have grown more modestly since. Significant regional disparities London remains the least affordable region for FTBs, with an income-to-house price ratio of 12.4. This means buyers in the capital require more than 12 times the average local income to buy their first home. The South East, East of England and South West were all above the national average, with affordability ratios of 8.9, 8.5 and 8.4, respectively. At the other end of the spectrum, the average first home in Scotland costs 4.8 times the average annual income, making it significantly more affordable than the rest of the UK. Challenges remain despite improving trends Yopa Chief Executive Verona Frankish said affordability remains a major concern for prospective buyers, “It’s fair to say that getting that first foot on the ladder has been no easy task at any point over the last decade and, now that the Help to Buy scheme has ended, it’s perhaps tougher than ever in some respects.” However, rising earnings in recent years have improved the overall picture. Frankish added, “The silver lining for today’s first-time buyers is that whilst the average price of a first home has increased substantially over the last 10 years, earnings growth has also improved considerably in the last three to four years.” Affordability still challenging While the improving affordability ratio may encourage prospective buyers, a ratio of 7.1 still implies a considerable stretch for many households and affordability in high-demand regions remains a significant barrier. Nevertheless, with wage growth outpacing house price inflation, there are signs that conditions may be slowly becoming more favourable for those entering the housing market. Your home may be repossessed if you do not keep up repayments on your mortgage Source: https://www.propertyreporter.co.uk/first-time-buyer-affordability-at-10-year-high.html

The average cost of moving home in England is now £51,826, the highest in the UK, according to Yopa’s latest Housing Market Affordability Review. It shows the total has risen nearly 11% in a year, driven largely by changes to Stamp Duty. Stamp Duty alone now costs £4,528 on average, more than triple last year’s amount. Conveyancing costs increased 12.5% annually to an average of £1,364, while removal costs increased by 1.3% to £917 on average. Mortgage deposits remain the biggest expense, averaging £43,585. Wales and Scotland follow, with average moving costs of £34,429 and £32,172, respectively, while Northern Ireland remains the cheapest at £31,353, though costs there saw the sharpest annual rise at 13.2%. Your home may be repossessed if you do not keep up repayments on your mortgage. Source: https://theintermediary.co.uk/2025/04/england-boasts-the-highest-moving-cost-at-51826-finds-yopa/

New analysis by Searchland has revealed the most energy-efficient areas in Britain. The study, based on average Energy Performance Certificate (EPC) ratings, saw the City of London and Peterborough top the list with an average EPC score of 76 (C rating), followed by Tower Hamlets, Hackney and a cluster of other London boroughs averaging a C rating. Conversely, several rural and national park areas, such as the Yorkshire Dales and Snowdonia, recorded the lowest energy scores, reflecting the UK’s challenges with older housing stock. Hugh Gibbs of Searchland said improving energy efficiency in older homes is complex, “True progress will depend not just on developers but also on the willingness of homeowners to upgrade their properties.” Source: https://www.propertyreporter.co.uk/where-are-the-most-energy-efficient-areas-for-homebuyers.html

It’s never easy to think about the future without you in it. But asking what would happen if you weren’t here is one of the most important financial questions you can ask. Life insurance can give you peace of mind that, should the worst happen, your loved ones won’t be left struggling. What is life insurance? Put simply, life insurance pays a tax-free cash sum to your chosen beneficiaries if you die during the policy term. Some policies also include terminal illness cover, paying out if you’re diagnosed with a condition that leaves you with less than 12 months to live. Life insurance often becomes particularly relevant at key moments in life, such as buying a home, getting married or starting a family. If you have financial commitments and people who depend on you, it’s worth considering how they’d manage without your income. For young couples with a mortgage, for instance, one partner may not be able to keep up with the payments on their own. Life insurance isn’t just for those with children. It can also help cover funeral costs, settle debts, or even leave a legacy for friends or family. What types of life insurance are available? There are two main types of life insurance. Whole-of-life cover pays out whenever you die, but premiums tend to be higher. Term insurance runs for a set number of years, say, until your children reach adulthood or your mortgage is cleared, and only pays out if you die during that period. Because many people outlive the term, term insurance premiums are generally lower. How much life cover will you need? Think about your mortgage, regular expenses, childcare costs, outstanding debts and anything else your income supports. If your policy is to cover a repayment mortgage, a decreasing term policy, where the pay-out gets smaller as your outstanding mortgage shrinks, can be a more cost-effective option. When should cover start? Life insurance policies are available from age 18, with many providers capping the upper age limit at around 80. The younger and healthier you are, the cheaper your premiums tend to be, so it often pays to take out a policy when you’re in good health. It’s also important to be honest when you apply. Failing to disclose medical conditions, or lifestyle factors like smoking, could result in a claim being rejected later. While the vast majority of life insurance claims are paid, being upfront means you’re fully protected. It begins with a conversation Talking about life insurance may feel daunting, but it’s really about giving you and your family some certainty in uncertain times. It’s a way of financially protecting those you care about most, even if you’re no longer around to do it in person. As with all insurance policies, conditions and exclusions will apply

Life insurance rarely feels like a priority in your twenties or early thirties, particularly if you don’t have children or a mortgage. But over time, it could become the smartest financial decision you make. Buy early A big advantage of buying life insurance early is the cost. Premiums are lower when you’re healthier and statistically less likely to make a claim. A 30-year term policy taken out at 25 will usually be far cheaper than the same policy bought at 45 and your monthly payments will remain fixed for the length of the term. Not just for families Even if you don’t yet have children or a partner who relies on your income, life insurance can still be useful. It can provide peace of mind if the worst happens, knowing that those closest to you won’t be left paying off debts such as student loans, credit cards or a mortgage. As your life changes, your policy can change too, adjusting the amount of cover you need if you have children, change jobs or move up the property ladder. For most people, the earlier you consider life insurance, the more affordable and flexible it can be. While it’s not essential for everyone at a young age, locking in a policy early gives you one less thing to worry about in the future. As with all insurance policies, conditions and exclusions will apply

Did you know that hiding a spare key in case of emergencies could invalidate your home insurance if you suffer a break-in? Most insurance policies require you to take ‘reasonable care’ to keep your home secure. Therefore, if a thief finds and uses a poorly hidden key, your insurer may argue the theft was preventable. Many policies only cover theft after signs of forced entry, meaning even leaving a key with a neighbour could be risky. Remember, burglars will be familiar with all the classic hiding spots – under a doormat, plant pot, or even a fake rock. It’s advisable to check the terms of insurance policies carefully, as not all cover every method of storing a spare key. As with all insurance policies, conditions and exclusions will apply