We are using the month of April to ‘spring clean’ your finances, insurance, and mortgage needs. Throughout, we reveal why we can offer bespoke advice specially tailored to you. Compare the market websites might be a quick solution. But they won’t provide ongoing support and advice through the whole process. Trust us to use our own ‘compare the market’ and the best part? It’s completely free for you. If you are an introvert who doesn’t like the phone, after our initial consultation, everything can be done via email. And if you are an extrovert, we have great news: we are available to chat whenever you need our advice!
Now, let’s look at some statistics of why it’s an especially important time to get organised. Experts have seen the data, and house prices are on the rise — 10% higher in some areas of the UK! Average earnings have seen a growth of 6% over the last year. And importantly, we also recently had the recent base rate reduction, which means good things for interest rates! But another survey recently exposed that one in 10 adults are unaware of their monthly spending. We’ve popped some tips at the end of this email to help you get on track!
Is it time to see a specialist?
In our post-pandemic world, we are seeing lots of changes for the needs of borrowers! Do you need specialist help? Reach out, and we’ll help you get organised and secure your new mortgage!
For those still benefiting from low mortgage rates, many homeowners have chosen to take a second charge rather than remortgage, say for debt consolidation and home improvements.
A second charge mortgage is a loan that is secured against a property that already has a primary mortgage (first charge). If you have a property with a first mortgage, you can take out a second mortgage to access additional funds. But, second charge loans typically have higher interest rates and come with closing costs, which you'll need to pay upfront when taking out the loan.
You might consider a regular re-mortgage or a re-mortgage with additional borrowing as alternatives to a second mortgage. However, for those with low mortgage rates, many homeowners are choosing to take a second charge rather than remortgage. Using the funds for home extensions or office spaces, which in the long run, will add more value.
Specialist solutions can provide borrowers with flexibility and more options. Specialist lenders adapt, providing finance to match the changing property trends. We can also help borrowers who may be struggling financially. Giving you flexibility and choices.
We are here when you need us. Give us a call today to chat more about your options and the best way to manage your mortgage.
Think carefully about securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
If you're going through a divorce or separation, updating your insurance policies is a necessary step. We understand it must be a hard time, full of emotions. Let us take the pain out of your insurance needs. If you’d like to take a read through the following and see what applies, give us a call or email and we can manage the rest. A perfect spring-cleaning step for a brighter future.
Private Medical Insurance
Check if you’re on a joint policy. If you were covered under your ex-partner’s private medical insurance, you’ll need individual coverage. Let us compare new private health insurance options for you.
Car Insurance
If you shared a policy, notify your insurer and set up a separate policy. It’s a good chance to scan the market; your new position may even mean you’ll have access to a cheaper policy. Don’t forget to update ownership and named drivers. Or maybe this is a great chance to buy that new car you’ve always wanted. If you’ve moved house, inform your insurer to ensure the correct premium and coverage.
Home Insurance (Buildings & Contents)
If you’re keeping the home, ensure your policy reflects this and update the owner’s details. If your ex-partner has moved out, they should no longer be named on your policy. If you move out, make sure to arrange a new home or renters insurance policy for your new residence. We can help with a new policy for you.
Life Insurance
Do you want to change beneficiary? If your ex-spouse was listed as a beneficiary, you may want to update this. If you had a joint mortgage protection policy, you may need to separate it or get new coverage. It’s also a great time to consider income protection or critical illness cover. If you rely on your income alone now, these policies can provide financial security.
Travel Insurance
Don’t forget to cancel joint policies if you have a family or couple's policy. And check pre-booked trips, your insurance may cover changes or cancellations.
Pet Insurance
Confirm ownership and policyholder details: If you shared a pet policy, ensure it is transferred to the person keeping the pet.
Let’s get started with the rest of your life… Hit reply-to, and we’ll help you get organised.
Trigger warning: losing a child, stillbirth
Did you know Critical Illness Protection is important for the whole family? Not just the main earner? For example, we consider one heartbreaking example of why you should have a Critical Illness Policy in place for everyone in the family…
Losing a child is a devastating tragedy with unimaginable grief. Amidst this traumatic event, parents strive to provide their child with a deserving funeral without the added worry of financial constraints.
Did you know some providers of critical illness insurance offer funeral cover for children as part of their policies? It’s a horrible thing to consider, but we can make sure you have this cover in place, so hopefully, you never have to think about it again.
It is worth noting that clients in England, Wales or Scotland will not be charged fees for a standard burial or cremation for children under the age of 18, including stillborn babies. However, you will need to outlay these costs and then reclaim them. Either directly or through the funeral director. There is also a time limit to claim – up to six months after the funeral.
The government does not cover funeral director fees, flowers and a memorial. But those on low incomes may be able to get extra support from the government’s Funeral Expenses Payment. If you aren’t eligible for this, you will need to pay for the extras yourself.
All insurers offering children’s critical illness cover (either automatically or as an optional extra) include some form of child funeral/death benefit. This is aimed at helping contribute towards the cost of a funeral. The monetary amount that will be paid is either a £5,000 or £10,000 lump sum, depending on the insurer.
Let us organise your critical illness, income protection, and life insurance in one easy-to-manage payment. To take away some of the stresses of life and allow you to grieve without worrying about finances.
New research shows that people over the age of 55 are increasingly choosing to release equity in their homes to release funds for purchases like luxury holidays. We are seeing equity release loans taken out in the UK more than doubled during a ten-year period.
Are you looking to take the holiday of a lifetime while you still can? If you’d prefer to not use unsecured debt or savings, chat with us today about equity release and lifetime mortgages.
Equity release allows homeowners to borrow cash against money tied up in their properties, with the loan amount plus interest, including any roll-up interest, being repaid when they die or move into a care home. The remainder of the equity is typically then either spent on care home fees or inherited by family in the event they pass away.
The research suggests that more people are turning to the equity in their homes to fund once-in-a-lifetime trips. As well as paying for improvements to their properties, or to help loved ones purchase their first home. Are you considering any of these? Could we help you secure an equity release?
A common reason for equity release is taking that dream holiday you’ve always wanted to take. But we also see equity release for our clients who want to maintain the quality of life they enjoyed during their working lives. Plus, release funds to adapt their homes for their increasing special needs as they grow older.
Do you need some advice or more equity release news? Give us a call today and we can go through all the details with you!
This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.
Are you looking for a health insurance policy? We’ve looked at the research and there are some differences to keep in mind depending on your gender. One study by Vitality noticed that less than 25% of women hit their exercise target. Whereas more men in the workplace are calling for increased mental health support.
Let’s dive in!
Insurer Vitality has published a report into women’s physical activity and health, which shows that 23% of women complete the recommended 150 minutes of moderate exercise per week. The provider broke this down by age group, finding that 20% of women aged 20-39, 27% aged 40-59, and 23% aged 60-79 reached the 150-minute goal. Time constraints and demanding work schedules negatively impacted the exercise. But women with childcare responsibilities are affected the most.
Do you need help finding a policy that will get you active? Get in touch today. Many insurers offer motivations like gym membership and smartwatches to help track your movements. It’s never been easier to get fit!
In turn, men are calling for increased mental health support. Surveying over 8,000 UK adults, the Bupa Wellbeing Index found the primary factor impacting men’s mental health was lack of self-confidence (27%). Traumatic life events (25%), unhappiness in their job (20%), and relationship problems (21%) also come into play. Most do not know where to turn for help.
Less than half of men who have struggled with their mental health have sought medical advice. Others have confided in their partner (30%), family (26%), or friends (24%). Around 37% admitted to hiding mental health issues from their partners at home.
There are signs that someone might be struggling with their mental health, such as feeling low, being more worried than usual and having trouble sleeping. Men might also display other signs such as being irritable, aggressive, having sudden bursts of anger, losing control or taking more risks.
Let’s find you a health insurance that will support your mental health. We have many packages covering therapy — and it’s all confidential. You don’t have to suffer in silence.
Let’s get a bit cheesy this month with this very catchy phrase: “Spring Cleaning Your Finances—A Fresh Start for Your Money.” But research shows most British adults do not have enough savings. As we hopefully feel slightly warm temps, and the days are getting longer, spring offers the perfect opportunity for a fresh start. Not just for your home, but for your finances too.
Here are some fun and easy tips to help you review your budgets, cut unnecessary expenses, and set new financial goals.
Dust Off Your Budget
Review your income and expenses to see if your current spending habits align with your financial goals. Look for areas where you might be overspending and identify ways to cut back.
Declutter Unnecessary Expenses
Subscriptions and memberships have a way of piling up. Review all your recurring charges—streaming services, gym memberships, or forgotten app subscriptions.
Organise Your Debt Repayment Strategy
If you have outstanding debts, now is the time to reassess your repayment plan. Refinancing or consolidating debt might also be a good option to lower interest rates and streamline payments.
Refresh Your Savings Goals
Whether you’re saving for a home, a vacation, or an emergency fund, revisit your savings goals to ensure they align with your current financial situation.
Review and Optimise Investments
Spring is a great time to check in on your investments. Review your portfolio to ensure it remains diversified and aligned with your risk tolerance and long-term goals.
Shred Old Financial Documents
Safely dispose of outdated bills and statements and consider switching to digital records to keep things organised and secure.
Check Your Credit Report
Track down a free copy of your credit report and check for errors or fraudulent activity. If your score needs improvement, focus on paying down debt and making timely payments.
Adjust Insurance
Life changes, and so do your financial needs. Review your insurance policies—health, home, car, and life—to ensure you have adequate coverage.
Spring is a season of renewal, and your finances deserve the same attention as your home. So, grab a metaphorical broom and start sweeping away financial clutter today! Do you need extra advice? Hit reply and let’s see how we can help!
Sources
https://www.covermagazine.co.uk/news/4410188/adults-unaware-monthly-spending
https://www.mortgagestrategy.co.uk/features/feature-time-to-see-a-specialist/
https://www.ntu.ac.uk/about-us/news/news-articles/2025/02/equity-release-doubled-in-the-uk-with-holidays-a-major-factor-study-shows#:~:text=Research-,Equity%20release%20doubled%20in%20the%20UK%20%E2%80%93%20with%20holidays%20a%20major,for%20purchases%20l
https://www.covermagazine.co.uk/news/4383576/womens-health-crisis-vitality
https://www.covermagazine.co.uk/news/4410180/male-employees-increased-mental-health-support
