As we begin to see slightly lighter mornings, and some of the spring bulbs are beginning to flower, it brings about a wonderful sense of excitement.
Looking forward to the spring and the longer daylight hours is only natural, but this year more so than ever as it means turning our heating off and saving some money on the increasing energy bills!
The cost of living is climbing, but as always, we're here for any financial queries you may have, so please do get in touch if you feel you may need to look at accessing more cash for those bigger financial demands, or perhaps you're keen to cover your backs health wise given the last couple of years' pandemic. Either way, we're happy to help, so please do give us a ring, or drop us an email.
When it comes to securing buildings and contents insurance, we select the things that matter most to us. Perhaps you want to make sure your collectibles are covered, maybe accidental damage is top of your priority list, or maybe your expensive tv needs protecting against theft or damages? Whatever the reason, securing suitable insurance is a vital consideration for all households.
So, what if you’re doing something simple that could invalidate that all important cover?
Here a few things to be cautious of to ensure the best from your content’s insurance:
Installing a pet door
Despite wanting to give Rover more freedom to roam both indoors and outdoors, it could tell your insurers that your doorways are less secure and result in you paying higher premiums. This is one you ought to disclose to your insurer just in case.
Lacklustre locks
If your entry points have substandard locks you could stand to invalidate your claim, should you need to make one. Ensure the locks on your doors and windows are fully functioning and in line with what your policy requires (i.e., ensure the type of lock mirrors your policy’s requirements) and take care of any faults or damages immediately to avoid your claim being dismissed.
Snapshot sharing
It may seem tempting to update your social media following on your latest excursion or exciting trip, but this can be viewed by insurers as advertising that your home is empty. If you’re found to have publicised your vacant home and subsequently make a claim, it could be invalidated. Instead, try to share the snaps after you’ve returned home.
Business use
Following the pandemic, many of us are now finding ourselves working from home. Be it a home office, a kitchen pop-up desk, or a cubby under the stairs; if you’re working from home, it is important to let your insurers know. Equipment such as printers and laptops could impact your policy, although if insured by your company it may not pose as much of an issue. Either way, there’s no harm in keeping your insurers up to date.
When considering contents insurance, it is important to find something that best fits your needs and situation and to understand that while flexibilities and changes happen, it can be the difference between an insurer accepting your claim and denying it.
To source the most suitable contents insurance for your needs, get in touch with us today.
If you think you're ready to buy your first home, get in touch today
As we get older many of us begin to make alterations to our homes to suit our living requirements and desires. Perhaps we’ve become less physically able and alter our homes to accommodate our new needs?
Sometimes the solution may be to move home altogether. Perhaps to be closer to loved ones who could help out if needed? Or maybe moving to a bungalow rather than a multi-storey home is the solution?
Perhaps you just fancy somewhere a bit more in keeping with your lifelong dreams?
But, did you know equity release could be the vehicle with which you can enable yourself to make that move?
In essence, an equity release scheme is a mortgage secured on one’s property; however, unlike a conventional mortgage there are no monthly payments. Instead, the interest charged by the lender is added to the loan & compounded over the term. Therefore, similarities between equity release & a household mortgage co-exist. Furthermore, this similarity extends to the house buying process.
When funds need to be raised to assist with a house purchase, a conventional mortgage is normally utilised to bridge the shortfall between the purchase price & any deposit already held. Equity release can also assist a house purchase by using exactly the same principles as a mortgage.
It is important to consider seeking advice from a qualified equity release adviser at this stage and letting them know your intentions. They will be able to source something that most aptly suits your needs, they may even advise that equity release isn’t your best option and may be able to help in another way.
You may also need to consider if your existing mortgage will need repaying with the proceeds released as this will reduce the total available to use as a deposit on your new home.
So as equity release can be used to upgrade your home- be it existing or new- it is worthwhile seeking advice from a qualified adviser who can help support you on this journey.
To arrange a conversation at a time that suits you, get in touch. This may be with ourselves or our trusted referral partners who can advise on equity release.
This is a lifetime mortgage. To understand the features and risks, 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.
Everywhere you turn there are articles and stories on the rises in the cost of living. The rise in rates impacting the mortgage market is no different. Rates do indeed continue to climb, however not at the frightening pace it is often depicted. Rates are rising from the lowest rates we have seen in some time, but are still much lower than they have been in recent years.
So, what does this mean?
If your current mortgage agreement is coming to an end in the next few months, then absolutely speak to your adviser. They’ll often be able to lock in a new rate a few months before hand and ensure you are on a suitable deal. As rates can be very fluid and nobody is sure what the next few years will hold, we’d recommend obtaining a two-year fixed rate, giving you opportunity to source a more suitable deal again in another couple of years, depending on your situation.
In short, we’d advise you to speak to a qualified mortgage adviser who can help direct you towards the most suitable remortgage option for you and your family.
Get in touch if you think remortgaging may be a suitable option for you.
Remortgaging doesn’t always guarantee that you’ll reduce your monthly outgoings, but it could. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
For many of us, the huge surge in energy prices is worrying. Such significant uplifts on our monthly outgoings can have us digging around behind the sofa for loose change in an attempt to counterbalance the increase. There are some small ways you can begin to recoup some of the money lost to the increase though, so check out these handy tips for combatting the lift.
If you’re currently on the hunt for new large appliances, take a look at the energy rating as one of your priorities on the check-list. For example, according to The Independent* an A+++ washing machine will typically use £65 less energy than an A+ one over an 11-year product lifespan and an A+++ fridge freezer will save around £320 in energy bills over its lifetime compared to an A+ model.
Top up your knitwear. While we’re all used to our parents in years gone by saying “if you’re cold put a jumper on!” could it be that we’ve now turned into our parents? Turning down the heating thermostat and warming up with layers is a simple way to reduce some of your energy costs. Turning your heating down by just one degree could save up to £80 a year*!
Switch it off! Using appliances that can be turned off at the plug, rather than left on standby can save an average of £30 a year*. Consider getting smart plugs that can be controlled by your phone, that way, you can keep on top of your energy usage from the comfort of the sofa.
Thrifty Showers Not only can reducing the time you spend in the shower help cut costs, but buying efficient showerheads can also help save. Cutting your shower time by just 1 minute can save you as much as £18 per person a year on energy bills, and the efficient showerhead: as much as £7 per person a year, in savings.
Slightly bigger & more long-term changes
Little amounts can certainly add up, but have you considered replacing older windows for double-glazing? Or getting loft insulation? While the initial costs can seem bigger, they’ll more than make up for it in savings on your energy costs over the years.
While the increases to energy prices can seem daunting, it’s important to remember you’re not alone. Your energy suppliers have worked with the energy regulators Ofgem to ensure support is provided and signposted clearly for those struggling. In the first instance you should speak to your supplier to see if they can assist.
