Choosing mortgages and protection are not decisions to be taken lightly. In today’s complex economic landscape, financial advice is more important than ever. ‘Advice gap’ A new study from the Financial Services Compensation Scheme (FSCS) I raises fears over a worrying financial ‘advice gap.’ Almost two-thirds of UK adults with savings, investments or a mortgage have not…
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According to new research i, one in five 18 to 24-year-olds plan to cancel their home contents insurance at renewal to save money, A risky game to play It’s wise to investigate any areas you could cut back on during the current costof-living crisis, but this statistic reveals a worrying picture for young people planning to…
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Social media allows people to share their views and opinions more widely than ever before. Taking financial advice from online influencers, however, can be risky business. #paidAd In 2022, the Financial Conduct Authority (FCA) warned investment firms about how they use influencers to promote their products on social media. With an abundance of adverts offering…
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It’s sensible to review your protection cover each year and to discuss it with those close to you to make sure it still meets your needs. How would you cope if you became ill? Would you have to rely on your partner, or struggle on trying to work? Almost one in five (19%) working adults…
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Following three years of pandemic disorder in the buy-to-let (BTL) sector, 2023 is shaping up to be another eventful year for landlords. With several major legislative reforms due to come into force this year, what can landlords do to prepare? So, what’s changing? The Renters’ Reform Bill, which is set to be voted on before…
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Following annual house price growth of 2.8% in December, Nationwide’s latest House Price Index reveals a continued slowdown, with growth of 1.1% in January 2023 compared to January 2022. Prices are now 3.2% lower than their August peak. Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist said, “There are some encouraging signs that mortgage…
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Some 715,000 mortgage holders on tracker rates have seen payments rise by an average of £588 a year following the latest Bank Rate rise1. A further 895,000 on standard variable rates (SVR) will see yearly increases of £370. Monthly rise The Bank of England (BoE)’s Monetary Policy Committee (MPC) increased Bank Rate again in February.…
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Increasing numbers of older homeowners are choosing to release equity, latest figures1 reveal, with cost-of-living pressures the main reason for tapping into the value of their home. In total, homeowners used equity release to borrow £6.2bn in 2022, a 29% yearly rise and a doubling in the amount borrowed since 2017. It’s not only higher amounts…
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More than two in five landlords are not aware of the proposed Renters’ Reform Bill, a new survey1 claims, despite the impact it will have on their portfolios. The proposed legislation, which is set to be voted on before May 2023, includes many significant elements. If passed in full, the act will: According to the survey,…
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In a recent survey,1 41% of respondents agreed with the statement, ‘I cannot afford to live in the area I want or need to live in.’ Are buyers being priced out? Here or there? The results of the survey showed just how many renters and homeowners are unhappy with their current location. The key reasons for wanting or…
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