Following a slight dip in April, UK house prices showed modest growth in May. The average house price rose monthly by 0.4% to £264,249 in May, having fallen by 0.4% the previous month. Promisingly, annual growth was also at 1.3%, up from 0.6% in April. Expert opinion Robert Gardner, Chief Economist at Nationwide, commented, “The
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Recent research has found that 52% of UK working parents do not have a financial protection policy in place which would cover them if they had to take time off work to care for an unwell child1. Who is not insured? Interestingly, nearly two thirds (65%) of those without protection are in part-time work, while
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Many people in their 30s and 40s might be slipping through the net when it comes to protection, as research indicates that this age group are most likely to be insufficiently insured1. Do you need a higher level of cover? If you have children who are dependent on you and your financial stability, simply covering
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Do you have pets? If so, is your home sufficiently insured against potential damage? It’s not just pet insurance you need to think about, as a survey has highlighted a common misconception that destruction caused by pets will always be covered by home insurance1. In reality, it depends on the details of your specific policy
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Demand for smaller homes has increased, indicating that the high cost of borrowing has prompted many homeowners to readjust their expectations. Annual property price growth hit 1.9% in February1 – a significant improvement on -4.1% which was recorded last October. Smaller properties were a key driver of this uptick, with annual growth for flats and
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With medic advances constantly evolving, it is important to review your critical illness cover to ensure it still meets the needs of you and your family. Which illnesses are covered? Insurers often revise the illnesses that are covered to reflect medical advances, so make sure you know your policy. For example, insurers will specify which
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If you are hoping to buy a new home soon, it’s never too early to start preparing – get yourself mortgage-ready this summer by following these steps. Work on your credit score Mortgage lenders will scrutinise your credit report to determine whether you can meet the monthly payments – the higher your score, the more
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Recent reports have highlighted that there is a general lack of knowledge when it comes to critical illness cover. Younger generations are particularly misinformed, with one study1 indicating that a fifth of Gen Z and Millennials don’t have critical illness cover because they do not understand it or its benefits. Meanwhile, a quarter thought that
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Prior to the Spring Budget, there was speculation that the government may introduce a 1% mortgage deposit scheme. That did not come to fruition; however, a leading mortgage lender has recently introduced a new product which offers first-time buyers (FTBs) a £5k deposit on homes up to £500,000 – effectively a 99% loan to value
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Recent figures indicate that more people than ever are taking out income protection insurance. In 2023, individual sales of income protection reached 247,000 – a 16% annual increase and a record high since data was first collected in 20001. 97% of these sales were purchased with advice, emphasising the importance of taking advice. More people
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