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In a survey of UK workers, 37% of respondents thought life insurance and income protection cost more than they actually do¹.

First time buyers (FTBs) seem to be struggling to get onto the property ladder independently, as 12% relied on financial support from family members to purchase a home in November 2023¹.

In 2022, people in the UK unknowingly spent half a billion pounds¹ on subscriptions that automatically renew.

Some leading experts have suggested that the Bank of England (BoE) could be forced to bring forward its first planned interest rate cut sooner rather than later in 2024 if inflation drops to 2% by April.

Chief economist at Oxford Economics, Andrew Goodwin has expectations that the Consumer Price Index (CPI) will average 2.1% in 2024 – much lower than the November forecast of 3.1%, adding “Inflation is on track to return to the 2% target in April”, which is 18 months earlier than the Bank of England current forecast.

Good news for mortgages

What steps would you take if your health meant you were no longer able to work? For people with an income protection policy in place, it would likely be to focus on their health.

After prospective and existing mortgage borrowers had a tough year in 2023, there looks to be good news on the horizon.

Have you managed to stick to your new year resolutions? Undertaking a protection and mortgage review should be top of a financial to-do list for the coming year. But don’t worry if you haven’t tackled this task yet, just try to make it a priority in the coming months.

Considering extra mortgage payments? Given the current landscape, the question is– is it more prudent to overpay your mortgage or bolster your savings?

We understand that life insurance may not even cross the minds of many people under 30.

It may come as a surprise to learn that 63% of people¹ in the UK don’t have life insurance, despite knowing it would be beneficial. What’s stopping them?