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Throughout 2023, it’s estimated that 1.8 million fixed-rate mortgage deals will expire¹. With mortgage rates at their highest in 15 years², many of those who remortgage will see their repayments increase sharply

A lot has been going on in the property market of late. Mortgage rates are rising, house prices are falling, and many homeowners are feeling uncertain about the future.

Fewer than one in five over 50s have arranged for their funeral costs to be covered by a life insurance policy, a new study¹ has revealed.

The average cost of buildings and contents insurance rose by less than inflation in the past year, the ABI’s Home Insurance Premium Tracker shows.

Uncertainty and rising rates are combining to put pressure on buyers who are growing increasingly cautious, which in turn is pressurising prices.

Homeowners coming to the end of a five-year fixed term, on an average rate of 1.99%, would have been paying £725 a month. The average rate for a five-year fixed-term mortgage was 5.83% at the end of June 2023. On a remaining mortgage balance of £143,465, those remortgaging onto another five-year fixed rate would see their average monthly repayment increase to £1,014 – a hike of £289 a month

Interesting data¹ has highlighted that although over 50% of married couples rely on both their incomes to cover the expense of their monthly costs, just 13% have purchased income protection (IP). This leaves a huge number of couples and their families vulnerable to financial shocks.

A standard mortgage used to run for 25 years but there is a growing trend for so-called ‘mammoth’ loans spread over up to 40 years as first-time buyers and movers opt for lower monthly payments.

Summer is here and activity in the housing and mortgage markets is hotting up… and cooling down at the same time. Latest data from the Royal Institution of Chartered Surveyors has positive news on housing supply, with a run of thirteen successive negative monthly readings for new instructions coming to an end with a positive reading in May. This is the strongest reading for new listings since March 2021¹.

People tend to think about life insurance at trigger points in their life such as having children. It’s normal when people take on greater responsibility in their lives that they assess their ability to provide financial security to loved ones if the worse were to happen.