Category: News

New figures have revealed that first-time buyers are now paying an eye-watering £163,047 on rent before they are able to purchase their first home. This represents a 40 per cent increase in a decade, according to research from specialist mortgage lender Perenna¹.

Back in 2015, renters typically spent £116,427 before buying. Today, they are parting with £46,621 more, as rising rents and living costs make saving for a deposit harder than ever¹.

This amount is now equivalent to a 60 per cent deposit on the average UK home, highlighting how much money is being spent without building equity or ownership¹.

Why It Matters to Existing Homeowners and Landlords

While this may seem like an issue only affecting first-time buyers, it has significant implications for homeowners and landlords too.

• For Homeowners Looking to Sell:
  First-time buyers are the base of the housing chain. When fewer people can afford to take that first step, it slows demand for entry-level homes, which in turn makes it harder for sellers to move up the ladder. This can lead to slower sales and longer periods of uncertainty when trying to complete property transactions.
• For Landlords:
  Higher rents mean strong demand for rental properties, which can support yields. However, it can also create political and regulatory pressure for rent controls or stricter tenant protections. With average rents continuing to rise faster than wages, landlords should keep a close eye on potential government interventions.

House Prices and Deposits

According to the Office for National Statistics, the average UK house price reached £270,000 in July¹.

• A 10 per cent deposit now requires around £27,000, a target many renters find increasingly out of reach due to high rental costs and the elevated cost of living¹.
• This creates a vicious circle, with tenants struggling to save while paying high rents, further delaying their entry into the housing market.

Mortgage Affordability Rules Begin to Ease

Even for renters who have managed to save, strict mortgage affordability rules are another obstacle.

• Most single buyers are limited to borrowing 4.5 times their annual salary, which can be insufficient to buy in many parts of the country¹.

Some lenders are now loosening these restrictions following regulatory changes announced by Chancellor Rachel Reeves, potentially opening the door for more buyers to secure mortgages¹.

For homeowners, this could mean a broader pool of buyers and a stronger, more active market when selling a property.

Renting for Longer Than Ever

Perenna’s research also found that first-time buyers now spend 12.8 years renting before purchasing, up from 11.4 years a decade ago, based on the assumption they start renting at age 21¹.

Colin Bell, founder of Perenna, said¹:

“There is a time and a place for renting. While some may make the personal choice to rent in the long term, others are forced into a seemingly never-ending cycle of rising costs.

Renting is ultimately money spent without return. Unlike mortgage payments, which build equity, rent offers no stake in the property – even though renters often pay more each month than they would for a mortgage.”

Rents Hit Record Highs

The rental market is under extreme pressure, with average rents rising by 5.7 per cent in the year to August¹:

• UK average monthly rent: £1,348
• London: £2,253, the highest in the country
• North East: £745, the lowest
• Wales: saw the sharpest annual increase, up 7.8 per cent to £811
• Scotland: up 3.5 per cent to £1,002

Ben Twomey, chief executive of Generation Rent, said¹:

“Rents continue to rise faster than wages, swallowing more and more of people’s income.

We rightly have caps on our energy and water bills, but there are no protections to stop landlords from pricing us out of our homes.”

For landlords, this highlights both opportunity and risk. Strong rental demand can be positive for returns, but it also increases the likelihood of political action to control rising rents.

Low-Deposit Mortgages Offer Hope

To help renters break free from the rental trap, some lenders are introducing low-deposit mortgage products.

• Newcastle Building Society, for example, has recently launched a two per cent deposit mortgage¹.

While these products could help some first-time buyers, they often come with higher interest rates and strict eligibility rules, meaning they are not suitable for everyone.

Colin Bell believes more needs to be done¹:

“With house prices rising, renters are spending their hard-earned money without gaining an asset. The market needs better financial mechanisms to lift buyers onto the ladder.”

What Homeowners and Landlords Should Consider

• For Homeowners:
  The introduction of more flexible mortgage rules and low-deposit products could increase the number of active buyers in the market. This may help maintain property values and make it easier to sell your home when the time comes.
• For Landlords:
  Higher rental costs may strengthen demand for rental properties, but landlords should plan for possible regulatory changes such as rent caps or increased tenant protections. A balanced approach to rent setting will help maintain strong relationships with tenants while reducing risk.

Looking Ahead

The next few months will be crucial for both buyers and sellers. With new mortgage products emerging and lenders relaxing affordability criteria, more renters could finally make the move into homeownership.

For homeowners and landlords, staying informed about these shifts is essential to protect investments, plan future moves, and adapt to a changing housing landscape.

Source:

1. Msn.com. (2025). This is how much first-time home owners spend on rent before buying – it’s risen £46,621 in a decade  Available at: https://shorturl.at/utj5W.   [Accessed 22 Sep. 2025].

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‌Your home/property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.

All the information in this article is correct as of the publish date 25^th September 2025. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

Please be aware that by clicking on to any of the above links you are leaving our website. Please note that neither we nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

Fraudsters pretending to be the Financial Conduct Authority (FCA) have targeted thousands of people this year, with almost 5,000 fake FCA scams reported in the first half of 2025¹.

The FCA has issued a stark warning after its consumer helpline received 4,465 reports of scammers posing as its staff in the first half fo 2025. Of these, 480 people were tricked into handing over money, with some possibly losing significant amounts of savings¹.

Almost two-thirds of victims were aged 56 or over¹, making older homeowners and retirees a particular target for these ruthless criminals.

How the Scams Work

The scams are becoming increasingly sophisticated, using phone calls, emails, texts and even WhatsApp messages to contact potential victims. Once trust has been gained, the fraudsters try to steal money or sensitive details such as bank account PINs and passwords.

Common scam tactics reported to the FCA include¹:

• Crypto wallet scams: Victims are told that a cryptocurrency wallet has been illegally opened in their name and that funds have been recovered, but they must pay a fee to access the money.
• Loan scam follow-ups: People who have already fallen victim to a loan scam are targeted again. Fraudsters claim the FCA can recover their money, but ask for further payments to do so.
• Fake County Court Judgements: Victims receive fake legal letters or emails stating that a creditor has taken out a County Court Judgement against them. They are then told they must pay the FCA directly to settle the debt.
• ‘Pig butchering’ scams: A disturbing trend where criminals build a personal or romantic relationship with a victim to gain trust, then lure them into a long-term investment scam. After the victim has lost money, the fraudsters pose as the FCA offering to help recover the funds, only to defraud them a second time.

Warning from the FCA

Steve Smart, joint executive director of enforcement and market oversight at the FCA, said¹:

“Fraudsters are ruthless. They attempt to steal money from innocent victims by impersonating the FCA.

We will never ask you to transfer money to us or to provide sensitive banking information such as account PINs and passwords. If you are in doubt, always check.”

In the whole of 2024 there were 10,379 reports of fake FCA scams, meaning 2025 is already on track to surpass last year’s figures.

Why Homeowners and Landlords Are at Risk

Homeowners and landlords are often prime targets because criminals assume they have significant assets tied up in property or investments. Many scams also focus on mortgages or arrears, making fraudulent emails or calls seem more convincing.

If you are a landlord, you may also receive genuine correspondence from letting agents, tenants or solicitors, which can make it easier for criminals to disguise fake messages as legitimate.

How to Protect Yourself

The FCA has issued clear advice to help people avoid falling victim to scams¹:

• Be cautious if you receive unexpected contact, whether by phone, text, email or messaging apps.
• Never share sensitive personal information, such as bank PINs or passwords.
• If you are unsure whether a message or call is genuine, contact the FCA directly through its official website or online contact form.
• Report any suspected scams to Action Fraud by calling 0300 123 2040 or visiting its website.
• In Scotland, report to Police Scotland on 101 or call Advice Direct Scotland on 0808 164 6000.

Stay Alert

With nearly 5,000 fake FCA scams reported already this year, staying vigilant is essential. By double-checking any unexpected communication and knowing the signs of fraud, homeowners and landlords can protect themselves, their families and their hard-earned assets from criminals.

Source:

1. FCA. (2025). Almost 5,000 fake FCA scams reported in first 6 months of 2025. [online] Available at: https://www.fca.org.uk/news/press-releases/fake-fca-scams-reported-6-months-2025 [Accessed 22 Sep. 2025].

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All the information in this article is correct as of the publish date 25^th September 2025. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

Please be aware that by clicking on to any of the above links you are leaving our website. Please note that neither we nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

The Bank of England base rate is currently 4.0%, having fallen from a peak of 5.25% over the past year¹. While this downward trend has provided some relief to borrowers, the key question for homeowners and landlords is how low rates might go and when.

Inflation is now 3.8%, down sharply from a peak of 11.1% in October 2022, but it remains above the Bank of England’s 2% target². This means policymakers must proceed carefully, balancing the need to control inflation with the aim of supporting economic growth.

What the Economists Are Saying

A recent discussion by the City AM Shadow Monetary Policy Committee revealed just how uncertain the outlook remains³.

• Four of the nine economists expect that the base rate could fall to 3% by the end of 2026, offering hope of lower borrowing costs in the future.
• Others forecast a slower pace of cuts, suggesting only one or two further reductions, with rates settling nearer 3.5%.

This difference of opinion reflects the challenge of determining the UK’s “neutral” rate – the level at which interest rates neither encourage rapid growth nor suppress it. Current market expectations suggest that this neutral rate may be higher in the UK than elsewhere, due to lingering inflationary pressures and structural factors in the economy.

Key Forecasts

Leading economists have provided a range of predictions³:

• Anna Leach, Chief Economist at the Institute of Directors, expects rates to stabilise between 3.5% and 3.75%, citing continued uncertainty following the pandemic and the unknown long-term impact of technological changes such as artificial intelligence.
• Ben Ramanauskas, Senior Research Fellow at Policy Exchange, believes rates could fall to 3% as a weakening labour market and tax pressures help bring inflation back to target more quickly than expected.
• Jack Meaning, Chief UK Economist at Barclays, forecasts a range of 3.0% to 3.5%, but warns that delaying rate cuts for too long could risk slowing the economy further, potentially forcing the Bank to cut more sharply later on.
• Jonathan Haskel, Professor at Imperial College and former member of the Bank of England’s Monetary Policy Committee, supports a 3.5% estimate, suggesting productivity gains from AI could keep rates slightly higher than in previous cycles.
• Julian Jessop, Independent Economist, also predicts 3.5%, based on inflation stabilising at 2% and real economic growth averaging 1.5%.
• Kallum Pickering, Chief Economist at Peel Hunt, takes a slightly higher view, expecting rates to settle at 3.75% due to persistent inflation pressures and strong domestic demand.
• Katharine Neiss, Chief European Economist at PGIM Fixed Income, sees rates falling to 3%, pointing to a cooling labour market and a lower neutral rate.
• Ruth Gregory, Deputy Chief UK Economist at Capital Economics, also forecasts a drop to 3% next year, highlighting how weaker employment figures could accelerate progress towards the inflation target.
• Vicky Pryce, Chief Economic Adviser at the Centre for Economics and Business Research, agrees that slowing inflation could give the Bank of England room to cut rates to 3%.

What This Means for Homeowners and Landlords

For borrowers, even small changes to the base rate can have a significant effect:

• Tracker and variable rate mortgages: Payments move directly in line with base rate changes, so a cut would reduce monthly costs almost immediately.
• Fixed-rate mortgages: Current payments remain the same until your deal ends, but the cost of your next deal depends on where lenders expect rates to be in the future.

A reduction of just 1% on a £200,000 mortgage over 25 years could save more than £100 per month, making forward planning essential.

Taking Action Now

While rates may continue to fall gradually, the timing is uncertain. Acting early is key:

1. Check when your mortgage deal ends and start planning well before it expires.
2. Avoid falling onto your lender’s Standard Variable Rate (SVR), which is often several percentage points higher than fixed-rate deals.
3. Speak to a mortgage broker with access to a comprehensive panel of lenders. They can help you decide whether to lock in a fixed rate now or wait, based on market conditions and your personal circumstances.
4. Consider your wider financial plan, including protection such as income protection or life insurance, to ensure you can keep your home secure in the event of illness or loss of income.

Looking Ahead

While there is widespread agreement that interest rates will continue to fall, economists differ on how far and how fast cuts will happen. Whether rates settle closer to 3% or 3.75%, staying informed and proactive will help you make the best decisions for your mortgage.

By reviewing your mortgage early and seeking professional advice, you can avoid unnecessary costs and take advantage of falling rates when they arrive.

Sources:

1. Bank of England (2025). Interest rates and Bank Rate. Available at: https://www.bankofengland.co.uk/monetary-policy/the-interest-rate-bank-rate         [Accessed 22 Sep. 2025]
2. BBC (2025) UK inflation: What is the rate and why are prices still rising?  Available at: https://www.bbc.co.uk/news/articles/c17rgd8e9gjo            [Accessed 22 Sep. 2025]
3. Mortgage Introducer  (2025). Interest rates will fall to 3% – economists. Available at: https://www.mpamag.com/uk/news/general/interest-rates-will-fall-to-3-economists/550280      [Accessed 22 Sep. 2025].

Your home/property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.

All the information in this article is correct as of the publish date 25^th September 2025. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

Please be aware that by clicking on to any of the above links you are leaving our website. Please note that neither we nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

Taking out a mortgage is one of the biggest financial commitments you will ever make. While securing your initial deal can feel like a major milestone, it is only the beginning. With most UK mortgages offering two or five-year fixed rates, many homeowners will need to remortgage sooner than they realise. Failing to plan ahead can result in paying far more than necessary and leaving your home at risk if life takes an unexpected turn.

The Cost of Doing Nothing

When your fixed-rate deal ends, your mortgage will usually move to your lender’s Standard Variable Rate (SVR).

• SVRs are usually four or five percentage points higher than fixed-rate deals.
• This could increase your monthly repayments by hundreds of pounds.

Even if interest rates are higher than when you first took out your mortgage, remortgaging almost always costs less than staying on an SVR. Doing nothing could mean paying thousands of pounds more each year.

Why Speak to a Mortgage Broker

1. Access to a Comprehensive Panel of Lenders

A mortgage broker works with a comprehensive panel of lenders. This means they can review a wide range of mortgage products rather than being restricted to the deals offered by your current bank or building society. This gives you a much better chance of finding the most competitive option for your circumstances.

2. Matching You With the Right Lender

Every lender has its own criteria for approving applications. These include how they assess income, the type of property being purchased, and even whether they accept applicants who have recently changed jobs or are self-employed.

• Going directly to one lender increases the risk of being rejected.
• A mortgage broker understands these rules and can match you to a lender who is more likely to approve your application.

3. Planning for the Unexpected

A mortgage is not just about buying a home. It is also about protecting your ability to stay in it.

• A mortgage broker will review protection options, including life cover, critical illness cover, and income protection.
• These products ensure that if illness, injury, or even death affects your household income, you and your family will still be able to afford your home.

This additional level of planning gives you peace of mind and helps protect your family’s future.

4. Avoiding Mistakes

Applications can be complicated, especially if you have a unique situation such as self-employment, multiple income sources, or a property of non-standard construction. A broker’s expertise helps avoid errors and delays, reducing the risk of a failed application.

Timing Is Crucial

You can apply for a new mortgage up to six months before your current deal ends.

• Acting early allows you to lock in a competitive rate and move seamlessly from one deal to another.
• Lender offers are typically valid for three to six months, giving you flexibility to plan ahead.

Waiting too long increases the risk of slipping onto an expensive SVR while your application is being processed.

Other Benefits of Remortgaging

1. Access to Better Deals Through Equity Growth
   As you repay your mortgage and your home’s value increases, your loan-to-value ratio improves. This can unlock cheaper rates that were not available to you before.
2. Release Equity for Major Plans
   Remortgaging can allow you to release some of the value in your home to fund renovations or pay off other debts. This must be carefully considered, as it will increase your monthly payments and the total interest you pay.
3. Make Overpayments Without Penalties
   When your current deal ends, it is often a good time to make lump-sum payments without facing early repayment charges.

Steps to Take Now

• Check the exact date your current deal ends.
• Gather documents such as proof of income, bank statements, and ID to speed up the process.
• Review your credit file to ensure there are no errors that could delay your application.
• Speak to a mortgage broker early to discuss both mortgage rates and protection needs.

Why It Pays to Get Advice

Going directly to your lender limits you to their products alone. A mortgage broker with access to a comprehensive panel of lenders can help you secure the most competitive deal while also advising on protection to keep your home safe.

By acting early and seeking professional advice, you can save money, avoid unnecessary stress, and ensure that your family and your home are secure, no matter what the future brings.

Your home/property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.

All the information in this article is correct as of the publish date 25^th September 2025. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

Homeowners coming to the end of a fixed mortgage deal are finally getting some good news. For the first time in nearly three years, the average two-year fixed mortgage rate has slipped below five per cent.

According to industry data, the average two-year fix now stands at 4.99 per cent, compared with 5 per cent for a typical five-year deal. It marks a dramatic turnaround from the turbulence of recent years, when rates spiked above six per cent in the aftermath of Liz Truss’s 2022 mini-Budget and again during the inflation surge of 2023¹.

For borrowers, the impact is clear. Someone remortgaging a £200,000 loan over 25 years could now be looking at monthly payments of around £1,167 – hundreds less than the sums being quoted at last year’s peak.

Why Rates Are Finally Falling

The Bank of England’s decision to cut the base rate to 4.0 per cent earlier this month has helped to ease borrowing costs². At the same time, competition among lenders has intensified, with many banks lowering rates to attract remortgage business after a quieter start to the year.

The result is that deals once thought unthinkable are now back on the table. Borrowers with strong equity are seeing two-year fixed rates well below four per cent. For example, Santander is offering a 3.78 per cent two-year fix for homeowners with at least 40 per cent equity. Buyers with a 15 per cent deposit can secure a 3.94 per cent two-year fix from Yorkshire Building Society³.

What This Means for You

If your current deal is ending soon, the market looks far more positive than it did a year ago. Rates remain higher than the record lows of the late 2010s, but they have fallen steadily from the 2023 highs.

Choosing the right deal is about more than the headline number, however. Borrowers must weigh up:

• Two-year fixes: greater flexibility if rates keep falling, but you may face arrangement fees again sooner.
• Five-year fixes: longer security against future rises, though you might miss out if rates continue to drop.
• Three-year fixes: increasingly available, striking a balance between short-term freedom and medium-term certainty.
• Trackers: these follow the Bank of England’s base rate plus a margin and can offer flexibility, but repayments could rise again if rates move upwards.

A Moment of Opportunity

The mortgage market has been through a period of volatility, but the signs now point towards greater stability and more competitive pricing. For many families, this represents an opportunity to reduce monthly costs and plan with more confidence.

If your fixed rate is due to end within the next six months, now is the right time to review your options. Speak to us and we can help you understand how the latest changes in the mortgage market could affect your repayments.

Sources

1. Yahoo Finance (2025). Average two-year mortgage rate dips below 5% for first time since mini-budget. Available at: https://uk.finance.yahoo.com/news/average-two-mortgage-rate-dips-100452702.html          [Accessed 20 Aug. 2025].
2. Bank of England (2025). Bank Rate reduced to 4% – August 2025. Available at: https://www.bankofengland.co.uk/monetary-policy-summary-and-minutes/2025/august-2025       [Accessed 20 Aug. 2025].
3. MSN.com. (2025). Two-year fixed mortgage rates hit lowest level since Liz Truss’s 2022 mini-BudgetAvailable at: https://www.msn.com/en-au/money/news/two-year-fixed-mortgage-rates-hit-lowest-level-since-liz-truss-s-2022-mini-budget/ar-AA1KK17M?ocid=socialshare  [Accessed 20 Aug. 2025].

Your home/property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.

All the information in this article is correct as of the publish date 28^th August 2025. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

Please be aware that by clicking on to any of the above links you are leaving our website. Please note that neither we nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page

Millions of self-assessment taxpayers are being urged to stay vigilant after HM Revenue & Customs (HMRC) revealed it had received more than 170,000 scam referrals in the year to 31 July 2025¹.

While this is a 12 per cent fall compared with the previous year, over 47,000 of the reports involved fake tax refund scams, where fraudsters impersonated HMRC to try and steal personal or banking details¹.

The Latest Scam Tactics

Fraudsters are becoming increasingly sophisticated. Many scams involve texts, emails or phone calls claiming to be from HMRC, promising a tax rebate or demanding urgent payment. Some now use artificial intelligence to create convincing copies of official HMRC communications.

High-pressure tactics are also common. Scammers often call during busy times, such as commuting hours or the school run, to frighten people into handing over details.

HMRC’s Chief Security Officer, Kelly Paterson, said:
“Scammers target individuals when they know self-assessment customers will be preparing to file their tax returns. We are urging everyone to stay alert to scam emails and texts offering fake tax refunds. Taking a moment to pause and check can make all the difference.¹”

How to Spot a Scam

HMRC has stressed there are clear warning signs. The tax office will never:

• Leave voicemails threatening legal action or arrest
• Ask for personal or financial information via text message or email
• Contact customers to inform them of a refund or request that they claim one by text or phone

If you are due a refund, you can only claim it securely through your HMRC online account or the official HMRC app¹.

Tips to Stay Protected

• File your tax return early to reduce the chance of being caught off guard close to the 31 January 2026 deadline.
• Treat unexpected calls, emails or texts with caution.
• Do not share sensitive details such as passwords, bank codes or access credentials with anyone.
• If in doubt, always log in directly to your HMRC account rather than clicking on links in messages.

How to Report Scams

If you believe you have been targeted:

• Forward suspicious emails to phishing@hmrc.gov.uk
• Forward suspicious texts to 60599
• Report scam phone calls via GOV.UK

By reporting scams quickly, you help HMRC to act and protect others.

Source:

1. HM Revenue & Customs (2025). Scams warning as Self Assessment customers targeted. Available at: https://www.gov.uk/government/news/scams-warning-as-self-assessment-customers-targeted  [Accessed 22 Aug. 2025].

All the information in this article is correct as of the publish date 28th August 2025. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

Please be aware that by clicking on to any of the above links you are leaving our website. Please note that neither we nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

With A-level results day now a distant memory, many young people are preparing to move away from home for the first time to begin their university journey. Alongside clothes and kitchen items, students will often pack laptops, smartphones, tablets, cameras and even bicycles. These possessions can be extremely valuable, and without suitable insurance, a single theft or accident could cause significant disruption and financial strain.

Are Students Covered Under Their Parents’ Insurance?

It is important for families to check whether a student’s possessions are covered under an existing home contents insurance policy. Some providers will include this, although the cover may only apply if the student returns home during holiday periods. For example, Aviva Direct Home insurance allows up to £12,000 worth of belongings to be covered at term-time accommodation, provided the student is in full-time education and regularly returns home¹.

However, not all home contents policies include this benefit. Some require an optional extension, while others exclude student belongings altogether. Parents should therefore review their policy carefully before assuming that cover is in place.

The Value of Student Possessions

It is easy to underestimate the value of what students take to university. A typical laptop may cost £500 to £1,000, while a smartphone can range from £300 to more than £1,000. Adding headphones, tablets, sports equipment or a bicycle can easily bring the total into several thousands of pounds. Losing one or more of these items without insurance could place a heavy financial burden on a student budget.

Points to Consider When Arranging Cover

1. Check parental policies first. Find out if the existing policy covers belongings away from home, and under what conditions.
2. Review limits on single items. High-value gadgets and bicycles may need to be specified separately if they exceed the single-item limit.
3. Understand the excess. A higher excess may reduce premiums but increases the amount you need to pay if a claim is made.
4. Consider out-of-home cover. Students frequently use devices in libraries, cafés and on campus, so it is important to know whether these situations are included.
5. Check exclusions. Some policies may exclude accidental damage or have limits on how long a property can be left unoccupied.

Prevention Is Better Than Cure

While insurance provides valuable protection, prevention is equally important. Students should:

• Keep valuables out of sight when not in use.
• Lock doors and close windows, even if only leaving the room for a short time.
• Register devices with tracking or serial number services.
• Mark items with a UV pen or security tag to help with recovery if stolen.

Important Reminder

This article is intended to provide general information only. It does not constitute regulated financial advice. Insurance terms, conditions and availability vary, and it is essential that families review their own circumstances and, where appropriate, seek guidance from a professional adviser.

In Summary

As students prepare for the move to university, ensuring their possessions are protected is an important step. With the average value of belongings often reaching several thousands of pounds, suitable cover offers peace of mind for both students and parents at what is already a significant moment of change.

Sources

1. Aviva (2024). Aviva offers £12,000 worth of cover for student belongings under parents’ home contents insurance. Available at: https://www.aviva.com/newsroom/news-releases/2024/09/aviva-offers-12%2C000-pounds-worth-of-cover-for-student-belongings-under-parents-home-cover/ [Accessed 20 Aug. 2025]

All the information in this article is correct as of the publish date 28^th August 2025. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

Please be aware that by clicking on to any of the above links you are leaving our website. Please note that neither we nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

When your mortgage deal comes to an end, most people focus on securing the best new rate. However, remortgaging is also the perfect time to step back and look at the bigger picture. It is not only about lowering your monthly repayments, it is also about ensuring that your financial safety net continues to protect you and your family.

Life Has a Way of Changing

A great deal can change in just a few years. You might have got married, welcomed a child, moved jobs or even started working for yourself. Each of these milestones alters your financial responsibilities, and with them, the type and level of protection you may require.

For example, the life insurance policy you arranged when you first bought your home may have been set to match the mortgage balance at the time. If you have since borrowed more or extended the term of your loan when remortgaging, your old cover may now leave you short of what you actually need.

Likewise, income protection that once seemed adequate may no longer reflect your current earnings or expenses. If you have moved employer, changed your contract type or now rely on variable income, you could be more vulnerable to a sudden drop in household finances if illness or injury were to stop you working.

Even your buildings and contents insurance may be out of date. Many households underestimate the value of their possessions. A few years of new furniture, technology and home improvements can quickly add thousands of pounds that need to be reflected in your cover.

The Hidden Risk of Protection Gaps

Research shows that 12 million households in the UK are under-protected¹. This means that if the unexpected were to happen such as a serious illness, a period out of work or even a bereavement, families could find themselves unable to maintain mortgage payments or keep up their standard of living.

Without the right protection in place:

• A surviving partner could face the mortgage alone, putting the family home at risk.
• An accident or long-term illness could leave the household with only statutory sick pay to rely on.
• A burglary, flood or fire could cause significant financial loss if buildings and contents cover is not sufficient.

Why Remortgaging Is the Perfect Time to Review

When you remortgage, you are already reviewing your finances and long-term plans. This makes it the ideal moment to consider whether your protection arrangements still do the job you need them to.

A review at this stage helps to ensure that:

• Life insurance reflects your outstanding mortgage balance and provides enough to safeguard your family’s financial wellbeing.
• Income protection is aligned to your current salary, lifestyle and employer benefits.
• Buildings and contents insurance accurately represents the true value of your home and possessions today.

It is not only about identifying gaps. A review can also uncover opportunities to improve cover or even reduce costs. Many households discover that by updating or switching policies, they can increase their level of protection and lower their premiums at the same time.

A Real-World Example

Imagine a couple who originally arranged £150,000 of life cover when they first bought their home. A decade later, they have increased their mortgage to £200,000 in order to pay for a loft conversion. If their cover had not been reviewed, their family would face a £50,000 shortfall in the event of a claim. A simple review during remortgaging would realign their protection with their mortgage, ensuring their home and family remain secure.

Source:

1. MoneySuperMarket (2024). Two thirds of UK households underinsured as inflation causes replacement costs to soar. Available at: https://www.moneysupermarket.com/news/uk-households-underinsured/ [Accessed 22 Aug. 2025].

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All the information in this article is correct as of the publish date 28th August 2025. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

Please be aware that by clicking on to any of the above links you are leaving our website. Please note that neither we nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

Homeowners whose fixed-rate mortgage deals expire in early 2026 are being urged to start planning ahead, as a new wave of rate rises and higher payments could be on the horizon.

UK Finance data shows that around 1.6 million fixed-rate mortgage deals are due to end in 2025, with a similarly high number expected to mature in 2026 ¹ .If you are one of them, it is important to act early to avoid the shock of increased monthly payments and to secure the most suitable deal for your circumstances.

Five-Year Fixes: A Different World in 2021

Many households locked into five-year fixed rates in 2021, when the Bank of England base rate was at an historic low. At that time, borrowers could secure deals below 2 percent, making mortgage repayments relatively affordable. Since then, the landscape has changed dramatically. The Bank of England raised interest rates repeatedly to tackle inflation, pushing its base rate to 5.25 percent in 2024, with mortgage rates following suit ². If your five-year deal is coming to an end in early 2026, you are likely to face a significant increase in your monthly payment.

Two-Year Fixes: The Turmoil of 2023

If you fixed your mortgage rate for two years in 2023, you may remember that rates were unusually high. This was a direct result of the financial market upheaval caused by the September 2022 mini-budget. Many lenders withdrew products or repriced them, with two-year fixed rates often above 6 percent. If you fixed during this period, you have already been managing higher payments. As your deal nears its end, it is wise to plan early to secure the most suitable next rate, as the market remains volatile and rates are still well above pre-2022 levels.

Three-Year Fixes: Caught in the Middle

Some borrowers opted for three-year fixes in 2022. At the start of that year, rates were relatively low, but they began to rise quickly as the Bank of England increased rates to control inflation. After the mini-budget in September 2022, mortgage rates surged even higher. Borrowers who fixed early in 2022 benefited from better rates, while those who waited faced higher payments ³. If your three-year deal is due to finish in 2026, you should review your options as soon as possible to avoid rolling onto your lender’s standard variable rate, which is usually more expensive.

What Should Homeowners Do Now?

Experts agree that it is not wise to leave your next mortgage decision until the last minute. Most lenders allow you to secure a new deal up to six months before your current rate expires. Acting early can help you lock in a competitive rate and avoid unwelcome surprises if the market changes again. If rates fall before your new deal begins, you may have the option to switch to a better deal.

Here is what you should do:

• Check the end date of your current mortgage deal.
• Speak to your adviser several months before your deal expires.
• Compare the latest rates and products on the market.
• Consider your household budget and whether you need certainty or flexibility in your payments.

Why Early Action Matters

Mortgage rates have risen sharply since 2021 and may not drop significantly in the near future. The Bank of England has indicated that interest rates will remain higher for longer to bring inflation under control. This means many homeowners will see their payments increase, and planning ahead can help you manage your finances and avoid any nasty shocks⁴.

The Bottom Line

Whether your mortgage was fixed during the bargain rates of 2021, the market chaos of 2023, or the uncertain times of 2022, now is the time to review your options. Acting early could help you secure a more affordable deal and give you peace of mind as you plan for the future.

If you have questions about your mortgage or want to discuss your next steps, contact your adviser as soon as possible.

References:

1. UK Finance (2025) Household Finance Review: Q1 2025. Lee Hopley (Director, Economic Insight & Research) and James Tatch (Principal, Head of Analytics). UK Finance, June 2025. Available at: https://www.ukfinance.org.uk/system/files/2025-06/Household%20Finance%20Review%202025%20Q1.pdf  [Accessed 23 Jul. 2025].
2. The Guardian 2024. Soaring UK mortgage rates have pushed 320,000 adults into poverty, thinktank says. Available at: https://www.theguardian.com/society/article/2024/jul/25/soaring-uk-mortgage-rates-have-pushed-320000-adults-into-poverty-thinktank-says [Accessed 23 Jul. 2025].
3. Morningstar UK,, 2022. Lenders withdraw mortgages after mini-budget sparked market turmoil .Available at: https://www.morningstar.co.uk/uk/news/AN_1664217395970258700/lenders-withdraw-mortgages-after-mini-budget-sparked-market-turmoil.aspx    [Accessed 23 July 2025].
4. MoneyWeek, 2025. Millions of homeowners to see mortgage payments rise. 10 July. Available at: https://moneyweek.com/personal-finance/mortgages/mortgage-payments-rise [Accessed 23 July 2025].

‌Your home/property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.

All the information in this article is correct as of the publish date 31^st July 2025. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

Please be aware that by clicking on to any of the above links you are leaving our website. Please note that neither we nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

First-time buyers across the country are set to benefit as a growing number of high street lenders follow Skipton Building Society’s lead in lowering the income required to borrow more against your salary.

Just days after Skipton announced it would cut its minimum income threshold for higher loan-to-income mortgages from £50,000 to £40,000, Nationwide and Yorkshire Building Society have rolled out similar reforms ¹. The changes are set to make it easier for thousands more people to step onto the property ladder, as the market responds to calls from the Prudential Regulation Authority to boost support for new buyers.

Nationwide Expands High-Income Lending

Nationwide, Britain’s largest building society, now allows sole first-time buyers earning just £30,000 to access its flagship Helping Hand mortgage deals. Previously, the income requirement stood at £35,000. For joint applicants, the minimum combined income has dropped from £55,000 to £50,000. These mortgages allow borrowing up to six times your salary, subject to affordability checks, opening the door for many who would previously have fallen short.

Henry Jordan, director of home at Nationwide, said that these changes are expected to help at least 10,000 extra first-time buyers this year. He added that the building society acted quickly in response to the regulator’s announcement, confident it will make a real difference to buyers facing high house prices ².

Yorkshire Building Society Follows Suit

Yorkshire Building Society and its specialist lending arm, Accord Mortgages, have also reduced the minimum income needed for their high loan-to-income deals. Borrowers now need an income of only £50,000 to access five-times income mortgages, down from £75,000. These products are now available at up to 95 percent loan-to-value, giving a significant boost to those with smaller deposits³.

Earlier this year, Yorkshire also eased its interest-rate stress test, allowing customers to borrow more while still meeting responsible lending standards⁴.

Why Are Lenders Making These Changes?

The shift comes after the Bank of England’s Prudential Regulation Authority relaxed the rules for lenders. Previously, high loan-to-income lending was capped at 15 percent of new mortgages. Now, as long as lenders meet strict overall lending standards, they can apply to lend more at higher income multiples. The move is aimed at helping first-time buyers, who have seen average house prices rise far faster than wages in recent years.

Mortgage advisers are welcoming the news, with many saying the reforms will make homeownership more realistic for those who might have been stuck renting otherwise. However, all lenders insist that proper affordability checks will remain, and urge buyers to seek advice to ensure they are not overstretching themselves ⁵.

What Does This Mean for You?

If you have been struggling to save a large deposit or have just missed out on borrowing enough in the past, these new rules could make a real difference. Whether you are a single buyer or purchasing as a couple, it is now easier to access higher loan amounts with a lower income, provided you can demonstrate you can afford the repayments.

Mortgage brokers say that with more lenders offering flexible deals and higher income multiples, now is an excellent time for first-time buyers to review their options and get professional advice.

The Bottom Line

The high street mortgage market is opening up for first-time buyers, with Skipton, Nationwide and Yorkshire Building Society leading the way. These changes could help thousands more people achieve their dream of homeownership this year.

If you are considering buying your first home or want to know how much you could borrow, now is the time to speak to a mortgage adviser for expert guidance.

 References:

1. Mortgage Finance Gazette.  (2025). Skipton BS lowers high LTI thresholds to £40,000 from £50,0000    – Mortgage Finance Gazette. [online] Mortgage Finance Gazette. Available at: https://www.mortgagefinancegazette.com/market-news/skipton-bs-lowers-high-lti-thresholds-to-40000-from-500000-21-07-2025/ [Accessed 23 Jul. 2025].
2. Nationwide Building Society Media Centre. (2025). Nationwide expands first-time buyer mortgages support after regulator relaxes high loan-to-income rules. Available at: https://www.nationwidemediacentre.co.uk/news/nationwide-expands-first-time-buyer-mortgages-support-after-regulator-relaxes-high-loan-to-income-rules [Accessed 23 Jul. 2025].
3. Mortgage Solutions. (2025). Yorkshire BS enhances FTB support following LTI limit changes from regulator. [online] Mortgage Solutions. Available at: https://www.mortgagesolutions.co.uk/news/2025/07/15/yorkshire-bs-enhances-ftb-support-following-lti-limit-changes-from-regulator/ [Accessed 23 Jul. 2025].
4. Financial Reporter (2025). YBS and Accord enhance high-LTI offering following limit changes. Financial Reporter. Available at: https://www.financialreporter.co.uk/ybs-and-accord-enhance-high-lti-offering-following-limit-changes.html? [Accessed 23 Jul. 2025].
5. Reuters (2025). UK banks can increase riskier mortgage lending, BoE says.Available at: https://www.reuters.com/sustainability/boards-policy-regulation/uk-banks-can-increase-riskier-mortgage-lending-boe-says-2025-07-09/ [Accessed 23 Jul. 2025].

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‌Your home/property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.

All the information in this article is correct as of the publish date 31^st July 2025. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

Please be aware that by clicking on to any of the above links you are leaving our website. Please note that neither we nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.