Speak to your mortgage adviser before borrowing more

As spring arrives, many people start thinking about home improvements and making changes to their home. Longer days and better weather can make it a natural time to plan improvements, whether that means building an extension, converting a loft, replacing a kitchen, upgrading a bathroom, improving energy efficiency or making the home more suitable for family life.

Home improvements can add comfort, space and, in some cases, value to your property. However, they can also involve significant costs. Materials, labour, planning requirements and unexpected issues can all affect the final amount you need to spend.

If you are considering borrowing more to pay for the work, it is worth speaking to your mortgage adviser before you make any firm commitments. They can help you understand the options available and whether additional borrowing may be suitable for your circumstances.

There may be several ways to fund home improvements. These could include a further advance from your existing lender, remortgaging to raise extra funds, a second charge mortgage, a personal loan or using savings. The right option will depend on your income, existing mortgage, property value, credit commitments, plans and budget.

If you borrow more against your home, your mortgage balance may increase and your home could be at risk if you do not keep up repayments. This is why it is important to consider whether the borrowing is affordable now and whether it would remain affordable if your circumstances changed.

It is important to look beyond the monthly payment. You should also consider the total cost of borrowing, the interest rate, any fees, the term of the borrowing and whether early repayment charges may apply. Extending borrowing over a longer period may reduce monthly payments, but it could increase the total amount of interest paid.

You should also check whether your current mortgage deal has any restrictions. If you are still within a fixed-rate period, remortgaging before the deal ends could trigger an early repayment charge. In some cases, another borrowing option may be more appropriate.

Before borrowing more, it is sensible to create a realistic budget for the work. This should include the main project costs, professional fees, planning or building control costs where relevant, VAT, temporary accommodation if needed and a contingency for unexpected expenses.

You may also want to consider whether the planned improvements are likely to support your longer-term plans. For example, the work may help you stay in the property for longer, create space for a growing family, improve energy efficiency or make the home more suitable as your circumstances change.

If the work is structural or significant, you should check whether you need planning permission, building regulations approval or consent from your freeholder, landlord or management company. You should also make sure you use suitable professionals and keep records of the work carried out.

Your insurance may also need reviewing. Major building work, extensions or changes to the property could affect your buildings insurance. You may need to tell your insurer before work begins to make sure you remain properly covered.

It is also worth reviewing your wider protection needs. If you increase your borrowing, extend your mortgage term or take on new monthly commitments, you may want to consider whether your life cover, critical illness cover or income protection remains suitable.

Home improvements can be a positive step, but borrowing more should be carefully considered. Taking advice early can help you compare your options, understand the costs and risks, and make an informed decision before you commit.

Please get in touch if you are thinking about home improvements and would like to understand your borrowing options. We can help you compare the possible routes, consider the costs and risks, and decide what may be suitable for your circumstances.
For more information contact us here Contact Us – The Finance House

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 30^th April 2026. 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 HLPartnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

Landlords must send the new Renters’ Rights information sheet to tenants by 31 May 2026

Landlords in England should check whether they need to send tenants the new Renters’ Rights Act Information Sheet 2026.

From 1 May 2026, the first phase of the Renters’ Rights Act 2025 comes into effect. As part of this, private landlords and letting agents must provide tenants with the official government Information Sheet where it applies. The GOV.UK page states that the guidance is for private landlords and letting agents in England¹.

The requirement applies to existing assured or assured shorthold tenancies created before 1 May 2026, where there is a written tenancy agreement or where the tenancy terms are wholly or partly recorded in writing¹.

The Information Sheet explains how the new rules may affect tenants, including changes to fixed terms, rent increases, possession rules, Section 21 notices and requests to keep a pet¹.

The deadline is 31 May 2026. Government guidance says that, for most tenancies that began before 1 May 2026, landlords will not need to change or re-issue existing written tenancy agreements. Instead, they must send tenants a copy of the government-produced Information Sheet, either digitally or on paper, by 31 May 2026¹.

The key point is that every named tenant must receive it. Where more than one tenant is named on the tenancy agreement, each named tenant should be given the Information Sheet.

Landlords should also make sure that it is sent in the correct format. The official Information Sheet is available on GOV.UK as a PDF. Landlords should provide the document itself, either as a hard copy or as a PDF attachment. They should not rely on simply sending tenants a link.

If the property is fully managed by a letting agent, landlords should check whether the agent is sending the Information Sheet on their behalf. GOV.UK guidance says landlords and agents must give tenants the required information, and the official Information Sheet page confirms that this is the document landlords and their agents must provide¹.

The position is different where the tenancy is based entirely on a verbal agreement made before 1 May 2026. In that situation, landlords must provide certain written information about the tenancy terms rather than the Information Sheet. Government guidance says tenants can complain to the local council if the required written information is not provided, and the landlord could receive a fine of up to £7,000¹.

For landlords, the practical action is simple.

Landlords should download the official Renters’ Rights Act Information Sheet 2026 from GOV.UK, send it to every named tenant by 31 May 2026, and keep a record of when and how it was sent¹.

As mortgage advisers, we cannot provide legal advice on landlord obligations. However, if the changing rental rules prompt you to review your buy-to-let mortgage, wider property plans or borrowing position, please get in touch.

This article is for information only and does not constitute legal or tax advice. Landlords should seek advice from a qualified legal, tax or lettings professional where required.
Contact us at Contact Us – The Finance House

References:

1. GOV.UK  (2026). The Renters’ Rights Act Information Sheet 2026. [online] GOV.UK. Available at: https://www.gov.uk/government/publications/the-renters-rights-act-information-sheet-2026     [Accessed 28 Apr. 2026].

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 30^th April 2026. 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 HLPartnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

Mortgage deal ending in 2026? Now is the time to review your options

If your current mortgage deal ending is due to end this year, it is worth reviewing your options sooner rather than later.

Across the UK, many homeowners are expected to reach the end of fixed-rate mortgage deals during 2026. UK Finance forecasts that 1.8 million fixed-rate mortgages are due to end this year, which means many borrowers will be reviewing their next steps at the same time¹.

The mortgage market also continues to change. Lenders have adjusted rates in recent weeks, but there is still uncertainty around whether borrowers should secure a new deal now or wait to see if pricing changes further. At the same time, household budgets remain under pressure, with UK CPI inflation rising to 3.3% in March 2026, according to the Office for National Statistics².

Is your mortgage deal ending? If your mortgage deal is coming to an end, the most important step is to understand your options before your current rate expires. If you do nothing, you may be moved onto your lender’s standard variable rate. This is often higher than the rate available on a new mortgage deal, which means your monthly payments could increase.

There are usually two main options to consider. You may be able to switch to a new deal with your existing lender, which is often known as a product transfer. Alternatively, you may be able to remortgage to a new lender if a more suitable option is available.

The right option will depend on your circumstances. Your income, property value, outstanding mortgage balance, credit commitments, future plans and attitude to risk can all affect what may be suitable for you.

It is also important to look beyond the interest rate. You may want to consider whether you need the certainty of a fixed monthly payment, whether you would prefer more flexibility, or whether your circumstances have changed since you last arranged your mortgage.

This is also a good time to review your wider financial position. If you have moved home, changed jobs, started a family, taken on additional borrowing or experienced a change in income, it may be sensible to review your protection needs, including life cover, critical illness cover or income protection.

The key message is not to leave it too late. Many lenders allow borrowers to secure a new deal several months before their current rate ends. In some cases, you may be able to reserve a new deal in advance and review your options again before it starts, depending on the lender and product selected.

Is your mortgage deal ending? If your mortgage deal is coming to an end within the next six months, now is a good time to speak to a mortgage adviser. Getting advice early can help you understand your options, compare the costs, avoid unnecessary pressure and make an informed decision about your next mortgage.

If your mortgage deal is due to end this year, please get in touch. We can help you review your options and consider what may be suitable for your circumstances.
For more information go to Mortgage – The Finance House

References:

1. UK Finance. (2026). Mortgage Market Forecasts. [online] Available at: https://www.ukfinance.org.uk/data-and-research/data/mortgage-market-forecast [Accessed 28 Apr. 2026].
2. ONS (2026). Consumer price inflation, UK. [online] Available at: https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/march2026  [Accessed 28 Apr. 2026].

‌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 30^th April 2026. 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 HLPartnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

Has your life changed since you last reviewed your protection needs?

Your mortgage is likely to be one of your biggest financial commitments, but it is easy to forget that your wider protection needs can change over time.

If you arranged life cover, critical illness cover or income protection when you first took out your mortgage, the cover may have been suitable for your circumstances at the time. However, your life may look very different now.

You may have moved home, changed jobs, become self-employed, started a family, increased your borrowing, reduced your working hours or taken on new financial commitments. Any of these changes could affect the type or level of protection you may need.

A mortgage review is a good opportunity to look at this again. If your current mortgage deal is coming to an end, or you are thinking about remortgaging, borrowing more or changing your mortgage term, it may also be sensible to review whether your protection arrangements still fit your circumstances.

Protection is not just about helping repay the mortgage if the worst happens. It can also help provide financial support with everyday household costs, bills, childcare and other commitments if you are unable to work because of illness or injury, or if your household income changes unexpectedly.

For example, life cover could help repay the mortgage or provide financial support for loved ones if you died during the policy term. Critical illness cover could pay out if you were diagnosed with a serious illness covered by the policy. Income protection could provide a regular income if you were unable to work because of illness or injury, subject to the terms of the policy.

The right protection will depend on your circumstances, budget, employer benefits, existing cover and financial responsibilities. It is also important to understand what is and is not covered, as policies can vary.

There are also different ways protection can be arranged. The amount of cover, length of the policy, waiting period, whether payments stay the same or increase over time, and whether cover is arranged individually or jointly can all affect suitability and cost. This is why it is important to review protection in the context of your needs, budget and existing arrangements.

You may already have some protection in place through your employer, such as sick pay, death-in-service benefit or private medical insurance. These benefits can be valuable, but they may not provide the same level of cover as a personal policy. They may also change if you move jobs or become self-employed.

It is also worth checking who your policy is designed to protect. If your circumstances have changed, you may need to review the amount of cover, the policy term, the type of cover, or whether the policy should be written in trust.

Reviewing your protection does not always mean taking out something new. It may simply confirm that your existing cover is still suitable. However, if there are gaps, it is better to understand them before you or your family need to rely on the policy.

If you already have protection in place, it is important not to cancel an existing policy without taking advice. A new policy may be more expensive, may include exclusions, or may not be available on the same terms, especially if your health, age or circumstances have changed.

If your mortgage, income or family circumstances have changed since you last reviewed your protection needs, now is a good time to speak to an adviser. They can help you understand your options and consider what may be appropriate for your needs and budget.

Please get in touch if you would like to review your protection needs. We can help you consider whether your current arrangements still support your home, your family and your wider financial plans.
Go to https://thefinancehouse.co.uk/life-assurance/
To check us on the FCA register go to https://register.fca.org.uk/s/firm?id=001b000000NMSh1AAH

Availability and cost of cover is subject to criteria such as age, lifestyle, current health and medical history.

All the information in this article is correct as of the publish date 30^th April 2026. 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 HLPartnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.