Is Your Heating at Risk? Why 900,000 Homes Must Upgrade Electricity Meters Before 30th June 2025

Almost one million homes across Great Britain are being urged to check their electricity meters following an important announcement from the energy regulator¹ about Upgrade Electricity Meters. A nationwide switch-off of a decades-old system could affect how heating and hot water are delivered in many properties. If you or someone you know has an older electric meter and uses an off- peak electricity tariff, this could be essential reading.

What is happening?

The Radio Teleswitch Service (RTS), sometimes called the Dynamic Teleswitch Service (DTS), is a technology that was introduced in the 1980s. It sends a radio signal to some older electricity meters to tell them when to switch between peak and off-peak rates. This allows households to heat their homes and water overnight when electricity is cheaper.

However, RTS is now reaching the end of its operational life. The signal infrastructure is no longer considered reliable or maintainable. As a result, the RTS signal will be permanently switched off on 30 June 2025¹.

According to Ofgem, around 900,000 RTS meters are still in use across Great Britain. All energy suppliers are expected to upgrade these meters before the switch-off date¹.

Why does it matter?

If you do not replace your RTS meter in time, your heating and hot water may stop working properly. For example, your system may switch on or off at the wrong time or fail to charge overnight. You might also be charged at the wrong times of day, which could result in significantly higher electricity bills.

This will not affect every old-style meter. Only RTS or DTS meters are impacted. However, if your property uses electric storage heaters, panel heaters, or immersion heaters, there is a strong chance you may have one.

How to tell if you have an RTS meter

There are a few signs to look for:

• You may have a separate switch box near your electricity meter that is labelled “Radio Teleswitch”.
• Your home is heated using electricity and does not have a gas supply.
• You live in a rural area or a high-rise flat.
• You are on a multi-rate tariff such as Economy 7, Economy 10, or Total Heating Total Control, where you pay cheaper rates at night.

If you are not sure, you should contact your electricity supplier. They will be able to confirm whether you have an RTS meter and arrange for an upgrade.

What should you do? Upgrade Electricity Meters?

The only technical replacement for an RTS meter is a smart meter. Smart meters can be programmed to deliver a similar service and will continue to support off-peak tariffs where available. Most households will be offered a smart meter by their electricity supplier at no cost.

If a smart meter cannot yet be installed in your area or property, your supplier will arrange for a suitable alternative. They are required to contact affected customers before the deadline to offer a replacement.

However, with hundreds of thousands of upgrades still needed, it is advisable to act early to ensure you are not left without heating or facing unnecessary delays.

What happens if you do nothing?

If you do not upgrade your RTS meter:

• Your heating and hot water may no longer function as intended.
• The system might stay on all the time or not come on at all.
• Your electricity supplier will not be able to record accurate peak and off-peak usage.
• You may lose access to cheaper off-peak rates and see your energy bills rise.

What are the benefits of a smart meter? And Upgrade Electricity Meters

Smart meters are modern devices that provide many advantages. They allow for automatic readings, accurate billing based on actual usage, and real-time monitoring of your energy consumption. Some tariffs are only available to smart meter users, and the meters make it easier to identify areas where energy can be saved.

Final advice about Upgrade Electricity Meters

If you are a homeowner, landlord or tenant and think your property might be affected, contact your electricity supplier as soon as possible. They will guide you through the process and arrange for a new meter to be installed in time.

Waiting too long could mean being caught out after the signal is switched off. It is better to be safe and make sure your home continues to run smoothly.

Sources:

1. National Energy Action (NEA). (2025). What you need to know about the Radio Teleswitch Service switch-off. Available at: https://www.nea.org.uk/radio-teleswitch-service-switch-off/#:~:text=Energy%20regulator%20Ofgem%20estimates%20there,their%20heating%20and%20hot%20water  . [Accessed 27 May 2025].
2. For more information, go to Mortgage – The Finance House

‌All the information in this article is correct as of the publish date 29^th May 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.

What Landlords Need to Know About the Renters’ Rights Bill

The Renters’ Rights Bill is expected to become law this year and will introduce significant reforms to the private rented sector in England. The changes are designed to improve tenant rights and raise housing standards, but they also bring new responsibilities for landlords¹.

This is a good time for landlords to understand what is coming, consider the potential impact on their business, and begin planning accordingly.

Changes to Tenancy Structure

The Bill will abolish Section 21 evictions. This means landlords will no longer be able to end a tenancy without giving a reason. All tenancies will become periodic by default, with tenants able to end their tenancy at any time by giving two months’ notice. Landlords will need to use specific legal grounds if they wish to regain possession of their property¹.

These grounds include moving into the property, selling it, or responding to tenant behaviour such as rent arrears or antisocial conduct. In some cases, landlords will need to wait twelve months after a tenancy begins before using certain grounds, and must give four months’ notice if they wish to repossess the property to sell or move in¹.

New Legal Requirements

The Bill introduces a number of new legal obligations. These include¹:

• Joining a mandatory Private Rented Sector Landlord Ombudsman Scheme
• Registering on a new national Private Rented Sector Database
• Updating tenancy agreements to reflect changes in the law
• Considering reasonable requests from tenants to keep pets in the property
• Complying with the Decent Homes Standard, which will now apply to the private rented sector
• Avoiding rental discrimination against tenants with children or those in receipt of benefits
• Ending the practice of rental bidding by setting and advertising a fixed asking rent

Failure to meet these requirements may result in financial penalties, limitations on repossession rights, or legal action.

Financial and Operational Considerations

There may be additional costs and administrative work for landlords. This includes time spent updating tenancy documents, ensuring compliance, and potentially upgrading properties to meet new standards.

However, there are also potential benefits. Tenants who feel secure and well-treated are more likely to remain in a property long term. This can reduce void periods, improve rental income consistency, and reduce arrears. Well-maintained properties that meet modern standards may also retain or increase their value over time.

It is important to note that landlords will still be able to increase rents once per year, in line with market rates, by serving a Section 13 notice¹. Tenants will have the right to challenge any proposed increase through the First-tier Tribunal if they believe it exceeds market value.

What Landlords Can Do Now

Although the exact implementation date is yet to be confirmed, the Bill is likely to come into force later this year, possibly from October. Landlords should consider taking action now to prepare.

1. Review tenancy agreements to ensure they reflect the upcoming changes.
2. Check compliance with minimum housing standards and consider if any upgrades are needed.
3. Ensure awareness of the new ombudsman and database registration requirements.
4. Assess your property portfolio to identify underperforming properties or those that may require investment.
5. Discuss your longer-term strategy with a professional adviser if you are considering refinancing, selling, or restructuring your portfolio.

Supporting Clients Through Change

These reforms are significant, but not unexpected. Landlords have successfully adapted to major regulatory changes in the past decade, and many already meet or exceed the standards being proposed.

The Renters’ Rights Bill seeks to improve outcomes across the private rented sector. With timely preparation and professional support, landlords can navigate the changes with confidence.

Source:

1.  Gov.uk (2025). Guide to the Renters’ Rights Bill. Available at: https://www.gov.uk/government/publications/guide-to-the-renters-rights-bill/guide-to-the-renters-rights-bill    [Accessed 19 May 2025].
2. For more information, go to Mortgage – The Finance House

The FCA does not regulate some forms of Buy to Lets. Think carefully before securing other debts against your home/property.

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 29^th May 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.

Why You Should Speak to Your Adviser Before Going Direct to a Lender When Your Mortgage Deal Ends

When your fixed-rate mortgage deal comes to an end, it might feel easiest to stay with your current lender. After all, they know you, they already have your details, and they might even send you a letter inviting you to switch to a new rate. But should you go Direct to a Lender.

But before you sign anything, it is worth pausing to speak to your mortgage adviser. That simple conversation could save you money, give you more choice, and help you make a better-informed decision.

Here is why.

Your lender only shows you their own products

When you go direct to your lender, you are only seeing the options they choose to offer you. In contrast, your adviser can search across a wide panel of lenders to find a product that fits your circumstances. That could mean a lower interest rate, lower fees, or a more flexible deal that better suits your long-term goals.

Lenders do not always advertise their most competitive deals to existing customers, and some of the best rates on the market are only available through advisers.

You might be eligible for more than you think than if you go Direct to a Lender

Over the course of your mortgage, your circumstances may have changed. Perhaps your property has gone up in value, your income has increased, or your priorities have shifted. A mortgage adviser can review your full financial situation and check whether you qualify for better terms.

If you have built up equity, for example, you might now qualify for a lower loan-to-value band, which could open up access to more competitive rates.

There is more to a mortgage than the interest rate

While the interest rate is important, it is not the only factor. Your adviser will take the time to look at the overall cost of the deal, including any product fees, incentives such as cashback or free valuations, early repayment charges, and flexibility features like overpayments or porting.

It is not just about getting a cheap rate; it is also about finding the right solution for your circumstances.

You will receive personalised, regulated advice

A mortgage adviser is there to act in your best interests. They are regulated to ensure that the advice they give is suitable and appropriate for your needs. They will take the time to understand your goals such as keeping monthly payments low, repaying your mortgage faster, or securing flexibility for future plans.

They will also handle the paperwork and manage the process for you, saving you time and helping avoid mistakes that could lead to delays or extra costs.

It could cost you to wait

If you do nothing when your deal ends, you will automatically be moved to your lender’s standard variable rate (SVR). This rate is usually higher than the fixed or tracker rates available on the market and could add hundreds of pounds a month to your repayments.

By planning ahead and speaking to your adviser early, you can lock in a new deal before your current rate ends and avoid any unnecessary increases to your monthly payments.

Final thoughts about going Direct to a Lender

Your mortgage is likely one of your biggest financial commitments. When your current deal comes to an end, it is important to make a choice that works for your future and not just the easiest option at the time.

A short conversation with your adviser could make a real difference. Whether you want to remortgage, switch deals, or explore new opportunities, we are here to help you make the right move with confidence.

Contact us today to review your options and make sure you are not paying more than you need to.
Go to Mortgage – The Finance House
You can check us on the FCA register. Register Home Page

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 29^th May 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.

Could This 100% Mortgage Help Your Kids Buy a Home Without a Deposit?

If you have children or grandchildren stuck renting, watching house prices rise, and struggling to scrape together a deposit, there might be some long-awaited good news with 100% Mortgage.

A new No Deposit Mortgage from April Mortgages could help first-time buyers purchase their first home without needing any deposit at all.

Yes, you read that correctly. For the first time in years, eligible buyers can borrow 100 per cent of a property’s value, with no deposit required. Unlike past versions of 100 per cent mortgages, this one has been designed with long-term affordability in mind¹.

How does it work?

April Mortgages is offering fixed interest rates for either ten or fifteen years, which means no nasty surprises on your monthly payments. Even better, as you pay off your mortgage and your loan to value ratio improves, your interest rate will automatically reduce without you needing to do a thing.

You can also make unlimited overpayments whenever you like, and there are no early repayment charges if you want to repay using your own funds or move home before the end of the fixed term¹.

Who is it for?

This mortgage is aimed at people buying their first home who have found saving for a deposit an impossible task.

To be eligible, the buyer must:

• Be a UK resident aged under 70 (not older than 80 by the end of the mortgage term)
• Have a household income of at least £24,000
• Be buying a house, not a flat or a new build
• Choose a property worth over £75,000
• Pass a credit check and affordability assessment

It is available for home purchases only and must be used to buy the buyer’s main home. All applications will go through full underwriting checks to make sure repayments are affordable and sustainable¹.

Are there any risks with 100% Mortgage?

As with any mortgage, there are things to consider. A 100% mortgage can put you at greater risk of negative equity if house prices fall. This means you could end up owing more than your property is worth, which might make it harder to move or remortgage in future.

And while you do not need a deposit, there are still other costs to budget for – such as stamp duty, solicitor fees, valuation costs and moving expenses.

April Mortgages is fully regulated by the Financial Conduct Authority (FCA), and their lending decisions are based on strict rules to ensure the mortgage is suitable and affordable both now and in the long term¹.

Could this help someone you know?

If you are a parent or grandparent who has been looking for ways to help your family get a foot on the property ladder, this could be a game changer.

As always, we are here to help. If you would like to discuss this new No Deposit Mortgage or explore whether it might be the right fit for your child or loved one, just get in touch. As advisers, we have exclusive access to this mortgage and can guide you through the process step by step.

Sources:

1. April Mortgages (2025). No Deposit. Available at: https://www.aprilmortgages.co.uk/consumer/no-deposit/      [Accessed 19 May 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 29^th May 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.
For more information. go to Mortgage – The Finance House

Mortgage Market Update: Borrowing Opportunities Improve as Lenders Cut Rates and Ease Rules

Borrowing Opportunities. A shift is taking place across the mortgage market, bringing a wave of opportunity for both prospective buyers and existing homeowners. Leading lenders are responding to expectations of falling interest rates by reducing mortgage pricing and easing affordability criteria. This development could enhance borrowing potential for many households in the months ahead.

Borrowing Opportunities – Leading Lenders Reduce Mortgage Rates

Several major lenders, including Barclays, TSB, HSBC, Coventry Building Society and the Co-operative Bank, have recently announced reductions to their fixed-rate mortgage products. Barclays has been among the first FTSE 100 banks to offer two-year and five-year fixed deals starting from 3.99 per cent¹. 

HSBC has followed suit with a broad range of reductions across its residential and buy-to-let offerings, including five-year fixed rates falling below four per cent. Industry analysts suggest this trend signals increased competition in the market, with further reductions likely as other lenders seek to remain competitive¹.

According to data from Rightmove, the average two-year fixed rate has decreased by 0.42 percentage points over the past year, now sitting at 4.81 per cent. Five-year fixed rates have also seen a reduction, down 0.13 percentage points to 4.70 per cent¹.

Borrowing Opportunities –Increased Borrowing Potential

In addition to rate cuts, lending criteria are being revised to improve access to borrowing. Lloyds Banking Group, which includes Halifax, Bank of Scotland and BM Solutions, has adjusted its affordability calculations. This change could allow the average borrower to access approximately £38,000 more on their mortgage, equating to an increase of up to 13 per cent in maximum borrowing for some applicants¹.

These adjustments have primarily affected stress testing rates, which assess whether borrowers could afford repayments if interest rates were to rise. For five-year fixed rate products, the stress test threshold has been lowered, making affordability calculations more favourable for applicants.

Similar changes have been made by Santander, which recently reduced its stress test rates by up to 0.75 percentage points, making them the lowest since 2022. These updates are particularly significant for first-time buyers and home movers who previously struggled to meet stringent affordability requirements².

Borrowing Opportunities –Remortgaging Activity Increases

The Bank of England’s latest Credit Conditions Survey reports a notable rise in remortgaging activity, with homeowners reacting swiftly to falling rates. As fixed-rate deals expire and new, more competitive options become available, a surge in remortgage applications is anticipated over the coming months³.

This trend reflects a growing confidence in the mortgage market, driven in part by expectations that the Bank of England will cut the base rate later this year. Currently held at 4.5 per cent, the base rate remains below its 2023 peak of 5.25 per cent. Market consensus suggests that multiple cuts may take place in 2025, potentially improving conditions further for borrowers⁴.

Borrowing Opportunities –A More Flexible Lending Environment

The Financial Conduct Authority has also acknowledged that mortgage stress testing may have been applied too cautiously in recent years. The regulator has indicated a willingness to review current rules in order to support greater access to home ownership, while maintaining prudent lending standards.

This policy backdrop, combined with lender-driven initiatives, suggests a more flexible and borrower-friendly environment is emerging. While broader economic uncertainties remain, improved mortgage availability and more accessible rates are welcome developments for anyone looking to purchase, remortgage or move home.

What This Means for You

For buyers, the increased supply of mortgage products and eased affordability checks could significantly expand borrowing options. For existing homeowners, now may be an opportune time to review existing mortgage arrangements and consider securing a new deal.

If you would like to explore how these changes might affect your borrowing potential or discuss whether it is the right time to remortgage, please get in touch to arrange a consultation.
For more information go to Mortgage – The Finance House

References:

1. City AM (2025). HSBC, Barclays, Lloyds: Lenders bank on interest rate cut as mortgage ‘price war’ heats up. Available at: https://www.cityam.com/hsbc-barclays-lloyds-lenders-loosen-up-as-mortgage-price-war-heats-up/  [Accessed 23 Apr. 2025].
2. Santander (2025). Santander becomes first lender to reduce mortgage affordability rates to enable customers to borrow more Available at: https://www.santander.co.uk/about-santander/media-centre/press-releases/santander-becomes-first-lender-to-reduce-mortgage? [Accessed 23 Apr. 2025].
3. Bank of England (2025). Credit Conditions Survey – 2025 Q1.Available at: https://www.bankofengland.co.uk/credit-conditions-survey/2025/2025-q1       [Accessed 23 Apr. 2025].
4. Euro News. (2025). UK inflation falls more than expected boosting rate cut chances. Available at:https://www.euronews.com/business/2025/04/16/uk-inflation-falls-more-than-expected-boosting-rate-cut-chances    [Accessed 28 Apr. 2025].

All the information in this article is correct as of the publish date 1st May 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 Reduces Interest Rates to 4.50%. The Bank of England has announced that interest rates are to be reduced again, this time going down Interest Rates to 4.50%1.This is the second reduction in interest rates in recent times, following a long period of interest rate rises, where they peaked at a 16-year high of 5.25%.2What could the rate reduction announcement mean for my mortgage?If you have a fixed-rate mortgage then there won’t be any immediate changes, however reductions in the Bank of England base rate may mean that lenders start to offer more attractive deals in the coming months ahead. If you have a fixed-rate mortgage period coming to an end soon, then it’s the ideal time to get in touch to discuss your options accordingly.If you have a variable-rate mortgage, have a Bank of England tracker mortgage, or are on the Standard Variable Rate (SVR), then you may start to see changes to your monthly mortgage repayments, depending upon your lender and the deal that you have.Let us see how we can helpWe are here to provide you with the advice and guidance you need, and help with any queries you may have. There’s an overwhelming amount of information online, and some of it can be conflicting or confusing, so this is where we are here to help you.We would recommend that you contact us to let us look at your individual circumstances and provide bespoke information to allow you to make educated decisions.Contact us for a ReviewIt’s the ideal time to talk about your mortgageThe mortgage market is constantly evolving, and it’s a great time to start looking at your mortgage, whether you’re looking at moving home or have a remortgage coming up and want to know how much it could cost you.Chances are, the rates may be considerably different to your last remortgage, however these recent changes may be starting to soften the blow and you may be pleasantly surprised by the options available.It’s our mission to provide tailored mortgage advice for your exact situation, and can look across a wide range of deals not found on the High Street, so please book an appointment to see how we can help you.Please note, your home may be repossessed if you do not keep up repayments on your mortgage. Sources:Bank of England (2025) Current Bank Rate. Available at: https://www.bankofengland.co.uk/ [Accessed 27th Jan 2025]Bank of England (2025) Official Bank Rate History. Available at: https://www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp [Accessed 27th Jan 2025]All the information in this article is correct as of the publish date 6th February 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.

Property Experts Forecast 2025 to be a Buyers Market

The UK housing market is showing signs of a strong start in 2025, so looking like a Buyers Market with significant increases in new property listings and a rise in average asking prices. Estate agents Rightmove report that the average price of properties coming to market has increased by 1.7% (£5,992) this month, reaching £366,189—the largest new year price jump since 2020¹. Despite this growth, average prices remain approximately £9,000 below the peak reached in May 2024, reflecting ongoing affordability considerations for buyers¹.

Increased Property Listings

The number of new property listings has risen by 11% year-on-year since Boxing Day, providing buyers with a broader selection of homes¹. This influx has led to the highest number of properties available per estate agency branch for this time of year in a decade¹. The increased supply is intensifying competition among sellers, who are being advised to price properties realistically to attract potential buyers¹.

 Buyer Activity and Market Dynamics

Buyer interest has also surged, with a 9% increase in inquiries to estate agents and an 11% rise in agreed sales compared to the same period last year¹. This suggests that buyers are responding positively to greater property availability and expectations of improving mortgage rates². However, the market remains sensitive to external factors, such as interest rate fluctuations and impending stamp duty changes, which may influence buyer behaviour later in the year¹.

Tim Bannister, Rightmove’s Director of Property Data, highlighted that while the market is experiencing a buoyant start, sellers must remain pragmatic with pricing strategies¹. Overpricing could deter potential buyers, particularly in a market where affordability continues to be a critical concern. Bannister emphasised that realistic pricing is key to ensuring successful transactions in the current competitive landscape¹.

Conclusion, is it a Buyers Market

Early indicators for 2025 suggest a vibrant housing market driven by increased supply and active buyer participation. While more property options benefit buyers, it’s wise for sellers to adopt realistic pricing to help aid changes of a sale in such a busy marketplace. With the market poised for growth, attention to economic factors like interest rates and policy changes will be crucial for both buyers and sellers as the year progresses.

Sources

1. The Guardian (2025). UK housing market ‘starts new year with a bang’, says Rightmove. Available at: https://www.theguardian.com/business/2025/jan/20/homes-uk-housing-market-new-year-rightmove [Accessed 20 Jan 2025]
2. Rightmove (2024) Rightmove’s 2025 Housing Market Forecast. Available at: https://www.rightmove.co.uk/press-centre/rightmoves-2025-housing-market-forecast/ [Accessed 20 Jan 2025]
   
   For more information, go to Protection – The Finance House

All the information in this article is correct as of the publish date 30^th January 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.

Start the Year Right: Plan your Mortgage Now

January often feels like one of the longest months of the year. With extended gaps until payday and the financial strain left by the festive season, many find their budgets stretched to the limit. If you’re feeling the squeeze right now, take it as an opportunity to Plan your Mortgage Now.

Post-Christmas Financial Vulnerability

The period after Christmas can leave many of us in a precarious financial position. According to the Legal & General Deadline to Breadline report, the average UK household is just 19 days from the breadline if their income were to stop suddenly¹. This reality highlights the importance of careful financial planning and having plans in place should the worst happen. If you find yourself dipping into savings or relying on credit to cover essential expenses, now is the perfect time to take action to protect what matters most to you and your family.

Planning Ahead for the New Financial Year

The start of a new year is the perfect time to Plan your Mortgage Now & protection arrangements. We’re here to support you with mortgage and protection reviews to ensure your finances are set up to match your current needs and future goals.

By reviewing your mortgage, we can help you:

• Ensure you’re on the most suitable rate for your situation.
• Avoid slipping onto expensive Standard Variable Rates (SVRs)².
• Plan for any upcoming changes, such as job transitions or family growth.

We also recommend taking the time to review your protection arrangements. This will help ensure your income, health, and lifestyle are adequately safeguarded. Regular reviews of life cover, critical illness cover, and income protection ensure you and your loved ones remain protected in the face of life’s uncertainties.

Why Plan your Mortgage Now plus Protection Review

Life evolves, and so do your financial needs. That’s why it’s essential to regularly review your mortgage and protection arrangements. Changes in income, marital status, or family size can mean your current setup no longer aligns with your requirements, potentially leaving you overpaying or under-protected.

From a mortgage perspective, regular reviews can help you identify opportunities to save money by accessing better rates or switching to products that better support your financial goals. If your circumstances are changing, or you’re approaching the end of a fixed-term period, we can assess your current situation and advise on tailored mortgage options that may suit your needs better than your existing deal.

We have access to a wide range of remortgage and product transfer options, including many exclusive deals not available on the High Street. While your existing lender may contact you with their latest offers, we recommend booking an appointment with us. We’ll help ensure you’re not just choosing the most convenient option, but the one that truly aligns with your goals and where you want to be in the future.

Protection Review: How Long Could You Last Without an Income?

We’re dedicated to keeping you protected, because life has a way of presenting unexpected challenges when you least expect them.

The Legal & General Deadline to Breadline Report 2022 found that 37% of UK households have less than £1,000 in savings, and 16% have no savings at all¹. This underscores the importance of having a financial safety net. If you’re one of the 42% of employed adults who believe they could only survive a month or less on savings¹, it’s time to think about income protection.

Income protection policies provide a safety net by replacing a portion of your income if you’re unable to work due to illness or injury³. Critical illness cover and life insurance also ensure your loved ones are cared for in the event of the unexpected⁴. By reviewing your protection arrangements, we can help you close any gaps in your financial safety net and reduce the risk of financial hardship.

Book Your Mortgage & Protection Appointment Now

The start of the year is the perfect time to take charge of your mortgage and protection arrangements. Reach out to us for tailored advice, designed to address any gaps in your protection and ensure you’re on a mortgage deal that fits your unique circumstances. Together, we can help you build a secure and stable future for you and your family. Plan your Mortgage Now

Sources

1. Legal & General (2022). Deadline to Breadline Report. Available at: https://www.legalandgeneral.com/landg-assets/adviser/files/protection/sales-aid/deadline-to-breadline-report-2022.pdf [Accessed 21 Jan 2025]
2. Money Advice Service (2025). Understanding Mortgages and Interest Rates. Available at: https://www.moneyhelper.org.uk/en/homes/buying-a-home/mortgage-interest-rate-options [Accessed 21 Jan 2025]
3. Moneyhelper (2025) What is income protection insurance?. Available at:  https://www.moneyhelper.org.uk/en/everyday-money/insurance/what-is-income-protection-insurance [Accessed 21 Jan 2025]
4. Moneyhelper (2025) What is critical illness cover?. Available at: https://www.moneyhelper.org.uk/en/everyday-money/insurance/what-is-critical-illness-cover [Accessed 21 Jan 2025]
   
   For more information go to Mortgage – The Finance House

All the information in this article is correct as of the publish date 30^th January 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.

Buying a Home in a Flood Risk Area: What You Need to Know

Purchasing a home is one of the most significant decisions you’ll ever make, so it’s crucial to consider all potential risks before committing. This winter, flooding has once again made the headlines, affecting many homes across the UK, and highlighting the importance of factoring in Flood Risk Area when searching for your next property.

For some UK buyers, this means carefully evaluating the possibility of purchasing a home in a flood-prone area. With extreme weather events becoming increasingly common, understanding and assessing flood risks is vital to safeguarding your investment—and your peace of mind.

What is a Flood Risk Area?

A flood risk area refers to a location that is more susceptible to flooding, whether from rivers, the sea, or surface water. According to the Environment Agency, over 5.2 million properties in England are at risk of flooding¹. In Scotland, Wales, and Northern Ireland, similar assessments are made by SEPA, NRW, and DfI Rivers, respectively. Flood risk isn’t confined to areas near rivers or coastlines; heavy rainfall and inadequate drainage systems can also pose a threat in urban areas.

Should You Buy a Property in a Flood Zone?

Buying a home in a flood zone isn’t necessarily a dealbreaker, but it does require very careful consideration. Properties in these areas can sometimes be more affordable, but there are potential downsides. You may face challenges securing insurance, higher premiums, or even difficulty selling the property in the future. That said, properties with robust flood defences or lower-risk classifications may offer greater peace of mind here.

Assessing the Flood Risk

Before you fall in love with a property, take the time to investigate its flood risk. The Environment Agency provides a free online flood risk assessment tool for properties in England, while devolved governments offer similar services in other parts of the UK.

• England – https://flood-map-for-planning.service.gov.uk/
• Wales – https://naturalresources.wales/flooding/check-your-flood-risk-by-postcode
• Scotland – https://map.sepa.org.uk/floodmaps
• Northern Ireland – https://www.nidirect.gov.uk/articles/check-risk-flooding-your-area

These tools allow you to check the likelihood of flooding from various sources and provide detailed maps of flood zones. Additionally, it’s important to ask the seller for any information about the property’s flood history or damage caused by previous flooding.

The Environment Agency has created a series of Flood Zone Tiers to help assess the risk²:

• High: These are the areas with the most severe chance of flooding, and have over a 3.3% chance of it flooding each year. This also takes flood defences into account.
• Medium: These areas have a 1-3.3% chance of flooding each year, again taking into account the effects of defences.
• Low: Low risk are areas of the UK which have a 0.1% to 1% chance of yearly flooding.
• Very Low: This risk level is given to those UK areas with less than a 0.1% chance of flooding each year.

Additionally, it is always worth noting the type of flooding, whether it be coastal, rivers, surface water, sewers etc.

Flood Insurance Considerations

Insuring a property in a flood zone can be more expensive and challenging. The good news is that the Flood Re³ scheme, introduced by the government and insurance industry, makes it easier and more affordable to insure properties built before 2009 against flood damage. However, homes constructed after 2009 are not eligible for the scheme, so it’s vital to explore your options and get quotes from multiple insurers.

Protecting Your Home

If you decide to buy a property in a flood-prone area, it’s essential to take proactive steps to mitigate risk. Installing flood defences such as barriers, airbrick covers, and non-return valves on drains can significantly reduce the impact of flooding. Raising electrical sockets and keeping valuable items on higher floors are also practical measures. Some homeowners may even qualify for grants or local authority assistance to install flood prevention measures.

Seeking Expert Advice

When purchasing a property in a flood zone, enlisting the help of experts can make a big difference. A qualified surveyor can assess the risk and provide recommendations for flood protection. Solicitors experienced in property transactions should also be consulted to review flood-related issues during the conveyancing process. They can confirm whether the property is located in a flood risk area and outline your responsibilities as a homeowner.

Weighing the Pros and Cons

Buying a home in a flood risk area doesn’t have to be a source of constant worry. Many UK homes in flood zones remain safe and dry thanks to effective flood management strategies. However, it’s crucial to weigh the potential risks against the benefits and ensure you’re prepared for any eventuality. By doing your research, taking precautions, and consulting professionals, you can make an informed decision and enjoy your new home with confidence.

Sources

1. Environment Agency (2025) Flooding in England: A National Assessment of Flood Risk. Available at: https://assets.publishing.service.gov.uk/media/5a7ba398ed915d4147621ad6/geho0609bqds-e-e.pdf [Accessed 15th Jan 2025]
2. Property Rescue (2025) Selling A House In A Flood Zone. Available at: https://propertyrescue.co.uk/useful-guides-articles/selling-a-house-in-a-flood-zone/ [Accessed 15^th January 2025]
3. Flood Re (2025) What is Flood Re?. Available at: https://www.floodre.co.uk/ [Accessed 15^th Jan 2025]
   
   For more information go to https://thefinancehouse.co.uk/mortgages-independent-free-mortgage-broker/

All the information in this article is correct as of the publish date 30^th January 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.

Budget-Friendly Christmas: Money-Saving Tips for a Special Season

Christmas is a time for celebration, family, and creating special memories, but it doesn’t have to come with a hefty price tag so go for a Budget-Friendly Christmas. For many, budgeting is top of mind, and there are countless ways to make the season festive without overspending. Here’s how to enjoy a wonderful Christmas while keeping your finances in check.

1. Set a Realistic Budget for Gifts and Stick to It

Establishing a gift budget can save a lot of stress down the line for a Budget-Friendly Christmas. Think about who you really want to buy for and set an amount for each person. You don’t need to go big—some of the most cherished gifts are those with thought behind them rather than a high price tag. Also, consider “Secret Santa” with family or friends, where everyone buys for one person instead of all, keeping gift-giving affordable and fun.

Tip: Use budgeting apps or even simple lists on your phone to keep track of spending on gifts to stay on target.

2. Get Crafty with Homemade Gifts

Handmade gifts can be more meaningful than anything bought, and they’re often easier on your wallet. Ideas include homemade jams, cookies, bath salts, candles, or personalised Christmas ornaments. You can even make DIY gift baskets with small, thoughtful items, like hot chocolate sachets, marshmallows, and a cozy pair of socks, for a heartfelt gift that doesn’t cost the earth.

Tip: Check out online tutorials and print customised labels for an extra touch of charm.

3. Get the Guests Involved with Christmas Lunch

Hosting the entire Christmas meal for the extended family can be costly, so consider making it a “potluck” event where each guest brings a dish. Not only will this reduce your expenses, but it also allows everyone to contribute to the day. If you’re hosting, you might take care of the main dish, while family members bring starters, side dishes, and desserts.

Tip: Coordinate dishes ahead of time so you don’t end up with duplicates and can ensure a balanced, varied menu.

4. Decorate with Nature

Christmas decorations can be pricey, but nature offers many beautiful (and free!) alternatives. Gather pinecones, fallen or broken holly branches and other greenery from local parks or your garden. Arrange these items in vases, hang them as garlands, or use them as rustic place settings. If you already have decorations, consider reusing and mixing up the placement for a fresh look.

Tip: A little DIY goes a long way—try making dried orange slices or cinnamon stick bundles to add a festive scent and look to your decor.

5. Plan Affordable Family Activities

Spending time together doesn’t have to involve expensive outings. Some free or low-cost Christmas activities include:

• Christmas movie marathon: Pull out old favourites or explore new ones at home.
• Neighbourhood Christmas light walk: Take a stroll around your area to enjoy festive lights and decorations.
• Christmas baking: Gather the family to bake gingerbread men, mince pies, or other seasonal treats.
• DIY Christmas cards or decorations: Especially fun for families with young children, making cards or ornaments is a creative and inexpensive way to get into the holiday spirit.

6. Embrace Thrift and Second-Hand Shopping

If you’re looking for unique decorations or gifts, consider second-hand stores. You can often find Christmas decorations or gifts at a fraction of the cost in charity shops or online marketplaces like eBay, Facebook Marketplace, or local swap groups. This can also be a sustainable way to celebrate, reusing items that would otherwise go to waste.

Tip: Look for items you can upcycle, such as adding a fresh coat of paint to a frame or using fabric from old linens to make festive table runners.

7. Look for Free Festive Events

Throughout the UK, there are numerous free events during the Christmas season, from Christmas markets to light displays, concerts, and carol singing. Many of these events are perfect for families and can help build lasting holiday memories without any expense.

Tip: Check local community boards, libraries, or council websites to find free events in your area.

8. Consider a Christmas Savings Jar

To spread out the cost of Christmas, some families start saving in a Christmas jar or account. Set aside a small amount each week starting early in the year to relieve the financial pressure when December arrives. It’s a simple yet effective way to ensure that you’ll have a little extra set aside for next Christmas.

Tip: Many UK banks and building societies offer Christmas savings accounts to help keep these funds separate from regular savings.

9. Shop Smart and Early for Deals and a Budget-Friendly Christmas

Buying early often gives you access to better deals and can help spread out the cost of Christmas. Many shops have sales in the autumn, and major events like Black Friday in November offer opportunities to buy gifts or decorations at reduced prices. Planning ahead also gives you more time to compare prices and make smarter purchases.

Tip: Sign up for retailer newsletters and watch for sales at your favourite shops to stay on top of the best deals.

10. Create Your Own Christmas Traditions

Some of the best holiday memories come from traditions that don’t involve spending much money. Starting a Christmas Eve tradition, such as reading a story by the fire, having a family game night, or making hot chocolate together, can be just as special as more costly festivities. Little rituals add to the magic of Christmas and bring everyone together.

Tip: Think about what matters most to your family and create traditions that reflect those values and interests and a Budget-Friendly Christmas.

In Summary

Celebrating Budget-Friendly Christmas without overspending doesn’t mean cutting back on joy or fun. By focusing on thoughtful gifts, home-crafted decorations, and meaningful activities, you can create a memorable and magical holiday season. With these tips, you’ll not only keep costs down but may also discover new traditions and ways to celebrate that become lasting parts of your Christmas experience.

All the information in this article is correct as of the publish date 28^th November 2024. 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.

For more information go to Brighton Mortgage Broker – The Finance House
For the FCA register go to Register Home Page

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.