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.

Common Bank Statement Mistakes That Could Delay Your Mortgage

Applying for a mortgage is exciting, but it often involves more scrutiny than people expect. One of the first things a lender looks at is your bank statements and Bank Statement Mistakes. They give a real-time picture of how your money is managed, whether your income is steady, and whether your spending habits suggest you can comfortably take on a mortgage.

For many buyers, this can feel like an extra layer of pressure. The good news is that most issues seen on bank statements are entirely avoidable once you know what lenders are watching for.

Here are the most common red flags, what they mean, and how to prepare.

Frequent use of overdrafts Bank Statement Mistakes

Occasional dips into an arranged overdraft rarely cause problems, particularly if your overall finances look stable. The concern arises when there is a clear pattern of relying on overdrafts to get through the month. If this happens regularly, lenders may question whether the mortgage payments will be manageable.

Gambling transactions

Even small, regular payments to online betting companies are closely reviewed. Lenders are not judging your lifestyle, but they do have to consider financial stability and self-control. Regular gambling activity can be seen as a higher risk when considering long-term borrowing.

Payday loans

Repayments to short-term lenders usually signal previous financial strain. These types of loans can make mainstream borrowing more challenging, as they could suggest difficulties meeting regular commitments in the past.

Large or unexplained transfers

Significant sums moving in or out of your account without a clear reason can raise questions about undisclosed debts, informal loans, or financial arrangements that haven’t been declared. Lenders need to understand your full financial position to assess affordability.

Irregular or inconsistent income

For people with variable income, such as those on commission or freelance work, lenders look for predictability. If income fluctuates widely without a clear pattern, it may prompt further questions. Supporting documents, such as invoices or payslips, can help provide reassurance.

Missed payments Bank Statement Mistakes

Late payments for small items like subscriptions may seem trivial, but they can indicate struggles with day-to-day money management. A single slip is unlikely to cause an issue, but repeated missed payments can weaken a lender’s confidence.

The bigger picture

It is important to remember that no single entry on a statement is judged in isolation. Lenders look at overall stability, consistency, and whether your outgoings appear well managed. Occasional oddities are not unusual. What matters is the general pattern.

How to prepare your statements

You cannot change the past, but you can take sensible steps to present your finances clearly and avoid unnecessary delays. These include:

• Ensuring all bills are paid on time.
• Keeping a buffer in your account where possible.
• Avoiding new borrowing in the months before applying.
• Being ready to explain any irregular transactions.

If you know your income varies from month to month, preparing evidence upfront can make the process smoother.

Why this matters

For many first-time buyers and home movers, the mortgage application process can feel daunting. Bank statements are designed to help lenders check that repayments will be sustainable, not to catch people out. Understanding what lenders look for can make the process far less overwhelming and help your application progress more smoothly.

For more information go to Mortgage – The Finance House

For information on The Finance House go to 503683 – Search Firms – FCA Register

‌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 27^th November 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.

How New Energy Efficiency Rules Could Affect UK Landlords and Tenants

The Government is preparing major changes to the energy efficiency requirements for rental properties across England and Wales with new Energy Efficiency Rules. These proposals form part of a wider push to make homes warmer, greener, and more affordable to run.

Although the plans are still subject to consultation, landlords and tenants may wish to be aware of what is being considered and how it could shape the rental market over the coming years.

What the Government is proposing with new Energy Efficiency Rules

The central proposal is to raise the minimum Energy Performance Certificate (EPC) rating for privately rented homes. Under the current rules, properties must achieve at least an E rating. The Government is exploring an increase to a stricter C rating for new tenancies from 2028, with all existing tenancies to be included by 2030¹.

This represents a significant shift and could mean substantial upgrades for many rental homes, particularly older properties. The aim is to reduce household energy use, improve warmth and comfort, and support the UK’s long-term environmental targets¹.

A new way of assessing energy performance

Alongside the higher targets, the EPC system is being reviewed. The existing methodology is based on estimated running costs, which can disadvantage homes that use electricity for heating—even when using efficient modern heat pump systems.

A revised system and new Energy Efficiency Rules is expected to look more closely at actual building performance. This may include:

• heating systems and insulation
• heat loss indicators, window performance and draught-proofing
• the impact of new technologies, such as smart meters and home energy monitoring

The intention is to create a more accurate picture of a property’s efficiency.

2030: A challenging target for landlords

If the proposals go ahead, the scale of change required is considerable. Industry analysis suggests a large proportion of rental homes would need improvement works to reach a C rating.

A range of upgrades may be necessary. These could include improving insulation, replacing older windows, or upgrading heating systems. Landlord surveys indicate that many expect to face costs ranging from a few thousand pounds to much more for extensive work².

While the initial investment may be significant, energy-efficient properties tend to have lower running costs and may be more attractive to tenants.

Potential benefits for tenants

Tenants could see longer-term advantages if these rules are introduced. Energy-efficient homes typically benefit from²:

• lower heating bills
• increased comfort during colder months
• fewer issues with damp and condensation

Industry research has suggested that the difference between a lower-rated and higher-rated rental home could amount to hundreds of pounds per year in energy savings.

As energy bills remain a concern for many households, these improvements may offer valuable relief.

What happens next?

The Government’s consultation closed earlier this year. Final decisions, including any spending caps and timelines for implementation, are expected in due course¹.

Once confirmed, landlords will have clarity on what is required and when upgrades must be in place. Many may choose to review their properties in advance so they can plan any necessary work in an organised and cost-effective way.

References:

1. GOV.UK  (2025). Improving the energy performance of privately rented homes: 2025 update. Available at: https://www.gov.uk/government/consultations/improving-the-energy-performance-of-privately-rented-homes-2025-update   [Accessed 25 Nov. 2025].
2. NewsAgent (2025). New EPC Regulations 2025: How to Save your Landlords Thousands. Available at: https://blog.goodlord.co/new-epc-regulations      [Accessed 25 Nov. 2025].
3. For more information go to Mortgage – 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 27^th November 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.

Important Warning About Mortgage “Quick Fixes” Circulating Online This Christmas

As the Christmas period approaches and household budgets come under extra pressure, many homeowners start searching for ways to manage their outgoings with Mortgage “Quick Fixes”. Recently, however, the Financial Conduct Authority (FCA) has issued a firm warning about misleading information online that could leave borrowers worse off¹.

A number of websites and social media posts are promoting so-called “promissory notes”, claiming they allow borrowers to avoid making their mortgage payments with Mortgage “Quick Fixes”. These claims may appear convincing at first glance, but they are incorrect and can lead to serious financial consequences¹.

What is a promissory note, and why the FCA is warning against Mortgage “Quick Fixes”?

The documents being sold typically claim that¹:

• a “trust” or third party will take responsibility for your mortgage
• or that the note itself settles the mortgage in full
• or that lenders must legally accept it as payment

The FCA has confirmed that these statements are false. A promissory note is not a recognised method of paying a mortgage, and sending one to a lender does not remove the requirement to make your normal payments¹.

Some people have paid significant sums for these documents, believing they would help, only to find that they hold no value.

Why relying on these claims can cause real harm

Using a promissory note does not pause or settle a mortgage. This means borrowers may unknowingly fall into arrears if they stop making their usual payments. This could¹:

• impact their credit file
• increase the total amount they owe
• reduce future mortgage options
• in the worst cases, place their home at risk

These schemes are often targeted at homeowners who are already under financial pressure, which can make the situation even more difficult.

What you can do if you are concerned about your mortgage payments

If you are worried about upcoming payments, please do not rely on information from unregulated online sources. There are legitimate steps you can take.

1. Contact your lender as soon as possible

Lenders must treat customers in financial difficulty in a fair and considerate way. Depending on the circumstances, they may explore temporary or longer-term options with you. These vary case by case and are not guaranteed.

2. Speak to your mortgage broker

If you would like help understanding the information provided by your lender or would like to discuss your mortgage more generally. While we cannot make decisions for your lender, we can help you understand what certain options may mean for you.

3. Consider free, confidential debt support

If you feel under significant financial strain, reputable organisations can offer guidance on budgeting and debt management. These include:

• Citizens Advice²
• StepChange Debt Charity³
• National Debtline⁴
• MoneyHelper⁵

These services are independent and may help you review your wider financial position.

A final reminder for homeowners

During financial stress, it can be tempting to believe in a simple solution. However, anything claiming to cancel a mortgage instantly or remove the need to make payments should be treated with caution. The FCA has clearly warned that promissory notes do not work and may cause real financial harm¹.

If you have any questions about your mortgage or want help understanding the process, we are here to support you.

References:

1. FCA. (2025). Struggling with your mortgage? Avoid risky offers. Available at: https://www.fca.org.uk/consumers/struggling-mortgage-avoid-risky-offers     [Accessed 25 Nov. 2025].
2. Citizens Advice. (2025). Citizens Advice. Available at: https://www.citizensadvice.org.uk/    [Accessed 25 Nov. 2025].
3. ‌ Stepchange.org. (2025). StepChange Debt Charity. Free Expert Debt Help & Advice. Available at: https://www.stepchange.org/   [Accessed 25 Nov. 2025].
4. Nationaldebtline.org. (2023). Free Debt Advice and Support | National Debtline. Available at: https://nationaldebtline.org/ [Accessed 25 Nov. 2025].
5. MoneyHelper (2025). Free and impartial help with money, backed by the government | Available at: https://www.moneyhelper.org.uk/en [Accessed 25 Nov. 2025].
6. For more information go to Mortgage – 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 27^th November 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 2025

Chancellor Rachel Reeves has delivered her Autumn Budget 2025, the first major fiscal statement of the year for this Labour government. We wanted to provide you with an overview of the most notable announcements made in yesterday’s speech.

Personal taxation Budget 2025

• National Insurance (NI) and income tax thresholds will remain frozen for an additional three years beyond 2028, gradually pushing more people into higher tax brackets.
• The annual cash limit for under-65s using cash ISAs will be restricted to £12,000. The remainder of the £20,000 allowance must be used for investment products.
• Basic and higher income tax rates applied to property, savings and dividend income will rise by two percentage points.

Wages, benefits and pensions Budget 2025

• From April, the cap preventing households on Universal Credit or Child Tax Credit from receiving support for a third or subsequent child will be removed.
• The statutory minimum wage for workers aged 21 and over will rise by 4.1%, from £12.21 to £12.71 an hour.
• The minimum wage for those aged 18 to 20 will increase by 8.5%, from £10 to £10.85 an hour, as part of a move toward a single adult rate.
• The basic state pension and the newer state pension will increase by 4.8% in April, exceeding current inflation, in line with the triple-lock commitment.
• From 2029, employees using salary-sacrifice pension schemes will start paying NI on contributions above £2,000 a year.
• The Help to Save scheme, which offers bonuses to eligible Universal Credit claimants, will be extended and expanded beyond 2027.

Housing and property Budget 2025

• Homes in England valued at more than £2 million will be subject to a council tax surcharge of between £2,500 and £7,500, linked to a revaluation of properties in bands F, G and H.

Transport

• Fuel duty will remain frozen for five months after April, then increase gradually from September 2026.
• A mileage-based tax for electric and plug-in hybrid vehicles will be introduced from 2028.
• Regulated rail fares in England will be frozen next year, marking the first full freeze since 1996 (although some previous rises were below inflation).
• Premium car models will no longer be available through the Motability scheme, which provides cheaper vehicle leases to eligible disability-benefit recipients.

Drinking and smoking

• From 2028, the tax on sugary drinks will be extended to include pre-packaged milkshakes and lattes, reversing the exemption put in place when the levy was first introduced in 2018.

UK growth, inflation and public finances

• The Office for Budget Responsibility expects the UK economy to grow by 1.5% this year, up from its 1% forecast in March.
• Inflation is forecast to average 3.5% this year, fall to 2.5% next year and return to the 2% target in 2027.

Other measures

• English regional mayors will gain the power to introduce a tax on overnight accommodation in hotels and holiday lets, similar to existing or proposed measures in Scotland and Wales.
• The NHS prescription charge in England will remain at £9.90 for another year; prescriptions continue to be free in Scotland, Wales and Northern Ireland.

Source

BBC (2025). Budget 2025 summary: Key points from Rachel Reeves’s speech. BBC News. Available at: https://www.bbc.co.uk/news/articles/cj4w44w42j5o            [Accessed 26 Nov. 2025].

For more information go to Mortgage – The Finance House

‌All the information in this article is correct as of the publish date 27^st November 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 First-Time Buyers Need to Know This Summer And How to Be Prepared

Summer 2025 presents a rare opportunity for first-time buyers. Lenders are reintroducing 100 % mortgages, increasing income multiples, and easing affordability tests. While this may help those struggling to save for a deposit, thorough preparation is essential. If you are considering buying your first home this summer, here is what to know and how to get ready.

Understand the New Mortgage Landscape

Several lenders, including April Mortgages and Gable Mortgages, have launched 100 %, meaning buyers can borrow the full value of a property without any deposit if they meet strict criteria¹.

Gable Mortgages offers a five year fixed rate of approximately 5.95%  for standard properties and 5.65% for newbuild homes¹. Other lenders, including Skipton, Barclays and Halifax, are launching or reintroducing similar no deposit products.

Get Your Finances in Order

Before applying, especially for First-Time Buyers, you need to present a strong financial profile. Lenders will assess the following carefully:

1. Your credit report, ensuring it contains no errors.
2. Your existing debts, including credit cards and loans.
3. Clear and documented bank transaction history, showing consistent income and no unexplained withdrawals or gambling transactions.
4. Your rental payment history, as some lenders use this as proof of affordability.

Your mortgage adviser can guide you in cleaning up your financial records, advising on what is acceptable and what could harm your application.

Secure a Mortgage in Principle

A mortgage in principle is a preliminary agreement from a lender based on your income and credit profile. It provides clarity on how much you might be able to borrow and shows estate agents and vendors that you are a serious buyer. Crucially, a mortgage in principle arranged by your adviser will not affect your credit rating.

Consider the Total Costs

Buying your first home involves more costs than just the purchase price. You should budget for:

• Solicitor and conveyancing fees
• Valuation and survey costs
• Possible mortgage arrangement fees (some lenders allow these to be added to the loan)
• Stamp duty, though many firsttime buyers pay little or none 
• Home insurance and life or income protection, which your adviser can help to include in a review

Your mortgage adviser can help plan these costs to avoid financial surprises later on.

Understand the Risks

Zero deposit mortgages come with higher interest rates and a greater risk of negative equity should house prices fall. Ask your adviser to stress test your budget against repayment rates increasing by 1% or 2%. This helps ensure you can comfortably meet repayments, even if economic conditions change. Vital for First-Time Buyers.

Speak to Your Mortgage Adviser Early

Preparation is key. Your mortgage adviser can:

• Help you understand which nodeposit and low deposit options you qualify for
• Run credit and affordability health checks
• Explain the implications of higher interest and monthly costs
• Advise on protection policies to safeguard your financial commitments
• Keep track of repayment buffers, interest rises and building equity

With 100% mortgages and flexible lending returning this summer, the time to act is now. Speaking to a mortgage adviser if you are First-Time Buyers early will ensure you approach the process with clarity and confidence.

Sources:

1. Mortgage Solutions (2025). Gable Mortgages enters market with 100% LTVs. Available at: https://www.mortgagesolutions.co.uk/news/2025/05/20/gable-mortgages-enters-market-with-100-ltvs/ [Accessed 24 Jun. 2025]. 
2. For more information go to Mortgage – 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 3^rd 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.

Home Insurance and Emergency Cover: Are You Protected for Summer Risks?

Summer should be a season of rest, sunshine and barbecues rather than worry about your home. Yet the warm months can bring specific risks that many homeowners overlook. Leaving windows open, hosting garden parties, holiday travel and the strain of burst pipes from evening temperature drops all bring hazards. Now is the time to check that your home insurance and emergency cover are fit for purpose.

Summer Risk Checklist

It is important to consider the main summer threats your home might face and whether your policy provides adequate protection:

Accidental damage
This includes mishaps like breaking a window or damaging internal walls during DIY. Most standard policies exclude this unless the option is added separately¹.

Fire
BBQs, patio heaters and outdoor fires may seem harmless but pose serious risks. Check that your policy covers fire damage from such activities, especially close to the house.

Theft
Gardening tools, outdoor furniture or bicycles can be attractive targets when left outside, especially when homes are unoccupied on holidays.

Water leaks or burst pipes
Summer showers or heater malfunctions can cause sudden water damage. Most buildings policies include sudden leaks but may not cover the cost of locating the leak unless that option is added².

Storm or weather damage
Extreme weather and storms remain a threat even in summer. Structural damage from fallen branches or flooding is normally covered, but you should confirm the level of excess and limits of your policy.

Policy Add-Ons to Consider

Many homeowners are unaware of additional options that could prove vital:

• Garden theft cover
  Standard contents policies may exclude items kept outside, yet these can be stolen. 
• Home emergency cover
  This protects against urgent issues such as burst pipes, boiler breakdowns, electrical faults or roof damage. It typically includes callout fees, labour costs and basic parts with a capped limit per claim³ .
  A recent review shows that adding emergency cover may cost just about £40 to £50 annually, yet it can save hundreds if a tradesperson is needed out of hours⁴.

Why You Should Review Annually

An annual checkin on your buildings and contents cover is advisable, particularly ahead of the summer season:

• In 2024, The average UK home insurance premium was £395 per year, an alltime high due to the rise in weather damage claims⁵.
• Claims for escaped water account for about 29 per cent of all claims, making sure you are adequately covered is incredibly important⁶.
• Some policies may include emergency cover automatically but place caps on callout costs or number of claims. It is best practice to check both your insurer’s terms and your policy schedule regularly.

How Your Mortgage Adviser Can Help

We can help you review your protection alongside your mortgage to ensure everything is in place. This can save you from unwelcome surprises and allow you to act swiftly if the unexpected happens. When you discuss the summer risks and your cover, we can:

• Check whether your mortgage and insurance policies are consistent
• Confirm that substantial home improvements or contents changes are covered
• Help you decide if you should add emergency cover or accidental damage protection
• Advise on whether your insurance excess and caps are appropriate for your home and budget

Final Word

Summer should be about enjoyment, not worry. Take a few moments during June or July to tick off your Home Insurance protection checklist. Do you have accidental damage cover, burglary protection, water leak cover, storm damage safeguard and emergency callout insurance? And are your home insurer and mortgage adviser both fully aware of what you need? If you are unsure or would like reassurance, speak to your mortgage adviser today. Ensuring your protection is aligned with your mortgage can give you peace of mind and keep both your home and your finances secure.

Sources:

1. Directline.com. (2020). Accidental Damage Cover: What’s Included? [online] Available at: https://www.directline.com/home-cover/magazine/accidental-damage [Accessed 25 Jun. 2025].
2. 0800homefix.  (2024). 0800homefix.. Available at: https://www.0800homefix.com/plumbing/does-building-insurance-cover-leaks-navigating-policy-details-for-water-damage-claims/ [Accessed 25 Jun. 2025].
3. Gocompare.com. (2024). Plumbing and Drainage Insurance Cover | GoCompare. Available at: https://www.gocompare.com/home-insurance/home-emergency-cover/plumbing-and-drainage/ [Accessed 24 Jun. 2025].
4. The Sun (2024). Is home emergency cover worth it? We explain whether insurance is an alternative…  Available at: https://www.thesun.co.uk/money/30062726/home-emergency-cover-insurance-worthwhile/ [Accessed 24 Jun. 2025].
5. Abi.org.uk. (2024). More action needed to protect properties as adverse weather takes record toll on insurance claims in 2024  Available at: https://www.abi.org.uk/news/news-articles/2025/2/more-action-needed-to-protect-properties-as-adverse-weather-takes-record-toll-on-insurance-claims-in-2024/ [Accessed 24 Jun. 2025]. 
6. MorganClark (2020). Home insurance claim statistics 2021. Available at: https://www.morganclark.co.uk/about-us/blog/uk-home-insurance-claim-statistics/ [Accessed 24 Jun. 2025].
7. For more infomation, go to Protection – The Finance House

All the information in this article is correct as of the publish date 3^rd 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.