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New data indicates that first-time buyers (FTBs) are taking out longer mortgages to help them move straight into their ‘forever home’. In August, a third (33.5%) of FTBs bought a semi-detached property, up 1.7% when compared with the same month in 2024. Meanwhile, only 19% purchased a flat, representing a 2.7% annual decline. The most popular property type among new homeowners was three-bedroom properties, which accounted for 46% of all FTB purchases in August. Looking for th

Research has found that many Brits would need to sell their family home if their spouse died. The findings showed that one in three (30%) UK adults would not be able to afford to stay living in their home if their partner died unexpectedly. Meanwhile, 35% would need to tap into their savings to make ends meet, and 18% would have to take on extra work. The importance of protecting your mortgage The survey found that keeping up with mortgage repayments was the biggest financial

Data shows that the number of people buying a home with a Lifetime ISA (known as LISA) increased in the 2024/25 tax year. According to the statistics, 82,750 account holders withdrew money from their LISA to buy their first home, which is about 30,500 more than in the previous tax year. Also, the average withdrawal for a property purchase increased by around £857 to £15,782 in 2024/25. The increase is likely due to FTBs rushing to complete their transaction before the stamp

Data from the Office of National Statistics shows that the average monthly mortgage repayment has surpassed £1,000 for the first time on record. In August, the typical monthly payment reached £1,002.27, indicating that, despite some cuts to Bank Rate over the last year, homeowners are still facing affordability challenges due to higher inflation. Less than a year ago, average repayments were below £950 and, in 2020, homeowners were paying an average of £680 per month. This sh

Millions of UK homeowners are choosing to renovate their existing home instead of moving. In England and Wales, about 1.7 million homes (one in 15 properties) have undergone significant renovation work. These homes are marked with ‘official improvement indicators’, showing that they have had major structural changes, such as an extension or loft conversion. Legally, Council Tax cannot be increased on homes with improvement indicators until the property is sold or there is a g

If you find it difficult to understand leasehold and freehold, you’re not alone. Research has found that leasehold is the UK’s most confusing property term, with the term generating over 160,000 Google searches in the last year. Freehold was second on the list, accounting for 114,000 searches. Most flats are sold as a leasehold, meaning that you own the property for a fixed period, but not the land it sits on. The lease will have a fixed term, usually between 90 and 999 years

Life cover is designed to provide loved ones with essential financial protection when it is needed most. Life cover is designed to provide loved ones with essential financial protection when it is needed most. But it’s not just a one-off decision - it’s important to review and update your policy regularly, especially after experiencing any key life events that may change your circumstances. Buying a home In a recent survey, 21% of UK life insurance policyholders said that the

How is the housing market faring so far in 2025? House prices update House price growth slowed to 2.1% in June, down 0.8% month-on-month. Performance varies significantly depending on the region, with Northern Ireland seeing the strongest growth of 9.7%. East Anglia was the weakest area, where house prices only increased by 1.1% annually. House prices are increasing at the fastest rate in areas with the most affordable properties. In regions where the average home is below £2

A survey of homeowners has highlighted the savvy behaviours of today’s first-time buyers (FTBs). The report found that over half of FTBs are opting to buy a studio flat or a home with one or two bedrooms. Also, 67% said they purchased a property in an area they were unfamiliar with due to affordability challenges and a lack of suitable properties. But one in four new homeowners are moving on after an average of four and a half years, with 37% of respondents saying this was du

Data has found that most consumers prefer to seek professional advice before purchasing an insurance product. Nearly two-thirds (64%) of respondents said they would feel most comfortable taking out protection after consulting an adviser. When researching products, most people (59%) would use comparison sites, while 45% would visit the individual sites of insurance companies. The younger generations Interestingly, 25 to 34-year-olds were most likely to seek advice from an advi

In July, the Labour government’s permanent Mortgage Guarantee Scheme became available, after the previous iteration supported over 56,000 mortgage completions. The old scheme, which ran from April 2021 to March 2025, was launched by Boris Johnson’s Conservative government. It helped 56,389 people to access mortgages with smaller deposits, with 3,180 completions in Q1 of this year. The scheme was open to first-time buyers (FTBs), movers and remortgagers, but the vast majority

Over 760,000 borrowers will be considering their mortgage options as their fixed-rate deals come to an end this year.