Understanding the value of protection

Working out the difference between life insurance, critical illness, income protection and buildings and contents insurance can be difficult, especially when they are wrapped up in the blanket term ‘protection’.

While it’s easy to presume there is an overlap and that an individual policy for each one isn’t necessary, they do all play their part in providing you with adequate cover should something unexpected happen.

It’s not all about you!

Think about protection insurance as something that safeguards everything that is important in your world: your health, your life, your job and your home. If you have a partner, children or other relatives who depend on you, think about them too.

And don’t let the jargon put you off. Understanding what is available and choosing the right amount of cover for you and your family is important. Working with us will help you find protection which is affordable and understand the value of each type of insurance, so you are reassured that you are selecting the correct policies to secure your financial future.

What’s putting you off moving? Setting aside a sluggish property market, it seems that, for many of us, it’s the thought that the process is just too stressful. The costs, finding a new mortgage, lack of certainty about a new area or a fear of the unknown has put off 60% of homeowners1 placing their current home on the market and looking for a new one.

It’s often said that moving home is more stressful than getting a divorce, having a baby, starting a new job or getting married. On the flip side, 62% say they are happier once they have actually made the move, so the key to a successful move is to identify the potential sources of stress and uncertainty and do all you can to eliminate them.

Embrace change

Some of us like change in our lives but for others who like familiarity it can be a source of anxiety. A new area, commute schools and healthcare can be enough to make you decide to stay where you are. So, in preparation, spend time in the new area, talk to potential neighbours, check out the local amenities and visit at different times of the day/week to check noise levels. Addressing each of these issues will hopefully make you feel in control and more positive.

Finding a new mortgage

The finances of a move may be your biggest worry. Whether you need to increase the size of your loan, transfer your existing mortgage or find a new provider, speaking to us early in the process, even before you have identified your next home, allows you to consider your options and review the likely repayment costs.

Yes, there are some unknowns involved in a move but remember that for many it’s a change for the better.

1Yopa, 2019

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.

The higher-than-average house price growth in top university cities is making it difficult for talented individuals to stay on and work locally after graduation. Research4 has shown that in the period 2009 to 2018 house prices in London have risen 76.3%, in Cambridge 73.4% and in Oxford 66.8%. This represents growth 25% higher than the national average.

Long term it is feared that the lack of affordable housing could hinder further economic growth and there is a call for local plans to include homes for key workers and for higher density development.

4Bidwells, July 2019