In the last few years many people have had to make changes to the way they live to save money.
The cost of living has sky-rocketed and, for some, big monthly bills like your mortgage repayments have become a source of stress and pressure.
The statistics speak for themselves:
• In January 2024, 35% of adults in Britain said they were finding their rent or mortgage payments difficult to afford.
• In January 2024, 7.4m people were struggling to pay bills and credit repayments.
• Nearly 40% of UK workers have sleepless nights due to money worries
• One in three of us say thinking about our financial situation makes us worried.
It’s Talk Money Week from 4th – 8th November, and here at L&C we’re encouraging everyone to talk about mortgages and protection.
Could you save money on your mortgage?
A mortgage might be the largest debt you ever take out and the monthly repayments can be substantial. So, it’s important to make sure you’re not paying a higher rate of interest than you need to. There might be better mortgage options available for you or your loved ones and you can find out free of charge.
Did you know?
• If you’re on your lender’s standard variable rate (SVR) chances are you’re paying too much!
• You can find a new mortgage deal up to 6 months before your current deal ends
• L&C’s online Mortgage in Principle is based on over 45 lenders' affordability calculations and is sent through in minutes
We could help – get in touch. Our Mortgage Experts have access to thousands of deals from over 90 mortgage lenders, so it doesn’t matter how niche your circumstances are, we should be able to help. What’s more, L&C is a fee free mortgage broker, so they’ll be no hidden charges.
You can get started online with our Mortgage Finder.
Protecting your finances
Do you and your loved ones know about all the different types of protection available to safeguard your financial situation? Protection isn’t just life insurance…
1 in 2 of us will develop some form of cancer in our lifetimes and a diagnosis can be life-changing. You may have to dedicate time and money to receiving treatment, and it’s not just loss of income to consider in this. Think about travel to and from the hospital for appointments, food and drink while you’re at hospital, the childcare you might need to arrange, or the new clothes you may need to buy in response to the treatment.
Zurich’s ‘Hidden Cost of Cancer’ report found that 7 in 10 people living with cancer now face unexpected costs averaging around £6,500 a year.
In this instance, a Critical Illness protection policy could help. If you’re diagnosed with a critical illness, it could pay out a lump sum to help you adapt. This could be used to clear a mortgage, pay for treatment, cover your bills if you can’t work or just create opportunities to spend some money on yourself and your family.
While none of us want to think about ourselves or our loved ones being in ill health, it’s an unfortunate reality for many of us and a protection policy could help ease the financial burden it can bring.
Speak to one of our Protection Experts free of charge and they can get to know your current situation and advise on the best type(s) of cover for your wants and needs. You can build a level of cover to suit your budget. Call free on 0808 073 1932.
Just bringing it up can help
While money might feel like an uncomfortable subject, breaking through that barrier could do wonders. It’s the old saying… a problem shared is a problem halved. Many keep their money troubles quiet, but asking the question directly could encourage a loved one to open up.
Even if you suspect everyone around you is coping perfectly well with their situation, using this as an opportunity to check in on each other lets them know they could come to you if things took a turn. And you never know who might appreciate some advice until you’ve asked them!
Our customers get £ for referrals
Just a reminder if you’ve used our service before – you can make money by referring a friend!
If you refer someone and they go on to apply for a mortgage through L&C, you’ll get a £20 Amazon voucher sent to you as a thanks when their mortgage offer comes in. Sign up to get your unique link today! T&Cs apply.
