Blog

Keep up to date with the latest mortgage news on Gareth’s blog.

 

Life insurers paid out £980,000 per day

At the height of the pandemic, between 1 March and 31 May last year, insurers received 7,000 life insurance claims and paid out £90m, equivalent to £980,000 every day1. Full year figures revealed The Association of British Insurers (ABI) has now published figures for...

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Equity Release Availability hits record high

Equity Release Availability hits record high

The number of equity release products on the market has reached a record high, with over 5001 products now available, resulting in greater choice and flexibility for consumers. The average interest rate for Q1 was 2.84%, which compares to an average rate of 4.16% in...

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Why Reviewing Protection Cover Pays

Why Reviewing Protection Cover Pays

Many of us review our home and car insurance policies every year to see whether we can save money or to look for more suitable cover. Reviewing personal protection cover in this way is just as important, but because policies tend to last for several years, this can...

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Save Money By Remortgaging In 2021?

Save Money By Remortgaging In 2021?

British homeowners could save an average of £169 a month by remortgaging to a fixed-rate deal at today’s low rates, according to research1. This figure equates to an annual saving of over £2,000, yet almost nine in 10 borrowers haven’t thought about switching...

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COVID-19 And The Gender Protection Gap

COVID-19 And The Gender Protection Gap

The latest FCA Financial Lives Survey has revealed a significant protection gap, with 53% of people holding no protection insurance products at all1.    There are also large disparities between genders, with research consistently demonstrating that fewer women...

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Is now a good time to fix your mortgage?

Is now a good time to fix your mortgage?

Five-year fixed rate mortgages have dropped to the lowest rates on record, handing a boost to people wanting to get a competitive deal, whether remortgaging or buying a home. This comes after rates on some two-year fixes dropped below 1% recently for the first time...

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Life Cover Myths- Debunked

Life Cover Myths- Debunked

Life cover ‘myths’ prevent people from taking out much-needed insurance, according to research1.    A survey from a price comparison site revealed that 40% of adults with dependent children have not yet taken out life insurance. When asked why they had not taken...

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I Rent, So I Don’t Need Life Insurance

I Rent, So I Don’t Need Life Insurance

A common misconception about protection insurance is that you don’t need it unless you have a mortgage and children.  So prevalent is this myth, in fact, that less than 20% of tenants have insurance in place (whether individually or through work) that would cover...

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Majority Of Tenants Without Income Protection

Majority Of Tenants Without Income Protection

The number of people renting in the UK is growing all the time. Yet according to a report1, less than 10% of tenants have individual protection in place to cover their rent if they were unable to work due to illness.  This compares to 58% of mortgage holders who have...

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Women Disproportionately Affected

Women Disproportionately Affected

During the pandemic, certain factors have heightened the vulnerabilities of women’s finances. It’s well known that women generally earn less than men, work in industries that tend to be more vulnerable in uncertain economic times and are usually the main carer for...

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Why are house prices soaring in a pandemic?

Why are house prices soaring in a pandemic?

During the 2008 financial crisis, house prices plummeted as the market went into freefall. This time has been very different. Figures from Nationwide suggest house prices are up 13.4% year-on-year1, and there are a few reasons for this. The government’s Stamp Duty...

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What Do You Need From Your Home

What Do You Need From Your Home

Lockdown has given many of us time to ponder the advantages and disadvantages of our properties.   According to research, a quarter (26%) of renters and homeowners now want different things from their property, with previously highly-valued characteristics...

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What’s your best bet for buy to let?

What’s your best bet for buy to let?

With demand for homes so high, buy to let is a solid investment choice. However, the rental yield you can expect depends on location. Research from Seven Capital has revealed some top buy- to-let spots; Birmingham tops the list with an average rental yield of 5.4% and...

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Pandemic Driver Demand For Financial Advice

Pandemic Driver Demand For Financial Advice

Nearly a third of advisers have reported increased demand for their services on the back of the pandemic, according to research1. A total of 39% say their clients have sought advice about income protection and 36% have seen higher demand for critical illness cover....

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An Introduction to Green Mortgages

An Introduction to Green Mortgages

The built environment contributes around 40% of the UK’s total carbon emissions1, meaning energy efficiency is becoming an increasingly essential issue. Enter green mortgages: loans according to which a lender will offer buyers preferential rates and terms if the home...

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Where to invest in Buy to Let

Where to invest in Buy to Let

Investing in a buy-to-let property delivers an average return of 5%, making it a solid choice for would-be investors. However, the returns you’ll get depend heavily on where you buy, research1 shows. Birmingham takes the top spot The study by Seven Capital examined a...

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Protection – Make sure you keep a step ahead

Protection – Make sure you keep a step ahead

Nearly a third of homeowners (31%) have said they would only consider purchasing protection insurance if they fell ill1 – which defeats the point as it’s already too late.  Other triggers for taking out protection include having an accident (24%) or a change in...

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UK Housing market “On Fire”

UK Housing market “On Fire”

With house prices continuing to strengthen, many buyers are engaged in a race for space. The extension of the Stamp Duty holiday, and subsequent taper, are helping fuel the market.  In June, Andy Haldane the Bank of England’s Chief Economist at the time, spoke at a...

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Avoid that holiday Selfie

Avoid that holiday Selfie

With limited travel back on the agenda, including staycations for many, it pays to think twice before posting a holiday selfie on social media. Your insurer may think you are advertising the fact that you are away from home, leaving your property unoccupied and your...

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Millions Hiding Ill Health From Loved Ones

Millions Hiding Ill Health From Loved Ones

Seven million people are keeping quiet about mental health issues, while nearly four million are hiding a physical health problem from their families, according to a study1.  Keeping loved ones in the dark about health issues can create problems both now and in the...

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Stamp Duty – Just a Reminder!

Stamp Duty – Just a Reminder!

The temporary raising of the nil-rate Stamp Duty band threshold to £500,000 ended on 30 June. The measure was introduced in July 2020 to maintain confidence in the housing market during the pandemic. Don’t despair if you missed the deadline, as there's now a tapered...

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A Record Summer for house prices?

A Record Summer for house prices?

House prices continue to rocket, with the Nationwide House Price Index1 revealing annual house price growth of 13.4% in June, the highest level since November 2004.  The extended Stamp Duty holiday, in addition to the new mortgage guarantee scheme and changing...

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Your Mortgage Options During A Divorce

Your Mortgage Options During A Divorce

Many family lawyers are predicting that the stresses of the last year will result in a post-lockdown divorce boom. For couples who own their home, one of the biggest decisions is what to do with the property.   One option is to sell the house and split the...

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£17m a day paid in protection claims

£17m a day paid in protection claims

Association of British Insurers (ABI)1 figures show that the insurance industry paid out £6.2bn in life insurance, critical illness and income protection claims in 2020, which averages £17m a day, the highest combined figure on record and up 8% on 2019.   ...

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Who Benefits From Your Life Insurance?

Who Benefits From Your Life Insurance?

It’s a good idea to take out life insurance, but don’t forget to make sure the proceeds of any payout will go to those you want to benefit. Too often, policies are set up incorrectly and may mean that your loved ones miss out.    Unmarried partners would not be...

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What Invalidates Your Home Insurance?

What Invalidates Your Home Insurance?

One in four UK households have no home contents insurance1, but even if you are insured, you could be invalidating your cover without realising. Here’s how: Unoccupied homes Home insurance policies usually limit the number of days you can leave your property vacant...

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(Your home may be repossessed if you do not keep up repayments on your mortgage)

We charge a fee for arranging and advising you on the mortgage. The fee will be dependent on your circumstances but will not exceed £499. (Our typical fee is £299.)

For Lifetime Mortgages/Equity Release the fee will be £999.

” Can I say thank you to Gareth for helping me sort out my remortgage he was a great help.
And can I say Kelly you did a great job as I’m alway away or working but you helped me kept me informed and chased me for paperwork. Good team”

Gerry Fitzgerald – Google Review

As first time buyers we had no idea about mortgages and would have just gone with our bank had it not been for South Coast Mortgages. They made it so easy to understand and got us the best deal.

Antonia M – Google Review

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South Coast Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered Office: 59 The Avenue, Southampton, Hampshire, SO17 1XS. Registered Company Number: 08414746 Registered in England & Wales.