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.
The increase in demand is likely being driven by a desire to have financial safety nets in place due to health concerns and economic uncertainty, prompted by the pandemic.
Mortgage advice on the up
More than two-thirds (67%) of advisers have also seen increased demand for mortgage advice, supporting Bank of England figures that show UK mortgage levels are at their highest for 13 years. The Stamp Duty holiday, alongside rising demand for larger properties with more outdoor space, have helped boost the property market.
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Since the onset of the pandemic, there has been a surge in demand for protection insurance, as people focus on their health and finances. Protection has provided a lifeline for many families facing uncertainty. Many insurers have adjusted their application processes and introduced new questions around COVID-19. If you’re looking to get the right protection cover in place for you and your family, please get in touch.
As with all insurance policies, conditions and exclusions will apply
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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 £799.
Our mission is to provide honest mortgage advice, whilst helping you save money.
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