The coronavirus outbreak has hit businesses across the UK, leaving many individuals and families in a precarious financial position. The crisis has shown that financial hardship can strike when we least expect it, demonstrating the importance of protection cover.
THE BUDGET – HOUSING NEWS
In March, Chancellor Rishi Sunak’s debut Budget tackled the COVID-19 outbreak by announcing a fiscal stimulus and support for the NHS and businesses. Housing was not a primary focus of the Budget, but there was an announcement of a new tax for those buying property from overseas; whilst a synchronised Bank of England base rate cut of 0.5% held significance for some mortgage rates.
EQUIP YOURSELF – BE SCAM SMART
have shown that fraudsters are taking advantage of people’s fears at this vulnerable time to get hold of their hard-earned money.
VITAL FINANCIAL PROTECTION OVERLOOKED BY NEW PARENTS
According to recent research the average expenditure by couples becoming parents for the first time has increased by more than 18% since the same survey was first conducted in 2012 and now stands at £1,645. This is the equivalent of more than £469m a year across the UK.
COULD NOW BE THE RIGHT TIME TO REMORTGAGE?
Failing to switch from a lender’s Standard Variable Rate (SVR) once a fixed, discount or tracker mortgage deal ends, can result in homeowners being penalised for their inertia..
PROTECTING YOUR INCOME – NEED TO KNOWS
Many people miss paying their rent or mortgage because illness or injury prevents them from working. If the only money you have coming in is sick pay and possibly state benefits, it’s easy to see how it might become difficult to pay what is likely to be your largest monthly outgoing.