Navigating change: Key updates in lending
This month, we take a closer look at the current state of mortgage advising, where shifting market conditions and evolving legislation continue to shape client needs and opportunities. With interest rates stabilizing and lender criteria still in flux, now is a crucial time for advisers to stay proactive and informed.
We also spotlight the recently introduced Renters’ Reform Bill, which could have significant implications for landlords and renters alike. Additionally, we explore the growing interest in Holiday Let Mortgages and how they may offer fresh possibilities for investors seeking alternative income streams. We also share practical tips for helping clients get their mortgage applications back on track, especially those who may have faced delays or rejections amid the recent uncertainty.
Read below to find out all that, and more…
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Victoria Clark
Head of Lending
Equity Release is on the Rise
As of this month, the equity release market is experiencing notable growth and transformation.
The Equity Release Council reported a 32% year-on-year increase in total lending for Q1 2025, marking the fourth consecutive quarter of growth. This surge is attributed to more new borrowers accessing greater amounts of housing equity to manage mortgage debt, boost income, and support their families.
With interest rates stabilizing and consumer confidence on the rise, the equity release sector is poised for continued expansion…
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Victoria Clark
Head of Lending
Income Protection Sales Are on the Rise – Let’s Keep the Momentum Going!
We’ve seen a significant increase in income protection sales recently – a clear sign that more customers are recognising the value of safeguarding their income. This surge is a direct result of advisers making income protection a key part of their conversations.
Now more than ever, it’s vital we continue to highlight the importance of protecting a customer’s most valuable asset – their ability to earn. Life is unpredictable, and income protection offers peace of mind and financial stability when it’s needed most. Income protection is one of the most powerful tools we can offer. It gives people confidence, security, and peace of mind when life takes an unexpected turn. The rise in sales shows that when we talk about it, customers listen.
Keep leading these important discussions – they’re making a real difference.
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Amy Wilson
Head of Insurance
The benefits of an FMU over a MORI
Over the last few weeks quite a few of you have asked me, why one would sell a Full Medical Underwritten (FMU) policy over a Moratorium (MORI) policy. Therefore, I thought this would be a great opportunity for me to list the reasons why.
Clarity and Certainty from the Start
- With FMU, all pre-existing medical conditions are disclosed at the application stage.
- The insurer assesses the risk and states clearly what will and won’t be covered.
- FMU provides peace of mind and prevents disappointment when a client wants to make a claim at a later stage.
More Tailored Coverage
- Under FMU, the insurer might decide to cover some pre-existing conditions or apply specific exclusions based on your history.
- With MORI, pre-existing conditions are usually automatically excluded for a set period (typically 2 years), even if they are minor.
So, how would you come to the underwriting conclusion? It is worth considering the above points when speaking to your clients.
Should you wish to discuss this in greater detail, please get in touch.
Next PMI coffee morning is scheduled for 4th June 2025. Kick starting at 10am, with our guests Bupa and Simply Health.
A huge congratulations to Ben Towers for achieving CAS for PMI.
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Bipin Sandhu
PMI Supervision & Development Manager
Subsidence Concerns Amid Heatwaves
DID YOU KNOW??
Prolonged dry spells and heatwaves have led to a rise in subsidence claims? Particularly in the south. Homes built on clay-rich soils are especially susceptible, as the soil shrinks during dry periods, causing structural damage.
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Amy Wilson
Head of Insurance
