With the cost of living crisis in full swing and inflation not falling as quickly as expected, many households are actively feeling the strain.
According to the latest Office for National Statistics (ONS) data, 93% of adults in Great Britain reported an increase in their cost of living in April 2023, with more than 4 in 10 of the population expecting to save no money whatsoever over the next year.
Safeguard your investment
As a private landlord, it’s important to ensure that your investment property is protected with adequate landlords insurance cover. Landlord insurance provides a layer of protection that standard homeowners insurance policies do not cover. It can help you recover from unexpected events, such as property damage, loss of rental income, or legal disputes with tenants.
How we can help
We want to ensure that our customers find the insurance cover that fits their life perfectly. It can be hard to navigate through lists of policies that providers supply, and it can be easy to take out a policy that is not relatable to your situation, yet still be paying for them.
Our experienced brokers have access to exclusive deals and policies that are only available through our Insurance partners. They’ll work with you to establish tailored insurance cover that would otherwise be difficult to find on the highstreet.
We particularly stress the importance of Rent Protection Insurance as this type of policy could help you ensure you receive your money on time if your tenant doesn’t pay their rent, and in some cases, your policy may even pay out if the tenant pays late.
Peace of Mind
Landlord insurance provides peace of mind that you are protected against unexpected events. As a landlord, you have a lot invested in your property, and having insurance coverage can help to mitigate some of the risks associated with renting.
Get in touch with our experienced brokers today on 0208 364 3444, to take advantage of our competitive single and multi property insurance deals.
Stamp duty receipts hit new record ‒ HMRC
Record levels of stamp duty were paid by movers in the last tax year, new data from HM Revenue & Customs (HMRC) has revealed.
Homebuyers paid £1bn in stamp duty land tax in March, an increase of 19 per cent on the previous month. In cash terms, that is a jump of £164m.
Across the year as a whole, £15.4bn was paid out in stamp duty over the 2022-23 tax year, an increase of nine per cent on the £1.3bn paid out in the previous tax year and a new record.
However, this is expected to drop sharply in the 2023-24 tax year.
Nationwide increases new business mortgage rates
Nationwide has increased rates across select mortgage products for new borrowers moving home by as much as 25 basis points.
This includes its two-year fixed mortgage at 60 per cent loan to value (LTV) with a £999 fee, which has gone up from 4.39 per cent to 4.64 per cent. The option with no fee has risen from 4.64 per cent to 4.89 per cent.
The three-year fix at the same tier with a £999 fee has increased by 0.15 per cent to 4.44 per cent, while the fee-free option has gone up by 0.2 per cent to 4.84 per cent.