According to a recent survey of 10,000 employees by Salaryfinance.com, 40% of UK employees have money worries. This results in them being over eight times more likely to have sleepless nights, and over seven times more likely not to finish their daily tasks at work. These money worries can impact relationships with colleagues and lead to an increased likelihood of experiencing depression and panic attacks.
Let’s talk mortgages…
A mortgage is likely to be your biggest monthly outgoing and overall financial commitment. With 1 in 7 people unable to pay their mortgage if it was just £99 more per month, having the right mortgage and protection in place is essential.
Our mortgage advisers are fully qualified to carry out affordability tests to make sure you can afford to make your repayments over the course of the mortgage term. Once we’ve found you a mortgage that’s right for your circumstances, we can discuss your needs and advise on which protection policy we think is right for you too, whether that’s income protection, critical illness cover, buildings and contents insurance etc.
Even if you’ve already taken out your mortgage and you’re worried there’s a chance you might not be able to afford your mortgage repayments, you can get in touch with your lender. They’ll be able to come to a new arrangement for you. For example, you might decide to extend the term of your mortgage in order to reduce your monthly repayments, or you might decide to take a mortgage holiday in the short-term, and pause the payments.