Mortgage and Insurance Blog

Date - 02nd December 2021

Written by Richard Johnson

 

Hello again readers,

I hope you are all keeping safe and well and if you need any assistance with your mortgage finance or insurance needs, please feel free to email / call me and I will be happy to help.

 

It has been a busy week in the interest rate world this week with Accord, Newbury, Metro, BMS, Halifax, Foundation HL, Virgin, Skipton, Newcastle, Leek and West Bromwich have all announced recent changes.

In criteria news, Metro makes changes to its LTV levels on their BTL range.

Furness will accept a grade one property.

Barclays will potentially accept a self employed borrower who has taken a BBL during the pandemic.

 

In wider news, The delivery of new homes in 2022 will be in line with 2019 after a boost this year, according to the Zoopla New Homes Outlook Report.

Zoopla estimated that completions for the year will amount to 170,000 homes in England.

The North West, Yorkshire and the North East have seen strong new home buyer demand at more than 30% above the five-year average as the relative affordability of these markets prices in buyers and fuels demand.

In London, buyer demand for new homes has remained around 25% below the five-year average.

 

In Insurance news, Aviva has paid out over £16m in testicular and prostate cancer critical illness claims during 2020. The insurer released the statistics about common claims that affect men – testicular and prostate cancer, mental health, and suicide – to support Men’s Health month (Movember). Prostate cancer was the second leading cause of all male critical illness cancer claims. During 2020, Aviva paid £11,287,792 in prostate cancer claims to 167 critical illness customers – an average payment of £67,592.

However, prostate cancer was not one of the top five cancers that led to life insurance claims. Men are living longer with prostate cancer and therefore more likely to claim on critical illness policies than life cover.

Overall, critical illness customers with testicular cancer were paid a total of £4,968,486, with an average payment of £97,421 to 51 customers. Men under 60 accounted for almost nine in 10 (87%) of male critical illness claims, with 9% of claims coming from men aged under 40.

 

If you need help looking into the wordings and definitions of a new plan, please feel free to get in touch and I’ll be happy to help arrange the new cover.

 

All the very best,

 

Richard Johnson

Cert CII (MP), CeCM, AdvCemap, CeRGI

Mortgage and Insurance Consultant.

Mobile Phone ; 07881802962

Office : 0208 245 8464 direct dial

Email : richard@rjmortgagefinance.co.uk

 

 

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