Mortgage and Insurance Blog

Date - 07th July 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, with Leeds, Platform, Foundation, Principality, Paragon, Tipton, Vernon, Accord, Earl Shilton, Stafford, Nottingham, Danske Bank and the State Bank of India all announcing changes.

In criteria news, The Mortgage Work announce changes to their maximum re-mortgage limits for capital raising.

Kensington announce wide changes to the rules for self employed borrowers.

Pepper announces changes to their EU Settled status criteria.

Precise announces changes to its adverse credit rules impacting arrears and defaults/CCJ’s.

Mansfield makes changes to its probationary period for employed applicants.

Saffron make changes to the minimum period employed for PAYE employees.

In wider news, the Financial Times reports in 2020, gifts from parents, grandparents, friends and relatives were behind more than half of house purchases among the under-35s, according to a study by Legal & General — and this pattern of lending is expected to continue, and in a separate report from Just Group problems were noted as Parents fail to consider how they will pay for their own care costs when gifting money to children as confusion over the level of government support gives families a false sense of security.

Almost 70 per cent of parents who have given their children a cash gift had not considered how they would pay for their own care when deciding how much cash to hand over. And just four per cent had made helping them with their future care costs a condition of the gift.

Just Group’s care report, The Policy Vacuum, reveals that families do not discuss the knock-on effects of passing on a living inheritance due to confusion over how much financial help the government has agreed to provide.

And picking up on the self employed criteria change mentioned above, A survey by Shawbrook Bank, of more than 2,000 people, found that 35 per cent of those surveyed thought they couldn’t get a mortgage if they were self-employed. My experience tells me that most self-employed borrowers will be able to secure some finance, however it may not be what is expected and the time scale for securing a mortgage offer is also generally longer than expected.

In Insurance news, advisers have a "critical role" to play in helping clients, as well as wider society, ahead of what could be a significant health fallout from the Covid-19 pandemic, a panel of industry experts have stated. Speaking at the COVER Health Insurance Live event, panellists discussed the various issues that had arisen from the 18 month-long pandemic in the UK.

On top of delayed and cancelled treatments for critical illnesses such as cancer, many people in the UK have avoided seeing their GPs, which disrupted opportunities for early diagnosis. Lockdown has also exacerbated peoples' mental health, as working from home risking physical ill-health as well. Long Covid could also become an issue.

Claire Ginnelly, managing director of Premier Choice Group added "There are a number of conditions one could argue where we are going to have a new pandemic of at the end of this. Mental health has been discussed widely, but there is also the musculoskeletal (MSK) issues we are starting to see coming through from people working from home. There is help out there and it is the role of the adviser to make their clients aware of what is available."

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.

I hope you found this post of interest and feel free to get in touch with me if you need any help with your mortgage or insurance needs,


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 :




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