Mortgage and Insurance Blog

Date - 12th October 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 Halifax, Kensington, Newbury, Nat West, Coventry, Gatehouse, Accord, Nottingham, Melton Mowbray, Chorley, LendInvest, Furness and Loughborough all announced changes. Many lenders now are offering their lowest ever mortgage rates and there are many lenders with sub 1% for 2 -5 years.


In criteria news, Pepper lifts Loan to Value ratio on some adverse products.

Nottingham announce recently registered defaults are not acceptable.

Coventry have launched new 95% First Time Buyer products and make changes impacting gifted deposit and probation period.

Newcastle announces a change to the maximum age at application for their RIO product.

Vernon announced that any subject property situated next to class A3 or A4 commercial will not be acceptable.


In wider news, the movement of customers to online banking has prompted another bank to close the doors of some of its high street branches. Virgin Money will shut 31 of its 162 branches in early 2022. The bank, owned by the Clydesdale Bank and Yorkshire Banking Group (CYBG) since 2018, said the closures were precipitated by customers’ shift to digital banking. The number of customers using its branch locations for everyday transactions had been falling for years, a change accelerated over the last 18 months by the pandemic, it said.


Average rents in the UK have hit another record high of £1,061, up 7.5% on the same time last year, and up 0.8% from the previous month’s figure, according to the HomeLet rental index for September 2021. London saw an annual increase of 6.4%, taking the average to £1,752 per month – this jump of 2.3% was the biggest in the country. Excluding London, the average UK rent price is up to £891 per month, a 7.6% year-on-year increase.



In Insurance news, Data from the insurer’s WeCare support service shows mental health accounted for one in five of managed cases following referrals. Reviewing the period from March to August this year, Canada Life found that more women were seeking mental health support than men, with 61% of cases for women and 39% for men. The majority of cases were in the age group 28-33, accounting for 22% of cases, followed by ages 34-39 at 18% of cases. Canada Life extended access to WeCare to its group income protection policyholders at the start of March this year.

As I have mentioned before, when we arrange a new plan for a client, we will look to include these health and wellbeing services as standard.


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 :





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