Open Banking explained

Technology is always evolving to streamline our everyday lives. In every walk of life, there is a constant progression in how technology is used to make common practices run more smoothly. The mortgage sector is no exception. Open banking offers a customer-centric experience as it focusses on reducing the time and effort needed from you. With more and more processes being moved online – open banking limits the need to visit an actual bank and allows banks and budgeting apps to securely access your financial data – helping you save, budget and get on the market as efficiently and securely as possible.

Continue ReadingOpen Banking explained

The government’s pledge to combat declining homeownership rates

Between 1996 and 2016, the percentage of 25 to 34-year-olds who own their own homes has fallen 19% from 55% to 34%. In a bid to combat this, prime minister Boris Johnson has set out plans that include proposals for housing benefit being able to be counted towards a mortgage. The prime minister vowed to “turn benefits to bricks”, saying it is unfair that homeownership is dominated by over 65-year-olds.

Continue ReadingThe government’s pledge to combat declining homeownership rates

GI and DIY: How to stay protected

After a global pandemic forced us all to stay inside, many of us decided to make ‘inside’ a nicer place. During the national lockdown, 61% of homeowners put their skills to the test and tried their hands at some DIY home improvements – resulting in an estimated £21.3 billion increase in the value of homes in England. Homeowners spent over £11 billion on various projects during the course of the pandemic, and many have more than broken even with the added value to their property – but what affect does ‘doing it yourself’ have on your home insurance?

Continue ReadingGI and DIY: How to stay protected