Self-care for your mortgage and protection

22 June 2023

As daffodils and tulips bloom across gardens around the country, the prospect of new starts – and better weather – can help lift people’s spirits. As part of your spring ‘self-care’ workout, it’s a great time to make sure your finances are on track.

Looking after number one

Self-care, according to NHS England, is about “keeping fit and healthy, understanding when you can look after yourself, when a pharmacist can help, and when to get advice from your GP or another health professional.” It’s not so different with your finances. Getting everything in order can provide a huge boost for your peace of mind. And if something isn’t how it should be, knowing when to seek the advice of an expert is crucial for your self-care.

Mortgage

The mortgage market has been through a challenging period following the mini-Budget last autumn, leading many to face difficulties re-mortgaging or making repayments. For most homeowners, the monthly mortgage costs are often the biggest regular outgoing, which makes them a prime target for a bit of ‘self-care’.

Protection

Likewise, protection is a vital part of ‘self-care’ because it provides the peace of mind that can underpin all your other financial decisions. Knowing that you are covered should you lose your salary, or that your family won’t suffer financial hardship once you are no longer here, helps many people sleep a little easier at night.

Support when it’s needed

To look after yourself and your finances, you sometimes need to speak to the experts. We’re happy to help!

🚨 Data accurate as of the date of publication – 22.06.2023

🚨Think carefully before securing debts against your home.  Your home may be repossessed if you do not keep up repayments on your mortgage.

🚨 The above material is for informational purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance, credit agreement or other financial product, you should obtain individual advice on your requirements and the general terms of the contract.

 

Source: Quilter Financial Planning – Essentially Mortgages Q2 2023

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