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A home move is a seismic event in your client’s lifetime, especially for first-time buyers. Amid the flurry of paperwork, constant preparation, and planning, there’s a significant need for quality advice and support, and usually a general insurance-shaped hole.
Advisers constantly battle aggregators to offer competitive premiums to their customers. Understandably, clients often find it difficult to decipher which product offers sufficient coverage (for a reasonable price).
In the month of June, the monthly searches for re-mortgaging took a significant leap, with a nearly 22% increase on the previous month. This was revealed in exclusive data from Twenty7tec. On top of this, purchase mortgage searches increased by 0.6%, along with buy-to-let searches rising by 11% when compared to May 2023.
As all advisers will already know, mortgage demand is currently heading for a 12-year low, with high interest rates causing repercussions throughout the industry.
The end of the year typically gives people the prime opportunity to reflect on the previous 365 days, with 2022 no different. However, this is also the perfect time to search ahead for what may await us in the future. Predicting insight into upcoming events can give you an advantage in the future market.
2022 saw many changes throughout the insurance industry, especially from a financial point of view. Companies, advisers and customers have all felt the increasing pressure of rising living costs. With property valuations, rent costs and general expenditure climbing to new heights, 2022 will be remembered for years to come.