Why is it harder for first-time buyers to buy in 2025?

  For first-time buyers in 2025, the property market is in stark contrast to when previous generations bought their first homes. The average first-time buyer in 1960 paid a deposit of just £595 (roughly £12,738 today) compared to an average of £53,424 in 2024. A recent report by Skipton found that just one in eight […]

Your Guide to Saving For a Mortgage Deposit

Let’s get you ready to start saving for your deposit. Buying a house is expensive, especially if you’re a first-time buyer. 60% say the cost of raising a deposit is one of the biggest barriers to home ownership, second only to the cost of repayments. First-time buyers are being squeezed by creeping house prices, the […]

Think insurance companies don’t pay out? Think again!

Buying a home and taking on a mortgage is often the biggest financial commitment a person will make in their lives. With this in mind, protection polices offer great financial security, not just to protect you, but to protect your family, your income and even the loan itself should the worst happen. However, a barrier […]

Newsletter February 2025

Newsletter

What you need to know about credit checks before borrowing money

The information a lender finds during a credit check is important – it could affect whether you’re able to borrow money, including through a mortgage, and the interest rate you’re offered. Yet, they can also seem perplexing. Indeed, a Royal London survey found that a third of Brits had never looked at their credit report. The good [...]

How Improving Your Credit Score

Credit scores can affect anything from financing to phone contracts and loans. Most importantly, the better your credit score, the higher your chance of being offered a good deal for your mortgage, opening the door to significant savings. Lilac Financial can help you to understand your money, giving you valuable insights into becoming more financially [...]

How financial advice adds more value to your life than you may realise

The cost of living crisis is causing many to re-evaluate the benefits of financial advice.    Traditionally, the value of financial advice has been measured by monetary results of investment performance and returns. Today, the cost of living crisis is causing many to re-evaluate the benefits of financial advice. These days, financial planning is about [...]

The pros and cons of downsizing

Downsizing could mean lower overheads as well as the extra cash from the sale of your home. But there are factors to consider before you make the decision. From reducing household bills to boosting retirement savings, there are plenty of reasons why people choose to downsize and move to a smaller property. It’s important to [...]

Could mortgage relief measures risk a financial shortfall later on?

New measures agreed by banks and building societies to help homeowners with their mortgage payments could be a financial risk as they face a higher total interest bill but a lower income in retirement. Lenders have been encouraged by Chancellor Jeremy Hunt to offer more flexibility to homeowners through a new ‘Mortgage Charter’ to support [...]