Pioneer Mortgage and Protection Limited

A recent survey has highlighted that those in the medical profession understand the importance of income protection. Doctors were the most common applicants for income protection insurance 1️⃣, suggesting that witnessing the impact of serious illness in their job has made them realise the value of having cover. Doctors going private - Doctors are taking on more private work, which is likely to have prompted them to take out income protection insurance. Many will have lost the benefit of statutory sick pay, so are taking action to make sure they are not left in a vulnerable financial position if they became seriously ill or injured. The importance of long-term protection - Income protection is not just relevant to those who are self-employed. Even if you are in employment and entitled to statutory sick pay (SSP), this is not likely to be enough to support you if you are unable to work for a long time. Long-term income protection can provide you with a regular income if you are out of work for an extended period due to injury or illness. If you are unable to go back to work, it will pay out until you retire. We can help you source appropriate cover based on your specific circumstances - contact enquiries@pioneermortgage.co.uk As with all insurance policies, conditions and exclusions will apply. 1️⃣ Iress, 2024 #MortgageAdvice #Insurance #IncomeProtection

🔑 In our latest video, expert Paul Burns explains why you shouldn't feel pressured to talk to a mortgage advisor your estate agent recommends. For further advice, contact our experts at enquiries@pioneermortgage.co.uk #MortgageAdvice #MortgageAdvisor #Mortgages

The average monthly mortgage bill for first-time buyers (FTBs) has reduced over the last year, according to recent figures 1️⃣. Monthly repayments for FTBs now average £949 a month, having reached £1,096 in July 2023. This is based on the cost of a property with two bedrooms or fewer, with a 30-year mortgage term and 20% deposit. The reduction is partly due to the fall in the CPI inflation rate, which decreased from 6.8% in July 2023 to 2.2% in July 2024. FTBs in London will have experienced the most significant drop in their monthly mortgage bill, but they are still likely to be paying more than other areas of the UK. Average UK wages went up by 4% year-on-year, which has also helped improve affordability. Your home may be repossessed if you do not keep up repayments on your mortgage. 1️⃣ Rightmove, 2024 #FirstTimeBuyers #MortgageAdvice #Mortgages

Discover the Pioneer Difference! 🌟 At Pioneer Mortgages, we’re all about making the home-buying process smooth and stress-free. Our goal is to turn what can feel like a daunting task into an exciting, enjoyable experience. With you in the driver’s seat, we provide personalised advice tailored to your unique situation. Whether you prefer virtual or in-person consultations, our team is here to support you—over the phone, email, or whatever works best for you. Contact us today at enquiries@pioneermortgage.co.uk and see how we can help. #HomeBuying #Mortgages #MortgageAdvice

A survey of homebuyers and movers has offered an insight into what the nation wants from the new Labour government. Access to longer mortgages - A third of respondents said they want better access to long-term fixed mortgages 1️⃣. Despite this, only 8% would be prepared to take out a 10-year fixed deal now – likely due to high mortgage rates at the moment. Adjusting to higher rates - The report indicated that buyers are generally adapting to the higher mortgage rates, with 37% saying their buying plans were unchanged – up from 29% in February. Contrary to government plans - Many of the desires expressed in the survey were not in line with government’s plans. The Freedom to Buy initiative is set to be introduced soon, but only 26% of respondents wanted help for first-time buyers. Iwona Hovenko at Bloomberg Intelligence observed, “Almost half of respondents in our survey seek a cut in Stamp Duty from the government, but we don’t see this as likely in the near term. The desire was strongest among movers and buyers in Southern England, due to disproportionately high taxes on pricier homes.” We can help you find the right mortgage, based on your specific circumstances. Get in touch for advice - enquiries@pioneermortgage.co.uk Your home may be repossessed if you do not keep up repayments on your mortgage. 1️⃣ Bloomberg Intelligence, 2024 #MortgageAdvice #StampDuty #HomeBuyer

Protect what matters most 🛡️ Our expert Paul Burns explains why setting up life insurance is important. #LifeInsurance #FinancialProtection #MortgageAdvice

In August, the Bank of England (BoE) cut Bank Rate for the first time since March 2020. But what does this much awaited reduction mean for the housing and mortgage markets? Bank Rate - Bank Rate is the interest rate that the BoE pays to commercial banks that hold money with them. This directly affects the interest rates of the high street banks that you borrow and save with. Bank Rate had been held at 5.25% for seven consecutive months to help control inflation. In August, the Monetary Policy Committee (MPC) marginally voted in favour of reducing Bank Rate to 5%, by five votes to four. Inflation rates - The BoE’s target is to keep inflation at 2%. It peaked in October 2022, when rates hit 11.1%. In May and June of this year, inflation reached 2% but it rose slightly in July to 2.2%. Mortgage rates - Those that have a tracker mortgage (which follows the Bank Rate) will have benefitted from a small reduction in their monthly repayments after the August cut. However, mortgage holders on a fixed rate deal won’t have been affected by any changes. However, new borrowers may have noticed slightly lower rates available to them. Tim Bannister, Rightmove’s property expert, commented, “Though optimism around the direction of mortgage rates is justified, the reality is that they are still very high compared with a few years ago, and there will be some who need rates to drop further before their affordability is notably improved.” Housing market - The housing market has started to adapt to higher mortgage rates, with many reassured by the prediction that Bank Rate is not going to increase further. Zoopla reported, ‘The housing market is on track for 10% more homeowners moving compared to last year, and Zoopla expects average house prices to be 2% higher by the end of the year.’ Promisingly, buyers are currently paying 97% of the property’s asking price – the highest proportion in 18 months 1️⃣. Future cuts to Bank Rate? Analysts expect that there will only be one more cut to Bank Rate this year, which they predict will be by another 0.25%. Following the August reduction, Andrew Bailey, BoE Governor warned, “We need to make sure inflation stays low and be careful not to cut interest rates too quickly or by too much." The MPC is concerned that lower interest rates will encourage consumers to spend more, thus increasing demand and causing inflation to rise again. Here to help - We understand that it can be daunting to keep up with the changes in the economy and how they impact you. We can help you navigate the changing housing market and explain what it means for you and your mortgage. Contact us for advice today - enquiries@pioneermortgage.co.uk Your home may be repossessed if you do not keep up repayments on your mortgage. 1️⃣ Zoopla (part of Houseful), 2024 #BankRate #InterestRate #MortgageAdvice

A fantastic review for Paul Burns from his lovely clients! 💬 #Feedback #Mortgages #Property

At Pioneer Mortgages, we provide expert guidance tailored to your unique needs, whether you're exploring self-build mortgages, commercial loans, or more specialised options. Our team is well-versed in second charge mortgages, impaired credit solutions, bridging loans, and development finance, offering support every step of the way. Regular mortgage reviews are key to ensuring you’re always getting the best deal. Trust us to help you stay on top of your financial goals with clear, transparent advice. Remember, commercial mortgages typically fall outside the scope of FCA regulation. Rest assured, we'll provide clear guidance and transparency every step of the way. Get in touch today! enquiries@pioneermortgage.co.uk #MortgageAdvice #SpecialisedLoans #FinancialPlanning

A study has found that prospective buyers would improve the energy efficiency of their property in order to get a better mortgage deal. Green mortgages are on the rise, encouraging borrowers to make their homes energy-efficient by rewarding them with cashback or better interest rates. However, over half (51%) of future buyers did not think they could afford the cost of the improvements. Better mortgage rates were not the only reason why respondents were keen to make their home more eco-friendly. 36% thought improving the energy efficiency would make their home more liveable, while 32% said it would make it easier to sell. If you’re considering a green mortgage, get in touch – we can explain your options - enquiries@pioneermortgage.co.uk Your home may be repossessed if you do not keep up repayments on your mortgage. #MortgageAdvice #GreenMortgages #MortgageRates