UK Finance and the BSA have called for changes to be made to the SMI scheme to help homeowners as the furlough scheme draws to a close.
Alice Watson, head of marketing, insurance at Canada Life, said: “The pandemic has prompted people to re-evaluate what is most important to them, so it isn’t surprising that the over-60s are considering their later-life care plans.”
‘Host insurance’ complements a home insurance policy and provides cover for guest injuries, property loss, or damage caused by hosting activities.
The report involved 550 agents and 1,700 tenants from across the UK, as well as insights from industry figures including Christopher Watkin, Paul Shamplina and Peter Knight.
Almost half (46%) of Independent Financial Advisors (IFAs) in the UK have reported an increase in the number of over-50s reaching out to them for help over the past 18 months.
Sarah Coles at Hargreaves Lansdown said the current property boom will likely continue even after the end of the stamp duty holiday.
Welfare and immigration policies are contributing to unequal access to affordable housing, according to the Joseph Rowntree Foundation (JRF).
For new business, the core range for purchases has seen rate reductions of up to 25bps and 28bps on 2 and 5 year deals respectively.
Branded Standard Life Home Finance, the products will be provided by Key Group and will use its platforms.
The accolade reflects the bank’s activity in the build to rent (BTR) market, along with its home finance products.