Owning a home comes with a lot of choices – from pulling equity out of your house to picking the right insurance policy. This guide pulls together the most useful tips from our recent articles so you can make faster, smarter decisions without wading through jargon.
If you’re 55 or older and wonder how much cash you can pull from your home, the answer depends on three things: the value of your property, the lender’s loan‑to‑value (LTV) limit, and your health status (for lifetime mortgages). In 2025 the typical maximum LTV sits around 60% for a standard lifetime mortgage, which means a £300,000 home could release up to £180,000. Reverse mortgages in New Zealand work a bit differently – they often cap at 40% of the property value. Use the quick formula property value × LTV to get a ballpark figure, then check the fine print for fees and interest compounding.
One common mistake is thinking you’ll have monthly repayments. Most equity‑release products roll interest into the loan, so the balance grows until you sell or move into long‑term care. If you need regular cash flow, look for a plan that offers a small monthly draw, but remember that will increase the total interest you pay.
A standard homeowners policy should include four key coverages: building, contents, liability, and accidental damage. Building cover protects the structure itself, while contents cover your personal items. Liability steps in if someone gets hurt on your property, and accidental damage fills gaps like burst pipes. When comparing policies, check the limits for each area – a common pitfall is under‑insuring valuable items like electronics or jewellery.
To keep premiums down, raise your excess, bundle with auto or life insurance, and improve home security (alarms, deadbolts). Remember, the most expensive policies aren’t always the best. Look for insurers that offer discounts for no‑claims history and that have transparent claim processes.
Beyond insurance, consider the 80/20 rule: your insurer usually pays 80% of a claim, you cover the remaining 20% as a deductible or co‑pay. Knowing this split helps you budget for out‑of‑pocket costs when a claim happens.
When it comes to borrowing more against your home, you don’t always need a full remortgage. Options like a home equity loan or a HELOC (home equity line of credit) often have lower fees and let you draw only what you need. Compare interest rates, set‑up costs, and repayment terms before deciding.
Refinancing or remortgaging can lower your monthly payments, but only if the new rate is significantly better than your current one after accounting for break‑fees and legal costs. Use a simple spreadsheet: new monthly payment = (remaining balance × new rate) / 12, then add any one‑off fees spread over the loan term. If your payment goes up, you might still benefit from a shorter term that saves interest overall.
Finally, keep an eye on your credit score when you refinance or take out a home‑equity loan. Most lenders do a hard pull, which can dip your score by a few points. The impact is usually short‑lived, especially if you pay the new loan on time. To protect your score, avoid applying for multiple products within a short period.
These homeowner tips are designed to give you a clear roadmap – whether you’re unlocking equity, buying insurance, or tweaking your mortgage. Apply the advice, run the numbers, and you’ll protect your home and your wallet without the usual guesswork.
If you're noticing a sharp rise in your home insurance costs, you're not alone. Many homeowners are seeing a doubling of their premiums and are left wondering what's behind the increase. This article explores the factors driving the change, from climate-related risks to inflation, and offers practical advice to help manage your insurance policy effectively.
