Nationwide have launched a New Product for existing Mortgage members, the first of its kind. The product is designed to support members to make their home more energy efficient.

Nationwide are offering a 0% range for Further Advances with no interest to pay for up to five years. The Loan size is from £5,000 to £15,000 up to 90% Loan to Value. There are 2 & 5 Year fixed term options. The 0% rate stops when the fixed period ends and the amount will revert to the Standard Mortgage Rate, or you can switch to another rate subject to availability.

The entire loan must be spent on green home improvements such as:-

  • Solar Panels
  • Electric Car Charging Point
  • Window Upgrades
  • Boiler Upgrades
  • Cavity Wall installation
  • Loft Insulation
  • Air Source Heat Pump

Members can use any local or national contractor: Only one 0% Green Additional Borrowing mortgage will be available per household, subject to meeting eligibility

Contact us for more information or an illustration.

£150 Million Help to Build Mortgage Scheme

The Government has launched a new ‘Help to Build’ low deposit mortgage scheme, supported by £150 million in funding, to help more people build their own homes.

The scheme will enable people to custom build a new home with just a 5% deposit alongside a Government-backed equity loan, similar to the Help to Buy scheme.

It is hoped that the new scheme will increase the number of people looking to build their own home and help people realise their dreams. New products are currently being developed by many lenders to accommodate the new scheme. Here at PIA, we will guide you through the maze and help you realise your dream home.

Give us a call and talk to one of our experienced advisers today.

95% Mortgage Guarantee Scheme

95% Mortgage Guarantee Scheme

This scheme has been designed similarly to the previous 95% Help to Buy Mortgage Guarantee Scheme which was launched in 2013 and helped over 100,000 households purchase a home.

Under the terms of the new scheme, the government will guarantee the portion of the mortgage over 80% (with a 95% mortgage, the remaining 15%).

Several high street lenders have announced they will be taking part in the new scheme and here at PIA we will be able to guide you to the right lender for your needs. The scheme will launch in April and is expected to be available until December 2022. There will be certain eligibility for the scheme and below is the information we know so far:

  • The scheme is applicable for residential mortgages only and is not available for the purchase of second homes or buy-to-let
  • Applications need to be taken out by individual(s), not a limited company
  • Property must be in the UK with a maximum value of £600,000
  • Application loan to value (LTV) must be between 90% and 95%
  • Only available on a repayment basis, not interest-only
  • Borrowers must meet the lender’s affordability and credit policy
  • Products available will be on a long-term fixed basis, minimum product term five years

To find out more, contact one of our advisers, who will be happy to help

Stamp Duty Changes

Exciting News for the mortgage and housing market!

The Stamp Duty holiday has been extended until 30 June for property priced up to £500,000, potentially saving home buyers up to £15,000.

And, from 30 June the Stamp Duty threshold will change to £250,000, so home buyers will only pay stamp duty for properties over this amount.

This new threshold of £250,000 will stay in place until 30 September at which stage the threshold will revert to £125,000.

Here at PIA we are waiting to hear from you with any questions or enquiries you may have. Get in touch today to talk with one of our team.

What is a Trust?

What is a Trust?
The big question on everyone’s lips, what is a Trust? The simple answer is ‘A Trust is a simple legal Arrangement’. This allows you (the settlor) to gift your life insurance policy to someone else (the beneficiary). It’s a great way to ensure that your life insurance is not considered to be a part of your estate when you die, so beneficiaries won’t face the burden of inheritance tax on your life policy. For joint life policies, both of you must agree to place your policy in trust.

How do Trusts work?
Setting up a trust means that you (the settlor) give your policy to the trustees who then legally own your policy and look after it for the benefit of your beneficiaries. You will still be responsible for paying the insurance premiums, but the trustees will be responsible for keeping the trust deed and any other documents safe. They make the claim on your policy and ensure that the money goes to your beneficiaries as you intended. Trusts are flexible, which means you have control over who will benefit from your plan, as well as who’ll be responsible for making sure this happens. You can also make sure you’ll receive any benefits that you want to keep for yourself, for example any payment following a critical illness claim.

Why is setting up a Trust important?
If a policy is not placed into trust, the policy proceeds may not go to the people who you want to receive it. Without a trust, for a joint policy, the policy proceeds will automatically be paid to the survivor. However, for a single life policy not placed in Trust, there could be a delay before your spouse receives the policy money. This is because if your policy is not in Trust your personal representatives will need to obtain Probate before they can deal with your plan. This process can take a long time. Sometimes several months. Putting your plan in trust can avoid this delay. Worst case could be if you are not married, and have not made a will, your partner may not be legally entitled to the policy proceeds at all unless placed in Trust.

Speak to you adviser today about putting your protection plan in Trust.

First Time Buyer Advice

Are you a First Time Buyer with any questions or issues? Perhaps you’re daunted by the sheer size of the task facing you as a prospective new home owner. Worry not! We have a video that will answer the most common questions you may have.

Help to Buy

From 1 April 2021, Help to Buy (HTB) in England and London is changing. The current scheme offers home movers and first-time buyers the chance to purchase a property up to £600k with a 5% deposit, and an additional Government-backed loan of up to 20%, interest free for five years. 

The new scheme is open to first time buyers only and there’ll be regional house purchase price caps. This means the Help to Buy loan amount a customer can borrow will depend on the area they live in. Joint applications for the scheme must both be first time buyers. This will impact all HTB mortgages completing from 1 April 2021. 

We will start to take applications for the new HTB scheme from 16 December, which is when the new eligibility rules are introduced. 

How does it work?

Help to Buy: Equity Loan (2021-2023)

If you’re a first-time buyer in England, you can apply for a Help to Buy: Equity Loan.

This is a loan from the government that you put towards the cost of buying a newly built home.

You can borrow a minimum of 5% and up to a maximum of 20% (40% in London) of the full purchase price of a new-build home.

You must buy your home from a homebuilder registered for Help to Buy: Equity Loan.

The amount you pay for a home depends on where in England you buy it.

Help to Buy: Equity Loan price caps – April 2021 to March 2023

Region Maximum property
North East £186,100
North West £224,400
Yorkshire and
the Humber
East Midlands £261,900
West Midlands £255,600
East of England £407,400
London £600,000
South East £437,600
South West £349,000


The equity loan, the deposit you have saved, and your repayment mortgage cover the total cost of buying your newly built home.

The percentage you borrow is based on the market value of your home when you buy it.

You do not pay interest on the equity loan for the first 5 years. You start to pay interest in year 6, on the equity loan amount you borrowed.

The equity loan payments are interest only, so you do not reduce the amount you owe.

You can repay all or part of your equity loan at any time. A part payment must be at least 10% of what your home is worth at the time of repayment.