Residential Mortgages
Access the whole of the UK's panel of lenders. We align you to the best product for your individual circumstances.
How do you treat your insurance renewal email? It could be costing you more than you think, in some cases, twice over. Here’s what’s really going on, and why five minutes of checking now could save you a lot more than money down the line.
The FCA’s 2020 market study found that home insurance customers who stuck with the same provider for over five years were paying £287 a year on average, compared with just £165 for new customers buying identical cover. That’s a markup of more than 40%. Since January 2022, insurers have been required to offer renewing customers a price no higher than that charged to new customers for the same risk. But research shows that since the reform, switching still saves UK homeowners £80–£200 a year on average.
We’ve pooled together some common questions to help you get the best insurance and cost for your needs:
Q: How many people do shop around?
Not many. Consumer Intelligence data shows only around 35% of home insurance policyholders switched provider in the first three quarters of 2025. The other roughly two-thirds just let the renewal go through.
Q: Is it worth the hassle?
Yes, because you might be underinsured. It’s when the figure used to calculate what your insurer will pay out no longer matches what it would cost to rebuild your home or replace your belongings. UK construction costs have risen by almost 40% over the past six years, but most people haven’t kept pace. Which? found that only 45% of homeowners had checked or updated their rebuild cost figure in the past two years, and 18% admitted they’d never reviewed it at all.
Q: How would this affect my claim?
If your home is insured for less than its true rebuild cost, most insurers won’t just refuse to cover the shortfall on a total loss. They’ll proportionally reduce any claim you make, even a small one. Insure your home at 80% of its real rebuild value, and a straightforward £10,000 claim could be cut down to £8,000 automatically, regardless of how minor the damage was. One industry estimate suggests around 76% of UK buildings are underinsured, by an average shortfall of 37%.
Q: Should I check my contents insurance as well, or is it just buildings?
Both. Contents policies are usually “new for old,” which means your sum insured needs to rise in line with what you’ve accumulated. Like the new furniture, the new TV, or the bike you bought last spring. Auto-renewal just rolls over whatever figure was on the policy last year, regardless of whether it still reflects reality.
Q: What should I do about it?
Don’t let the renewal sail through unchecked. Most insurers are required to give at least 21 days’ notice before renewal. Use that window to compare the market on price and double-check that your buildings and contents sums insured genuinely reflect today’s rebuild and replacement costs, not whatever figure was carried over from years ago.
Here’s our question for you: When did you last check your home insurance?
We’ll review your cover, compare the market, and make sure your sums insured reflect what your home and belongings are worth today. No cost, no obligation. Peace of mind knowing you’re properly covered and not overpaying for it. Get in touch today to make sure your insurance, and its price, is up to date.
Ready to Find Your Perfect Mortgage?
Arrange a free no-obligation consultation with our expert mortgage advisors. We’ll search the whole of market to find the best deal for your circumstances.
Rated 5/5 Stars from 80+ Reviews
Simple, Straightforward Process
We make the complete mortgage process as seamless and trouble-free as possible.
Frequently Asked Questions
Common Questions, Straight Answers
Can’t find what you’re looking for? Get in touch and we’ll be happy to help.
Call us on 01484 817224
Put simply, the more deposit you have, the better, as a higher deposit will generally attract a lower mortgage rate. But, because mortgage products change all the time, do give us a call, as the percentage deposit you need will vary.
Mortgage lenders will have a maximum LTV (loan to value) that they’re prepared to offer you. For example, if you’re looking at a property with a value of £250,000 and the lender offers you £212,500, this means your LTV is 85%, so your deposit would be £37,500 which equates to 15%.
When buying a property, or re-mortgaging, rather than take your word for it, the lender will need a valuation of your intended property purchase, to ensure that what you’re asking to borrow, coincides with the property’s value. In fact, they’ll insist upon it.
It’s well worth investing in a survey too. This will tell you about the general condition of the property. If you’re investing in a property that’s older, or in a general state of disrepair, it would be well worth investing a little extra in a structural survey.
When saving for your deposit, don’t forget to save extra for things like solicitor fees, surveys, stamp duty, home insurance, removal costs, mortgage arrangement fees, etc.
To assess whether or not you can afford a mortgage, lenders will look in detail at things like your salary, any other income you receive. Plus, they will also need to know about any other outgoings such as car loans, credit card debt, personal loans, utility bills, childcare, general living costs. All this is taken into consideration when applying for a mortgage.
Also, be aware that lenders will look at your credit score too. They need to be confident that you can pay back your mortgage and that you pay back any other credit, essentially to make sure that you are a reliable borrower.
We’ve been in the property industry for a number of years now and as such, only work with trusted partners, such as conveyancing solicitors, etc. So if you need help, then do not hesitate to ask and we will put you in touch.
Comparison sites serve their purpose, but, because they don’t have access to the whole of market, the results you will see will be limited. Comparison sites will only show the results of the lenders who have paid to advertise on their site.
At Steeples Mortgages, we’re more than happy to chat things through with you, we much prefer the personal touch, be that by telephone, Zoom or in person.
Mortgage Solutions for Every Situation
No matter where you are on your property journey, we have the expertise to find the right deal for you.
Buy To Let
Whether you're building a property portfolio or investing for the first time, we find the right deal for you.
Equity Release
Available to those aged 55+, unlock the cash tied up in your home with expert guidance from Equity Release Council members.
Protection
Life insurance, critical illness cover, income protection, and home insurance — keeping your family properly protected.
5-Star Rated
Trusted Mortgages Advice, Built on Recommendations
Steeples Mortgages is a trusted and respected independent mortgage and financial solutions business based from our high-street office in Brighouse, West Yorkshire. We’ve built our reputation on friendly, client-focused, transparent advice.
As a member of The Equity Release Council and certified in Mortgage Advice and Practice, Steeples Mortgages is all about doing the right thing. We want each and every client to be a lifelong client and as such, we provide the very best customer service, coupled with the most suitable advice all underpinned by honesty, integrity and trust.
Request Call Back
Meet The People Behind Steeples
A dedicated team committed to giving you the best mortgage and protection advice.
Aaron Steeples
Founder & Managing Director
Founded Steeples Mortgages in 2017. Two decades in finance with a client-first approach built on honest, transparent advice.
Kylie Waite
Client Completion & Office Manager
Oversees every client’s journey from application to completion, ensuring a smooth and stress-free experience.
Duncan Schofield
Mortgage & Protection Advisor
40 years in financial services. Specialist knowledge with self-employed clients and complex mortgage cases.
Adnan Ahmed
Mortgage & Protection Advisor
Dedicated to helping clients find the right products with clarity and care, from first-time buyers to remortgages.
Cheryl Whitehead
Mortgage Administrator
Cheryl has been working in the mortgage industry for over three years now and has built up valuable experience.