Russell’s view – April 2026

At times, it seemed like this winter was going to last forever, but Spring is here at last.

As well as warmer weather and lighter nights, this time of year often brings a desire to move house.

Spring: the season of new homes and fresh starts

Spring is traditionally the season where the housing market ramps up and, notwithstanding the impact of recent geopolitical upheavals, this year looks set to be no exception.

For many of us, buying a home is the biggest financial commitment we will make in our lives.

It is a major life event, but too often the temptation is to treat a house purchase as a stand-alone occasion rather than part of an overall financial life plan.

The emotional trap of house hunting

The other danger which we face is that we get emotionally involved in the process.

We really, REALLY want that house.

It’s got everything we could want and we’re already picturing ourselves living there.

When you get wrapped up in a house buying journey, it’s all too easy to disregard everything else in the pursuit of your dream home.

The value of financial advice in your home buying journey

This is where working with financial adviser is worth its weight in gold.

Your financial adviser will sit down with you and put together a comprehensive financial plan:

• not only for buying your house, but also for continuing to live in it
• not only for paying the mortgage, but also for what happens when it’s yours outright
• not only for providing a home for your family, but also for providing for them when you’re no longer around

The three things home buyers often forget

A properly thought through and well-executed plan will help you to address the three crucial aspects of house buying which most people forget:

1. Home buyers often underestimate their own longevity

You don’t want to pay so much for your house that you’re left with very little to live on in retirement.

In an age of 30-year and even 35-year mortgages when the average age of a first-time buyer in the UK is 34, you could well end up still paying for your home when you’re past State pension age.

Factoring this into your calculations when weighing up the purchase of a home is something which many people neglect to do.

Planning to repay your mortgage before retirement is important.

Financial advisers can help with this, by supporting your plan from day one and throughout the term of the mortgage, potentially saving £1,000s in interest and supporting plans for saving.

2. Home buyers often underestimate the debt

The purchase of a home is the biggest debt you are likely to take on in your life.

Advisers have a duty to ensure you can cope with that debt and that your family won’t have to face taking on that debt should the worst happen.

3. Home buyers often overestimate their health and job security

Part of your plan should be to protect your home and your family income.

If you get ill, sick pay is a lot less generous than most people think it is.

With the global economy far from predictable, unemployment is a fact of life these days.

How will you keep up your mortgage payments if you are made redundant?

Your financial adviser will help you to tackle all three of these issues – and plenty more besides.

Why financial planning doesn’t stop at the purchase

For example, by working with fellow professionals such as mortgage advisers (which we also have at Fairstone), they can help you get the best deal on the loan for your property.

And a few years down the line, they can do the same again to ensure your remortgage keeps you on a sound financial footing.

They can also review your protection policies as life events such as the birth of a child happen, to make sure these products are always appropriate for you and your families’ needs.

Planning for family, retirement, and the future

Importantly, a financial adviser will keep the other parts of your plan on track, rather than just give you a good mortgage deal.

So they will help you with things like saving for your children or grandchildren, paying for school or university fees, investing for your retirement and planning your estate.

These financial events very often overlap with your home buying journey so someone who knows how it all fits together – and can show you how with the use of tools like cashflow modelling – could prove invaluable.

And they are always there as a voice of calm reassurance and wise counsel when you’re unsure if you’re doing the right thing with your finances.

It’s not Location, Location, Location – it’s Plan, Plan, Plan

To borrow the title of a well-known TV programme, most people think buying a home is all about location, location, location.

In reality, it’s all about plan, plan, plan.

Buying a house isn’t just a transaction, it’s a key part of your financial life.

Wouldn’t it be much more of a home, sweet home if you knew it was part of your comprehensive financial plan?

A home of good advice

Fairstone is home to a wide range of financial advisers, mortgage advisers and financial planning experts, ready to help you out on everything from property purchases to planning your retirement.

Get in touch with a Fairstone adviser to find out more.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Disclaimer: This article is for informational purposes only and does not constitute financial, tax, or legal advice. Tax treatment depends on individual circumstances and may change. The value of investments can go down as well as up and you may not get back the full amount you invested. Past performance is also not a reliable indicator of future performance. Always seek professional advice before making financial decisions.