Why Mortgage Protection Shouldn’t Be Overlooked: Findings from the 9th Annual HomeOwner Survey

As homeowners across the UK navigate rising costs, changing housing markets and inflationary pressures, the latest HomeOwner Survey, conducted by HomeOwners Alliance in partnership with LifeSearch and others, shows that many households could be leaving themselves financially exposed.

Below are some of the headline statistics and insights from the Life Insurance/Mortgage Protection section of the survey (pages 32–41), plus key takeaways for homeowners and what you can do to safeguard your home and family.

Key Findings on Mortgage Protection

The 2025 HomeOwner Survey reveals some important insights

• 3 million UK mortgage holders have no financial safety net.
• Over a third (36%) of mortgage holders have no life insurance, income protection or critical illness cover.
• There is a gender gap: women with a mortgage are less likely than men to have protection cover - 55% of women vs 62% of men report having some form of cover.
• Almost half (46%) of UK mortgage holders say they would struggle to keep up with their mortgage payments within 6 months of losing their income.
• More alarmingly, 21% say they’d face difficulties within just 2 months.

Other important findings include:

• While awareness of protection types is relatively high (life, income, critical illness), knowing “a lot” about them is much less common, especially among younger mortgage holders and women.
• When faced with loss of income, mortgage holders’ fallback plans vary - many would cut non-essential spending, or apply for a mortgage payment holiday; some would sell assets or seek help from family.

What Homeowners Can Do

Given that many know of protection options but fewer understand them well, there’s a need for clearer, more accessible information. Based on the survey’s insights and LifeSearch’s mission, here are practical steps:

• Review current protection: If you have life insurance, income protection or critical illness cover, check whether the sums insured are enough, whether the policy terms are appropriate and whether there are any gaps.
• Get expert advice: A protection adviser or specialist can explain your options clearly. Many mortgage holders in the survey said they hadn’t spoken to one.
• Consider income protection: Beyond life cover, income protection can be particularly critical (if you can’t work due to illness or injury) - something many are underinsured for.
• Plan ahead: Think worst case scenarios - how long could you continue paying the mortgage if your income stopped today? If the answer is less than six months (or two, for some), that indicates a vulnerability.

LifeSearch’s CEO, Debbie Kennedy, reflected on the findings, stressing the importance of protection in today’s uncertain climate: “As financial vulnerability has heightened in recent years, this year’s survey highlights just how vital it is for homeowners to protect themselves against financial fallout. The right protection can make all the difference between keeping a roof over your head and facing financial hardship. That’s why working with HomeOwners Alliance to raise awareness of the challenges facing millions of people across the country has been so important.”

Building Financial Security Together

The full HomeOwner Report, which you can find here, makes one thing clear: too many households are just a few months away from financial difficulty if the unexpected happens. Mortgage protection isn’t just a policy, it’s peace of mind and a safeguard for your family’s future. Speak to one of our advisers today to explore your options and find cover that works for you.

Methodology

To ensure clarity about how these results were reached, the survey was conducted online by Opinium in partnership with LifeSearch, the Federation of Master Builders, and HomeOwners Alliance. A total of 2,000 UK adults participated, including 1,269 homeowners and 731 non-homeowners, of whom 474 aspire to own a home. Among the homeowners, 521 were mortgage holders. The data has been weighted to be representative of all UK adults aged 18 and over, and the fieldwork was carried out between 1^st and 5^th April 2025.