Extra hours to pay the mortgage?

Putting in extra hours at work to pay the mortgage

In the face of rising bills, most advice to consumers tends to be focused on cutting costs and reducing outgoings. A new study1 has shown that a growing number of homeowners are thinking about the opposite end of the scale: boosting their income.

Financial resilience 

Some three in 10 homeowners said that they are picking up extra work to boost their savings ahead of their mortgage repayments increasing. 

Putting in more hours might not be possible for everyone but those with the option are increasingly making use of overtime or seeking new employment opportunities in order to create a financial buffer. 

Protection at the forefront 

Whether or not working more is an option, protection remains a crucial safety net. 

Even for those doing extra hours, the peace of mind that protection provides means that you and your loved ones will not face the worst consequences should you be unable to work. 

1Indeed Flex, 2023 

It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.