Living costs leading to decline in mortgage protection: Metlife

The data showed 75% of advisers said clients are now more concerned with mortgage protection than they were 12 months ago.

Of those asked, 22% of advisers described clients as “much more concerned” and 53% as “slightly more concerned”. On the other hand, 18% of advisers reported no change among their clients.

Phil Jeynes, head of individual protection, MetLife UK, said: “Our research highlights a worrying contradiction: people are increasingly aware of the need for protection, but some are having to make difficult choices as budgets remain under pressure.”

The research showed that 52% of advisers reported to a “slight” increase in clients cancelling policies or reducing their level of protection, with 25% reporting a “significant” increase.

No change in clients’ attitudes was reported by 16% of respondents.

Jeynes said: “Advisers play such an important role in helping customers understand the value of cover and make decisions that are right for their circumstances.”

Awareness, sales and compliance are critical challenges around advising mortgages and protection, with established advisers still holding misconceptions and concerns regarding compliance when pairing the two products.

From the study conducted, 43% of advisers said clients often intend to take out mortgage protection but then fail to do so.

Earlier this year, the Exeter’s Consumer Health and Finance Tracker found that 19% of UK consumers felt ‘very confident’ in their family’s financial resilience, decreasing from 22% in 2025. The survey also showed families are growing increasingly less confident in their financial situation as the cost-of-living rises.