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7m Homeowners in the UK Yet to Make a Will

Posted by Kings Court Trust | 11-Jul-2013 09:00:00

Seven million homeowners in the country do not have a Will, so could be exposing their families to substantial financial risk, says a report by Oportfolio.

The mortgage broker estimates that the number of people who have made a Will has declined by 4% since 2009.  Currently just 35% of homeowners have one, despite the fact that the document is an important consideration when becoming a homeowner.

People failing to write a Will run the risk of leaving their family members without a home.  It could create additional pressure and troubles for their loved ones as they may be unable to make regular payments on the mortgage, according to the broker.  Oportfolio's Managing Director Oliver Whitehead commented that UK homeowners need "a wakeup call" to take action when it comes to making a Will.

Nowadays, Wills are quite easy to make and can be drawn up together with a specialist at a relatively low price.  Last year research from unbiased.co.uk showed that, overall, 58% of adults living in the UK still do not have a Will.  Homeowners or people planning to get a mortgage who are yet to write a Will are urged to take steps to change this promptly.

Want a recommendation? We would be happy to recommend a specialist Will writer in your area so please feel free to contact us.

Author: Kings Court Trust

Kings Court Trust is an award-winning probate and estate administration provider that support families at the difficult time of losing a loved one. Our tax and legal teams have the expertise to advise on any situation. We are committed to offering families a great service for a fair price which is why we work on a fixed fee basis so they know exactly what our service will cost from the outset.

Topics: Will Writing, Blog, Estate Planning, Wills