7m Homeowners in the UK Yet to Make a Will

Categories Blog, Estate Planning, Will Writing, Wills

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 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.

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