Justanupdate Monday9thSeptember
Thisweek'sheadlines:
Social Media and Mental Health : When is it time to power down?
Social media is now a part of almost everyone’s life. It has become a space in which we form and build relationships, shape self-identity, express ourselves, and learn about the world around us. Whilst social media has flooded nearly every aspect of the mainstream, we are only just beginning to take stock of the extent to which it impacts our lives. With growing consideration being given to the importance of mental health and wellbeing , there has never been a more appropriate time to talk about the relationship of social media and mental health.
As human beings we are social creatures, we need the companionship of others to thrive in life, and the strength of our connections has a huge impact on our mental health and happiness. Being socially connected can be positive to our mental health, it can ease stress, anxiety, depression, boost self-worth, provide comfort, joy and prevent loneliness.
However, there might be times when it could negatively impact your mental health, for example, when you find yourself:
Comparing yourself to others - Spending time on online communities and social media sites can mean that you end up comparing yourself to others. This can negatively impact your self-esteem and how you view your life. On social media sites, we very often only see what other people want to share about their lives. This can make us think we're the only ones feeling the way that we do. It's important to remind yourself that you don't know how other people feel when they're alone. Or when their social media feeds are turned off.
Feeling anxious, stressed or depressed - You might feel pressure to constantly check your social media accounts and respond to messages and notifications. This can cause feelings of anxiety and stress. Regularly reading news and information sites during negative world events can also lead to poor wellbeing. This is sometimes called 'doomscrolling'
Having difficulty sleeping - For some of us, spending lots of time at night checking social media and other online sites disrupts our sleeping patterns.
Feeling lonely - Some people find using online communities and social media a lonely experience. It doesn't give them the same feeling of connection as offline support. We might also feel lonely when we see photos or videos online of other people socialising at events or with friends and family.
Seeing triggering content - We have access to a lot of information at all times online. Sometimes it can be difficult to protect ourselves from certain types of content that can be triggering to us, or dangerous. This includes content that encourages or promotes self-harm and suicide. Or content that might remind us of something we've gone through that it is painful to relive.
Feeling overwhelmed - Being a friend to other people online or connecting with others going through a similar situation to you can feel positive. But caring for someone who's going through a difficult time can also be very stressful and overwhelming. It could affect your own wellbeing.
If you find any of the above happening, it might be a good idea to ‘power down’ and take a break.
There are ways you can look after your mental health online and have a healthy relationship with social media. You can do this by…
Setting aside some time regularly to do something offline. This could be reading a book, doing some physical activity, being outdoors in nature or trying out a relaxation technique.
Protecting time in your day to eat healthily and get good sleep. Some studies suggest reducing your time on your phone before bed. This can give you time to unwind before sleeping, and it can improve the quality of your sleep.
Spending time offline with people in your life, such as friends and family.
Seeking offline support. If you're seeking support online, sometimes this won't be enough. If you're feeling unwell, and being online isn't helpful, it may be a good idea to seek offline support.
Checking in with yourself regularly about how you're feeling when you're online. If being online is starting to have a negative impact on your mental health, you may need to take a break.
Your Individual Assistance Programme
Don’t forget you also have your Individual Assistance Programme, they offer support for you and your immediate family members*, 24 hours a day, 7 days a week, 365 days a year by calling 0800 917 6470.
*Health Assured define immediate family members as spouse/partners and children aged 16 to 24 in full-time education, living in the same household.
eConveyancer instructions hit 2000+!
Our strategic partnership with eConveyancer reached a new landmark this month, hitting 2000+ instructions since the start of 2024!
eConveyancer’s Digital Move software is PROVEN to move your clients in quicker, with less hassle and more control to you as the Mortgage Broker.
For your Remortgage clients, eConveyancer matches the cashback provided by the lender to the standard legal fees that your customer will need to remortgage their property!
eConveyancer have put together a very useful customer Journey Pack that can be sent to customers to explain the conveyancing journey and help with much of the “jargon” used – click HERE to view and download
Skipton Makes “Track Record” Changes
The new Track Record Mortgage policy enhancements, which started on the 3rd September include:
Maximum mortgage term increase from 35 to 40 years. Now available on New Build flats.
Now acceptable in conjunction with a Shared Ownership mortgage.
New flexible underwriting approach to the “household to household” criteria, where policy allows, meaning we may accept applicants without rental experience as long as an accompanying applicant meets all eligibility criteria.
Relaxed rent to monthly mortgage payment criteria - After 1 year of helping renters into their homes Skipton has made various improvements to the way it calculates affordability which should help more customers step up on to the property ladder. This means in some circumstances Skipton will lend loans which have monthly payments up to 120% of the rent the customer is currently paying.
Principality provides an income boost for First Time Buyers
As a response to first time buyers need for an income boost and broker feedback on ways to improve affordability, Principality Intermediaries has launched a new higher loan-to-income for firsttime buyers.
Limited Edition: First-time buyer loan-to-income overview: Exclusive to brokers Up to 5.5x LTI*
Available for standard five-year fixed rate residential products Employed income only.
Applicants must have an income of £30,000 individually or £50,000 combined.
100% 2nd income and overtime accepted. Available for FTBs only.
*Subject to affordability checks.
Helen Lewis, National Intermediary Manager, at Principality Building Society, said: “Our first-time buyer research shows us that this is a diverse group and can be at different stages in their life, have different levels of family support and differing degrees of financial confidence. This enhanced loan-to -income is one of a wide range of solutions we will be showcasing over the next 3 months that aim to provide a boost for first-time buyers.”
For more information get in touch with your local BDM or contact our broker support team on 0330 333 4021. Alternatively visit HERE
Accord improves its New Build Affordability
Accord has enhanced its affordability assessment to:
Reduce the minimum household income threshold for lending above 4.49x LTI (up to 5x LTI) to £50,000 (from £60,000), for LTVs up to 90%.
Increase its new build LTV to 90% (from 85%) for above 4.49x LTI (up to 5x LTI) where the household income is £50,000 and above. Increase its new build LTV to 90% (from 85%) for Boost LTI where the household income is £60,000 and above.
How does it work?
The good news is you don’t need to do anything differently. Simply visit the Accord website here and use the online calculators or submit your DIP as normal - MSO will do the rest.
What else do you need to know?
Standard Lending policy and affordability must be met The minimum income threshold for Boost LTI will remain at £60,000
Not available for applications using the New Build Deposit Unlock scheme
You can view Accord’s new
Transaction Type
(joint or sole basis)
(joint or sole basis) Standard Purchase and Remortgage up to 90% LTV