Business
The influence of climate change on home insurance and mortgage decisions

CLIMATE change is undeniably altering the landscape of home insurance and mortgage decisions and, as risks increase, both industries are adapting, leading to higher costs and a stricter criterion for homeowners.
Pete Mugleston, MD and Mortgage Expert at www.onlinemortgageadvisor.co.uk, discusses how these shifts are impacting decisions around home insurance and mortgages.
Climate change isn’t just changing our weather patterns, it’s shaking up the housing market, especially when it comes to home insurance and mortgage decisions. With the UK facing increasing risks from floods, storms and coastal erosion, homeowners and financial organisations are rethinking their strategies.
Flooding has become a significant concern across the UK with more frequent and severe storms rendering areas once considered safe, at risk. This shift has substantial implications for home insurance. According to the Environment Agency, approximately 5.2 million properties in England are at risk of flooding*. This number is expected to grow making it increasingly difficult for homeowners in these areas to find affordable insurance. For those already living in flood-prone zones, this can result in a significant rise in insurance costs, sometimes making their homes uninsurable through traditional means.
For homeowners in high-risk areas, insurance premiums are skyrocketing. Insurers are setting stricter terms and conditions often requiring homeowners to implement flood defences for coverage. Some insurers are creating exclusion zones where they simply won’t provide coverage at all. This trend is particularly noticeable in coastal areas experiencing significant erosion and increased storm activity. To address this gap, specialised insurance policies are emerging. These policies, often more expensive, cater specifically to homes in high-risk areas, offering coverage traditional insurers might decline.
Lenders are also becoming more cautious about approving mortgages for properties in high-risk areas. If a home is uninsurable its value drops, making it a risky investment for lenders. As a result, lenders are scrutinising flood risk assessments more closely and may require proof of insurance before approving a mortgage. In some cases, they may refuse to lend altogether.
Properties in high-risk areas may see decreased valuations, which can affect the loan-to-value ratio making it harder for buyers to secure favourable mortgage terms. On the other hand, areas deemed low risk are seeing increased demand driving up property prices. Buyers and lenders alike are prioritising these safer investments, sometimes at the expense of affordability.
As climate change progresses, these trends are likely to intensify. Both insurers and lenders are investing in better predictive models to accurately assess climate risks. Homebuyers and homeowners need to stay informed about these risks and incorporate them into their long-term planning and keep up to date with the latest climate risk assessments, understanding how they might affect the area is crucial. It’s also important that homebuyers and homeowners acknowledge the ease that implementing certain flood defences and other protective measures may offer when trying to obtain insurance and a mortgage. Finally, considering the long-term feasibility of staying in a high-risk area is vital as, in some cases, relocating to a lower-risk area might be the most beneficial financial decision.
Business
Help to Buy Wales extended – new homes in Haverfordwest available through scheme

THE WELSH GOVERNMENT has extended the Help to Buy – Wales scheme until September 2026, offering new opportunities for buyers to secure a property at the Augustus Grange development in Haverfordwest with financial assistance.
The scheme enables eligible buyers to purchase a new-build home valued up to £300,000 with just a five per cent deposit. The remaining amount is covered by a 75 per cent mortgage and a 20 per cent shared equity loan, which is interest-free for the first five years.
Five-star housebuilder Lovell Homes, which is delivering the development in partnership with Pobl Group, is encouraging potential buyers to explore the scheme’s benefits. Located off St David’s Road, Augustus Grange comprises 115 two and three-bedroom homes and lies just six miles from the Pembrokeshire Coast National Park.
Unlike some support schemes, Help to Buy – Wales is open not only to first-time buyers but also to existing homeowners looking to move.
A number of three-bedroom properties are currently available at the site, including the popular Lambourne and Lansdown designs.
Suzie Hewitt, regional sales director at Lovell Homes, said: “Help to Buy – Wales is a brilliant initiative and we’re delighted that it has been extended to 2026. For many, buying a home is the biggest financial step they’ll take, and this scheme makes that step more accessible.
“We’re offering a range of high-quality homes under £300,000 at Augustus Grange – perfect for first-time buyers, growing families, and those looking to rightsize. We encourage anyone interested to contact our sales team.”
Haverfordwest, the historic county town of Pembrokeshire, offers a mix of heritage and modern amenities. With its 12th-century castle, riverside walks along the Western Cleddau, a selection of shops and restaurants, and good transport links, it’s an attractive location for both families and commuters.
The Augustus Grange marketing suite is open daily from 10:00am to 5:00pm. For further information, visit newhomes.lovell.co.uk/developments/augustus-grange-haverfordwest or call 01437 468024.
Terms and conditions apply. Full details on the Help to Buy – Wales scheme can be found at lovell.co.uk/offers/help-to-buy-wales.
Lovell Homes recently received a Gold award for customer service from In-house Research, with 93.6 per cent of South Wales and West customers saying they would recommend the company to friends and family.
Follow Lovell Homes:
- Facebook: facebook.com/lovellhomes
- Instagram: @lovell_homes
- LinkedIn: @LovellPartnershipsLtd
Business
Big changes made to major Cosheston solar farm development

AMENDMENTS to a previously granted scheme for a south Pembrokeshire solar farm by using higher specification panels which would actually see less land covered have been approved by county planners.
Last year, plans for a nine-megawatt solar farm at West Farm, Cosheston, near Pembroke Dock by James Wallwork of One Planet Developments Limited were approved by Pembrokeshire County Council.
The applicants said the scheme would generate enough power for 2,500 homes.
The scheme was initially recommended for refusal before a later recommendation for approval at last March’s planning committee; the scheme supported by Cosheston Community Council, which said the plans would be a natural rounding-off of the site, with no detrimental impact as it would neighbour the existing solar farm.
A supporting statement, through agent Mango Planning & Development Ltd, said: “The proposed development would contribute circa 9,337,000 KWh of renewable electricity to the local area, which will typically produce enough green electricity a year to power about 2,500 homes.
“The proposed development is for a temporary 40-year timescale and will be fully reinstated at the end of its operational life. There will be no loss of agricultural land.”
After last year’s approval, the applicants had asked for a change of planning conditions.
A supporting statement accompanying the amendment request says: “Subsequent to the grant of consent, the applicant has been advised that the solar panels originally proposed are no longer available. It is necessary, therefore, to substitute these with an alternative type.”
It says the proposed alternative panels would be slightly larger in size but “as a consequence of the improved specification of the proposed panels, a reduced site coverage is required to achieve the originally agreed output,” adding: “In particular, it is not now necessary to provide arrays in the small field at the east of the application site.”
The proposed amendments have been approved by planning officers.
Business
Permission for new Jeffreyston charcuterie business refused

A SCHEME for a rural Pembrokeshire One Planet Development, which would eventually include a charcuterie business using meats from a rare breed ‘flerd’ and a ‘natural health service’ has been turned down by county planners.
In an application to Pembrokeshire County Council, Malcolm and Nichola Blunsden sought permission for the One Planet Development including a three-bed house, polytunnel and a freestanding photovoltaic array at Covert View, some one kilometre from the village of Jeffreyston, near Kilgetty.
A supporting statement through agent Sureline Design Services Ltd said of the applicants: “They have experience of managing this piece of land and are excited to have the opportunity to develop their ideas for an eco-house, rare breed ‘flerd’ [mixture of a flock and herd], a charcuterie business and a ‘natural health service’ that brings local community groups and schools closer to nature.”
Covering a five-year plan, it says the applicants would produce 56 per cent of their own food, with a small vegetable garden and polytunnel as well as a flock of chickens and ducks for eggs and meat, and will also keep geese, sheep, pigs and cattle for meat; the main enterprise on site will sell fresh meat and charcuterie products from the sheep, pigs and cattle.
“In addition to this they will develop a subsidiary enterprise based on community groups and general public visiting the site for educational and therapeutic purposes,” the statement adds.
Detailing the ‘Cleddau Charcuterie’ proposal, it says: “The overall objective is to use traditional rare breeds of Welsh farm animals, raise them in a dynamic ‘flerd’ (mixture of a flock and herd) to create a rich tapestry of diverse meadows in a regenerative ‘mob’ grazed system whilst also building soil carbon.”
It says the meats produced will be slaughtered and butchered locally and then cured in a purpose-built meat curing room, this will be located in one of the existing farm buildings on site.
“Research undertaken by Malcolm suggests a high demand for locally produced fresh meat as well as charcuterie products with known origins and high animal welfare. The nearest producer for charcuterie is currently in Powys.”
An officer report, recommending refusal raised concerns about the robustness of financial figures and realistic possibility of achieving them, with “almost 90 per cent of the projected income would come from a single source, namely meat products production,” adding: “There is no supporting evidence from local schools or groups for a demand for the services offered. It is considered that there is not sufficient certainty to conclude that a significant proportion of the applicants’ food and income needs would be met on the site within five years”.
It also raised concerns about insufficient water resources on the site with a borehole required for drinking water.
The application was refused by planners.
Since the refusal, the application is listed as having an appeal against the decision lodged.
-
Community3 days ago
Warning after suspected drug-related incidents in Haverfordwest
-
Crime12 hours ago
Paddleboarding boss jailed for ten years after deaths of four in river tragedy
-
Charity7 days ago
Businessman ‘honoured’ to become Wales Air Ambulance’s first business ambassador
-
Charity6 days ago
Charity distances itself from viral post as £4,000 theft claim goes viral
-
News3 days ago
Search continues for man overboard from UK yacht in Irish Sea
-
Crime6 days ago
Two men sentenced for vicious crimes against badgers.
-
Crime1 day ago
Guide condemned as ‘arrogant’ after paddleboarding tragedy claims four lives
-
Community6 days ago
West Wales sewage crisis: New calls for accountability amid environmental concerns