Business
Don’t panic-pay mortgages amidst economic uncertainty, financial expert warns

A FINANCIAL expert is advising homeowners in Wales against hasty mortgage overpayment decisions in the wake of recent research findings.
A survey by insurance broker, Lycetts, revealed that 74% of homeowners in the country would be more likely to pay off more of their mortgages in the current economic climate, than save or invest.
Chris Booth, Head of Lycetts Financial Services, said it is vital to consider the broader financial landscape before making what can prove a significant commitment.
“The high inflation and interest rates of recent months have affected mortgage costs, causing concern for many homeowners. This has tempted many to react impulsively and make panic-driven decisions.
“However, forecasts now suggest inflation may have peaked, indicating a potential decline in interest rates in the future.
“Additionally, with the UK technically in a recession, there is likely to be pressure on policymakers to keep interest rates stable or even lower them to support economic recovery.
“One of the key arguments against rushing to make larger mortgage payments and becoming mortgage-free is the loss of financial flexibility. Liquid assets, such as savings, pensions, or ISAs, offer individuals the freedom to adapt to unexpected circumstances or pursue other financial goals. In contrast, tying up all resources in a property can limit options and make it challenging to access funds quickly if needed.”
He emphasised the importance of taking a holistic approach to financial planning, considering factors such as retirement age, mortgage duration and future interest rate trends.
“A balanced strategy that accounts for both short-term needs and long-term financial security is called for.
“When it comes to choosing between savings and investment, individuals should look at prioritising tax-efficient options like ISAs, while also considering the benefits of pension contributions for long-term financial stability.”
He urged homeowners not to succumb to fear or uncertainty but instead to seek guidance from financial advisors to navigate these complex decisions.
“While paying off a mortgage may seem like a prudent move, it’s essential to weigh-up all options and consider the long-term implications. Maintaining financial flexibility and taking advantage of tax-efficient savings vehicles are critical steps towards achieving financial resilience and independence in turbulent times.”
Business
Major housing development plans submitted for Broad Haven

PLANS for a development of 76 homes in a Pembrokeshire seaside village have formally been submitted to the national park.
In an application to Pembrokeshire Coast National Park, Millbay Homes, through agent Asbri Planning, seeks permission for the development of 76 homes and associated works on land East of Marine Parade, Broad Haven, near Haverfordwest.
The proposal seeks to build 10 one-bed properties; 20 two-bed, 32 three-bed, 10 four-bed, and four five-bed properties, with Millbay Homes have been liaising with the authority`s housing department about the requirement for affordable housing at the site, the authority favouring a rate of some 34 per cent affordable.
The site itself is allocated for up to 87 residential dwellings.
The applicants say the scheme will “lead to the creation of a high-quality and attractive place to live and will contribute to creating a distinct sense of place”.
A supporting statement adds: “Rather than imposing a rigid, flat layout, the homes are arranged to follow the natural contours of the land, stepping up and down in response to the site’s slopes.
“This approach minimizes the need for extensive excavation and preserves much of the natural landscape. It also ensures that each home has a unique relationship with its surroundings, with most properties benefiting from stunning sea views due to their elevated positions.
“By embracing the site’s topography, the development not only minimises its environmental impact but also creates a visually appealing and varied streetscape that feels integrated into the natural landscape rather than imposed upon it.”

The scheme has been subject to revisions following discussions with planners, moving from an initial increase from 62 to 77 homes, now dropped to 76 to provide an ‘informal open space’ “designed to meet the planners’ request and to offer a communal area where residents can enjoy outdoor activities and relaxation in a natural setting”.
The formal pre-application consultation ran up to late January of this year.
The statement stresses: “The proposed residential housing scheme represents a carefully considered response to the village’s architectural heritage, challenging topography, and coastal environment.
“Through a thoughtful, collaborative design process, incorporating comments and feedback from the planning officers and public, the development will create a vibrant, sustainable community that offers diverse housing options, maximises sea views, and integrates seamlessly with its surroundings.”
The application concludes: “The ambition for the site is to create a contemporary development of liveable, affordable homes within Broad Haven which takes advantage of the site’s seaside location, in accordance with the council’s housing allocation within the Local Development Plan.
“In light of the above, it is concluded that the proposal fully accords with both national and local policies and there are no material considerations which should prevent the planning application from being determined in accordance with the relevant planning policy framework.”
The application will be considered by national park planners at a later date.
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.
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