Ideal Home

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• Smart lighting - everything you need to know
• What is an offset mortgage and how does it work?
• The Go Compare People's Choice Awards 2022 Home Insurance winners revealed

Smart lighting - everything you need to know Posted: 24 Feb 2022 08:00 AM PST You'll have heard of the best smart lighting and possibly dismissed it as a fad, but it's a remarkably convenient mode of home automation. Once installed, you may wonder how you got by without it. It gives you the ability to turn lights on in a futuristic fashion (that is, by ordering them on). It also allows you to adjust your lighting's brightness and colour to your liking. You can even control them when you're out and about – the ideal deterrent for any would-be intruders and just the thing to bulk our your best home security system. What is smart lighting? Image credit: Philips Hue At its core, the best smart lighting is just a special lightbulb with built-in software. This can connect to and control from a smartphone or voice assistant. ‘Conventional light bulbs work by flipping a switch on and off,’ explains Giuliano Ghidini, UK&I Consumer Commercial Leader at Signify. ‘Sometimes they are hardwired into a dimmer switch, allowing you to dim or brighten the lights. However, this is generally the extent of the functionality of traditional home lighting.’ ‘Smart lighting on the other hand,’ continues Giuliano, ‘gives you far more control over your lights. They are still connected to your home’s mains power, but each smart bulb and LED-integrated fixture allows you to control it wirelessly with your phone, tablet or smart assistant, such as Google Assistant, Amazon Alexa or Apple Home.’ Image credit: Innr Smart lighting is connected in a variety of ways. While some are connected directly via Bluetooth, other smart lighting systems require something called a bridge. This is basically a separate, central hub from which you link lots of lights or bulbs together via Wi-Fi. This in turn is connected to your smart home system. ‘There are simply different ways of connecting your bulbs,’ explains Giuliano. ‘Philips Hue uses a protocol called Zigbee that connects with the Hue bridge. Zigbee bulbs work on a mesh network principle, with each product acting as a repeater. The more products you have connected, the stronger the signal will be.’ ‘With Hue specifically, all new products are both Bluetooth and Bridge compatible – the only differences are the amount of accessories you can have on your system (50 lights and no accessories for Bluetooth, 50 lights and up to 12 accessories for Hue per Bridge), the use of different rooms and the use of additional features such as automation and routines.’ ‘Meanwhile,’ adds Giuliano, ‘Philips Smart LED bulbs with WiZ Connected work over WiFi. They have a Bluetooth functionality to ensure a seamless pairing with the app at the time of installation. No bridge is required for our Philips Smart LED range, and the WiZ platform can support up to 200 smart light points in a home.’ What are the benefits of smart lighting? Image credit: Innr A smart light can produce a vast amount of colours (literally, millions). But smart lighting doesn't stop there. It gives you the option of instantly adjusting the brightness of your living room, bedroom or kitchen lighting, as well as choosing from the specific warmth of the light. It's super convenient too if you have a wide array of lights set up in a room. Instead of having to switch on every single light source in your home each evening, you can program all of your living room lighting ideas to turn on automatically in a single action. There's also the option of scheduling them with specific routines. For example, you can set them to dim gradually as you drift off to sleep and build up in brightness to wake you up gently each morning. Image credit: Twinkly at Lights4Fun The majority of smart lights are LED, too, which uses a lot less energy and lasts a whole lot longer than traditional lightbulbs. ‘Smart LED bulbs last much longer and generate less heat than incandescent or CFL light bulbs, thus using less energy,’ explains Giuliano. ‘LED lighting saves up to 90% energy compared to a traditional bulb,’ he continues. ‘When coupled with controls, lighting can be used as per need. For example, if there is no movement detected by the motion sensor, the lights can be programmed to switch off automatically. With this, users can save money on energy bills, depending on use.’ What types of smart lighting are there? Image credit: Philips Hue You can invest in a single lightbulb, or branch out into a whole load of smart lighting devices. Philips Hue, the first and arguably most established smart lighting brand in the world, has a wide range of smart lighting for the home. These range from from bulbs and pendants to lamps and outdoor lights. They can be paired with special wireless motion sensors so that the light switches on when any movement is detected. ‘You can install smart accessories like dimmer switches to control your lights, suggest Giuliano. ‘You can also link specific smart lights, like Philips Hue or Philips Smart LED with WiZ Connected, to partners like Amazon Alexa, Google Assistant and Apple Home Kit through Bluetooth.’ Smart strip lighting (try Innr or WiZ) is great for lighting architectural details and backlighting shelving, or even zhushing up a teen's bedroom. Nanoleaf goes the decorative route with its art-inspired smart lighting. Wall-hung panels join together to create a striking focal point that is completely controlled via your smartphone. Image credit: Philips Hue Gardens can be lit with a whole host of outdoor lighting ideas, weatherproof smart lights. Choose from uplights and lanterns to handsome exterior wall lights. Come Christmas time, Twinkly's ingenious smart tree lights come in many shapes and sizes. They can even pulse to the beat of any music playing. How difficult is it to set up smart lighting? It’s a pretty straightforward process provided you follow the instructions. As Giuliano explains: ‘Smart lights replace your existing incandescent bulbs. They eliminate the need to rewire your home or hire an electrician to get things going. Simply screw the bulbs into your existing light fittings and connect to WiFi or Bluetooth. Next, install a Hub or Bridge by plugging it into your WiFi router (if required), download the smart app, and enjoy!’ The post Smart lighting - everything you need to know appeared first on Ideal Home.

What is an offset mortgage and how does it work? Posted: 24 Feb 2022 05:00 AM PST Homeowners could benefit from an offset mortgage, where your savings account is linked to your mortgage. One type of home loan that can get overlooked is the offset mortgage, but it can be a great option for many, including those with large saving pots. Since your mortgage is likely to be your biggest monthly outgoing, it's important to get the best value loan in place. It's not just about snapping up the best mortgage rate. There are lots of different types of mortgages available and choosing the right one can be the key to smooth monthly finances. Here we explain how an offset mortgage works and how to tell if it's the right option for you. What is an offset mortgage and how does it work? This is a unique type of home loan, where your savings account is linked to your mortgage and the balance is offset against the debt. Interest is only charged on the difference. So the bigger your savings pot, the more money you save on interest – and the quicker you pay off the loan. Here's an example of how it works. If you had £10,000 in savings and offset it against a £150,000 25-year mortgage at 2.5%, you would save £8,170 in interest and see the mortgage repaid almost a year early, according to L&C Mortgages. Offsetting £20,000 against the same mortgage would save £15,372 in interest and see the mortgage repaid 1 year and 9 months early. Your savings don't pay off any of your mortgage, so you still owe the money, but it will lower the overall cost of your loan. Mark Harris, chief executive of mortgage broker SPF Private Clients, says: ‘Offsets are not as popular as they should be, given the potential benefits. They work well for those with large stable amounts of cash on deposit; you would not be earning much in a savings account so can make your cash work harder by reducing the interest you pay on your mortgage.’ Image credit: Future PLC What's the eligibility criteria for an offset mortgage? A lender will assess affordability in the same way for an offset mortgage as for a regular home loan. When applying, you will be subject to the same affordability criteria and the property the loan is secured against will go through the same checks. The amount you intend to offset in savings won't be factored into affordability calculations by the lender. You will need to prove that you can afford the mortgage and repayments if you had no savings linked to the loan. This way they can avoid borrowers who try to use it as a route to securing a larger mortgage, use our mortgage calculator to see how much you could borrow. Pros of an offset mortgage Essentially, offset mortgages are a good strategy when savings rates are lower than mortgage rates. Borrowers with decent savings can save hundreds of pounds of interest payments every year because the mortgage rate is higher than the savings rate. Another plus is that the mortgage is paid off earlier as you pay less interest. It might only be a year or two as in our example above, but every month you shave off the length of the loan will be a welcome bonus when you get close to being mortgage-free. The more you add to your savings pot, the further you will reduce the mortgage debt that you have to pay interest on. You'll have access to your savings whenever you need it. Having an offset mortgage can also be a tax-efficient use of your savings, particularly for higher and additional-rate taxpayers, who pay more tax on any interest earned in a bank account. They can also be a useful tool for the self-employed who can use an offset mortgage, rather than a self-employed mortgage, to make the most of savings they have put aside for their next tax bill. If you receive a bonus you don't plan to spend or you already have money in a low-interest savings account, then it often makes sense to open an offset account. Cons of an offset mortgage Offset loans are more expensive than standard loans. However, the margin today is much smaller with offsets priced closer to mainstream mortgages. The Loan to Value (LTV) ratio is often lower for offset mortgages than conventional mortgages. It is possible to find loans that only require a 10% deposit, but they are few and far between. The overall availability is smaller than standard loans too, reducing choice. Image credit: Future PLC/ Douglas Gibb Does an offset mortgage mean lower repayments? The more savings you have in your offset account, the less you will pay in interest. Should you draw on your savings, your monthly repayments will be recalculated and will rise. Can I still dip into my savings with an offset mortgage? Offset mortgages offer instant access to your savings. This gives you peace of mind that if the boiler needs replacing or if you need a new set of tyres on the car, you can get to your money. Equally it can be drawn on to clear a tax bill, pay for a holiday or even school fees if that's what the money is for. Is an offset mortgage a good idea? There's no one-size-fits-all answer as to which mortgage type is best because everyone's situation is different. For those lucky enough to have hefty savings, offset is a good option to explore. David Hollingworth of L&C Mortgages says: ‘With savings rates so low, offset deals are a solid proposition. Most people don't think to explore this option, but it's worth doing the sums if you have large savings in cash.’ ‘However, since rates on offset will typically be at slightly higher rates, it's important to make use of the offset features.’ ‘If you just need a small amount of overpayment and have only a very small proportion of the mortgage amount in savings you may be better served with a more traditional deal.’ Indeed, you might prefer to take out a standard mortgage with a much cheaper rate and use a fixed rate savings account for some of your money with the rest in an easy access account. Do your sums to see which works best. Equally, you should take a wider look at your finances. If you have expensive debts – perhaps a large amount owed on your credit card– clearing this can be a better use of cash savings than putting it on deposit, as rates on debt will be far higher. Do all lenders offer offset mortgages? Not all lenders offer offset home loans, so your choice of mortgage provider will be more limited than normal. Some of those that provide offset mortgages are: Barclays First Direct Scottish Widows Bank Coventry Building Society Yorkshire Building Society Mark Harris of SPF adds: ‘Borrowers might feel put off by limited availability -and higher pricing – but it's worth remembering that the effective interest rate paid could be much lower than that on a standard mortgage.’ How do I work out if an offset mortgage is for me? You could be missing a trick if you don't do your sums and work out how much you could be saving. Many providers have offset mortgage calculators on their websites to let you play around with the numbers so you can see how it might work for you. It can help enormously to use a mortgage broker if you're unsure about the right deal for you or which lender to approach. Some brokers charge a fee whereas there are some that will arrange your mortgage fee-free. Make sure you understand their charges at the outset. The post What is an offset mortgage and how does it work? appeared first on Ideal Home.

The Go Compare People's Choice Awards 2022 Home Insurance winners revealed Posted: 23 Feb 2022 11:00 PM PST The Go Compare People’s Choice awards 2022 have revealed the best home insurance providers in the UK across a range of categories according to customers. Both NatWest and Nationwide proved the value of their home insurance scooping up outstanding awards across the board. The People’s Choice Awards is a new consumer-led award from the comparison website Go Compare. If you’re looking to invest in home insurance it can be difficult to know where to start, especially if you’re still working out what home insurance covers. However, the awards have been designed to focus on customer experience and help people choose the best provider for them. Image credit: Dominic Blackmore / Future PLC ‘Home insurance can be an emotive purchase – after all, you're protecting your home and everything within it, so getting the right product is really important,’ says Hannah Isitt, home insurance expert at GoCompare. ‘From your gadgets to your furniture and even the plants in your garden, home insurance is there to provide peace of mind when the worst happens.’ ‘The awards have been developed to help guide people through the market and, having been compiled from a survey of over 20,000 people, the results are pretty robust. While you don't want to overpay for your home insurance, it's good to review what's out there and make sure that you don't skimp on the cover as it could cost you more in the long run.’ Image credit: Future plc/Colin Poole Each company was measured across eight pillars including customer satisfaction, claims handling, renewals and trust. The results were based solely on the vote of the consumer to determine the quality of each insurance provider. Here are the winning Home Insurance providers who received ‘outstanding’ in each pillar: Go Compare People Choice Awards 2022 – Home Insurance Best providers for trust This pillar was determined by home insurers that consumers felt provided the UK people with the utmost confidence that their insurance policies, for buildings and contents insurance, have the consumer's home protection top of mind. Nationwide Natwest NFU Mutual Best providers for satisfaction In this category customers rated home insurance providers with how satisfied they felt with the overall service they received. Nationwide Natwest NFU Mutual Best providers for customer service These are the People's Choice for the home insurance companies that go above and beyond with their customer service. Nationwide Natwest NFU Mutual Best providers for claim experience Claims are usually the most difficult part of choosing home insurance. The winner were all selected for having the best experience when managing customer claims. Dial Direct Privilege Platform Saga Best providers for recommendation Potentially one of the most telling categories, these were the companies that participants said they would most likely recommend to friends and family. Aviva Nationwide NFU Mutual Best providers for rewards The UK people recognised these three home insurance providers as not only offering excellent perks but also felt the rewards offered by their insurer were truly valuable. Acorn Barclays Natwest Best providers for renewal These providers were those that provided the best experience when renewing home insurance policies. This was due to either the speed and ease of the renewal process, value for money, or the peace of mind they provided. Nationwide NFU Mutual Policy Expert Best providers for innovation These companies one an outstanding accolade for being seen as innovative and technologically advanced. They are using the latest technology available to provide outstanding service and product innovation. Barclays HSBC Natwest You can see the full results of the awards on the GoCompare website. Next time you’re renewing your home insurance bare these winners in mind. *Ideal Home and Go Compare are part of Future plc. The post The Go Compare People's Choice Awards 2022 Home Insurance winners revealed appeared first on Ideal Home.

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