Guides

As life unfolds and memories are made, Yorkshire Building Society are here to support you


 

Guidance and support to help you through life

For over 150 years we’ve been helping people find a home, save for the future and plan for those special moments in life. Today, millions of our members trust us to provide real help in managing their finances.

To make things a bit easier and provide some guidance for our members, we’ve produced a series of guides to help you manage your way around your finances. You can use our Homebuyers guides to find out more about mortgages and the best way forward when buying a home. Or, if you already have a home, read our Homeowners section for practical advice on increasing your property's value, keeping on top of home improvements and how to protect the things that matter to you.

For savers and investors, we’ve got a number of My Money guides to help with making your money work for you and our Life Moments articles for advice on saving for those important moments and some of the smaller ones too!

Flooding in the home
Life Moments

How to help younger generations with money

You want to help the younger people in your family but what's the best way to do it? We have some practical tips on how to make the most out of financial help.

Mother and daughter cutting cake
Homeowners

5 ways to cut your mortgage payment

Reduce your monthly mortgage payments from switching deal to extending your mortgage term.

pound coins in a jar
My money

7 tips to help save money at home

It's always good to find new ways to make savings and build on your financial well being. Our guide has some practical ways to go over your finances and tighten up your outgoings.

My Money

Passing on life skills

In the early years grandparents teach kids life skills without even thinking about it. Riding a bike, learning to read and how to do sums. What skills will you pass on to the children in your life?

Understanding interest rates
Homebuyers

Understanding interest rates

When you’ve made the decision that you’d like to buy a new home, one of the trickiest aspects of the process to understand is interest rates and how these affect how much you have to pay for a mortgage.

When can I retire
Our Money Movement

When can I retire?

‘When can I retire?’ is something we all ask ourselves at some point. There’s no set age but it does depend on whether you’re eligible for the full state pension and how big your pension pot is.

Can I afford to retire early?
Our Money Movement

Can I afford to retire early?

We all like to dream of an early retirement. But whether you can afford to retire at 55 depends on a number of factors like the size of your pension pot. Here’s some of the key things you need to think about.

Planning my retirement income and expenses
Our Money Movement

Planning my retirement income and expenses

The key to a successful retirement plan is having a clear financial picture. In addition to forecasting your pension income, learn how to work out your outgoings and put together a retirement timeline.

Looking after loved ones during retirement
Our Money Movement

Looking after loved ones during retirement

You’re in the sandwich generation if you’re approaching your own retirement while caring for an elderly parent and financially supporting your adult children. Read our guide to help you cope with these double pressures.

A guide to tax in retirement
Our Money Movement

A guide to tax in retirement

It pays to be clued up on tax in retirement as it could save you money and make your retirement income go further. Find out how to make sure you’re not overpaying or under-claiming tax allowances.

What is the pension lifetime allowance
Our Money Movement

What is the pension lifetime allowance

The Pension Lifetime Allowance is something most of us won’t need to worry about. However, if you have a substantial pension pot it’s worth understanding the tax implications and how to protect your allowance.

How can I boost my pension income
Our Money Movement

How can I boost my pension income?

Boosting pension income is a topic people begin to think about as they get closer to retirement age. Read more about possible ways to increase your pension pot to make sure your retirement is a happy one.

Retirement planning: should I continue to work?
Our Money Movement

Retirement planning: should I continue to work?

Wondering whether you should continue to work when you retire? Read more about the benefits and decide whether it’s right for you.

Ways to use a pension pot
Our Money Movement

Ways to use a pension pot

Coming up to retirement and thinking about your pension pot? This handy guide covers the main pension options available to you.

The state pension explained
Our Money Movement

The state pension explained

Get to grips with your state pension – what it is, when and how you will get it, how much to expect and what to do if you are thinking of deferring.

Defined benefit and defined contribution pensions
Our Money Movement

Defined benefit and defined contribution pensions

Defined benefit and defined contribution pensions – the differences explained. Find out what what type you have, how much you can expect, if you’re protected, what happens if you change jobs and more.

How does a pension drawdown work?
Our Money Movement

How does pension drawdown work?

Is pension drawdown right for you? How will taking money from your pension affect the rest of your pot? Find out the answer and learn about the difference to annuities, different types of drawdown and paying tax.

Transferring a pension explained
Our Money Movement

Transferring a pension explained

Pension transfers can be a great way to get all your money in one place. They can also be costly and lose your benefits. It’s important to know all the information before you act.

Pensions FAQs
Our Money Movement

Pension FAQs

Pensions can be confusing, so it’s natural to have lots of questions about them. We’ve put together some extra guidance to help you with some of the main questions people ask us about.

How does a SIPP work?
Our Money Movement

How does a SIPP work?

Heard about the flexibility of SIPPs and wondered whether one might suit you? Here’s a guide to the pros and cons of self invested personal pensions.

How an annuity works
Our Money Movement

How an annuity works

Wondering about annuities and how they work? These insurance products are something you can buy with your pension pot to provide you with a retirement income for life.

Equity release: Lifetime mortgage or home reversion plan?
Our Money Movement

Equity release: Lifetime mortgage or home reversion plan?

Make yourself better informed about the two main types of equity release and the pros and cons of each: lifetime mortgages and home reversion plans.

Your mortgage options
Our Money Movement

Your mortgage options

It used to be difficult to get a mortgage if you were over 55. However, there are some new products on the market for later life borrowing. So what are your options?

Downsizing and equity release alternatives
Our Money Movement

Downsizing and other equity release alternatives

Downsizing your home is a simple way to release money to fund your retirement. But how does this compare with equity release, what costs are involved and what other options are there?

How does equity release work?
Our Money Movement

How does equity release work?

Equity release can help you to access money that’s tied up in the value of your home without having to move out. Find out whether it’s the right option for you.

Long-term care: what are my options?
Our Money Movement

Long-term care: what are my options?

Wondering about your long-term care options? Our overview describes the types of care available, who will pay, ways to self-fund and what the costs might be.

A guide to self-funding long-term care
Our Money Movement

A guide to self-funding long-term care

A helpful guide to how self-funding works, what the pros and cons of each of the options are and how to find out if you’re eligible for state benefits.

What is the cost of long-term care?
Our Money Movement

What is the cost of long-term care?

Long-term care can be expensive and fees can vary by region. Find out about the typical costs so you can build them into your financial plans.

Who pays for long-term care
Our Money Movement

Who pays for long-term care?

This article covers whether you, your local authority or the NHS will pay for your care and what that means for you, as opposed to personal health insurance.

Mum and daughter exercising together
Homeowners

Guide to home improvements

Many of us are spending more of our time at home and have more we want to use our homes for. Could you renovate your living space to create a home office or gym? You could add value to you home too.

image of father and young son using tablet
My Money

Getting into the savings habit

Start a good habit and find ways to save money, build up your reserves and make sure you have something put away for a rainy day.

Image of couple smiling,  looking at a screen together
Homebuyers

Mortgages and moving during the coronavirus

Everyday life has changed during the pandemic, not least how we think about moving house. We look at some of the innovative ways the moving market has adapted to try and help you sell your house online.

Family sat down in living room relaxing
Homeowners

Time to think about remortgaging

Remortgaging is just another name for switching your mortgage deal. If your current deal is coming to an end soon, it's worth checking if you could save money by switching to another mortgage product.

image of meat on a barbecue
My Money

Saving lump sums

There are many situations in life where you may receive a sudden boost to your finances. However the windfall arose, what are the various ways you can save a lump sum of money?

Homeowners

Guide to the cost of moving house

There are various costs of moving house, from legal fees to Stamp Duty. Read our guide to plan your next move with confidence.

My Money

How to stay safe online

Cybercrime statistics can be scary but a few simple actions can help to protect you. Follow the tips in our guide to help keep you safe and take control online.

Digging over a garden
Homeowners

Garden makeovers on a budget

Making the most of your outdoor space doesn’t have to cost the earth. We’ve got some cheap and effective ideas to help with your garden makeover.

Happy couple at a building site
Homeowners

How to plan an extension so your home grows with you

Life changes all the time but if your home doesn’t change with you, you could soon find yourself running out of space. Needing more space doesn’t have to mean moving home. Find out more about the costs and practicalities of how to plan an extension so your home grows with you.

Boys happily running on a beach
My Money

How to save for a summer holiday

It’s never too late to start saving for a summer holiday. Beat those winter blues and start saving for something to look forward to in the summer.

Flooding in the home
Life Moments

Floods and your home

Not everyone realises they're at risk of flooding until it happens. Is it time to check your insurance policy and put plans in place in case the worst happens?

image of energy efficiency rating chart
Homeowners

Living greener and saving money

How can you make savings and still have a greener home? Read our guide on tips to reduce your carbon footprint while helping you save money.

My Money

5 money chats to have with kids

According to the Money Advice Service, habits with money are formed by the age of seven.

Trimming a hedge
Homeowners

Garden renovations to help sell your home

If you’re looking to sell your home it’s unlikely you’re going to want to spend money on renovating your garden however an unkempt garden can, of course, be a deterrent to a sale and a well-kept garden can even add some value.

Lady putting a vase of flowers onto a bedside table
Homeowners

Getting your home ready to sell

You’ve made the decision to move house, you’ve decided the area you want to move to and you may have even found a house you’ve set your heart on. Now all you have to do is sell your home!

Homeowners

Remortgaging - What you need to know

Whether it's the first time you're remortgaging or you're an experienced mortgage switcher, we know it can still be difficult to know how the process works for different mortgage providers.

Homeowners

Fixed rate mortgages

Emma Lunn, a freelance personal finance journalist, tell us her views on fixed rate mortgages.

My Money

Don't need life insurance? Are you sure?

Should you think about buying life insurance? A life insurance policy is there to provide peace of mind for you and your loved ones should the worst happen. Our guide can help you work out if life insurance is something you could consider.

Family sat inside looking out a window
Homeowners

How to keep your house warm

The long hot summer is just a distant memory now as the cold weather approaches. You’ll soon find yourself reaching for a chunky knit jumper and scarf - but don’t forget to wrap-up your home too.

image of handmade christmas presents
My Money

Money saving tips this christmas

With Christmas just around the corner, you may be worrying about one of the most expensive times of the year. In fact, according to the Money Advice Service the average UK family was planning to spend over £800 on Christmas last year!

Family sat inside looking out a window
Homeowners

How to sell your house, a step by step guide

A step by step guide on how to sell your house, from getting your house ready to sell and putting it on the market, right through to completing the sale and moving out.

image of meat on a barbecue
My Money

Ideas to have fun this Summer without breaking the bank

We all know that the sun might not shine that often, so it’s important to make the most of it when it does (or even when it doesn’t)!

Couple sat down in a room
Homeowners

Portability (move home with your mortgage)

The word portability in the dictionary is defined as ‘the ability to be easily carried or moved’. When referring to your mortgage (and often also called ‘porting’), it is simply where you are able to take your mortgage deal/rate with you when you move home.

home security this winter
Homeowners

Home security this winter

Being victim to a home burglary can be a traumatic experience, let alone the inconvenience of having to involve the police and your insurance company and the expense of having to replace personal items or broken windows and locks.

Life Moments

Student insurance

You might be tempted to overlook getting insurance; after all, you have so many other expenses to think about at the beginning of term. Is it worth it?

Homebuyers

UK Home Affordability

Our new affordability map shows some major differences in housing affordability across Britain since the start of the economic downturn.

Completing a mortgage application
Homebuyers

Our mortgage application tips

We all know that buying yourself a home will probably be the biggest purchase you will ever make. Just like any big decision, it pays to put some preparation in before making your first move.

image of child wearing wings
My Money

Paying off a mortgage with savings

If you’re paying off a mortgage each month but have some savings earning a low rate of interest, you might think that using this money to pay off your mortgage sooner is the right thing to do.

Life Moments

Top 10 unexpected wedding costs

Planning for your big day? You've probably started thinking about how much you'll need to save, but weddings are notoriously...

10 Ways to keep your home safe while you're away
Homeowners

10 Ways to keep your home safe while you're away

There's no place like home – and home insurance is there to help keep the things you love safe. But who doesn't love a getaway? From a weekend city break to a month long backpacking adventure – however you're holidaying, take a minute to think about what you're leaving behind.

Life Moments

Later life planning

Thinking about what may happen in the event of your own death isn’t a topic most of us like to dwell on.

Our guide to your first mortgage
Homebuyers

Our guide to your first mortgage

Buying your first home is often the biggest financial commitment you make and can also be the most difficult.

image of family at the beach
Life Moments

Our top tips for saving money on holiday

Is a holiday high on your agenda at the moment? Can’t get those sunny beaches or bright city lights off your mind? If you’re thinking of booking a getaway but have a modest budget to...

My Money

Budgeting made simple

If you’re struggling to save any money at the moment and you could use a little budgeting advice then you’re definitely not alone.

Making an offer
Homebuyers

Making an offer

So you’ve found a property you’d like to buy, hooray! Now comes the potentially tricky part – making an offer and getting it accepted.

Child playing with a tape measure
Homeowners

Home Maintenance Tips

It’s unlikely that home maintenance is top of your priority list of must do things this weekend. But along with the daily and weekly essentials like cooking, laundry and cleaning, regular home maintenance is just as important to keep your home in order and even prevent future problems.