In its survey of 3,000 consumers, the Association of Mortgage Intermediaries (AMI) found clear evidence that the economic climate is affecting people’s decisions and their emotional response to risk.
While a minority feel comfortable and stable, most are far less certain about the future. Rising costs, inflation, stagnant wages and lack of job stability or security are leaving more than half of those who participated feeling uneasy. Against a backdrop of recent events such as the pandemic, it reinforces the belief that financial shocks can come at any time or happen to anyone.
78% stated that the current economic climate had made an impact on them emotionally when it came to making financial decisions. Furthermore, over half of all consumers (51%) stated this was a “big impact”.
Life stage makes a difference. AMI’s research shows clear contrasts across different groups in society - by age, housing situation and family status. Younger people feel the strain most, with 82% of Gen Z and 85% of Millennials reporting an emotional toll.
83% of mortgage holders are affected, with 54% saying the current climate is having a “big impact”.
87% of parents with children under 18 feel the pressure (63% “big impact”) and renters report higher stress than homeowners (57% vs 48% “big impact”).
The AMI will launch its 2025 Protection Viewpoint Report at a virtual event on Wednesday 5th November at 9am, and is inviting advisers, firm leaders, networks, insurers and technology providers from across the industry to join.
The Viewpoint Report has been developed with partners The Exeter, Legal & General and Royal London. This year’s report revisits questions from past reports, looks at the current consumer buying journey, the role of social media and the future opportunities emerging technologies will provide supported by human connection.
Stephanie Charman, chief executive of AMI, commented: “Our Protection Viewpoint launch is all about turning insight into action. These initial findings from our 2025 study show clearly that age and life stage play a huge role in how people navigate economic uncertainty, and that both emotional and practical factors shape their financial decisions. This reinforces the critical importance of the role of protection and delivering advice that really meets people where they are, helping them feel confident about the future.
“Our launch event, on 5 November, is open to the whole industry and is a fantastic opportunity to hear directly from consumers, explore the latest trends, and reflect on key lessons from the past six years. Most importantly, it’s about taking these insights and translating them into action, giving advisers, distribution partners and protection providers practical tools to make a real difference to support the future of the protection market.”
