Money worries rarely stay just about money. They affect sleep, confidence, relationships, and mental wellbeing – and for many people across the UK, mortgage payments are now becoming one of the biggest sources of stress.

The data highlights the scale of the issue. More than one in three adults feel anxious about money, according to the Mental Health Foundation.

Research from the Money and Mental Health Policy Institute found that millions of homeowners face significant payment increases when fixed-rate mortgage deals come to an end – and for some households, that means cutting back on food, heating, and essentials just to keep a roof over their heads.

More than half of mortgage holders with mental health problems have made difficult trade-offs to stay on top of repayments, including missing other bills or reducing spending on essentials like energy and medication.

“Mental health is becoming an important part of the protection conversation”

The connection between financial stress and mental health is well-established. What is less widely recognised is how directly this translates into protection claims.

Mental health is now one of the most common reasons for income protection claims and accounted for the highest value of claims in 2024, at £37 million.

Successful claims are regularly paid when the right evidence and support is in place. But many clients still don’t understand what income protection actually covers, or that a diagnosis of anxiety or depression may be considered as part of a valid claim.

Our recent study with HomeOwners Alliance found that more than a quarter (26%) of homeowners wrongly believe income protection does not cover conditions such as anxiety or depression. Among those who already hold a policy, this rises to one in three (34%), and to 37% among the under-35s.

Seeking help early is also important. Formal diagnoses, support from a GP, counselling, CBT, or treatment plans can all play an important role not only in recovery, but also in helping evidence a claim if time away from work becomes necessary.

That’s a conversation that advisers are well  placed to support. Not as a clinical intervention, but as a financial one: if your income stopped tomorrow because you couldn’t work, what would happen to your mortgage?

REDUCING FUTURE RISK

One of the most important things advisers can do is help clients understand the value of having protection in place before health issues arise, as pre-existing conditions may not always be covered later.

While no policy removes the emotional impact of financial stress completely, knowing there is a back-up plan in place can help families feel more secure and better prepared for the unexpected.

BREAKING THE SILENCE

The silence around financial stress makes this harder. StepChange found that many people struggling with debt avoid talking about it because of embarrassment or fear of judgement – yet many also said they felt better after finally opening up.

Advisers who create the space for that conversation, who ask the right questions and listen without judgement, can make a significant difference to a client’s trajectory, financially and otherwise.

There is no magic script for this. But there are some questions worth building into every mortgage review: How are you finding things financially at the moment? Have you thought about what you’d do if one of you couldn’t work? Do you have anything in place to protect your income?

For clients who are already struggling, letting them know that speaking to their lender early, asking for support, and reaching out to organisations like Citizens Advice, MoneyHelper or StepChange can all help ease the pressure before things become unmanageable.

For those who aren’t yet in crisis, it may be the moment that prevention becomes possible.

Money worries and mental health are more closely connected than most people admit – and mortgage advisers can play an important role in bridging that gap.