Let us asses your protection needs and recommend a suitable solution to fit your budget.
A mortgage is a loan to buy a property where the property acts as security for the loan and so can be repossessed and sold if the mortgage repayments are not made
In 2016 a total number of 7 700 properties were repossessed according to the Council of Mortgage Lenders.
Mortgage protection insurance gives you peace of mind that you would be covered in the event of losing your monthly salary.
Mortgage Payment Protection Insurance (MPPI) pays your monthly mortgage payments for a specified period if you suffer accident, sickness, or unemployment. This type of insurance is designed to help you avoid the eventuality of repossession.
You pay a premium each month while the mortgage is running. If you become unemployed, or unable to work due to accident or sickness, the policy starts to pay out (usually direct to your lender) to pay your mortgage.
Mortgage Payment Protection Insurance (MPPI) covers a combination of insurances. You may simply want the unemployment cover for your mortgage if you already have accident and sickness insurance at work, for example. Payment Protection Insurance is optional There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk
The typical cost vary between £24.42 and £35.09 per £1000 of monthly benefit. This is based on someone aged 35 and with a 30 day waiting period and up to the age of 65
Life assurance, critical illness, and income protection can all be complex products, offering many options with many exclusions. We will advise you on the most suitable cost effective solution that we can offer.