Mortgage Insurance

Mortgage Payment Protection Insurance can be a great way to safeguard your self, family and lifestyle from the uncertainties life often delivers. Mortgage Payment Protection Insurance is designed to protect you from getting into debt or missing the mortgage payments due to unemployment, sickness, or even death.

In the old days the government used to pay the interest on the mortgage if the borrower became unemployed, but guess what? The modern day government seem more interested in taking from those who have supported the country (tax payers) and recommended that mortgage insurance be introduced to UK home owners, to relieve them of this burden. For millions of UK home owners mortgage insurance is now becoming an essential part of their financial planning.

Just like any other insurance policy, the insurer has to pay a monthly premium depending upon the mortgage amount. Should the insured individual be made unemployment, ill or die, the mortgage insurance company will make the payments on their behalf.

Mortgage Payment Protection Insurance Products

Mortgage Payment Protection Insurance (MPPI):
This insurance covers the mortgage or remortgage repayments, should you fall ill, be made redundant etc.
Buildings Insurance:
This insurance cover pays for the unfortunate cost of rebuilding your home, should your property be damaged by fire, subsidence, flooding and other unfortunate occurrences.
Contents Insurance:
This insurance covers the contents of your home, should you be burgled, suffer any fire, flood damage or breakages or loss of personal items.
Life Insurance:
This insurance covers the debt of the mortgage or remortgage should you die during the mortgage or remortgage term.
Accident, sickness or unemployment insurance (ASU):
This insurance covers your mortgage payments should you be, unable to work due to an accident, sickness or unemployment (ASU), or critical illness.

Choosing the right mortgage insurance

There are many mortgage insurance policies available in the mortgage protection market, so we strongly advise that you do your research.

Tips on mortgage insurance

Only deal with an established British mortgage payment protection specialist, who will make sure that you get the best deal possible in relation to your current needs.

A mortgage insurance policy that covers a wide range of circumstances for accepting claims should ideally be picked.

The mortgage insurance policy should be carefully scrutinized. Read the small print and understand the terms and conditions of the policy properly.

Terms of Mortgage Payment Protection (conditions)

There can be various conditions and clauses under which the mortgage insurance company are not liable to make any payments and the majority of the mortgage insurance companies don't pay out in the initial three months. So make sure you have some savings or access to funds in the event of a potential claim.