If you have a mortgage or are thinking of taking out a mortgage, you will need to arrange a mortgage protection policy. It is a legal requirement to put this kind of protection policy in place prior to drawdown of a homeloan mortgage. This policy is then assigned to the lender who is providing you with the mortgage.
This type of policy is designed to pay off the mortgage in full in the event of your death. There are many different types of cover that you could be offered to fulfil this requirement and it is important that you know the product that is right for you.
What are the factors that affect the type of policy that you need?
- Is the mortgage an annuity mortgage or interest only?
- What is the amount of the mortgage?
- What is the term of the mortgage?
- Are there any health issues that may cause you difficulties in obtaining the policy?
These are just some of the factors that you need to consider when deciding on the right mortgage protection policy for you. It is vital that you have an experienced adviser who can guide you through the differing policies as well as helping you through the application process.
We have experienced staff who can take the time to evaluate your needs and recommend the most suitable policy for you. We will also search the market to find you the cheapest policy.
Call today to arrange an appointment.
