It is quite possible that when times get tough you could end up worrying about how you're going to meet your mortgage payments, whether you're a young, first-time homeowner, with a growing family or approaching retirement. Gordon Blair provides impartial advice on Mortgage Protection Comparison for properties in London; advice you can trust.
Your home really is your most important possession and if you fail to pay your mortgage, you and your family could be faced with repossession and homelessness. For this reason, mortgage insurance is a very important product to consider, whether you're buying a new home or you're simply looking for extra security and peace of mind.
If you were unable to work due to an accident, illness or unemployment, you would feel better knowing that your investment is protected.
Mortgage insurance offers you tax-free monthly payments that help you pay your mortgage should your income cease for any reason. This could be as a result of an accident or long-term illness that has left you unable to work, or because you have been made redundant. If you were unlucky enough for any of this to happen, a comprehensive mortgage payment protection policy could ensure that you don't fall behind on mortgage payments, thereby removing that worry while you're out of work.
It is important to be aware that there are conditions attached to a mortgage insurance policy, and we will advise you on this. As an example, some policies may not pay out until you have been out of work for a full month, although many will then backdate your first payment to include this period. Some mortgage insurance policies only cover a limited amount of time, usually 12 – 24 months, and some may offer you the option to extend your cover period, so it's vitally important to consider your circumstances before choosing to buy a mortgage payment protection policy.
Contact our qualified advisers today for Mortgage Protection Comparison in London.