With the property market starting 2020 with a real surge, many of us will be thinking about moving home or indeed buying our first property, however in the event that something goes wrong, it is nice to have some peace of mind. Thankfully, this is where Mortgage Payment Protection comes in. 

In a nutshell

Should you be unable to pay your mortgage through circumstances beyond your control (redundancy, for example), Mortgage Payment Protection Insurance will come into play. Each insurer will vary but you should expect to receive cover for at least 60% of your income.

Why do I need it?

If you’re completing a purchase on a home, a mortgage is almost certain to become your main expense each month. Having appropriate protection should you experience a loss of income is important to make sure that you can keep on top of your mortgage payments. We’ve all likely experienced some financial difficulty during our lives and can recall the stress of making ends meet; the idea behind Mortgage Payment Protection Insurance is to alleviate that and provide you with vital piece of mind when it comes to purchasing a home. 

How long could I be covered for?

The length of your protection can be tailored to suit your needs and can last for several weeks up to a year, or potentially longer. Check with our experts to see what cover we can provide. 

What types of cover exist?

Unemployment is restricted to redundancy and will require you to be registered as unemployed with the government, as well as seeking a new job.

Accident and sickness will provide protection if you are unable to work due to an accident or long-term sickness, which will need to be verified by a doctor. 

Accident, sickness and unemployment will provide protection against all of the above.