Shop around and buy your mortgage insurance independently
- 14TH AUGUST 2007
You do have choices when it comes to taking out mortgage insurance. While the mortgage lender might insist that you buy mortgage insurance cover from them, it is not compulsory - you don’t have to take it alongside your mortgage from the same lender.
That means that you can shop around for the right deal and get quality mortgage insurance cover at a price that suits your budget.
Mortgage insurance provides a financial safety net against the ramifications of becoming out of work due to accident, long term illness or redundancy. A mortgage insurance policy will give you money each month to carry on paying your mortgage repayments, typically after you have been out of work for 30 days or more but this does vary from provider to provider, and will continue to pay out for up to 12 months, 24 months in some cases.
When it comes to buying a policy the best way to make sure you get a quality product that is suitable for your needs along with getting the cheapest quote for the premiums is by going to an independent and ethical specialist. One such specialist provider is British Insurance.
Shopping around for your mortgage insurance is essential but going with an ethical and specialist provider is even more so. British Insurance doesn’t sell anything but protection products and as such can offer the best advice on policies simply because they know them inside out.
Mortgage insurance can make the difference between losing the roof over your head or keeping it and when it comes to something as valuable as your home then you need to put the matter into the hands of a specialist.
