Cheap mortgage cover can work if you take the advice of the specialist
- 1ST OCTOBER 2007
Despite the bad publicity that the payment protection sector has received since the investigation began in 2005 and fines were handed out by the Financial Services Authority, cheap mortgage cover can still be a valuable safety net that can work the way it’s designed to do as long as you take the advice of a specialist in payment protection.
Standalone specialists will explain mortgage cover in plain English which makes deciding whether a policy is suited to your needs easier. One of the biggest problems with payment protection is that the majority of consumers aren’t given access to the information they need. Certainly, the high street lender is one of the worst culprits as Managing Director of British Insurance Simon Burgess is always speaking out about. British Insurance is a specialist in payment protection who prides themselves on putting the consumer first and who makes sure that the consumer is given the key facts and vital information needed to ensure a policy would be suitable for their needs.
They also provide cheap mortgage cover. Mortgage cover taken from British Insurance can save you 40% on your premiums when compared with the high street lender and providing a policy is suitable for your needs it would begin paying out from the 31st day of being out of work although with some providers the waiting period can be anything up to the 90th day. Once cover starts to give you an income it would then continue to do so for up to 12 months and with some providers for up to 24 months, which gives peace of mind and security that you aren’t going to get behind on your repayments and risk losing the roof over your head.
Some of the common exclusions that you have to be aware of include only being in part time work, if you are of retirement age or if you suffer from an illness at the time of taking out the policy. A specialist will make the key facts available to you so that you can make an informed decision regarding its suitability and as long as you read the information and take the advice that is offered then cheap mortgage cover can work the way it’s designed to work.
