Cheap mortgage protection insurance can stop repossession
- 6TH SEPTEMBER 2007
If you have monthly mortgage repayments to make and are in full time work then cheap mortgage protection insurance can help to stop repossession if you can’t afford to pay your mortgage repayments. However it has to be bought correctly and you have to understand that it isn’t suitable for everyone because there are many exclusions within a policy.
Mortgage protection insurance when taken out correctly will usually start to pay out after you have been out of work for 30 days or more and will provide you with a monthly income which is tax free for up to 12 months and with some providers for up to 24 months.
Cheap mortgage protection insurance isn’t normally sold alongside the mortgage by the high street lender - expensive mortgage cover is - and this is the dearest way to buy the cover and can adds thousands onto the cost of your mortgage. A much better way to get cheap mortgage protection insurance is to buy it independently. “Getting several quotes from a standalone provider is essential” says Managing Director of British Insurance, Simon Burgess.
British Insurance is one of the leading payment protection specialists in the UK and their cheap mortgage protection insurance products have won several awards including best buy. Cheap mortgage protection insurance can mean the difference between losing your home and keeping it because the State cannot be relied upon to lend a helping hand in your time of need.
A standalone payment protection specialist is the best option when buying your policy not only if you want to get the cheapest but also the best quality product. In order to ensure that you are not mis sold your policy it is essential that you get as much information as you can when it comes to the policy’s suitability. Be aware of the exclusions and the key facts regarding the policy if you want the peace of mind that cheap mortgage protection insurance can give.
