Don’t risk losing the roof over your head when you can get cheap mortgage cover
- 2ND AUGUST 2007
Although the Bank of England base rate remained at 5.75% today, with five hikes already in less than a year, the average homeowner is looking to find around an extra £80 a month to meet their incrased mortgage repayments. No wonder that the amounts of repossessions are on the increase. The sad fact is that the majority of these are due to people losing their income and becoming unable to keep up with the mortgage repayments each month. However, there is no reason why anyone should risk losing the roof over their head when you can get cheap mortgage cover to protect mortgage repayments.
It is true the mortgage payment protection insurance (MPPI) cover can be very expensive when bought alongside your mortgage, but this isn’t the only option you have when it comes to buying the cover. A standalone payment protection specialist can help you to make huge savings on your policy by offering cheap mortgage cover. Not only this, but they have the expertise to pass onto you to help you make an informed decision about whether the cover is suitable.
A mortgage payment protection insurance policy will pay out a tax-free fixed monthly amount if you should find yourself out of work due to an accident, sickness or unemployment and will last typically for up to 12 months; however there are exclusions within a policy. It is these exclusions that have led to consumers being left unable to claim on them simply because they weren’t informed they exist at the time the policy was taken out.
A standalone provider such as British Insurance can save you as much as 40% on your mortgage cover along with giving you the information you need to make a decision. The also offer plenty of advice on cheap mortgage cover and make getting a quote quick and easy to apply for.
