Mortgage Protection

Taking out a mortgage is a big financial commitment for 25 years or more of your life. Not everyone can count on being in good health for the duration of the mortgage term, which means payment protection is a must if you have dependents relying on your income.

How Can Mortgage Protection Benefit Me?

Mortgage protection is sometimes referred to as mortgage life insurance and in most cases they can mean the same thing. Mortgages are usually the biggest monthly financial outlay we make, so covering yourself if the worst happens means you will be freeing your family from the burden of having to cover the mortgage payments if you are no longer around.

Depending on the type of mortgage protection cover you choose, your payments can be protected if you have a critical illness or if you die. While none of us want to contemplate this possibility not having payment protection is a risk that could leave your dependents in danger of losing their home.

Is Mortgage Protection Cover Right For Me?

Insurers always assess what you pay by the risk of them paying out, so if you are over a certain age, have a history of health problems or anything else that may increase your risk of serious illness or death, you will generally pay higher premiums.

How We Can Help

There are various forms of personal protection that you can have and Green Mortgage Services can help you choose the product that is right for you. Please give us a call to speak to one of our advisors.

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What Is Mortgage Protection Insurance?

Mortgage protection insurance is an insurance policy that covers your mortgage payments in the event that anything unfortunate happens and leaves you unable to pay your mortgage.

If you’re made redundant, injured at work, develop a serious illness or, worse, pass away, mortgage protection insurance can take care of your monthly mortgage payments. In the latter case, it can pay off your mortgage in full and perhaps even leave your loved ones with some extra money.

Being unable to meet your monthly mortgage payments and potentially losing your house is a huge worry for any homeowner. Mortgage protection insurance shields you from this nightmare scenario. If you’re unable to work, it reduces the stress of keeping up with your mortgage payments. If the unthinkable happens and you’re no longer around, it relieves your family of the burden of paying the mortgage.

If you get a mortgage, you aren’t legally required to have mortgage protection insurance. However, it’s an incredibly valuable investment and something you should definitely consider. Green Mortgage Services are mortgage brokers in Cheshire who can give you the help and advice you need to make an informed decision.


Ask us a question

 

 

What Are The Different Types Of Mortgage Protection Insurance?

 

How Does Mortgage Protection Insurance Work?

 

How We Can Help If You’re Looking For Mortgage Protection Insurance.