Mortgage Protection: download our Guide to Moving or Buying your First Home
Rachel Smith has Mortgage Protection Insurance with helpucover.co.uk. When she was made redundant last year Rachel attended a helpucover back to Work Workshop to help her through her redundancy and find a new job.Read more
Mortgage Repayment Protection
Question: How big is your financial nest-egg?
Question: How many years has it taken to gather?
Question: How long would your savings last if you lost your main source of income?
Homeowners who don't have substantial financial resource behind them - or a mortgage repayment protection policy to hand - might feel a little anxious if asked these questions.
Without mortgage repayment protection, redundancy, long-term sickness, or a serious accident could put your home in danger of repossession if loss of income leads to mortgage default.
And many homeowners are under the misapprehension that their mortgage repayments would be covered by Social Security if they lose their income through redundancy, illness or accident. They don't think they need mortgage repayment protection. Unfortunately, the government offers very little financial support to homeowners who have fallen on hard times, whatever the merits of the case.
However, helpucover will cover your mortgage repayments for 12 months in the event of redundancy, long-term sickness, or serious accident … irrespective of your savings or financial resources.
So once you're back to work, or fully recovered, maybe you'll still be able to take that dream cruise, or buy that new car, after all!
Answer: Don't needlessly drain your savings away. Purchase mortgage repayment protection from helpucover.