A mortgage is one of the largest financial commitment you’ll ever make. If something were to happen to you, could your finances cope? 

 

What is Mortgage Protection Insurance

 

Mortgage protection insurance (also known as 'mortgage payment protection insurance' or simply 'mortgage insurance') will pay you a set amount each month, usually for a period of up to two years, if you are unable to work. 

 

There are three main types - unemployment only; accident and sickness only; and accident, sickness and unemployment. Unemployment policies will cover you only if you are made redundant. Accident and sickness cover will protect you if have a long-term illness or suffer a serious injury. 

 

There's some flexibility for you to determine how much your policy will pay out. For example, you can choose for the policy to cover just the cost of your mortgage payments, or the cost of other bills too. If you choose to cover the cost of other bills, providers will typically pay out 125% of your mortgage costs. 

You can also choose to base the cover on your salary. Providers will typically pay out up to 50% of your monthly salary. 

 

Premium costs vary depending on your circumstances, and factors such as:

  •         your age

  •         the cost of your mortgage repayments

  •         what product features you opt for

  •         what type of job you have.

Get in touch​

Contact our office to book a consultation or request a free callback at a time that suits you.

Mortgage protection

Mortgage protection insurance covers the cost of your mortgage payments if you become unwell or lose your job. Find out if it's likely to be a good option for you. 

Warning

Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured upon it. 

A fee of £299 is payable on application. We will also be paid commission from the lender.

  • w-facebook
  • Twitter Clean
  • Google Clean

Elm Tree Financial Services Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA 511619).
Elm Tree Financial Services Ltd, registered in England No. 7050523. Registered Office: Elm Tree Financial Services,  Holes Lane, Woolston, Warrington, WA1 4LZ. Telephone 0925 815 555

Cheshire Insurance Broker, Insurance Broker, Independent Insurance Broker, First Time Buyer, Remortgage, Insurance Broker Warrington, Insurance Broker Lymm, 

Insurance Broker Hale, Insurance Broker Altrincham, Insurance Broker Chester, Insurance Broker Wilmslow, Insurance Broker Northwich, Insurance Broker Frodsham