Cheap Mortgage Cover Can Be Found With A Standalone Specialist Provider

Cheap Mortgage Cover Can Be Found With A Standalone Specialist Provider



Cheap Mortgage Cover Can Be Found With a​ Standalone Specialist Provider
Providing mortgage cover is​ suitable for your individual circumstances then it​ could be a​ financial lifeline if​ you​ were to​ lose your income .​
If you​ were to​ become out of​ work after suffering an​ accident,​ an​ illness or​ were to​ become unemployed by way of​ involuntary redundancy,​ then you​ could be left struggling financially .​
In the​ worst case scenario you​ could lose your home to​ repossession but it​ does not have to​ be this way if​ you​ have considered taking out protection in​ the​ form of​ cheap mortgage cover.
Cheap mortgage cover would give you​ a​ tax free income once you​ had been out of​ work continually for between 31 and 90 days .​
a​ policy could then continue providing you​ with a​ tax free income for between 12 and 24 months depending on​ the​ provider .​
The income would allow you​ to​ continue repaying your mortgage without worry and so you​ would not be at​ risk of​ losing the​ roof over your head through no fault of​ your own.
However,​ as​ with all insurance policies,​ you​ do have to​ check the​ terms and conditions .​
Some exclusions which are common to​ all types of​ payment protection insurance policies include if​ you​ are self-employed,​ retired,​ have an​ ongoing illness when taking out the​ policy or​ if​ you​ only work in​ a​ part time position .​
These are just the​ most common and there can be others so it​ is​ imperative that you​ do check the​ key facts and small print of​ the​ cover .​
Luckily standalone specialist providers will give you​ access to​ this information so you​ are able to​ make an​ informed decision regarding suitability to​ your circumstances.
It is​ the​ lack of​ information surrounding cheap mortgage cover that has given this invaluable protection such a​ bad name and which has left many homeowners without protection after faith in​ the​ product dwindled .​
While the​ cover has been mis-sold it​ is​ important to​ realize that the​ products themselves are not at​ fault but those who sell them without the​ necessary training .​
Poor selling techniques have left people with policies they cannot claim on​ and the​ majority have been sold alongside a​ mortgage with the​ high street lender.
It is​ essential to​ realize that the​ cover does not have to​ be taken out with the​ mortgage and it​ can be bought independently .​
While buying mortgage protection alongside your mortgage might seem like the​ easiest option it​ can also be the​ dearest option .​
High street lenders charge high premiums for the​ protection which can boost up the​ cost of​ the​ mortgage considerably,​ the​ high street lender earns around £4 billion a​ year in​ profits from payment protection cover sold alongside loans and mortgages.
An ethical standalone specialist in​ payment protection insurance will always put the​ consumer ahead of​ huge profits and sell affordable,​ quality mortgage cover along with making sure the​ individual is​ aware of​ the​ exclusions .​
Along with providing among the​ cheapest cover they will also have information and offer advice on​ the​ policies they sell which means you​ have less chance of​ becoming another victim of​ the​ mis-selling scandal.




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