Mortgage Protection Cover Could Save Your Home



Mortgage Protection Cover Could Save Your Home
Mortgage protection cover could save your home from repossession if​ you​ were out of​ work and unable to​ meet our mortgage repayments each month .​
Many homeowners are under the​ impression that the​ state would step in​ and help,​ the​ state will help if​ you​ qualify but the​ help they give is​ very little and you​ still risk losing your home.
Mortgage protection cover could give you​ a​ monthly tax free income which would ensure that you​ could carry on​ meeting your mortgage repayments if​ you​ should find yourself out of​ work through accident,​ long term sickness or​ unforeseen unemployment .​
The cover would start after you​ had been out of​ work,​ usually for 30 days or​ more and would then continue to​ provide you​ with an​ income for up to​ 12 months and with some providers for up to​ 24 months.
Mortgage protection cover can be a​ very valuable product to​ have in​ your corner but it​ has to​ be given some consideration as​ to​ its suitability for your circumstances .​
The product isn’t suitable for all homeowners as​ there are exclusions which might mean that you​ aren’t eligible to​ make a​ claim,​ some of​ the​ most common include being in​ part time work,​ retired,​ self-employed or​ if​ you​ suffer from a​ pre-existing medical condition .​
When it​ comes to​ finding the​ cheapest quote for the​ cover it​ is​ essential that you​ shop around in​ order to​ get the​ cheapest premiums .​
Don’t be forced in​ to​ taking your cover when you​ take out your mortgage – it​ is​ not compulsory to​ buy it​ from your mortgage lender .​
You are free to​ shop around for cover,​ despite what they may say!
However,​ when comparing policies,​ always make sure that you​ read the​ small print in​ a​ policy before buying the​ product and make sure that you​ understand the​ key facts in​ the​ policy if​ you​ want mortgage protection cover that could save your home in​ your time of​ need.





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