Mortgage Protection is required to ensure that there are adequate funds to repay your mortgage in the event of death or being diagnosed with a specified critical illness.
Mortgage Protection is a product that is designed to repay your mortgage liability in the event of death or earlier specified critical illness during the term of your mortgage.
On a repayment mortgage the level of cover decreases as the balance of the mortgage reduces throughout the term.
On an interest only mortgage the cover remains level throughout the term.
The monthly cost depends on different factors - age, health, smoker status, occupation, lifestyle, family history, how much cover you require and for how many years.
There are many providers offering different mortgage protection contracts. To select the best contract to suit your needs contact our experienced advisers.