Payment Protection Insurance
There are no fees for this service. We search the whole market to find the most appropriate and cost effective insurance(s) for you including new policies and re-brokering existing plans.
As the name suggests, you can get protection to cover your monthly outgoings should you have an accident or illness that prevents you from working or even being made redundant. you can have one or two years protection.
You can have the starting point deferred for three months or six months to reduce the cost/premiums or it can pay out after 1st month. We are obliged to recommend this type of insurance as it is plain common sense to have such a protection in place and is strongly recommended by the FSA.
These plans are not suitable for all people. We will only provide plans that are appropriate for you.
The liability to be covered would be the monthly mortgage payment plus any insurances. For example:
- Monthly mortgage payment £440
- Monthly life and critical illness £48
- Monthly payment protection £27 (to provide £552 cover for 2 years)
- Monthly building and contents £37
- Total monthly commitment £552
(Above is only an example, you payments may be higher or lower depending on circumstances).
Contact us to discuss or to get a quote on info@mortgage-market.co.uk or call us to discuss on 01535 640079.