Mortgage protection insurance offers you peace of mind if you’re struggling to cover monthly repayments due to a situation beyond your control.
Whether it’s due to a sudden job loss, long period of sickness, or some other circumstance that’s going to stop you from working, not being able to pay off your mortgage is one of the most stressful experiences to go through.
To help you manage issues such as these, many insurance providers offer mortgage protection insurance (also known as MPPI).
This insurance protects your investment in your property by paying your monthly repayments on your behalf for up to two years while you’re recovering or looking for new work.
This insurance can often end up costing a lot if you go with many of the high street providers, so we’d recommend getting in touch with one of our insurance advisors first. Not only do we provide a comprehensive review of your requirements; we also have access to exclusive deals from specialist providers that you won’t find anywhere else.
How Can Rite Mortgages Help You Protect Your Mortgage Payments?
We have over two decades of experience in the insurance industry.
We provide laser-accurate advice on which insurance to take out with which provider.
We offer free, no-obligation consultations to fully understand your situation.
We work with exclusive specialist providers that you can’t find elsewhere.
We’re directly Authorised by the FCA (Financial Conduct Authority)
Should I Get Mortgage Protection Insurance?
We’d always recommend considering mortgage protection insurance to keep your payments covered, just in case something unexpected happens. Many lenders offer attractive deals, but you can usually find a fantastic rate if you do some extra research. Take a look at what mortgage protection insurance provides for specific situations:
Mortgage protection insurance is extremely useful in the unfortunate case that you are made redundant. If you get notified of a redundancy, you should evaluate whether or not it’s worth making a claim based on the payout you receive. If you make a claim, generally speaking, the rate will change and you’ll end up paying more in the long run, when your redundancy payout might cover the cost instead.
Be aware that many workplaces and government-assisted mortgages offer MPPI as part of the agreement you may have, so it’s worth checking to see if you’re already covered before going ahead.
For illness or accidents requiring a long recovery period
It’s impossible to know when you might get ill or end up in an accident, so it’s best to stay cautious. It’s often worth taking out some form of mortgage payment cover when buying a home, even if you can’t see any potential risks in your future.
The peace of mind gained from knowing you have some time to recover without the stress of finding money for your mortgage can more than make up for the price of the cover itself. If you’re still not sure, feel free to get in touch and we’ll advise you on everything you need to know.
Keep your mortgage covered.
Make sure you can pay your mortgage in the event of illness or loss of work. Our insurance advisors will the find the ideal insurance for you. Fill out the form below.