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Why Choose Ascot Mortgages
Why Choose Ascot Mortgages
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Written by:
Richard Johnson
Ascot Protection Expert
Last Updated:
05.10.2023
Written by:
Richard Johnson
Ascot Protection Expert
Last Updated:
05.10.2023
Mortgage Protection Insurance
When you take out a mortgage, you perhaps imagine that you will always be in a position to meet the repayments that you agree to at the time of purchasing your property. Mortgages are a big investment and one that, if done correctly, will provide you with the security of your own home. Nobody likes to plan for what might happen should the situation change, and perhaps you may avoid taking out mortgage protection in the belief that it is saving you money. However, failure to insure yourself for unexpected events could have a great impact on your family’s home and security.
At Ascot Mortgages, we understand the importance of protecting your investment to ensure the security of your home. We are experienced mortgage and protection advisors in the UK, dedicated to helping our clients find the right mortgage protection insurance to suit their needs. With our expertise, we can guide you through the options available and help you make an informed decision.
The types of mortgage payment protection insurance
‘Mortgage Payment Protection Insurance’ can vary slightly dependent on who you insure with but whoever you choose you can rest assured that there are a range of features and benefits to help you. Generally this form of mortgage protection plan will cover you for up to twelve months ensuring that you can concentrate on recuperating or finding a new job, safe in the knowledge that your home is secure. The insurance is usually paid out quickly, within a month or two of you being out of work, and the payments are usually backdated so you do not have to worry about falling into arrears with any of your mortgage payments.
There are usually, dependent on the policy and provider, different prices for the insurance dependent on your age ensuring that you can choose the package that fits you. You could also choose one or more elements of the cover offered, for instance you may be confident that if you were made redundant you would receive a generous payment package and therefore you may only wish to take out the sickness and accident element of Mortgage Payment Insurance. It is this element of flexibility that makes it perfect for today’s housing market and you can be assured of the longevity of your policy because Mortgage Repayment Protection Insurance is covered under the government supported ‘Financial Services Compensation Scheme.’ This means that whatever might happen to the economy, your mortgage insurance is safe.
If you would like free initial advice about the different mortgage protection and / or life insurance options available please contact Ascot Mortgages – we are will be happy to explain things in a clear, unbiased and helpful way.
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FAQ
Yes, you can claim if you are diagnosed terminally ill or on death.
No, but it can provide peace of mind by covering your mortgage payments in case of unexpected circumstances.
Life insurance pays out a level lump sum upon death, while mortgage protection decreases with your mortgage payments, so will payout whatever is left on your mortgage.
No, mortgage protection covers your mortgage in the event of death, PPI covers various types of debt.
Yes, as smokers are generally considered higher risk, they will face higher premiums for mortgage protection insurance. Reach out when you’re ready, and we can help you understand your options.
Yes, self-employed individuals can get income protection, providing a regular income if you can’t work due to illness or injury.
Typically, income protection policies cover 50-70% of your pre-tax income. This can vary based on the insurer. We’re here to help you understand your coverage when you’re ready.
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