Mortgage Protection – New Home Mortgage
Your home is likely to be your most important asset and, if you’re thinking about your life insurance, making sure that your family have a roof over their heads if you’re no longer there to help them is perhaps your first consideration.
Should you die without such cover any remaining mortgage debt would be set against the value of your estate and – if the debt exceeds the worth – the property may be repossessed and sold to cover the deficit.
If, on the other hand, you had a joint mortgage, the debt would become the sole responsibility of the survivor who may not have the income to cover the payments, and may be in a distraught state after their loss.
There are many options offering mortgage cover and we will be sure to provide you with the cheapest mortgage protection policy available at the time.
Whichever option you choose, it’s important to remember the cover you have should you come to remortgage and, perhaps, increase your mortgage debt; you may be left in a situation where your life cover is no longer adequate to pay off the mortgage.
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