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Mortgage & Equity Release - Call Us 0117 403 4474

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Mortgage Protection Cover

Why Use Our Mortgage Protection Service

Special features of what we offer include:

  • Whole of market service - We Compare major UK insurers to help you get the best deal

  • Fast turnaround - speak to us today if you need to move quickly

  • We have access to life insurance companies who will take into account existing medical conditions 

  • We can provide advice on your mortgage cover 

  • Friendly no obligation service

To investigate your mortgage protection options call our mortgage broker team on 0117 403 4474 or fill in our call back form.

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Mortgage Protection Cover

Mortgage payment protection insurance (MPPI) is intended to cover a borrower’s mortgage payments if they are unable to work, due to various reasons such as; unemployment, accident or sickness.

It is not usually a requirement of mortgage providers to have this type of cover if you have a mortgage with them, however in some circumstances it may be worth considering.

About mortgage protection cover

When taking out an MPPI policy, you can choose how much you want a policy to payout each month; some policy providers will allow individuals to include other monthly bills as well as their mortgage in the payout amount.

The maximum amount of time a policy will pay for is typically between 12 and 24 months.

Some MPPI providers may have a policy that means they will pay up to either a maximum capped value each month or a percentage of what your monthly employed income would be, typically whichever is lowest.

Compare policies

If you feel that MPPI is right for you then it can be wise to shop around different providers to try and find the one that best fits your specific needs, remember that in addition to differing costs different policies may have different stipulations.

Such as the maximum amount they will pay out each month and how much you may have to wait from making a claim to receiving your first payment.

Things to think about

Before taking out a policy it may be wise for individuals to consider if they need it and if it is the best choice for them.

For example if an individual has a substantial amount in savings, greater than the maximum amount they would be paid over the full MPPI term then they may consider MPPI unnecessary.

The same could be said if through their employer an employee would have a substantial sick pay or redundancy package.

Individuals who already have existing policies that cover similar circumstances, such as health insurance may wish to consider taking out a MPPI policy that would only cover redundancy as a health insurance policy may already cover them for loss of income.

Fair Mortgages

If you are interested in MPPI, Fair Mortgages offer a whole market of services comparing insurers to try and find you the most suitable products and offer you advice on your mortgage cover. To find out if Fair Mortgages could help you, you can fill in our online contact form, or contact directly on: 0117 403 4474

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