Mortgage Protection Insurance

When taking out a mortgage it is quite likely that your lender/broker will advise you to consider a insurance policy that will cover the cost of your mortgage payments. Whilst it is not a legal requirement it is something that many people prefer to have. Since October 1995 new mortgage borrowers will receive no State help for the first nine months of unemployment or disability. Existing mortgage borrowers receive nothing for the first two months, only 50% for the next four months and then full benefit for mortgages of up to £100,000 provided they qualify for Income Support.

MPI is popular with people who;

• are self-employed
• are a contract worker
• become unemployed, for example through redundancy
• need to take long-term sick leave

You will need to pay particular attention to any deferment clause as this will be the period of time the before the insurance company will start to pay out after a claim has been submitted. This could be for up to 2 months.

For Other Unsecured Loan Providers - Click their logo below to go straight to their website

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

Best UK Loans is a trading name of Grovelawn Limited, who are directly authorised and regulated by the Financial Services Authority.
Registered Address: 98 Station Road, Sidcup, Kent, DA15 7BY; FSA Registration Number: 314204