Mortgage related Insurance Advice
WHAT'S THE POINT OF PAYING FOR PROTECTION?
Paying for insurance may seem like an unnecessary extra cost when you are taking on a new mortgage, BUT…....
It would be pointless going to all the time, trouble and expense of investing in your new home if you are going to throw it all away the first time a crisis occurs such as a fire, illness, loss of employment or death in the family.
Fire insurance is generally compulsory, but life insurance, critical illness cover and income protection are optional and this is where you can leave yourself at serious risk.
You may feel invulnerable, especially if you are young and fit and in a job with a good package of benefits.
HOWEVER, a 23 year old has a 42% chance of dying, suffering a serious illness or being unable to work for at least 2 months in the course of a working lifetime, and all of these eventualities will affect your ability to pay the mortgage with the potential result of losing your home. (Source Liverpool Victoria risk reality calculator)
No employer will keep you on indefinitely if you are unable to work long term, so your benefits will cease to apply and you will be on your own unless you have the relevant insurances in place in your own name.
Get in touch today to find out how we can help you
SO HOW CAN STRICTLY MORTGAGES HELP?
A very important part of the service we offer is an assessment of the risks you face when you take out a new mortgage, together with recommendations for appropriate insurance products to counter those risks.
We will identify the most suitable providers to supply the necessary insurances, and work with you to build a package of insurances that is both affordable and appropriate to your needs.
If you are in business it is important that you consider partnership or shareholder protection as appropriate, and insure the business against the loss of a key person critical to your success. Tax deductible life insurance is also an excellent way of providing benefits for directors and employees alike.
We have prepared a detailed Guide to Insurance Considerations which will be a big help to you in understanding these issues and the nature of the different types of insurance cover available to you.
Taxation planning is not regulated by the Financial Conduct Authority.
Information is based upon our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from taxation, are subject to change
“I have been very impressed with your manner and prompt service. I spoke to my ex this afternoon and I have recommended that he contact you for the same service”
KM Tewkesbury
We provide Mortgage & Protection Advice throughout Gloucestershire, Worcestershire and The Cotswolds including the following local areas…
Cheltenham • Worcester • Gloucester • Tewkesbury • Stow-on the Wold • Broadway • Cirencester • Hereford • Evesham • Pershore, but we work nationally servicing clients in all areas from London and the South Coast to Scotland in the North.
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