If you're thinking about getting a UK mortgage protection insurance policy, keep in mind that you don't have to buy it at the same time as your mortgage. If you want to get the cheapest UK mortgage protection insurance, you must shop around and buy it on your own. Most of the time, if you get it at the same time as your mortgage, you will pay a lot more than you need to for the cover.
A specialist in UK mortgage protection insurance knows their product well and can make sure you don't get ripped off by making sure your policy fits your needs. Some policyholders have recently found out that they were misled when they bought their policy, and many of them have policies that they can never use.
But it's important to remember that most mis-selling is done by high street banks and lenders. Earlier this year, the Financial Services Authority fined a number of well-known names for their bad sales practises. Standalone providers can give you better advice about the product and help you save a lot of money on the premium they quote you.
People who have a mortgage in the UK and want to make sure they can keep making their monthly payments even if something bad happens and they can't work, like getting sick or being laid off, buy mortgage protection insurance. Most mortgage protection insurance policies in the UK will pay out for up to 12 to 24 months and give you a set amount of money each month to make sure you can at least pay your mortgage.
With the number of home repossessions on the rise, you should think about getting UK mortgage payment protection insurance. It could mean the difference between keeping your home and becoming just another statistic. So, before you sign up for a policy, you should ask yourself if you have the cheapest UK mortgage protection insurance.
