It seems there is no longer a "job for life" and many people move from company to company and in many cases from one type of job to something completely different.

Businesses appear to be much quicker these days to "trim the workforce" (or in other words, make redundancies!) leaving many people to start looking for work once again. With very little support available from the Government, it can be a real struggle to pay your mortgage while you are between jobs.

There is a really easy way to protect your monthly repayments against redundancy. For a typical mortgage of £500 per month, it would cost about £11 per month to ensure that your mortgage is paid for the first 12 months you are out of work. Conditions apply, please ask for a personal illustration.

Of course, it is not only redundancy which might prevent you from earning a living. An accident or long term sickness can have an equally devastating affect on your finances and while we all believe "it won't happen to me", to some of us, it does!

To protect you mortgage against Accident, Sickness and Unemployment the premium for that same £500 per month mortgage would be less than £20 per month.

Without such cover in place you would initially need to rely on your savings or redundancy payment to pay your mortgage, if you then begin to miss an occasional payment, your credit history is affected meaning future mortgages could cost you more and of course the ultimate course of action open to a Lender if you fail to keep up your mortgage payments, is the loss of your home through repossession.

For the sake of a typical £20 per month, peace of mind is rarely achieved so easily!

To discuss your options and to get a quote, please contact us today!