Mortgages are a significant financial commitment for most people, and protecting you, your family, and your lifestyle is crucial. Mortgage protection is a form of insurance designed to safeguard your home and your family’s financial well-being in the event of unforeseen circumstances.
In this blog, we’ll explore seven compelling reasons why mortgage protection is paramount.
Key benefits and reasons will include;-
- Financial security for your loved ones
- Preventing repossession
- Coverage for critical illness
- Easy application process
Financial Security for Your Loved Ones
The primary purpose of mortgage protection is to ensure that your loved ones can remain in their home if you were to pass away unexpectedly. If the primary breadwinner were to die, the surviving family members might struggle to cover the mortgage payments. Life assurance can provide a safety net by paying off the mortgage, relieving your loved ones of this financial burden. Financial security in these types of situations are priceless and Thameside Mortgages are here to make the process straightforward.
Failure to pay your mortgage can lead to repossession, which means losing your home. Mortgage protection ensures that your family won’t face this dire consequence if you were to pass away or become seriously ill. A decent protection policy should cover the remaining mortgage balance, allowing your family to retain the home they’ve built their lives in. You can find out more about mortgage protection, and the alternatives, by heading over to our dedicated page here.
Coverage for Critical Illness
In addition to covering death, we also recommend protection against critical illnesses. If you were to suffer from a severe critical condition that met the insurers definition of a critical illness, the insurance pay-out can help cover your mortgage payments, or pay for medical treatment not covered by the NHS, or take time off work to care for each other, giving you peace of mind during a challenging time. We provide dedicated critical illness protection and these policies can also provide cover for your children too.
Easy Application Proces
Applying for mortgage protection is typically straightforward and less time-consuming than traditional life insurance applications. This convenience makes it an accessible option for many homeowners. Moreover, we tailor to your own personal situation, taking into account any existing policies you may have.
Mortgage protection, provided by Thameside Mortgages, offers a range of benefits that makes it an invaluable choice for those who wish to safeguard their family’s financial well-being.
For the vast majority of people, your home is your most significant asset, and therefore protecting it is paramount and gives you the ultimate peace of mind.
Get in Touch
Are you looking to learn more about mortgage protection? If so, we would love to hear from you today to discuss all options available to you.
*A mortgage is a loan secured against your home or property. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other loan secured on it. The Financial Conduct Authority does not regulate most forms of buy-to-let mortgages*
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