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Protection Guide

At Thameside Mortgages, we are dedicated to helping you achieve your dream of homeownership. 

However, we understand that owning a home is a long-term commitment, and we take our responsibility seriously in ensuring that you remain in your home for many years to come.

One crucial aspect of this commitment is helping you to remain financially resilient throughout your life. We understand that life is unpredictable, and unexpected events can have a significant impact on your finances. That’s why we work with you to identify potential risks and develop a plan to help you mitigate them.

Our team of experts can assist you in evaluating your financial situation and provide you with recommendations to help you remain financially resilient. We will work with you to ensure that you have the necessary protection in place to secure your financial future and provide you with peace of mind.

We take great pride in our commitment to helping you achieve your homeownership goals while also ensuring that you remain financially secure throughout your life. Please do not hesitate to contact us to discuss your options further. 

We are here to support you every step of the way.

Why is it important to ensure you are protected?

Here are a few reasons why it’s important to ensure you are protected:

  • Peace of Mind: By having protection in place, you can rest easy knowing that your mortgage repayments will be taken care of if something unexpected happens.
  • Avoiding Financial Hardship: In the event of death, illness, or loss of income, it’s essential to have protection in place to avoid falling into financial hardship. Without proper protection, you may struggle to keep up with your mortgage payments, which can have significant consequences.
  • Protecting Your Home: Your home is likely one of the most significant investments you will ever make. By protecting your mortgage, you are also protecting your investment and ensuring that your loved ones can continue to live in the home you’ve worked hard to provide.
  • Maintaining Your Credit Score: Missing mortgage payments can have a significant impact on your credit score, which can affect your ability to secure credit in the future. By having protection in place, you can avoid missing payments and maintain a good credit score.

In summary, protecting your mortgage in the event of death, illness, or loss of income is critical to ensure that you and your loved ones remain financially secure during difficult times. It provides peace of mind, avoids financial hardship, protects your investment, and maintains your credit score.

What is Life Assurance?

Life assurance, in relation to a mortgage, is a form of insurance that provides a lump sum payment to repay the outstanding balance of your mortgage in the event of your death.

If you have a mortgage, life assurance can be a valuable way to ensure that your loved ones are not burdened with the mortgage payments if you were to pass away unexpectedly. The payout from a life assurance policy can be used to pay off the outstanding balance of your mortgage, allowing your loved ones to remain in the family home without the burden of mortgage payments.

Life assurance policies can be tailored to meet your individual needs, and you can choose the level of cover that you require. This will depend on factors such as your mortgage balance, your age, your health, and your family’s needs.

It’s important to note that life assurance is different from mortgage payment protection insurance (MPPI), which is designed to cover your mortgage payments if you are unable to work due to illness, injury or redundancy. While life assurance provides a lump sum payment in the event of your death, MPPI provides a regular income to cover your mortgage payments if you are unable to work due to the reasons mentioned above.

In summary, life assurance is a form of insurance that provides a lump sum payment to repay the outstanding balance of your mortgage in the event of your death. It can be a valuable way to ensure that your loved ones are not burdened with the mortgage payments if you were to pass away unexpectedly.

What is a Level Term Life Assurance Policy?

A level term assurance policy is a type of life assurance policy that provides a fixed amount of cover for a fixed period of time. It is designed to pay out a lump sum to your loved ones if you were to die within the term of the policy.

With a level term assurance policy, the amount of cover and the length of the policy are both fixed at the outset. The policy will pay out a fixed sum of money if you die within the term, regardless of whether you die at the beginning or the end of the policy term. This means that the level of cover remains constant throughout the term of the policy.

Level term assurance policies are often used to cover the outstanding balance of a mortgage, ensuring that your loved ones are not left with the burden of mortgage repayments if you were to die unexpectedly. However, they can also be used to provide a lump sum to cover other financial commitments, such as household bills or children’s education costs.

It’s important to note that level term assurance policies do not have a savings or investment element, and the policy will only pay out if you die within the term of the policy. If you survive the term of the policy, the policy will expire, and you will not receive any payout.

In summary, a level term assurance policy is a type of life assurance policy that provides a fixed amount of cover for a fixed period of time. It is designed to pay out a lump sum to your loved ones if you were to die within the term of the policy, and can be used to cover the outstanding balance of a mortgage or other financial commitments.

What is a Decreasing Term Life Assurance Policy?

A Decreasing Term Assurance Policy is a type of life assurance policy that provides a decreasing amount of cover over time. The amount of cover decreases at a fixed rate over the term of the policy, usually in line with the outstanding balance of a repayment mortgage.

The idea behind a decreasing term assurance policy is that the amount of cover decreases in line with the decreasing amount owed on a repayment mortgage, meaning that the policy should always be enough to pay off the outstanding mortgage balance if you were to die during the policy term.

As the amount of cover decreases over time, the premiums for a decreasing term assurance policy are usually cheaper than for a level term assurance policy. This can make it an affordable option for those who want to ensure that their mortgage will be paid off if they were to die during the mortgage term.

It’s important to note that decreasing term assurance policies do not have a savings or investment element, and the policy will only pay out if you die within the term of the policy. If you survive the term of the policy, the policy will expire, and you will not receive any payout.

In summary, a Decreasing Term Assurance Policy is a type of life assurance policy that provides a decreasing amount of cover over time. It is designed to ensure that the policy payout will always be enough to pay off the outstanding mortgage balance if you were to die during the mortgage term, and can be an affordable option for those who want to ensure their mortgage is paid off in the event of their death.

What is a Family Income Benefit Policy?

A Family Income Benefit Policy is a type of life insurance policy that provides a regular tax-free income to your family or dependents if you were to die during the term of the policy.

Unlike other types of life insurance policies, such as level term or decreasing term assurance policies, a Family Income Benefit Policy does not pay out a lump sum of money upon your death. Instead, it provides a regular income to your beneficiaries for a set number of years, known as the policy term.

For example, if you took out a 20-year policy with a benefit of £25,000 per year and you were to die after 5 years, the policy would pay out £25,000 per year to your beneficiaries for the remaining 15 years of the policy term.

The advantage of a Family Income Benefit Policy is that it can provide a regular income for your family or dependents to help cover essential living expenses, such as mortgage or rent payments, school fees, or other bills. This can be particularly useful if you are the main breadwinner in your household and want to ensure that your family is financially secure in the event of your death.

It’s important to note that the premiums for a Family Income Benefit Policy are usually cheaper than other types of life insurance policies, such as whole of life or endowment policies. However, the policy will only pay out if you were to die during the term of the policy. If you survive the term of the policy, you will not receive any payout.

In summary, a Family Income Benefit Policy is a type of life insurance policy that provides a regular tax-free income to your family or dependents if you were to die during the term of the policy. It can help to provide financial security for your loved ones and cover essential living expenses in the event of your death. While it may not be suitable for everyone, a Family Income Benefit Policy can be a cost-effective and practical option for those looking for life insurance coverage. As with any financial decision, it’s important to carefully consider your individual circumstances and seek professional advice before making any commitments.

What is an Income Protection Policy?

An Income Protection Policy is a type of insurance policy that provides a regular income if you are unable to work due to illness or injury. If you become unable to work and meet the policy’s criteria for incapacity, the policy will pay out a percentage of your usual income, typically up to 60%, until you are able to return to work or until the policy term ends.

Unlike other types of insurance policies, such as critical illness cover or accident insurance, income protection insurance is designed to provide ongoing support over an extended period of time, typically until retirement age or until you are able to return to work.

Income protection policies may vary depending on the provider and the policy terms. Some policies may include additional features such as rehabilitation services, which can help you to return to work more quickly.

It’s important to note that income protection policies usually have a waiting period before they start to pay out, typically between one and six months, depending on the policy terms. This is known as the ‘deferred period’ and is designed to ensure that the policy is only used to cover long-term incapacity rather than short-term absences from work.

In summary, an Income Protection Policy can provide a valuable safety net if you are unable to work due to illness or injury, helping to cover essential living expenses and maintain your standard of living. It’s important to carefully consider your individual circumstances and needs before taking out any insurance policy, and to seek professional advice if you’re unsure about what type of policy is best for you.

What is a Short-Term Income Protection Policy?

A Short-Term Income Protection Policy is a type of insurance policy that provides a regular income if you are unable to work due to illness or injury for a limited period of time, typically up to two years.

Unlike a traditional Income Protection Policy, which may provide coverage until you can return to work or reach retirement age, a Short Term Income Protection Policy is designed to provide coverage for a shorter period, offering a more affordable option for those who want protection but may not require long-term coverage.

The policy will typically pay out a percentage of your usual income, usually up to 60%, for a set period of time, which can help cover essential living expenses such as rent, mortgage payments, bills and other financial commitments.

It’s important to note that Short Term Income Protection Policies may have exclusions and limitations on the illnesses and injuries covered, and may also have a waiting period before they start to pay out, typically between one and three months.

Short Term Income Protection Policies can be a useful safety net for those who want protection against short-term loss of income due to illness or injury, providing peace of mind and financial security during a difficult time. However, it’s important to carefully consider your individual circumstances and needs before taking out any insurance policy, and to seek professional advice if you’re unsure about what type of policy is best for you.

What is a Critical Illness Policy?

A Critical Illness Policy is a type of insurance policy available that provides a tax-free lump sum payment if you are diagnosed with a specified critical illness or medical condition during the term of the policy. The policy is designed to provide financial support in the event of a serious illness, allowing you to focus on your recovery without worrying about financial pressures.

The critical illnesses covered by the policy can vary depending on the provider and policy terms, but typically include conditions such as cancer, heart attack, stroke, multiple sclerosis, and kidney failure. The policy will pay out a lump sum if you are diagnosed with one of the specified illnesses, regardless of whether or not you are able to continue working.

It’s important to note that not all critical illnesses may be covered by the policy, and some policies may have exclusions and limitations on the illnesses covered. In addition, the policy may have a survival period, which is the length of time you must survive after being diagnosed with a critical illness before the policy will pay out.

Critical Illness Policies can be a useful safety net for those who want protection against the financial impact of a serious illness or medical condition. However, it’s important to carefully consider your individual circumstances and needs before taking out any insurance policy, and to seek professional advice if you’re unsure about what type of policy is best for you.

What is Whole of Life Cover?

Whole of Life Cover is a type of life insurance policy that provides coverage for the entire lifetime of the policyholder, as long as premiums are paid. This is in contrast to term life insurance, which only provides coverage for a specific period of time.

With Whole of Life Cover, the policyholder pays a regular premium to the insurance provider, and in the event of their death, the policy pays out a lump sum to their beneficiaries. The payout amount is determined at the time the policy is taken out and is guaranteed to be paid regardless of when the policyholder dies.

One advantage of Whole of Life Cover is that it provides lifelong coverage and can be used to cover funeral expenses, pay off debts or provide an inheritance to loved ones. It can also be used for estate planning purposes.

However, Whole of Life Cover tends to be more expensive than term life insurance because the policy guarantees a payout regardless of when the policyholder dies. The premiums are typically higher because the policy is expected to pay out at some point in the future.

It’s important to note that Whole of Life Cover policies can have different features and options, such as investment options, flexible premium payments, and the ability to accumulate cash value. It’s important to carefully review the policy terms and conditions before deciding if Whole of Life Cover is the right option for you.

What is Redundancy Cover?

Redundancy cover is a type of insurance policy that provides financial protection to individuals who may lose their job due to redundancy. This type of cover can help cover your essential living expenses, such as mortgage or rent payments, bills, and other outgoings, while you are out of work and looking for a new job.

Typically, redundancy cover pays out a tax-free monthly income for a set period, such as up to 12 months, or until you find new employment, whichever comes first. The amount of cover you can receive depends on the level of protection you choose when you take out the policy, which can be tailored to your individual circumstances and budget.

It’s important to note that not all redundancy situations may be covered under a redundancy insurance policy. Some policies may have specific exclusions or require you to meet certain criteria, such as being employed for a certain length of time, before you are eligible to make a claim. It’s important to read the terms and conditions of any policy carefully to understand the cover provided and any limitations or exclusions that apply.

What is Buildings & Contents Cover?

Buildings and Contents Cover is a type of insurance policy commonly available that offers protection for your home and the possessions within it.

Buildings cover typically includes the physical structure of your home, including its walls, roof, floors, and any permanent fixtures such as fitted kitchens or bathrooms. This cover can provide protection against damage caused by events such as fire, flood, storm, or subsidence, as well as cover for the cost of rebuilding your home if it is destroyed or damaged beyond repair.

Contents cover, on the other hand, typically covers the contents of your home, including furniture, appliances, personal possessions, and valuables such as jewellery and electronics. This cover can provide protection against damage, loss or theft of your possessions, as well as cover for the cost of replacing them.

It’s worth noting that buildings and contents cover can be bought separately or together as a combined policy, and the level of cover and cost will vary depending on your individual circumstances and the insurer you choose. It’s important to carefully review the policy details and compare different options before choosing a policy that best meets your needs.

What is Landlords Cover?

Landlords cover, also known as landlord insurance, is a type of insurance policy designed to protect landlords against potential financial losses and liabilities associated with renting out their properties.

Landlords cover typically includes a range of different types of cover, including buildings cover, contents cover, and liability cover. Buildings cover protects the physical structure of the property, including any fixtures and fittings, against damage from events such as fire, flood, or subsidence. Contents cover protects any contents within the property that belong to the landlord, such as furniture and appliances.

Liability cover is also an important component of landlords cover. This type of cover protects landlords against potential claims for compensation from tenants or members of the public who may be injured or suffer damage to their property as a result of the landlord’s negligence.

Other optional components of landlords cover may include rent guarantee insurance, which can provide cover for lost rental income in the event that a tenant fails to pay their rent, and legal expenses insurance, which can help cover the cost of legal fees associated with disputes between landlords and tenants.

It’s worth noting that the specific coverage and cost of landlords cover will vary depending on the insurer and the level of coverage required. Landlords should carefully review policy details and compare different options to choose a policy that best meets their needs.

The Financial Conduct Authority does not regulate building surveyors.

Thameside Mortgage Ltd are not regulated by The Royal Institution of Chartered Surveyors, we do not have any involvement in the provision of this type of service / activity. We are not qualified surveyors and the information provided on this website is for informational purposes only. The information provided is not intended to be a substitute for professional advice, inspection, or survey.

It is important to seek professional advice and to undertake a proper survey/inspection before making decisions or taking actions related to a property.

What Our Clients Are Saying

  • Absolutely the best, most helpful and speedy broker I've ever worked with - Thameside sorted everything including finding the right mortgage and insurances for me, guiding me through the applications and keeping me posted throughout the process. Particular thanks for their endless patience with me dithering over every decision, but because of their honest and clear advice, I'm completely comfortable I've made the right choices. I really couldn't recommend these guys enough!

    Kate D Avatar Kate D

    Introduced to Mr Sheen in 2016 and using his services for me and my family since then. When I was looking for the second mortgage, I was unable to find him at his earlier employers, as he had meanwhile started Thameside Mortgages. I spent two days on internet, found him and contacted. I appreciate 7 respect his services, integrity & professionalism.

    Rajen Saraswati Avatar Rajen Saraswati

    Fantastic guidance and service all the way through the process of our purchase. Very quick to respond to our questions and would certainly recommend.

    Aaron Jago Avatar Aaron Jago
  • I couldn't recommend Thameside Mortgages enough - they helped me with my life insurance and Laura was so helpful and so patient with me! Andrew clearly has incredible knowledge and was very supportive and considerate when discussing all of my options. Laura was brilliant at following up and helping me through the process and was very quick responding to any queries that I had. Will most definitely use them again for any further business that I have, A* service - thank you so much!

    Ceri Morgan Avatar Ceri Morgan

    I've been working with Andrew and his team for a few years now. After recently completing a re-mortgage with Thameside I thought I'd leave a quick review to help others looking for help with the mortgage and to show my appreciation to everyone at Thameside. Their customer service is fantastic. Each time the process is completely stress free. The team are knowledge and always willing to go above and beyond to help make the process go smoothly. They take the time to explain the products they offer in a way that is easy to understand. They are profession and personable at the same time. I especially like the person touches the team do, like sending a thank you card on completion. I would highly recommend the services they offer. Keep up the good work Thameside.

    Surj Avatar Surj

    Andrew, Laura and the Thameside team were fantastic and delivered a brilliant result for us. They were able to secure two competitive mortgages for our remortgage and new house purchase. These were secured in a matter of weeks and then Thameside guided us through a tricky exchange and completion process with minimal fuss and stress. Thank you Thameside for a providing a wonderful service and we’ll sure to be back again in the future!

    William McCann Avatar William McCann
  • I genuinely can't thank Andrew and Laura enough for all of their hard graft through a very stressful process! The sleepless nights have been totally worth it!! I couldn't have done this with out your superb guidance. Professional, caring, excellent communication, explations to a solo first time buyer that doesn't always understand the jargon that comes with process. I was told by several people I didn't earn enough, needed a partner, better paid job to get on the property ladder. Andrew took this as a challenge and found me an excellent mortgage deal, twice!! I am so, so happy that I chose them to make this a lot easier. I genuinely can't recommend Thameside Mortgages enough. Forever grateful!

    Lauren Cosgrove Avatar Lauren Cosgrove

    Fantastic service from start to finish. Andrew and Laura assisted with the purchase of mine and my partners first home, it was great to know that we were in safe hands throughout. Highly recommend!

    Noah Kirby Avatar Noah Kirby

    Couldn't recommend Thameside Mortgages enough, both Andrew and Laura have and continue to be a huge support in the process for us. We have been kept up to date at all times, provided as much information as possible and have received helpful responses to any queries we have had. They have made a stressful process much easier and we couldn't have wished for a better service.

    Laura Ward Avatar Laura Ward
  • Thameside Mortgages have been outstanding. Very helpful and prompt. They helped me when no one else would. I recommend Thameside Mortgages to anyone who is looking to get a Mortgage!

    jack foreman Avatar jack foreman

    Great service from start to finish, made the whole process very smooth and easy

    Chris Lewis Avatar Chris Lewis

    Brilliant service from start to finish. Andrew and the team were friendly, knowledgeable and available at every step of the way during the remortgage process ensuring it went smoothly and were always available to help. Would thoroughly recommend.

    Pietro Boffa Avatar Pietro Boffa
  • We've bought our first home with Thameside Mortgages and it was a wise decision to choose them over others. Andrew made sure that everything is done for us and helped us beyond our expectations. Both he and Laura are very responsive, professional and welling to help anytime is needed. Our journey was a long one, being a chain but they stood side by side with us the whole process even in this difficult time. If I should choose again I would definitely choose them again. I recommend them 100%. Well done Thameside Mortgages 👌

    Partene Ramona Avatar Partene Ramona

    Andrew and his team did an amazing job on our mortgage and the surrounding process. We had our offer in principle within 24 hours of contacting them. The on boarding was seamless and laura kept us updated with progress from our solicitors throughout the wider conveyancing process which means we were always well informed. I would not hesitate in recommending them to anyone

    Phil Wrigglesworth Avatar Phil Wrigglesworth

    I could not recommend Thameside Mortgages More! Andrew is always fantastic to deal with, he is always extremely responsive, supportive and helpful! Thanks to the team at Thameside and Andrew for your constant support!

    Larissa Tait Avatar Larissa Tait
  • Thameside Mortgages have been fantastic. They helped me through the whole mortgage process and were totally supportive. I was not only trying to buy a house but also remortgage my old one at the same. I can t tell you how stressed I was but Andrew and Lydia were amazing and walked me through the whole process. They will always do their best to help you. Believe me you are in safe hands with them. Thanks Sharon

    Shaz Call Avatar Shaz Call

    Andrew and Laura have been very helpful every time we have spoken to them. They have quickly processed our transactions and responded to any issues immediately. We highly recommend Thameside Mortgages and all the services they offer. Thank you for helping us through our recent propert purchase.

    Gilly Wright Avatar Gilly Wright

    Andrew and Laura were attentive to all our needs and gave us all the facts to help us make informed decisions. They were more than happy to answer our many many questions and always did so in a very timely manner. We had some issues with our solicitors taking too long to action paperwork but both Andrew and Laura chased things up on our behalf. The support and guidance along the way was definitely appreciated. We shall definitely use Thameside Mortgages again!

    Alison King Avatar Alison King
  • I am so glad that we worked with Thameside Mortgages for the purchasing of our first home. From initial enquiries, guidance whist making an offer on the house, to getting a mortgage offer & insurance options, we cannot fault their service! Jason always made us feel informed, in control and aware of all our options. 10/10 and we would definitely recommend to our friends and family! Thameside eliminated all the fears & stress we thought we would have, and made the experience easy and clear. Thank you very much!

    Sainimili Kata Avatar Sainimili Kata

    My partner and I have used Andrew and his team several times now and will continue to do so, or recommend him, wherever possible. Whether it’s a mortgage, buildings, contents or life insurance, Andrew and his team, without fail, go above and beyond in delivering an exceptional service and client experience from start to finish. Andrew and his team respond speedily by email and/or make themselves available to speak directly. Their insight is incredibly valuable and offer kindness and patience too at a time when decisions can be more challenging. Additionally, Andrew has offered suitable products where other advisers have been unable. Thank you Thameside - you are absolutely our ‘go to’ and your service is genuinely appreciated at a time when it is needed!

    Claire Shepherd Avatar Claire Shepherd

    Andrew and the team at Thameside Mortgages provided a fantastic service throughout our re-mortgage process. From detailing how it all works and what steps we have to take along the way with taking care of our best interests. Andrew was also able to sort out life insurance for me and my partner ensuring we are protected with what we seemed necessary. I very much look forward to using Thameside Mortgages in the future and would recommend anyone else to do so.

    Jordan Smith Avatar Jordan Smith
  • I've used Andrew from Thameside Mortgages twice now, i'd highly recommend his service. The information provided was very in-depth and easy to understand. My most recent mortgage offer was about to complete, when Andrew called and had found a better rate and saved us more money which was a lovely surprise 🙂 Would use his service again!

    matt grix Avatar matt grix

    I recently used Thameside Mortgages and their recommended solicitors when purchasing my property I can’t recommend them enough! Not only do I feel that I ended up with a very competitive mortgage, from start to finish the team kept me up to date on the progress of my mortgage application and the conveyancing process. They were always very quick to reply to any questions I had and I credit them with helping me exchanging contracts within just 7 weeks. Andrew, Lydia and Laura, thank you so much for all your help. I can’t thank you enough!

    Erin LaBelle Avatar Erin LaBelle

    Thameside were amazing! Made the process completely stress free and felt informed throughout. I’ll go with them every time.

    Ellie Blackall Avatar Ellie Blackall
  • Thameside mortgages made getting a mortgage so easy ,even for a tech phobe like myself Laura was so professional ,always their to answer any questions I was kept up-to-date through the whole process ,no stress at all Would recommend to anyone ,5 * isn't enough Massive thank you to Andrew & Laura Well done

    Cheryl Zammit Avatar Cheryl Zammit

    I had a fantastic experience with Thameside Mortgages, Jason was extremely proactive throughout the entire process and was a pleasure to work with. He was very patient and knowledgeable which helped reassure me as a first time buyer, an absolute asset. All my questions were answered swiftly and he would constantly check in with me throughout what ended up being a long drawn out process. I highly recommend.

    Jordan Shodeinde Avatar Jordan Shodeinde

    This is the 3rd time I have used Thameside Mortgages , I was so impressed with their professionalism and quick response. They helped me through every step of the way and continue this service after completion. It was such a pleasure throughout the whole process , I would definitely recommend this company to all my friends and family . Mrs Pamela Payne

    Pamela Payne Avatar Pamela Payne
  • Andrew and Laura provided an exceptional service and my partner and I are extremely grateful for their services. They were both on hand to answer any questions or queries without hesitation and provided clear, concise and accurate information. As first time buyers and with one of us being self employed, it proved extremely difficult for us to get a mortgage (especially in a pandemic), however Laura and Andrew both went above and beyond to ensure we were looked after and for that we are extremely thankful.

    Hazel McCarthy Avatar Hazel McCarthy

    We used Thameside Mortgages for the purchase of our first home. We had both a professional and brilliant service from Andrew and his team. I would highly recommend Thameside Mortgages. They go above and beyond and guided us through the whole process. Thank you so much Andrew.

    Alice Gedge Avatar Alice Gedge

    Having used a number of mortgage advisors in the past, I can say that Thameside were a breath of fresh air. We have an unusual situation and were told we couldn’t get what we needed from other advisors. Thameside were able to arrange a mortgage and kept us updated constantly and were available any time to discuss all the usual issues. Highly recommend to anyone looking for a mortgage.

    Christian Willmore Avatar Christian Willmore
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