Once you have arranged your new mortgage it is important for you to consider what may happen if you were unable to meet the mortgage payments in the future.
You may have seen the following warning on the various paperwork that you have received regarding your mortgage ‘Your home may be repossessed if you do not keep up repayments on your mortgage’.
One of the events that may occur which could cause financial problems would be if you were to be diagnosed with a specified critical illness such as some forms of Cancer, Stroke & Heart Attack.
Any such event would be traumatic for you and your family but to then have to sell the family home as the mortgage payments were now unaffordable would be even worse.
For just a few pounds extra a month you should consider taking out some element of Critical illness cover which will provide a lump sum on diagnosis of a specified illness which could ensure that, if the worst were to happen, all or some of the mortgage would be cleared.
You may already have some cover in place and if so our ‘mortgage protection review service’ can ensure that the cover you have is sufficient and at the same time check that you are not paying too much.
Please request a callback today to see how bfp mortgages can help you with arranging this cover.