Mortgage protection (otherwise known as Mortgage Payment Protection Insurance, or MPPI) is a type of insurance that covers the cost of your mortgage payments in the event that you stop working due to an accident, sickness, or redundancy.
Morgan Financial Solutions’ mortgage and protection advisers are ready to provide advice on mortgage protection – it is an area of finance that is very important, and sometimes can make the difference between you losing your home or not.
Our mortgage and protection advisors will work with you to take into account your financial position, and any other contributing factors such as redundancy pay, health etc. to ensure that you get the best possible deal on your MPPI for what you need. As Morgan Financial Solutions are independent financial advisors we are able to scour through the entire market to find the right deal for you.
Most mortgage protection products will only start to pay out 30-60 days after you have been out of work, and most will not continue to pay out for over a year. This can be a crucial thing to consider when it comes to ensuring your financial security. Your mortgage adviser will work through all of your options with you, including putting together a saving and spending plan if necessary to ensure you have the funds needed to move forward.
Mortgage protection can make a huge difference should the worst happen – make sure you’re in the best possible position if it does.