Mortgage Protection

A mortgage is part of a wider household budget

Keeping your home secure involves more than meeting the next mortgage payment. If a borrower died or became unable to work, the household might also need help with bills, childcare and other debts.

Mortgage protection planning brings those needs together. It is not automatically one policy or a guarantee that every mortgage payment will be covered. We help you understand which risks each proposed policy is designed to address.

Match the cover to the commitment

Life insurance may provide money to help repay a mortgage after death. Critical illness cover may provide a lump sum following a covered diagnosis. Income protection may help replace a proportion of earnings during illness or injury, after an agreed waiting period.

The right combination depends on your mortgage balance, repayment type, remaining term, health, work and budget. We compare the policy features and explain how the cover would work in different circumstances.

Consider what you already have

Savings, employer sick pay and death-in-service benefits may provide some support, but their limits and conditions matter. Workplace cover can also change when you change jobs. We review existing arrangements before recommending additional protection.

• Your mortgage balance, term and repayment type
• Each borrower's income and employment benefits
• Current life, illness and income protection policies
• Essential spending and other debts
• The budget you can sustain for premiums

Review cover when your mortgage changes

Moving home, increasing your borrowing or extending the mortgage term can leave existing cover out of step with the loan. A review helps you understand whether changes are appropriate.

Do not cancel an existing policy simply because you have requested a new quote. New cover may have different conditions or underwriting terms. Your adviser will explain the implications and help coordinate any agreed replacement.