Mortgage Protection Schemes

A mortgage is a big investment. About the biggest investment we’ll ever make. So it’s surprising that we don’t all take better care of that investment. Many of us prefer to put our faith in stars and stability; in just about anything other than a mortgage protection scheme. But why? Perhaps we just don’t realize what’s on the line if we miss a mortgage payment or two. After all, what’s the worst that could happen…?

A mortgage is one of the priority debts. In other words, it’s a big responsibility. Any failure to satisfy the requirements of our agreed repayment plan are taken very seriously by our creditors. Mortgaging is a big business, but lenders aren’t in it for the good of us home owners. In order to secure their investment, our loans are secured on our houses. And that means our houses are on the line. Lock, stock and barrel.

We don’t need to be too alarmist about all of this though, surely. It’s not always that cut and dried is it? After all, times are good for many of us. We’ve got our jobs, we’ve got our savings; we’ve got our health. So there’s simply no need to invest in a mortgage protection scheme – right? Provided we’ve got a job for life; provided our health stays good, and provided the unexpected never happens, then maybe. But if, on the other hand, something happens to queer our deal with destiny, then we might begin to wonder if our cast iron certainties really did us any good after all.

A mortgage protection scheme will safeguard us against everything fate can throw at us. Just as well, because the state won’t. Think our taxes and national insurance payments will help bail us out if we lose our job? Think again. Benefits and government funded support are partly based on our savings. Ironically even our at-risk property will count against us. And yet around 75% of us would still prefer to trust in the vagaries of a state benefit than invest in a mortgage protection scheme that will safeguard our homes against repossession. What makes it all the more surprising is that with so many money saving mortgages on the market, we can all afford to invest in a mortgage protection scheme and still have money left over at the end of every month to paint the fence, eat out, or save for a rainy day. And a mortgage protection scheme is potentially the best money saving incentive we’ll ever sign up to. What bigger rainy day saving could you want?

Mortgage protection schemes are all about reassurance – and it’s reassuring to know that individual cover plans are available to meet your specific requirements. You won’t have to worry about a care-all package that somehow manages not to care, or a high premium protection scheme that gives you more cover than you even need. Your mortgage protection scheme can be designed and paid to give you maximum protection. Tailor your scheme to cover accident, sickness or unemployment. Tailor your scheme for your reassurance.

The price for complete peace of mind is negligible – particularly given the breadth of cover you’ll get in return. For a few pounds a month you will receive the absolute assurance that if, for whatever reason, you become unable to make your repayments, you won’t have to worry about being evicted, or being summoned to court; you won’t even have to worry about where the next several month’s mortgage payments are going to come from. You can even design your scheme to give you the precise length of cover that you think is appropriate. Premiums will increase in line with the length of cover required. Cover for twelve months is typical – and affords you a whole year of fully subsidised mortgage payments while you get back on your financial feet.

The contemporary job market may not give you a job for life, but your mortgage protection scheme will support you if you suddenly find yourself out of work. Mortgage lenders won’t think twice about repossessing your home in the event of non payment, but your mortgage protection scheme will ensure you stay paid up, even if you’re laid up. Mortgage protection schemes aren’t just a good idea, they’re a potential life saver, home saver, marriage saver and so much more.