Insurance policies that protect your home, income or payments if you can no longer cover them yourself are an important part of buying a property. Taking out a mortgage is often a large investment and if you are unable to make the repayments you risk losing your property or home.
It’s important to think about every eventuality when it comes to your mortgage and income. For example, have you thought about how you would continue with your repayments or household expenses if you were out of work for a long period of time? What about your family or dependants? Could they afford the mortgage payments and bills if anything happened to you? Taking out an insurance or protection policy can provide you or your family with added security and stability in the event of redundancy, sickness or death. It can also ensure you’re covered against damage such as flooding, fire or burglary.
The process of taking out property-related policies or life insurance doesn’t have to be worrying or complicated. In many cases, it is simply a conversation to discuss your personal circumstances, which we then offer guidance on. If you have any financial concerns, you will be pleased to know payments can often be taken monthly, making the cost of protecting you and your loved ones more manageable.