When looking for their perfect home and the mortgage to match, buyers can often forget about the important assurances and protections that accompany mortgages. In particular, life assurance is extremely important for ensuring that your loved ones are protected should the worst happen.
Essentially mortgage protection means a type of life assurance that will pay out in the event of your death if you have not finished paying off your mortgage. This will mean that your family or dependents will not have the worry of meeting the monthly repayments left behind on the mortgage, giving them peace of mind.
There are a number of different options for life assurances on your mortgage deal, including decreasing term life cover, being the most common type. Decreasing term life cover means that the payments only reflect what is left to pay on the mortgage in question. Another available option is level term, which pays out a set lump sum in the event of your death within an agreed fixed term. We have been dealing with mortgage assurances for 20 years, and as such have the expertise to help you identify which option suits your needs best
The Mortgage Centres have offices in Ipswich, Stowmarket, Needham Market, Felixstowe, Woodbridge and Leiston, meaning that we are ideally placed to help applicants throughout Suffolk. Each of our branches have a team of experienced professional mortgage advisers who will be able to guide you through the process of obtaining your life assurance policy.
The Mortgage Centres are fully committed to providing a professional service and the best life assurance options to all applicants who come through our door. If you would like to learn more about the life assurance options available to you, then please get in touch with your local branch.