Once you’re a homeowner, it’s only sensible to make sure your property is properly protected and insured against risk.
If you have a mortgage, you are required to insure your house against potential damage, subsidence, fire and other risks. You will also want to protect the value of your contents against these risks and theft. If you own the property subject to a mortgage then your lender will want to see evidence that you have at least insured the property before they will advance you the mortgage sum.
In addition to insuring your property though, you may consider it prudent to insure your life. After all, if the worst happens and you are knocked down by the proverbial bus, your property will become part of your estate and, crucially, it will still be held subject to a mortgage that needs to be repaid. If you have no spouse or children then you may feel that this can be somebody else’s problem, but if you have equity in the property you would best protect it by insuring your life and ensuring that if you die, you are able to leave your assets free and clear to your chosen beneficiary.
Exactly what insurance you will need and how best to arrange it is up to you and you may need advice to help you in this regard.
For more information contact us or speak to an mortgage protection advisor on 01628 507477.
Recent posts
Decorating Tips for Selling Your Property
17 days ago
Selling up? It’s important to make your house as appealing as possible to potential buyers. Good decorating can help with first impressions, and increase the perceived value of your property.
20 Budget-Friendly Activities
25 Aug 2023
With the cost of living affecting so many of us, we have made a list of budget-friendly activities and ideas for you.
Moving and Packing Tips for a Stress-Free Move
21 Jul 2023
Moving soon? It's never too early to get organised! Be prepared and avoid unwanted stress by checking out our list of tips to get you ready for moving day.
What is the UK Inflation Rate?
27 Jun 2023
Inflation simply put, is the increase in the price of something over time. The Office for National Statistics (ONS) tracks the prices of hundreds of everyday items and these items are updated to reflect shopping trends.
Debt Consolidation into a Mortgage
20 Jun 2023
We are often asked if it's good advice to consolidate “unsecured” debt (credit cards and loans etc) into your mortgage, the answer is, sometimes.
Parking Rules Explained
16 Jun 2023
When you’re looking to buy a home, and you own a car, you ideally want to know the rules on parking in the area. Parking rules can be confusing, even for the most experienced of drivers! This is why we have written this blog to help you.
Sources of Deposit to Buy a Property
6 Jun 2023
There are several potential sources you can consider when it comes to getting together a deposit to buy a property. Providing proof of the source of your deposit is a key requirement in the application process and will need to be given to both the lender and the solicitor.
More information
Trusted by
