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
The Financial Conduct Authority (FCA) has published a discussion paper about the future of the mortgage market in a bid to improve access for first -time buyers, self-employed, and those borrowing in retirement.
Ever wondered where the most reasonably-priced towns for families to buy are? Property company, Zoopla has identified the top 10 towns for families to live in the UK by looking at the most affordable towns, and how many people are looking in that area.
Increase in zero-deposit mortgages in 2024
10 days ago
There was a 32% increase last year in 100% loan-to-value (LTV) mortgages which are mortgages that require zero deposit. According to a recent report by chartered accountants and business advisers, Lubbock Fine, the reason behind this is buyers simply struggling to save enough for a deposit.
Average savings by age in the UK
11 days ago
Many people are quite private when it comes to what is in their bank account. In this short blog, we look into what Brits have saved by age group.
Research from buy-to-let lender, Landbay, shows that UK landlords are looking at raising rents ahead of the Renters' Rights Bill which is due to come into force this year.
Data shows landlords could miss out on green mortgages due to expired energy performance certificates.
Buying a house is a big deal, and where you are planning to buy will make a difference financially. In this short blog, we look at the most affordable and most expensive areas and how much you need to be earning to buy in there.
Pros and Cons of Equity Release
20 May 2025
Equity release is a type of mortgage that allows homeowners 55 and over to access money from their property's equity without having to leave their home. This is done by securing a loan against the house which is usually repaid by selling the property when the borrower passes away or has to move into long-term care.
More information
Trusted by
