Mortgage payment protection cover can be a valuable product to have in your corner if you should find yourself incapable of working. Losing your income through accident, illness or unemployment could leave you struggling when it comes to the financial commitments of your mortgage. However, if you would be eligible to claim against a protection policy then payment protection for your mortgage could provide you with a tax-free income. You do have...more
When it comes to buying mortgage protection cover it can still be hard to understand the exact nature of the cover, depending on where you buy your policy. Despite guidelines being set out by the Financial Services Authority many providers are still not giving adequate information at the time of selling the product. This is leaving many consumers unaware of the exclusions that exist in their cover, which can stop them from being eligible to...more
Individuals who rely on State support if they lose their income could be at risk of losing the roof over their heads. While some help towards the interest part of the mortgage can be available, you do have to qualify and having more than £8,000 in the bank or a working partner could mean you lose out. Mortgage protection can take over where the State fails, providing you choose the correct policy that will pay out in your circumstances. While you do have to qualify for mortgage cover it does give far better protection for those who lose their income. The main exclusions include being of retirement age, suffering from a pre-existing medical condition, only working part time or being self-employed. The provider can also include other exclusions so you have to read the terms and conditions thoroughly before taking out the cover. However, suffering from a pre-existing medical condition does not necessarily stop you from claiming. Providing the illness has not bothered you during the last two years you could still be eligible. Once you have decided that a payment protection policy is suitable you then have to find the cheapest possible quotes. Taking a policy that is offered alongside...more
When taken out correctly mortgage cover can be a real lifeline if the worst happens and you find yourself unable to work. However, if taken out without considering the terms and conditions and in particular the exclusions, then a policy could be nothing but a waste of money. It is essential that before you sign on the dotted line and commit to a...more
Not understanding loan payment protection is the number one fault associated with mis-selling. Providing cover is suitable then taking out a policy to cover your loan repayments can save you from getting into debt and give you peace of mind and the security of an income each month. This income is used to cover your loan or credit card repayments...more
Author: Arush KeerthiBeing a tenant is considered to be disadvantageous.This is mainly due to the fact that tenants often find it difficult to avail loans.Lenders usually hesitate to approve finance to such borrowers.However,this is no more the case.Now, even tenants can avail loans.There are lenders who provide finance to such borrowers. It is likely that you are a tenant with a bad credit score.You can still avail loans.You need not feel deprived of an opportunity to avail loans.Scores of borrowers have benefited from the services of financial experts.You too can benefit from their service.You just need to reach out to them for help.The rest will be taken care of by them.You can also look online for help.The process of securing these types of finances is very easy. It is true hat most of the applicants tend to have an adverse credit history due to CCJs,defaults on payments,rent or mortgage arrears or even bankruptcy!At the outset,the request for funds is turned down by lenders.It is likely that due to credit challenges,their request to avail loans has been turned down. However,there are a section of lenders who specifically provide loans to such borrowers.Borrowers with a...more
Providing you take the time to read the terms and conditions that come with a policy then loan cover can be a valuable asset. It is only when the consumer is ignorant of the exclusions and buys cover that has not been explained fully that problems...more
Payment protection cover has seen many problems over the last few years which have all had a negative effect on the family of payment protection products. One of the many problems associated with policies has been that they are 'pushed' alongside a...more
Those who have loan or credit card debts or a mortgage with repayments to make each month should give some thought as to how they would continue to make these payments if they were to lose their income. While you may turn to savings if an illness or...more
If you were to suddenly find yourself without an income, due to losing your job or being unable to work for health reasons, your lifestyle could change drastically. If you have monthly mortgage repayments to make you would still have to continue meet...more
To get the cheapest premiums and a quality policy you understand you need to shop around for loan protection cover. When taking out a loan the majority of lenders will offer loan protection cover alongside the money you are borrowing. However, very...more
Bad credit often poses a lot of problems for the borrowers who are in need of money. They too may have needs that require fulfillment. They may just want to take up money with the aim of improving their credit history. The borrowers for these...more