Housing Market to Drop Further Before it Stabilises
All the recent reports suggest that the housing market is flagging and will need to drop further before it stabilises.
This has opened the door, quite literally, to those house buyers who may never have dreamed of being able to afford their first home.
Sadly it also comes at a time of a severe fiscal tightening that is suggesting up to 600,000 public sector jobs may have to go with many more in the private sector.
This should not prevent you from getting your foot on the ladder but it should be done with caution and protection.
Mortgage Protection Insurance is a policy designed to protect your mortgage repayments should you lose your income through accident, sickness or unemployment.
It is an insurance policy that most people consider to be an additional and costly expense but it could be the one expense that saves the roof you have just bought from falling in.
The mortgage protection is designed to pay you up to 12 consecutive monthly payments to help you continue to meet your monthly mortgage obligations should you suddenly lose your income.
This gives you valuable breathing space.
Undoubtedly you will be offered a Mortgage Protection Insurance policy by your provider, although it can also be called a Lifestyle Insurance or Income Protection Insurance; they all do a similar thing.
You can of course purchase Mortgage or Income Protection Insurance through your provider but you will be advised that you can purchase it elsewhere.
There are very good standalone internet providers who will offer considerably cheaper premiums and you have the added advantage of being able to look through the Terms and Conditions are your leisure rather than feeling pressurised to comply whilst obtaining your mortgage.
Buying this cover is more important than ever during these times but having it in place before you lose your job is paramount.
The exclusion period attached means that if you are notified during this exclusion period of impending unemployment you will not be able to claim.
If you are currently employed, thinking of buying your own home (or even if you already have your own home), now is the time to look for Mortgage Protection Insurance.
This has opened the door, quite literally, to those house buyers who may never have dreamed of being able to afford their first home.
Sadly it also comes at a time of a severe fiscal tightening that is suggesting up to 600,000 public sector jobs may have to go with many more in the private sector.
This should not prevent you from getting your foot on the ladder but it should be done with caution and protection.
Mortgage Protection Insurance is a policy designed to protect your mortgage repayments should you lose your income through accident, sickness or unemployment.
It is an insurance policy that most people consider to be an additional and costly expense but it could be the one expense that saves the roof you have just bought from falling in.
The mortgage protection is designed to pay you up to 12 consecutive monthly payments to help you continue to meet your monthly mortgage obligations should you suddenly lose your income.
This gives you valuable breathing space.
Undoubtedly you will be offered a Mortgage Protection Insurance policy by your provider, although it can also be called a Lifestyle Insurance or Income Protection Insurance; they all do a similar thing.
You can of course purchase Mortgage or Income Protection Insurance through your provider but you will be advised that you can purchase it elsewhere.
There are very good standalone internet providers who will offer considerably cheaper premiums and you have the added advantage of being able to look through the Terms and Conditions are your leisure rather than feeling pressurised to comply whilst obtaining your mortgage.
Buying this cover is more important than ever during these times but having it in place before you lose your job is paramount.
The exclusion period attached means that if you are notified during this exclusion period of impending unemployment you will not be able to claim.
If you are currently employed, thinking of buying your own home (or even if you already have your own home), now is the time to look for Mortgage Protection Insurance.
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