Speak to our Experts: Tele 07919350460
Mortgage Protection
The word "mortgage" refers to a French translation, from mort (dead) and gage (pledge). Literally translated it is a loan you pay until you die, however, in recent times the term mortgage isn't quite so literally spoken!
It is generally a loan that is repaid, either as a lump sum at the end of a term with interest being charged throughout the term, or with regular monthly repayments, made up of capital and interest. The loan, is lent by high-street banks, but can also be lent by more specialist lenders.
*Please note our services are tailored towards UK residents and domiciled persons.
Speak to our Experts:
Mortgage Protection
The word "mortgage" refers to a French translation, from mort (dead) and gage (pledge). Literally translated it is a loan you pay until you die, however, in recent times the term mortgage isn't quite so literally spoken!
It is generally a loan that is repaid, either as a lump sum at the end of a term with interest being charged throughout the term, or with regular monthly repayments, made up of capital and interest. The loan, is lent by high-street banks, but can also be lent by more specialist lenders.
*Please note our services are tailored towards UK residents and domiciled persons.
As the lender likes to ensure they get their money back, if you become unable to repay the loan (default), the loan is secured to something which carries a greater value than the loan itself. Often, linked to the property and/or land but could be to another asset of value.
The obtain the mortgage (loan), involves a rigorous application process, whereby the lender will assess your credit history, ability to service the loan with income, and the property itself.
There are several types of mortgage and rates charged, so you are best to speak to one of our advisors who can help steer you in the right direction.
Lifetime Mortgage
A Lifetime mortgage allows older borrowers, usually from age 55, to receive our quality advice, to help arrange a mortgage on your home or property, to help release the cash, either as a lump sum or regular drawdown payments, to help support you in later life
This type of mortgage works, and is regulated in the same way as a regular mortgage, so it can protect your interest in your property for the benefit of you and your loved ones. It does not require monthly repayments, although with some plans rather than roll up the interest you can opt to make monthly repayments if you wish.
We took the decision not to advise on schemes that allow the provider to take ownership of your home upfront, such as Home Reversion schemes.
We believe the borrower should be allowed the opportunity to keep their home until they pass away or go into care.
We think it is very important to advise you as to whether a Lifetime Mortgage is better suited to other types of mortgage. We can advise you which is best suited. We also think that you need to understand the terms and conditions before entering into any loan agreement and you should always take independent legal advice.
As the lender likes to ensure they get their money back, if you become unable to repay the loan (default), the loan is secured to something which carries a greater value than the loan itself. Often, linked to the property and/or land but could be to another asset of value.
The obtain the mortgage (loan), involves a rigorous application process, whereby the lender will assess your credit history, ability to service the loan with income, and the property itself.
There are several types of mortgage and rates charged, so you are best to speak to one of our advisors who can help steer you in the right direction.
Lifetime Mortgage
A Lifetime mortgage allows older borrowers, usually from age 55, to receive our quality advice, to help arrange a mortgage on your home or property, to help release the cash, either as a lump sum or regular drawdown payments, to help support you in later life
This type of mortgage works, and is regulated in the same way as a regular mortgage, so it can protect your interest in your property for the benefit of you and your loved ones. It does not require monthly repayments, although with some plans rather than roll up the interest you can opt to make monthly repayments if you wish.
We took the decision not to advise on schemes that allow the provider to take ownership of your home upfront, such as Home Reversion schemes.
We believe the borrower should be allowed the opportunity to keep their home until they pass away or go into care.
We think it is very important to advise you as to whether a Lifetime Mortgage is better suited to other types of mortgage. We can advise you which is best suited. We also think that you need to understand the terms and conditions before entering into any loan agreement and you should always take independent legal advice.
FREQUENTLY ASK QUESTIONS
A mortgage is a legal agreement to borrow money from a bank or other financial organization, especially in order to buy a house or other property. You can get a mortgage by applying for one and receiving approval from the lender.
A mortgage life insurance policy pays a death benefit to the the life assured if they pass away during the term. It is typically purchased by the mortgage holder and is paid to their estate, rather than to the mortgage lender
Mortgage protection insurance is not a requirement when taking a mortgage. However, does help protect your family if the worst happens during the mortgage term.
FREQUENTLY ASK QUESTIONS
A mortgage is a legal agreement to borrow money from a bank or other financial organization, especially in order to buy a house or other property. You can get a mortgage by applying for one and receiving approval from the lender.
A mortgage life insurance policy pays a death benefit to the the life assured if they pass away during the term. It is typically purchased by the mortgage holder and is paid to their estate, rather than to the mortgage lender
Mortgage protection insurance is not a requirement when taking a mortgage. However, does help protect your family if the worst happens during the mortgage term.
Insurance is available for up to 12 years. May I assist you? As specialists in this field, we are happy to guide you through the process of arranging insurance-backed guarantees.
Discover the advantages of an insurance-backed guarantee and how it can provide added security and peace of mind. Learn how these products work and the types of events they cover, as well as the different risks and costs associated with them.
We’ll also help you understand the potential benefits and drawbacks of a particular product, and provide tips and advice on how to choose the best coverage for your needs.
We Work With Companies You Can Trust,
Including
We Work With Companies You Can Trust, Including
Are you covered?
Don't wait until it's too late.
Make sure you and your loved ones are protected with the right insurance.
Simply. Discuss with our team the best solution.
Receive a Quote. Insure your family.
Go about your day knowing we have your family covered.
Get A Quote Immediately
Tailored For Your Requirements
Are you covered?
Don't wait until it's too late.
Make sure you and your loved ones are protected with the right insurance.
Simply. Discuss with our team the best solution.
Receive a Quote. Insure your family.
Go about your day knowing we have your family covered.
Office 1, Unit 2B, Bodmin Road, Coventry, CV2 5DB
enquiries@quoteinsurego.co.uk
Mon-Sat 8am to 5pm
Get A Quote Immediately
Tailored For Your Requirements
Menu
Our Services
Copyright 2022 Powered By SEO Outrank
Office 1, Unit 2B, Bodmin Road, Coventry, CV2 5DB
enquiries@quoteinsurego.co.uk
Mon-Sat 8am to 5pm
Menu
Our Services