11
Dec
Tips for buying mortgage protection insurance
A leading mortgage protection company has issued a series of top
tips for homeowners looking to protect their mortgages.
According to Lifesearch, it is imperative that customers who are
opting for mortgage payment protection insurance ensure that they
also consider income protection.
Matt Morris, policy adviser at Lifesearch, said: "Many people
consider protecting their mortgage, but they usually select a
policy that will pay it for them when they can’t work. What
they actually should be protecting is their income, which not only
pays the mortgage, but also pays all the other bills and the
everyday cost of living."
Also important is that mortgage holders shop around for the best
deal, since significant savings can often be made this way.
Furthermore, borrowers should never borrow more than they can
afford and should always seek independent advice before buying, Mr
Morris said.
