11 Dec

Tips for buying mortgage protection insurance

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.
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