UK mortgage payment protection insurance is one of the best things to happen to the mortgage industry in the last few years. However, high street banks and lenders recognised an opportunity to make a profit when they saw one, and this often clouds the general publics judgement of the product. Many dismiss UK mortgage payment protection insurance before probing into it as far as they should to see what it ca actually do for them.
UK mortgage payment protection insurance is a protective policy that will pay out for up to 24 months if an individual is sick, injured as the result of an accident or involuntarily unemployed. All three situations would result in an individual being unable to work for a period of time and thus would jeopardise the financial security of a household in the ensuing months, if not years. It would certainly mean that it would be a struggle to keep up with mortgage repayments.
UK mortgage payment protection insurance will pay the mortgage and related bills, such as home and contents insurance, for the period of time laid out in the terms and conditions of the policy. Anybody over the age of 18 and up to the age of 64 is eligible for UK mortgage...
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