Mortgage protection

slimzee

Hi

Where is the best place to get a mortgage protection plan from? Im only after protection for unemployment. I have a stable job at the moment but plan to start applying for new jobs due to financial reasons.

I have been browsing the Britania website from what I gathered it will cost me 27 pounds to cover a 900 pounds mortgage, it says no claim can be made in 90 days. I am going to visit a local branch this week and will enquire if its acceptable to change jobs while policy is in place.

Any other reputable companies for this sort of insurance?

Many thanks.

payless

most plans for existing borrowers come with an initial exclusion period, and whilst 90 days is the most common , some are available lower, the price you mention is again about right- although again some are cheaper - even for back to day 1 cover. I would suggest you speak to an adviser ( or 2) to see if you vcan get better terms , as it unusual for the banks/BS to offer market leading rates.
You could look on comparison sites but of course not all providers are listed and you need to understand the different terms/ small print.

As for job changes most ( but not all- so check!!!) say

You need to be in permanent employment for 6 months prior to
becoming unemployed-

so a straight swap with no days inbetween is usually OK - so long as new job is perm + not aware of pending issues ( ie with employed company when starting plan + also I would say if giving up a "safe" job to move to a firm with restucturing plans )

opinions4u

Loads of options available via this link but as the post above suggests you need to check all the small print carefully to make sure it meets your needs.

payless

In particular don't confuse the initial exclusion period and the excess period - both can apply