Confused

mancitychick

Hi
We are in the process of buying are first house. mortgage offer received offer excepted etc.. just waiting for solictors to do there bit.

I know we need to get contents and building insurance - both essential. Also going to take out life assurance to clear the mortgage if the worse should happen. Still undecided on the critical illness insurance.

What I am stuck on is whether or not mortgage payment protection insurance is worth it. I never take ppi on loans, car hp & credit cards etc.. as I have always viewed it as someone else after your money. But Mortgage is a hugh commitment.

So any advice or opinions would be hughly appreciated.

Cheers

telly-addict

Will probably all depend upon your financial and employment circumstances. If you are employed and have a decent financial package (sick pay, redundancy terms, etc.), then mortgage payment protection is probably unnecessary.

If you are self-employed or are employed with a less attractive financial pacakge, then you may to consider the protection that this cover offers.

It's pretty well personal preference. From my own experience, the cost generally seems pretty high for a cover that seems to have all sorts of exclusions. Not for me, but it might be appropriate for you!

Apologies if this isn't the yes/no answer that you were hoping for!!