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Do I need mortgage payment protection - and if so which one ?
Mehullakhani
Posts: 65 Forumite
Hey guys
Have just bought my new flat, and have a £100k mortgage. I have not yet taken out any sort of mortgage protection scheme, incase I lose my job, get ill etc etc.
The total value of the flat is £270k, and I put the rest down as a deposit. So in relative terms the mortgage is less than 50% of the value of the house. It is a leasehold flat, I am 25 non-smoker, non-drinker, single, and a professional.
I am just wondering what sort of policy I should get, and also how much I should be looking to pay each month. Any good links would be appreciated.
R
Mehul
Have just bought my new flat, and have a £100k mortgage. I have not yet taken out any sort of mortgage protection scheme, incase I lose my job, get ill etc etc.
The total value of the flat is £270k, and I put the rest down as a deposit. So in relative terms the mortgage is less than 50% of the value of the house. It is a leasehold flat, I am 25 non-smoker, non-drinker, single, and a professional.
I am just wondering what sort of policy I should get, and also how much I should be looking to pay each month. Any good links would be appreciated.
R
Mehul
0
Comments
-
It really depends on you and your situation.
Your employer may offer some benefits which may make the ASU surplus, or it may be that a different type of income protection/ASU is required (unemployment only for example).
What is right for one person, isnt right for another.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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