Mortgage Payment Protection

Mortgage payment protection insurance pays out a sum of money to cover monthly loan repayments if you no longer receive a salary due to accident, sickness or unemployment.rs

This payment protection insurance is optional.  In addition to the mortgage provider, there are other providers of payment protection insurance and other products designed to protect you against loss of income.

A good source of advice and impartial information about insurance can be found at www.moneyadviceservice.org.uk

The typical cost of mortgage payment protection insurance is £5.02 per £100 of monthly benefit.  This is based on someone aged 35 and with a 30 day waiting period.