We can provide you with this type of cover for as little as €3 per week. You’re already paying several
different types of insurance so we aim to offer our customers the best rates possible. Together we can look over your mortgage and discuss what will suit you best. Before you go forward though it is important for you, and indeed us that you understand what mortgage protection actually is.
Let’s say you have a deposit saved, but it falls slightly short of the usual 10%* of the house price.
The lender will need to have some kind of assurance that any short fall can be paid in the event of repossession, illness or death. The lender can’t be protected against lowering property prices.
Having initially paid out for example €350,000 for the mortgage, the home is now worth maybe
€270,000. So who pays the €70,000 shortfall in the event of your death? Most lenders will refuse a
mortgage where the buyer has not sought mortgage protection.
Mortgage Protection Starts from as little as €3 Per Week?!
The main point to mortgage protection for you is the fact that the balance on your mortgage will be
paid if you die. Unlike other forms of insurance though, there will not be a payment to your family.
This is why this particular type of protection is one of the least expensive. A benefit to this type of
cover, unlike many others is that the cost of the cover will reduce in line with the balance of your
mortgage.
There are different policies that will make a payment to your family but a great number
of people like you are aiming to keep monthly outgoings down. Knowing your family’s wellbeing is
safeguarded for as little as €3 per month is at least one thing ticked off the list.