Posts tagged with ‘Mortgage Protection Insurance’

  • What Co-habiting Couples Need to Know About Mortgage Protection

    What is Mortgage Protection? Mortgage Protection Insurance covers the amount owed on the mortgage, should the mortgages borrower pass away, before the mortgage has been repaid in full. If there are two people named on the mortgage, the insurance is paid when the first person dies. Perhaps the biggest reason to take out Mortgage Protection Insurance is to avoid any situation where the mortgage borrowers dependents are left with debts they simply cannot afford, or in the worst case scenario, their home gets repossessed. But what happens in a co-habitation situation and the tax implications which might occur as a result? Co-habitation and Property Ownership The biggest area that concerns most co-habiting couples is property ownershi...