Mortgage Payment Protection

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Why you need it and what it costs

Don't expect the government to help with your repayments if you lose your job: if you've got even modest savings, you're on your own. Even if you do qualify, it can take months before you receive any benefit and things get even worse if you're self-employed or a contract worker.

Apply for a free quote

If you're not earning, you'll struggle to pay your mortgage. Although benefit is available it can be difficult to qualify for, especially if you've got money saved. It's even more difficult if you're self-employed or a contract worker; those who do qualify for housing benefit often have to wait for a long time before receiving any assistance. And of course in the meantime, the bills are mounting.

Mortgage payment protection is an important safety net, and is designed to take care of your repayments if you fall on hard times. Every lender charges different rates, but as a rule of thumb expect to pay around £5 - £7 per month for each £100 of cover so if your payments are £600 per month, then mortgage payment protection is likely to cost from £30 to £42 per month.

Apply for a free quote