Tips offered on mortgage protection
December 11, 2007 by admin
Filed under News, News-Mortgages
Don’t borrow more than you can afford and seek independent advice before buying are just two of the mortgage protection tips offered by industry experts, LifeSearch. 
The guidance arrives as consumer confidence has been affected by the Northern Rock crisis. Interest rates are also near a six-year high at 5.5 per cent, despite coming down last week.
Matt Morris, LifeSearch policy adviser, said: “Many people consider protecting their mortgage, but they usually select a policy that will pay it for them when they can’t work.”
He added that what they actually should be protecting is their income, which not only pays the mortgage, but also pays all the other bills and the everyday cost of living.
LifeSearch also advises consumers to check employee benefits, not to buy Mortgage Payment Protection Insurance without considering Income Protection and ultimately take some form of action.
LifeSearch is a life insurance and protection specialist which was established in 1997. It currently has over 200,000 customers and more than £13 billion worth of cover arranged.
