Protecting your mortgage

The main types of cover

Life cover

Pays out if you die during the term. The most straightforward way to make sure the mortgage doesn't become somebody else's problem.

Critical illness cover

Pays a lump sum if you're diagnosed with one of the specific conditions listed in the policy. Worth reading what's actually covered, because it varies a lot between insurers.

Income protection

Replaces part of your income if you can't work because of illness or injury. Often the most relevant one for self-employed people, who don't get sick pay.

Buildings and contents

Buildings cover is usually a condition of your mortgage and you'll need it from the point you exchange contracts.

How we approach it

Protection is a separate conversation from the mortgage, usually once your application is in, and it's handled by someone who does this side of things properly rather than tacking it onto the end of a mortgage call.

There's no standard answer and we won't pretend there is. What's right depends on who depends on you, what you'd have to fall back on, and what you can comfortably afford each month. You'll get the options and the costs set out clearly, and if you'd rather not take any of it, that's a legitimate answer too.

On trusts

Putting a policy in trust can mean the money reaches the people you intend more quickly, without waiting on probate, and in some cases more tax-efficiently. It's an option to consider, not a requirement, and we can talk you through what it does. We're not solicitors, so we won't draft trust wording or give you legal advice on it.