Getting the best mortgage protection as part of the mortgage arrears resolution process.
Who should read this?
Whether you are in negotiations with your lender over mortgage arrears, or are planning to start, this guide will help you to choose the best value mortgage protection policy for you.
It will help you to recognise value for money and the best price.
I took out mortgage protection insurance through the lender, when I applied for the loan, can I change now?
Yes. You can change insurer during the term of your mortgage if you find better value elsewhere.
Many borrowers in the Celtic tiger rush, took the whole loan plus mortgage protection package without looking too clearly at the costs involved.
Now is the perfect time to review all of your outgoings, including mortgage protection.
Mypremium.ie will review all available products, to get you the lowest prices on the market.
We compare all Life insurance providers in Ireland, so you can be sure that you are getting the best value.
That can result in very significant savings for you, especially when spread over the term of the mortgage.
Remember, the lending institution cannot force you to stay with their mortgage protection provider.
Many banks are tied agents and can only offer mortgage protection insurance from the provider to whom they are tied.
This means they only deal with one provider, no choice.
It is time to put your needs first and make sure that you are getting real value, by getting a personalised mypremium.ie mortgage protection review today.
Remember only a qualified, regulated, financial adviser can give you proper financial advice.
What types of mortgage protection insurance are there?
The most common form of mortgage protection insurance is reducing term cover.
The cover reduces as the mortgage becomes smaller over time.
Level term cover is used where the mortgage is interest only or endowment.
You can add serious illness cover to your policy so that the mortgage is cleared if you die or are diagnosed with an illness which is covered by the policy.
My mortgage is in arrears. Is there anything I should consider?
If you are not in a position to discharge the arrears, you should consider them as part of your loan, and take out life cover to pay them off in the event of your death.
Your mortgage protection policy does not cover arrears, so you will need a separate life policy to cover them.
How can I be sure that I am getting the best rates available in Ireland?
Don't deal with tied agents. They can only offer products from one provider.
Deal with an unbiased expert.
mypremium.ie deals with all of the mortgage protection providers in Ireland.
You can be sure that our qualified, experienced experts will compare all and get your best policy.
Start today.
Contact us on 1890 666 666
or use the quote button.
