Protection
Looking for your first home and don’t know where to start?
Find the most appropriate protection for you, your family and your home.
A Mortgage is usually the biggest financial commitment we will ever make. Therefore understanding the options available to you is essential for financial planning.
There are different types of policy available and the right one will depend on your individual circumstances. At Fylde Mortgages, I will talk you through the options and recommend the most suitable solution based on your personal circumstances.
Protection for you and your family might not cost as much as you think.
Life Assurance
Life Assurance Provides a lump sum pay out in the event of death. It is designed to provide you with the peace of mind your surviving partner and family will not struggle financially in the event of your death. You could potentially use this type of policy to pay off your mortgage in the event of death.
Income Protection
Income protection is a type of insurance designed to pay you a regular income if you are unable to work due to illness or injury where you would otherwise have a loss of earnings. It provides you with the security that you are able to keep up with your financial commitments if you are unable to work for example meeting your mortgage payments and covering your other essential expenditure.
Family Income Benefit
Family Income Benefit is a type of insurance that pays out a tax free regular income for specified period of time in the event of death. This type of policy can help replace a loss of income to support your ongoing financial commitments such as childcare costs and other monthly expenditure.
General Insurance
General Insurance is a form of property insurance designed to protect your home and possessions in the event of damages. As a condition of your mortgage, the lender will stipulate that you have Buildings insurance in place. You can select any insurer as long as the cover is adequate.
Critical Illness Cover
Critical illness cover is designed to provide you with a lump sum upon diagnosis of a specified illness during the term of the policy. This provides you with financial protection if you were to suffer a serious illness and can help ease some of your financial burdens. You can sometimes link this to your mortgage or you can take it as a “standalone” policy to use as you see fit.
Critical Illness plans have no cash in value at any time and will cease at the end of term. If you stop paying your premiums your cover may end. Plans may not cover all the definitions of a critical illness. The definitions vary between product providers and will be described in the key features and policy document, if you go ahead with the plan.
Ready to take the next step?
DISCLAIMER
Your home/property may be repossessed if you do not keep up repayments on your mortgage
Some buy to let mortgages are not regulated by the Financial Conduct Authority.
Fylde Mortgages & Protection is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.
Registered Office: Fylde Mortgages & Protection, 21 Clifton Drive, Lytham, FY8 5QY. Registered Company Number: 11313163, Registered in England and Wales.
The Information on this website is subject to the regulatory regime and is therefore targeted at consumers in the UK. No representations are made as to whether the information is applicable in any other country which may have access to it.
As with all insurance policies, conditions and exclusions will apply.
Typically we charge an arrangement fee of £550, however the precise amount is dependent on your circumstances and will not exceed 1.5% of the mortgage amount.
Contact
Fylde Mortgages and Protection Limited,
21 Clifton Drive,
Lytham,
FY8 5QY
amanda@fyldemortgages.co.uk
07969 320978
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Fylde Mortgages and Protection Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.
FCA Registration Number: 950779. Registered Office: Fylde Mortgages and Protection, 21 Clifton Drive, Lytham, FY8 5QY. Registered Company Number: 11313163 Registered in England & Wales. There may be a fee for arranging a mortgage and the precise amount will depend on your circumstances.
This will typically be £550.
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