"Explained things in concise clear language. Easy manner - no pressure - created environment to make a decision."
Mr & Mrs M., Leeds, West Yorkshire
our online Mortgage Guide - Page 13 of 14:
Mortgage Protection Insurance is probably the last thing on your mind amidst all the hustle and bustle of arranging a mortgage, but it's actually one of the most essential considerations when it comes to your mortgage. Let's explore why this is so...
As we've already discussed, your mortgage is likely to be the largest transaction you'll ever enter into. You should always remember, that it is your main priority debt, and you must ensure that you are always able to maintain your contractual payments. You cannot and must not avoid paying it. To do so will quickly put your home under the threat of repossession.
Let's face it, none of us know what's round the corner, so you must carefully consider protecting you and your family against the unforeseen. Shire Direct Mortgage Advisors are also qualified to advise and recommend on a variety of regulated insurances that have been designed specifically to protect you if you could not continue to make your mortgage repayments.
It's probably a bit morbid, but you do need to consider what would happen in the event of:
Our Advisors will assess your present cover, your circumstances and requirements. They will then carefully analyse your insurance Demands and Needs and prepare a statement to show this information, give you advice and their personal recommendation of the following protection insurances:
For more information relating to protection, please see the following pages of additional information:
Well that finishes our look at Mortgage Protection Insurance and almost concludes our Mortgage Guide, but there's just one more page to go where we'll explain how Shire Direct can help with a tailor made mortgage solution even in the trickiest of circumstances!
NEXT: Need further help and mortgage info? ›
The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.
There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.
THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Adding existing debt to your mortgage will increase the repayment term and overall cost.
Claim £100 worth of Argos Vouchers upon completion of your transaction throughout 2008. Terms and conditions apply - see our Vouchers Special Offer page for full details.
Shire Direct and Shire Direct Mortgages are trading styles of Shire Processing Centre Limited which is
Authorised and regulated by the Financial Services Authority in respect of regulated mortgage products and general insurances.
Registered No: 302389. Commercial funding and Secured Loans are not regulated by the FSA.
Licensed Credit Brokers. Consumer Credit Licence Number: 349999.
Shire Processing Centre Limited is registered under the provisions of the Data Protection Act by the Information Commissioners Office: Registration No: Z6795249. Registered in England & Wales. Company number: 2732202. Telephone calls may be recorded for training, monitoring and security purposes. All applicants must be aged 18-years or over.