Mortgage protection

Find cover for your mortgage payments – compare mortgage protection policies with ActiveQuote[1]

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What is mortgage protection insurance?

Mortgage payment protection insurance (MPPI) is a form of income protection that provides cover for your mortgage payments in case you’re made involuntarily redundant or find yourself unable to work due to accident or illness.

How does it work?

MPPI can cover your monthly repayments in full so long as they don’t exceed 65% of your gross annual salary and is available for both repayment (capital and interest) mortgages and interest-only mortgages.

Most plans that cover your mortgage will pay out for up to 12 months or until you return to work – whichever is sooner.

Do I really need it?

If you’d struggle to keep up your monthly mortgage payments when you’re unable to work, MPPI could be for you. If you’re self-employed and therefore wouldn’t receive any sick pay or a redundancy package, it could be worth considering MPPI.

Alternatively, you may wish to explore income protection, critical illness cover or mortgage life insurance as a more cost-effective choice.

How to get mortgage protection insurance

We make it really easy for you to compare your cover options

  1. Pick an option

    Choose cover for your mortgage to protect your payments. You can also choose to cover your income, loan or credit card repayments. Or you can choose ‘other’ to pick an amount

  2. How long do you want the cover to last?

    It could be for a set amount of years, until you reach a certain age or until your mortgage end date

  3. Let us know your details

    Tell us a little bit about yourself so we can get it sorted for you

What’s covered by mortgage protection?

You can decide what level of cover you require, when it comes to MPPI.

There are three options:

  • Accident and sickness
  • Unemployment
  • Accident, sickness and unemployment (ASU)

Choose the cover that you think best suits your situation. For example, if you know you’d get a good redundancy pay out, you might not need to take out unemployment cover.

Check whether your health insurance would cover your mortgage if you had a long-term illness too – you don’t want to be paying for the same thing twice.

Top tips for lowering the cost of your mortgage protection insurance

  1. Compare quotes

    There are so many different options available, it’s important to find the right choice for you at a price that suits your budget

  2. Do an annual policy check-up

    Is it still working for you or are you in a position where you could lower your level of cover or stop it altogether?

  3. Don’t go over the top

    Decide whether you need the highest level of cover or whether there are other options, like savings, to tide you over

  4. Push back the pay outs

    If you extend the deferred period, you may see it reflected positively in your premiums

Frequently asked questions

  • What’s the difference between life insurance and mortgage protection?

    Life insurance is designed to look after your loved ones when you die. The pay out can help your family to cover mortgage payments, funeral costs and other expenses.

    Mortgage protection, however, will cover your mortgage payments if you can’t work – this could be because you’ve had an accident, developed a long-term illness or you’ve been made redundant. MPPI will sometimes also cover your bills and council tax.

  • How much is mortgage protection insurance?

    The cost will be tailored to your situation and will depend on things like your age, the cost of your mortgage repayments and how much cover you want to take out.

  • Is mortgage protection insurance the same as payment protection insurance (PPI)?

    No. Both will cover a particular debt, but mortgage protection will go directly to you whereas PPI goes straight to whoever you borrowed the money from.

  • Will being a smoker affect my mortgage protection quote?

    It might – check the terms and conditions of your policy to be sure.

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