Rate Tarts No Longer Welcomed By Mortgage And Credit Card Providers: Mortgage lenders are taking steps to reduce the number of people switching their mortgages. This article looks at the situation.
Buy to Let Mortgages. Boom time returns.: Buy-to-let mortgages are booming again. What's changed and what, as a new landlord, do you need to look out for?
Mortgages. Big changes in the buying and selling of houses.: In mid summer 2007 everyone who wants to sell a property will have to prepare a Home Information Packs before they put it on the market. This article explains what the Packs will have to include what they'll cost - and whether we expect them to work!
Mortgages. Watch out for add-on charges.: Mortgage lenders use headline interest rates to attract borrowers. But behind the scenes they're introducing a whole raft of add on charges. This article explains.
Mortgages. Short term advice: There are some new lower rate “lifetime” home loans coming onto the market. How do they fare against the even lower rate “shop around” options?
HIP's – the full story: Ready, steady, go! With just three months to sell your home using the forthcoming and compulsory information pack, you need to get your act together. Here we face the facts.

Life Insurance News

A mortgage is a long-term financial commitment and you have to maintain the monthly repayments for the full duration of the mortgage. That's going to be over many years but non of us have the benefit of a crystal ball - so no one knows how your circumstances are going to change. So that must represent a big risk.

Mortgage Payment Protection Insurance (MPPI) is just one of a range of valuable insurances which includes critical illness insurance and life insurance, which you can use to reduce that risk ( life assurance ) and protect your family's finances. The purpose of MPPI is to ensure that you have the income to continue paying your mortgage repayments if you're off work for an extended period due to accident, sickness or unemployment.

The Top Tips

• Some mortgage lenders may try to coerce you into taking out an MPPI policy along with your mortgage. If this happens, make sure you find out how much extra the MPPI cover will cost ( car insurance policy ) you each month. Then get on the Internet and get some competitive quotations. Most people will find that the Internet saves them up to 60%!

• Mortgage lenders will only quote you for the amount of cover you need to meet your monthly mortgage repayments. The author recommends that you extend the cover to include the cost of your home & contents insurance, mortgage life insurance, and the cost of any investment plan you have arranged to repay your mortgage (the investment plan only applies to mortgages where you are only paying the interest each month and will be repaying the capital at the end of the mortgage).

• You can take out MPPI at any time. Some people wrongly believe that you can only take out MPPI when you arrange the mortgage.

• If your employment is casual or seasonal you will not be able to claim on an MPPI policy. Every policy has what are called exclusions and seasonal and casual work is a ( insurance ) typical exclusion. Exclusions are the circumstances under which a claim will be refused. Be sure to read these exclusions before you take out the policy and, if your circumstances mean that you're unlikely to be able to make a valid claim, don't buy the insurance! Exclusions on MPPI policies can eliminate 50% of potential claims.

• The cheapest is not always the best. So don't automatically opt for the cheapest policy. ( online car insurance ) The circumstances under which policies pay out do vary - so check them out cautiously. The premium quoted will be a reflection of the extent of the exclusions in the policy, the level of cover provided and the insurers general pricing policy.

• MPPI is sold under a number of alternative names. So don't get confused. It can also be described as Accident Sickness and Unemployment Insurance, Payment Care and Payment Cover. In principle, they are the same - but remember to check out the exclusions!

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Statutory Wealth Warning
Your home may be repossessed if you do not keep up your repayments on a mortgage or any debt secured on it. Security by way of a charge on your home may be required.

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