So you’re buying your first home! It can be daunting – so here are some helpful tips.
What is mortgage protection?
Mortgage protection safeguards your home. It pays the any remaining balance on your mortgage in the event of your death. Mortgage protection is essential – from the day you buy your home until your mortgage is fully paid.
Your mortgage provider will likely suggest a plan, but it might not be the best fit for your needs. Remember you can get mortgage protection from any provider – you don’t have to choose the first one you're offered.
Fit your cover to your life
Think about your current situation. Are you married? Have kids? Do you want to leave them something if you pass away? If so, consider life cover.
Review every year
Just like shopping around to get mortgage protection, you can review your cover at any time. This ensures you are protecting what you need to – with a policy that’s right for your needs. You’ll also probably enjoy savings, because better value policies become available all the time.