Taking out a mortgage is one of the biggest financial commitments you’ll ever make. For most people, it’s a 20–35 year responsibility—one that relies on steady income, good health, and life circumstances remaining fairly stable. But as we all know, life doesn’t always go to plan. That’s where mortgage protection products come in. These policies are designed to safeguard you, your family, and your home should something unexpected happen. They provide peace of mind and financial security at the times you need it most. In this article, we’ll explore what mortgage protection is, why it’s so important, and the types of cover every homeowner should consider. What Is Mortgage Protection? Mortgage protection refers to a range of insurance products that ensure your mortgage payments can still be met if you: Pass away Become critically ill Are unable to work due to accident, illness, or redundancy Lose income unexpectedly Without protection in place, your home—and your family’s financial stability—could be at risk. Why Mortgage Protection Matters 1. Protects Your Home Your home is likely your largest asset. If you or your partner were suddenly unable to pay the mortgage, you could face arrears or even repossession. Protection products ensure that doesn’t happen. 2. Supports Your Family Financially If you’re the main income earner, your family relies on your ability to work. Protection policies provide a financial safety net, helping your loved ones stay in the home they know and rely on. 3. Covers Life’s Unexpected Events Illness, injury, and redundancy can happen at any time. With protection in place, you won’t have to worry about your mortgage during an already stressful period. 4. Complements Employer Benefits Even if your employer offers sick pay or life cover, it may not be enough—or may not last long enough—to cover a long-term loss of income. Mortgage protection bridges that gap. 5. Peace of Mind Simply knowing your home is secure allows you to focus on recovery, family, and life—not financial stress. Types of Mortgage Protection Products 1. Life Insurance Pays out a lump sum if you die during the policy term. This can clear the mortgage, ensuring your family keeps the home. 2. Critical Illness Cover Provides a tax-free lump sum if you’re diagnosed with a covered serious illness such as cancer, stroke, or heart attack. This can be used to pay off the mortgage or support household costs during treatment. 3. Income Protection Replaces a portion of your income each month if you can’t work due to illness or injury. It offers long-term financial stability, often until you’re ready to return to work. 4. Mortgage Payment Protection Insurance (MPPI) Covers your monthly mortgage payments for a fixed period if you’re unable to work due to accident, sickness, or redundancy. Do You Really Need Mortgage Protection? While not a legal requirement, mortgage protection is strongly recommended for anyone with a mortgage. If you have dependants, are self-employed, or rely heavily on your income to maintain your lifestyle, it becomes even more important. For most people, the mortgage is their biggest monthly outgoing. Protection ensures it remains manageable—no matter what life throws your way. Final Thoughts Mortgage protection products aren’t just about financial obligations—they’re about safeguarding your home, your wellbeing, and the people you love. With the right cover in place, you can enjoy your home with complete peace of mind, knowing you’re protected from life’s unexpected challenges. Ready to make sure your home and family are fully protected? Get personalised advice and a tailored protection review today. 👉 Contact us now for expert guidance and no-obligation support. Whether you’re looking to review your existing cover or set up a brand-new policy, we're here to help you protect what matters most.
If you’re self-employed, you already juggle enough — clients, invoicing, tax planning… the list goes on. When it comes to getting a mortgage, your affordability (how much you can borrow) is a key piece of the puzzle. Here are practical steps to help boost your borrowing potential. 1. Keep Business Expenses Sensible Writing off everything possible might help with tax, but it can reduce your declared income — which is what lenders look at. Keeping a balance helps both sides. 2. Show a Consistent Trading Pattern Lenders like stability. If income has dipped one year, that’s fine — but being able to explain it (investment, COVID impact, new contracts coming in) makes a difference. 3. Avoid Big Personal Transactions Before Applying Large transfers, cash deposits, or irregular spending can raise red flags. Lenders want to see predictable, steady financial behaviour. 4. Maintain a Strong Credit Profile Small steps help: Make payments on time Stay on the electoral roll Keep credit utilisation low Avoid opening new borrowing before applying 5. Work With a Broker Who Understands Self-Employed Income This is the biggest one. Some lenders use salary + dividends. Others use retained profit. Contractors may be assessed on day rate. Choosing the right lender is often what determines how much you can borrow. Final Thoughts Your affordability isn’t fixed — you can improve it with good planning and a clear strategy. 👉 If you’d like tailored guidance on boosting your mortgage affordability, contact us via the website to discuss how we can help.
When it comes to finding a mortgage, you have two main options: go directly to a lender, or use a mortgage broker. While going direct can seem quicker, working with an independent mortgage broker offers major advantages — especially if you want the best deal for your situation.
