YOU DON'T NEED TO WORRY ABOUT YOUR MORTGAGE
Whatever type of mortgage that you get - there is a protection policy that goes with it. Of course, you can get away with not having one - but then you are living every day with the risk that your house will be at risk if anything happens to you.
Repayment Mortgage Protection.
When you make a payment every month, there is a combination of capital and interest - sometimes it is even called a Capital and Interest Mortgage. What that means is that over the term of the mortgage, the amount of interest that you pay as a % of your payment gets less and less. What would be ideal would be some Decreasing Term Assurance (DTA).
Interest Only Mortgage Protection
Every Month you only pay interest - so the ideal thing that everyone should have would be what is called Level Term Assurance (LTA). What that means is that if you were to be no longer - then 100% of your mortgage will be paid off.
Other kinds of Mortgage Protection
All mortgages need some form of protection. We provide the right advice for you to have the correct protection for your mortgage. Get in touch with Bram Vis today and ensure that you get the right protection product for your mortgage. It may be cheaper than you think!!