Insurance for mortgages - where's cheapest? - HotUKDeals
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Insurance for mortgages - where's cheapest?

luvadealme Avatar
5y, 5m agoPosted 5 years, 5 months ago
Hi All,

At a recent mortgage appointment, I relaised that i needed cover.

HSBC discussed 4 types of things to cover:


Which one do you legally need if taking out a mortgage and also is it cheaper if you don't take the ones offered by lenders?

If so, who is best to get this from?


luvadealme Avatar
5y, 5m agoPosted 5 years, 5 months ago

All Responses

(5) Jump to unreadPost an answer
None of the above.
No, you don't legally have to take it out, nor should you feel pressured into taking it out with your lender. It is indeed, generally cheaper through alternative sources. Just check the terms carefully to make sure it's suitable for you.
so any recommendations for alternative sources?

we are both 30 somethings, professionals.
I have heard good things about 'Paymentcare', the company, not the Santander product offering.

You need to weigh up whether you want IP (Income Protection) or an MPPI (Mortgage Protection) product. I would seek advice from an IFA.

This may help too:
I am with Cardiff pinnacle and can confirm they pay out I insured my mortgage salary andnmain bills like council tax, gas, electricity ect. They paid me for a full 12mths go forth back to day one option, you have to be unemployed for 30days but then on the 31st day they back pay you.

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