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Mortgage Linked Life Assurance

Providing cost-effective, mortgage linked life assurance should be a priority, especially where there is a spouse, partner, or family to consider.

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Mortgage Linked Life Insurance

mortgage protection insurance

Mortgage linked life assurance or mortgage protection insurance is the most cost-effective way in the UK of repaying the balance of your mortgage in the event of the death of the policy holder.

Decreasing term assurance is the most cost-effective way in the UK being able to repay the balance of a capital repayment mortgage, in the event of the death of the policyholder. It is worth noting that all insured parties do not necessarily need to go beyond the mortgage. If there is an insurable interest between the policyholders, then you can be insured even if not on the mortgage.

There are many insurance companies that provide this type of cover. At MMPE, we help advise our clients on the most suitable insurer to suit their circumstances. This could be led by number of factors such as price, the term required, age at application, benefits of the policy, existing medical conditions and also the need for a trust.

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Mortgage Life Cover

life insurance

At MMPE, we advise on life assurance products from all the U.K.’s major life assurance companies. Cover can therefore be extended to include a range of benefits;

  • critical/serious illness cover
  • income protection in the event of long-term ill-health
  • additional family protection over and above the mortgage
  • level or decreasing term assurance
  • whole of life cover
  • waiver of premium benefit
  • indexation options
  • guaranteed insurability options
  • life assurance policy trusts

Insurance requirements need reviewing regularly as our lives and situations change. At MMPE we carry out regular reviews with all our clients and the policies to ensure they continue to be fit for purpose and advise where changes should be considered. Life changes, such as marriage or living with a partner, the birth of children, a change of jobs or employer benefits.

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1. Personal Details

My Mortgage Experts & Protection Experts Ltd (FCA 937076), is an Appointed Representative of King Mortgages Ltd.

King Mortgages is authorised & regulated by the Financial Conduct Authority (FCA). King Mortgages Ltd is entered on the financial services register http://register.fca.org.uk/ under reference number 803561.

The information contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.

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      Automatic Property Value Updates

      Changes in property value, coupled with a potential reduction in your loan amount (with a repayment mortgage), mean a change in the equity available in your property (Loan to Value); hence there could be improved opportunities for a better mortgage for you.

      Product Expiry Date

      Sussed will track when your mortgage is due to expire (usually when your mortgage payments rise substantially as you will automatically transfer to your lender’s standard rate).

      The app will alert you when it’s the right time to discuss your options with your mortgage broker.

      Sussed can help you plan.

      Rate Riser

      This feature is ideal for today’s economy and increasing prices. Sussed will continually scan the market, looking for the best-fixed rates available, especially when interest rates are rising.

      Using a series of algorithms, our clever technology can identify longer-term fixed rates available today that could save money against predicted rates at the end of your current product term (including the cost of transfer) – sussed is doing all the hard work.

      Equity Available

      With automatic property value updates and your Mortgage information loaded, this feature calculates the amount of equity and the maximum potential loan that may be available within a landlord’s portfolio. This will assist with seeing if there is the opportunity for to perhaps buy another property from leveraging your portfolio.

      Within sussed, you will also be able to see each of your properties with a roadside picture, a confirmed property value, monthly rental, current mortgage balance, payments, interest rate and the Loan to value/Gross rental yield.

      Sussed can help you manage your portfolio.

      Early Review

      This feature is there waiting for interest rates when they reduce. Using the same technology as Rate Riser, sussed will identify if your current deal is now able to be improved.

      Should the interest rates decrease, sussed will compare deals available on the day with your existing deal and flag if there is an opportunity for you to save money by switching.

      Regional Price Limits

      There are price limits on homes you can buy with an equity loan. The limit is different for each region in England.

      • East - £407,400
      • East Midlands - £261,900
      • London - £600,000
      • North East - £186,100
      • North West - £224,400
      • South East - £437,000
      • South West - £349,000
      • West Midlands - £255,600
      • Yorkshire and the Humber - £228,100

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