Previously mortgage repayment protection cover could only be taken out within 90 days of mortgage drawdown. Having made the biggest financial investment of their lives, many home buyers were reluctant to commit to further premiums at this time. Product providers have now updated this product allowing customers to opt for it during the course of their mortgage term.
Your home is your most significant financial asset and for most, your mortgage is your largest monthly outlay. Have you ever thought what might happen if you were unable to make these repayments?
Mortgage repayment protection covers you for an agreed monthly amount, generally equal to your monthly mortgage repayment. The amount is payable if you cannot work due to illness, accident, or compulsory redundancy for longer than four weeks. The claim will be paid for a maximum of 12 months.
As fears about job losses continue to grow, interest in this type of product has increased rapidly and it is an important time to review your options.
For more information contact IFG Mortgages Athlone on (090 ) 6487926 or call into the office situated at 15 Castlemaine Street, Athlone to discuss today.
