cheapest mortgage payment protection insurance

Mortgage Payment Protection Insurance

This mortgage payment protection insurance policy is the cheapest one available for the younger proposer and if you wish to take an excess the premiums can be lower still!

Our mortgage payment protection policy - key facts

  • Cover your mortgage payments and up to 25% extra - subject to maximum of £1,500 per month

  • Choice of unemployment only, disability only or combined accident, sickness, redundancy insurance cover

  • Includes 'Back to work' assistance

  • Cover available for self employed workers

  • Three months free cover

  • 30 days initial exclusion period for unemployment claims - new mortgages

  • 120 days initial exclusion period for unemployment claims - existing mortgages

  • Option to take an excess - otherwise benefits are 'back to day one after 30 days'

  • Policy extends unemployment to cover caring - if you receive carers allowance

If you decide to transfer to this policy - or you take it out on an existing mortgage you must be aware of the 120 day initial exclusion period.

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Income protection insurance | Mortgage protection insurance | Accident sickness unemployment insurance

Key Features
Cheap Premiums

(These rates are monthly premiums for £100/ month benefit)
Age Combined Cover
Back to day one		 Combined Cover
30 day excess		 Single Cover
Back to day one		 Single Cover
30 day excess

 Premiums underlined and in red are more expensive than   another policy that we have and in those circumstances, we suggest you look at this page
18 - 24 £2.58 £2.16 £1.44 £1.17
25 - 29 £3.02 £2.53 £1.89 £1.53
30 - 34 £3.65 £3.04 £2.37 £1.93
35 - 39 £4.26 £3.54 £2.98 £2.42
40-44 £5.11 £4.24 £3.75 £3.05
Back to day one benefits
  • If you have to make a claim, your first benefit will be made 30 days from the commencement date  to cover your first 30 days off work. Then your benefit is calculated on a daily basis.
  • If you select the 30 day excess option then you will not be paid for the first 30 days and the first payment will be made on day 61 to cover days 31-60. Then the benefit is calculated on a daily basis
Initial exclusion period
  • Providing you take out the policy as a result of a new mort gage or re-mort gage the initial exclusion period is 30 days
  • Otherwise the first 120 days are excluded
3 Months free cover
  • Provided to all customers on inception of the policy
  • If you select unemployment cover and do not qualify for the immediate cover option (above) you will be provided with three months disability cover.
High sums Insured
  • Up to the lower of:-
    • Your monthly bills + 25%
    • £1,500 per month
    • 65% of your gross income
Qualifications
  • To qualify for our policy, you must be between the ages of 18 and 60, live in the UK, have been in full time work for at least 6 months and be unaware on any impending redundancy or unemployment.
Benefit Period
  • 12 months
Combined Cover
  • You may use this policy in conjunction with one of our income protection policies to provide extra cover - providing the total benefits do not exceed the upper percentage limits of any individual policy.
To Apply

Mortgage payment protection insurance

About us

B. Portwood & Co Ltd are based in  North-east England (UK) and have three offices in Gateshead, Consett and Bishop Auckland. We have been in business for 40 years, been regulated by the IBRC (and could call ourselves brokers), are regulated by  the Financial Services Authority for the arrangement and administration of non-investment insurence contracts.

We have always acted in our client's best interests and fully intend to keep on doing so. Our aim is to provide the cover UK residents deserve

Please contact us on 0870 7456247 if you have any questions about this (or any other) mortgage payment protection insurance