mortgage payment protection insurance

MortgageSurePlus Mortgage Payment Protection Insurance

This mortgage payment protection insurance policy should be considered if you want 24 month benefits (and have just taken out a new mortgage) or if you want a large amount of extra cover above your mortgage payments e.g. to cover monthly bills. The benefits available vary depending on whether you are taking out the policy as a result of a new mortgage or an existing one. (Exclusion-free transfer is available if you do want to switch BUT, unless you want to insure more than 25% extra above your mortgage payments we would recommend our Goodmortgageprotection policy in those circumstances)

  • Includes 'Back to work' assistance

  • Cover available for self employed workers

Benefit New Mortgage/ remortgage Existing Mortgage
Maximum Sum Insured
  • £1,500 0R
  • Mortgage + 100% OR
  • 66% of GROSS income
  • £1,500 OR
  • Mortgage + 50% OR
  • 66% of GROSS Income
Benefit Period
  • 12 or 24 months
  • 12 months only
Initial Exclusion Period
(exclusion free transfer)
  • 30 days
  • 90 days
Excess Period
  • Back to day one OR
  • 30 day excess

(back to day one not available for the 24 month benefit option)
  • Back to day one OR
  • 30 day excess

 

Major Links

Landlords insurance at our home Page

Income protection insurance

Mortgage protection insurance

Accident sickness unemployment insurance

Key Features
 Premiums

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

Disability
Back to day one

 Disability
30 day excess
12 months £6.43 £4.68 £3.54 £2.58 £3.54 £2.58
24 months N/A £5.62 N/A N/A N/A £3.09
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 90 days are excluded
  • Exclusion Free transfer
3 Months free cover Not available
High sums Insured
  • Up to the lower of:-
    • Your monthly bills + 50% (100% if new mortgage)
    • £1,500 per month
    • 66% 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 - 24 month option for new mortgages if you need that benefit period
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

landlords insurance