Mortgage protection
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Pays your mortgage if you fall ill or have an accident
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Won’t affect existing Income Protection plans
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12 & 24 month benefit periods available
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Payment directly to your mortgage lender
Finding the right solution for you
If you are looking for advice on mortgage protection, our team at Mallory Financial Limited will be able to help.
They are independent and will advise a suitable solution based on your individual needs.
Protecting your mortgage payments
With mortgage protection you can be confident that your repayments are protected if you aren’t earning your usual income due to an accident or illness.
A mortgage protection policy will pay your monthly mortgage repayments from the first day you are unable to work, has no or limited underwriting and can cover up to £1,500 per month for up to two years.
Core cover
- Accident only cover
- Covers 12 months of mortgage repayments
- No underwriting
You must have at least five years outstanding on your mortgage at the start of the policy, be a UK resident age 18-59 (last birthday) and work a minimum of 16 hours a week.
Essential cover
- Accident and illness cover
- Covers 12 or 24 months of mortgage repayments
- Minimal underwriting with just five health questions
You must have at least five years outstanding on your mortgage at the start of the policy, be a UK resident age 18-59 (last birthday) and work a minimum of 16 hours a week.
All policies include:
- Unlimited number of claims
- Payments directly to your bank account or mortgage lender
- If you need to claim Universal Credit, MortgageSafe payments won’t affect how it is calculated
- If you need to, you can increase the amount of cover by up to 20% without underwriting. e.g. if the monthly repayment amount changes
Optional child cover
If there are children in the family, there’s also the option to add Child Cover for £3 per month. It’s not linked to your mortgage and provides lump sum payments if a child in the family has an accident or falls ill.
It covers:
- Broken bones
- Cancer
- Hospitalisation
How it works
How it works
Answers to your questions
MortgageSafe is suitable for UK residents aged 18 up to 59 (last birthday).
It is especially good for those who don’t have adequate sick pay to cover their mortgage repayments or those who rely on one income or have little or no savings.
Yes. You can add Child Cover for £3 per month. It’s not linked to your mortgage and provides lump sum payments if a child in the family has an accident or falls ill. It covers:
- Broken bones – Major £550 per bone and minor £100 per bone.
- Cancer – £10,000 lump sum per diagnosis
- Hospitalisation – £50 per 24 hour period
There is no underwriting on accident only Core cover.
We ask just five health questions for accident and illness cover and don’t need your family history.
Yes. You need to work a minimum of 16 hours a week and be:
- In continuous full-time employment and have been for at least six months; or
- Continuously self employed and have been for at least six months; or
- On a fixed term contract for at least 24 continuous and consecutive months with your current employer before the start date of the policy
Our team is here to help answer your questions, whenever you’re ready!
Deborah Newton.
Head of Customer Care.