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Mortgage Protection Policy

A Mortgage protection policy is a life insurance policy with a sum assured designed repay your mortgage if you die during the term.

Put another way, if your were to die, the lender would like to know that you have an insurance policy in place which could be used to pay off your mortgage debt. This is very sensible for you, if you're leaving a partner or family behind who want to continue living in the property but perhaps wont be in a position to afford the mortgage repayments without you.

You will not need a separate insurance policy with an endowment mortgage, as the life cover already is built in.

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Your home may be repossessed if you do not keep up repayments on your mortgage. Site Last updated 13th July 2005. © Martin Mortgages, Stableford Lodge, Jaras Drive, Baschurch, Shropshire SY4 2DH Martin Mortgages Ltd is an appointed representative of Thinc Assured Network Limited which is authorised and regulated by the Financial Services Authority. This site is intended for UK Consumers only. Our typical fee for advice is 1% of the mortgage advance or £500 whichever is the greater. The overall cost for comparison is 8.4% APR.  The actual rate available will depend on your circumstances.  Ask for a personalised illustration.  APR variable and based on a usual case. Not all buy to let mortgages are regulated by the Financial Services Authority. Think carefully before securing other debts against your home. Please note Commercial Mortgages are not regulated by the Financial Services Authority.
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