Nobody plans to default on their mortgage but the sad fact is that 1,100 homeowner mortgaged properties and 600 buy-to-let mortgaged properties were taken into possession in the fourth quarter of 2017. Even worse, many of those property owners could have kept their homes if they had been given or accepted the correct advice.
Continued good work by ethical mortgage advisors has seen repossession rates fall but the figure is still too high and Mortgage Today knows how important it is that every client is given enough information to make the right choice. Your mortgage adviser will consider your personal and financial circumstances, then carefully select the right insurance products from a panel of insurers and take the time to advise and recommend a package that suits you and your budget.
If you still think ‘it could not happen to me’, then take a look at the actual statistics, provided by LV in their Risk reality calculator
One way to ensure that your family receive the inheritance you want them to have is to use a trust. Ask your adviser about the benefits of using a trust.