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A mortgage broker will typically help you find the best mortgage for your personal circumstances, and will advise you of the best lender for your own requirements. They will talk to you about the lending criteria and guide you through the application process from start to finish. A good mortgage broker, will also offer additional services which go hand in hand with mortgages and one of these is insurance. Any homeowner will know that it’s imperative to take out insurance of some kind – whether it’s buildings and contents insurance, life insurance to cover the outstanding mortgage if something were to happen to you, income protection to name just three. Often it’s good to talk to a financial expert rather than research the best insurance deals as they will be aware of the whole of the market not just one or two companies available to you. Often the comparison websites will only give you a small selection of companies that are listed and so often you won’t get the best company for your requirements. A mortgage broker can delve deep into your circumstances and work with you to get the best policy after giving you in depth insurance advice. There are several types of insurances that you should consider. Here are a few that your mortgage broker should be able to advise you on: Income protection: Do you know how many months you can cover your financial outgoings without working if you were to suddenly lose your job? Income protection helps you to cover your outgoings if you find that you can’t work due to illness or accident. It really does help to remove stress and worry especially if you have a mortgage secured on your home. Life cover: Taking out an insurance policy for life cover is really important for the future welfare of your family especially if you have young children and a spouse who relies on your income. Taking out a policy means that financial commitments are taken care of in the event of your death and your loved ones are comfortable and can stay within the family home. Critical illness: Unfortunately many people suffer from critical illness and with the medical care being as it is luckily there’s a good chance you will survive to old age. This is good news but you firstly need to consider whether during the period of your illness will your current income be maintained, and secondly whether you will be able to return to your previous employment. Accident, sickness and unemployment: This is a policy to cover you if you cannot work for a certain amount of time, but unlike income protection it is payable for a specific period of time until you get back on your feet. Policies will vary as to the period of time that you are covered. Buildings and contents: You are legally responsible to have buildings insurance when you exchange contracts on a house purchase, so you need a broker to advise you on a competitive policy that gives superior cover. Gadgets: With the advancement in technology, we are all in possession of gadgets, whether it’s a mobile phone, laptop computer, iPad, Satellite Navigation system, camera, camcorder to name a few, it’s worth taking insurance out on these as they can be easily misplaced or stolen. Pet insurance: Pets are often like a member of the family and much loved, but costs really do add up if they are sick or injured. It’s worth taking out insurance because otherwise you could be faced with huge vet bills. Travel insurance: Whether you are going away for a weekend in the UK, overseas for long periods of time or taking part in sporty or activity holidays it’s imperative that you have travel insurance to cover medical expenses and personal items. With airports misplacing thousands of people’s luggage each year, it’s definitely worth taking out a good insurance policy. By finding a good mortgage broker to advise you, you will get the best policy for your circumstances. Established for over 6 years, Alton Mortgages are a Mortgage Broker in Maidenhead covering all of Berkshire and beyond. If we can help provide you with Mortgage Advice Berkshire, please feel free to get in touch on enquiries@altonmortgages.co.uk or call us on 0845 095 34 35.
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