Upside Down Mortgage

Mortgage Help Redundancy

Question: Which mortgage insurance should I get?

Hi, Just wondered which insurance people chose to take out on their mortgage? I know that the buildings and contents one is compulsary, but wasnt sure which other ones you also got? I am buying a house and thinking of just getting the redundancy cover. Do you also know roughly how much this would cost on top of my monthly payments? Would it be bout £10 a month? Money is tight so dont want to end up not been able to pay my mortgage payment because I have too many insurance costs. thanks

Answer: Mortgage insurance pays off your mortgage, if you die. I think you're REALLY talking about homeowners coverage.

And, it should really be specifically tailored to YOUR needs. I don't know if you have a fur coat you need to insure. I don't know if you have a business in your home. I don't know if you're in a flood plain. You really need to sit down with a local agent, and talk to them about what coverages you need, and what's the most cost effective way to get it.

The price is going to depend on the house, and how much it costs to rebuild it, along with which coverages you need.

Mortgage Protection www.uk-mortgage-protection.com

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