Protecting You And Your Mortgage

Your home may be repossessed if you do not keep up repayments on your Mortgage.

Mortgage Protection and Family Cover

Protecting your mortgage, income and family isn’t just about ticking boxes - it’s about peace of mind.

From life insurance and critical illness cover, to income protection and home insurance, we’ll help you find affordable, straightforward solutions that keep you and your loved ones financially secure, whatever life brings.

Protecting What Matters Most

A mortgage is usually the biggest financial commitment most of us ever take on. It makes sense to think about how you or your family would manage if something unexpected happened. The right protection can give you peace of mind that the bills, the mortgage and your loved ones aren’t left scrambling if life takes a detour.

We’ll help you decide what cover you actually need, what you don’t, and how to keep it affordable.

Life Insurance

Life insurance (or life assurance) pays out a lump sum, or sometimes a regular income, if you die during the policy term. That money can be used to pay off the mortgage, clear debts, or keep your family’s lifestyle ticking over.

You can choose:

A level term plan, where the payout stays the same.
A decreasing plan, which reduces in line with your mortgage.
A family income benefit plan, which pays a monthly income instead of a lump sum - ideal if you’d rather replace earnings than hand over a windfall.

The right amount and length of cover depends on your mortgage, family situation and budget. We’ll also look at any cover you already have through work, such as ‘death in service’ benefits.

If you die, the proceeds can be paid directly to your loved ones or held in a simple trust, so they get the money quickly without waiting for Probate. Grief is hard enough without paperwork.

Critical Illness Cover

Critical illness cover pays out a tax-free lump sum if you’re diagnosed with a specified serious illness such as cancer, heart attack or stroke, plus a large number of other potentially serious illnesses. You might recover, but treatment and time off work can be expensive.

The money can be used to reduce or clear your mortgage, adapt your home, or simply take the financial pressure off while you focus on getting better.

It’s often added to a life insurance policy, but it can also be arranged separately. Each insurer lists the conditions they cover, and some now offer partial payments for less severe cases.

Common Questions

Still have some questions? Here are a selection of questions our clients often ask about Mortgages.

Get In Touch

Please choose FAQs from the Flexi Block Options at the bottom of this page.

Can first-time buyers get buy-to-let mortgages?

Some lenders allow it, some don’t. It depends on your circumstances, experience and affordability - this is where advice really matters.

THE FINANCIAL CONDUCT AUTHORITY DO NOT REGULATE SOME FORMS OF BUY TO LET MORTGAGES.

What is an early repayment charge (ERC)?

An ERC is a fee some lenders charge if you repay or change your mortgage during a fixed or discounted period. We always highlight these before you commit, and check whether you are aware of any possibility of repaying the loan early.

Can I let out my home if I already have a residential mortgage?

Sometimes, yes, with your lender’s consent. This is known as being given ‘consent to let’ and is usually temporary.

Can I get a mortgage if I’m self-employed?

Yes - many self-employed people get mortgages every year. Lenders usually want two years’ accounts or tax returns, sometimes less.

How much deposit do I need for a buy-to-let mortgage?

Most buy-to-let mortgages require at least 25% deposit, sometimes more depending on the property and lender.

THE FINANCIAL CONDUCT AUTHORITY DO NOT REGULATE SOME FORMS OF BUY TO LET MORTGAGES.

Income Protection

If illness or injury stops you working for a long period, income protection (once called ‘permanent health insurance’) can replace part of your income until you’re back on your feet - or reach the end of the policy term or retirement age, whichever comes first. They pay a monthly benefit, normally up to around 60% of your usual earnings (so that claimants are encouraged to get back to work as soon as they can), and are tax-free.

Payments start after a waiting period you choose at outset - usually between one and twelve months. The longer the delay, the cheaper the premium. Many people match the waiting period to the sick-pay arrangements from their employer.

Cover continues for as long as you stay off work within the policy term, giving you the breathing space to recover properly rather than worrying about the next mortgage payment and other bills.

Your premiums depend on your age, health, job, lifestyle and how soon you’d want payments to start. It’s not always straightforward, so proper advice is essential.

Mortgage Protection

Mortgage protection is a simple form of life cover designed to pay off your mortgage if you die, or if you add critical illness cover, if you suffer a specified serious illness. The benefit reduces in line with your mortgage balance, keeping premiums low.

If you have a joint mortgage, the policy usually pays out on the first death, ensuring the surviving partner can stay in the home without the worry of repayments.

Premiums are fixed for the term, based on your age, health and lifestyle. They’re one of the most cost-effective ways to make sure your home is secure for your family, no matter what happens.

Please choose Testimonials from the Flexi Block Options at the bottom of this page.

View Our Reviews on trustpilot

Buildings and Contents Insurance

Buildings insurance protects the structure of your home - the walls, roof, floors, fitted kitchens and bathrooms - against damage from fire, flood, storm or other major risks. It’s normally required by mortgage lenders who understandably prefer their collateral not to be totally lost by fire or to float away.

Contents insurance covers what’s inside and broadly covers possessions that can be taken away if you move: furniture, appliances, clothing and personal belongings. The same risks are covered, but can also include theft. You can also add accidental damage and personal possessions cover for items you take outside, such as jewellery or laptops.

The right policy gives you peace of mind that if disaster strikes, you’ll have the means to rebuild, replace or repair without financial strain. But you must insure everthing for the actual costs of putting things right, as otherwise the insurance company can reduce your claimed amounts.

Find out More

Why It Matters

Most of us happily insure our cars and holidays, yet overlook the things that truly matter - our income, our home and our family’s security. Without protection, a sudden illness, job loss or bereavement could make mortgage payments impossible and force painful choices at the worst possible time.

These plans aren’t about scaremongering; they’re about making sure you and your loved ones can carry on with stability and dignity if something goes wrong. With the right advice, you can get cover that’s affordable, flexible and suited to your stage of life.

How We Can Help

We’ll look at your full situation - your mortgage, income, family responsibilities and existing protection - and recommend what’s genuinely necessary. We’ll also explain how each plan works, what it costs and how the benefits are paid, in plain English.

We’re professionally qualified to advise on every type of mortgage-related protection. If you’re unsure what you need, or what you can afford, we’ll help you prioritise the essentials first.

To discuss your options or request a personal protection review, contact us below. We do not charge for protection advice, as we will be paid by the insurers we recommend.

Contact Us

Contact Andy Wilson Financial Services directly or fill out your details and we will contact you as soon as we're available.

Call Us:

01522 590015

Mobile:

07871 838230

robert@andywilsonfs.co.uk

Book A Meeting with Robert

11 Boscombe Close, Lincoln, LN6 3TG

Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice.

The precise amount will depend upon your circumstances but we estimate it will be £495, and £595 for buy-to-let mortgages.

Mortgages Contact Form will show here

For more information on how we store your data please view our Privacy Notice