Mortgage
Payment Protection
In 1999, 30,000 properties were re-possessed by mortgage lenders, even
in 2000, when it no longer makes headline news, 90 families a day had
their homes repossessed. Many lost their homes because they
could no longer afford to pay their mortgage payments through an
accident, sickness or unemployment.
The homeowners never thought it would happen to them, they had a good
job, redundancy was something that happened to other people.
They probably
thought the government would help them; but most people do not qualify
for help because they have a working spouse, or they have a few thousand
pounds in savings. You may not even be entitled to more then 6
months Job Seekers Allowance (dole) for the same reasons - don't forget
that is only around £53 per week.
Every day 500
people in the UK become unemployed. 60% of unemployed men and 45% of
unemployed women will be out of work for six months or more.
They could have protected themselves with mortgage
payment protection insurance.
This
site contains general material and is not intended
to give financial or other professional advice.
If expert advice is required, please seek the services of a
qualified professional.
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