Mortgage protection?

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dion Posts: 986
Just wondering if this is a common cover for people with mortgages, we have this with EBS on our mortgage, its 100e per month and it only covers after been out of work 60 days, which i think is to long if anything were to happen, eg illness, redunduncy, accident..I think its a bit expensive for what there offering just wondering if anyone has any feedback on this..
Shopgirl 1 Posts: 660
This isn't what is known as mortgage protection, which is the life cover lenders require you to have. I think what you are referring to is mortgage repayment protection. I don't think many people would have this, we had it last year for awhile but it was working out very expensive and we realised there seemed to be a lot of terms and conditions that would make it very difficult for it to be paid out, can't remember who we had it with anymore, we got it through a broker.
Bigsurprise Posts: 961
The cost of repayment protection went up massively as more & more people lost their jobs & yes it holds a lot of terms & conditions. Possibly not worth the premium
dion Posts: 986
Thank you for replies ladies, think il cancel it.