Mortgage Information - Am I protected?

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Mortgage Protection

A secured homeowner loan is subject to The Consumer Credit Act 1974. The Act contains strict regulations about how money is lent and covers loans up to a value of £25,000.

Loans for sums greater than £25,000 are unregulated.

When taking out a secured loan you will be asked to sign a credit agreement, which should be read very carefully as the terms are binding. For regulated loans of under £25,000 the lender must provide a consideration period of 7 days. Lenders offer insurance policies and payment protection schemes to cover your monthly repayments in the event of accident, sickness, unemployment and death (conditions apply). Cover does vary between lenders, as does the cost, therefore you should check individual policies for what is included, and just as importantly, and more important what they excluded.

Click here for Payment Protection.

If you would like to Consolidate your debt the try our debt consolidation service

Looking for life insurance? Look no further; click here for an online comparison with some of the UK's leading insurers.

Once you have an idea of how much insurance cover you need, then use our insurance calculator, or complete the FREE quick enquiry form and one of Moneyquest's Financial Advisors will provide you with a personalised FREE insurance quotation and all the product information you need.

To complete the short form and receive your FREE quote click here.

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