Protection When Buying a House

Purchasing a home can be one of life’s most significant financial commitments. At CRC Mortgages, our goal is to guide you through the process and help you secure the right mortgage arrangement alongside suitable protection policies. Protection when buying a house provides a safety net that can be invaluable during times of uncertainty, whether you’re facing illness, unemployment or unexpected life events.

 

Why Consider Protection When Buying a House?

Buying a home is a major investment, often involving substantial financial commitments and responsibilities. While securing a mortgage is a crucial initial step, considering how you’ll safeguard your home and loved ones against unforeseen circumstances is equally important. Protection policies, like life cover, critical illness cover or income protection, offer reassurance that you and your family could continue to manage repayments and household expenses as much as possible in challenging circumstances.

 

Types of Protection Available When Buying a House

At CRC Mortgages, we offer various protection insurance options suited to your individual circumstances and requirements:

 

• Life Insurance: Ensuring your family can remain in your home if the worst happens, life insurance policies provide a lump sum or regular payments to your beneficiaries if you pass away during the policy timeframe.
• Critical Illness Cover: A policy designed to pay out a lump sum if you are diagnosed with a serious illness listed within your policy terms. This type of protection can be used to help manage living expenses, medical costs, or mortgage repayments during treatment and recovery periods.
• Income Protection: Providing regular monthly payments if ill health or injury prevents you from working, income protection helps you stay as financially secure as possible during extended periods away from employment.
• Mortgage Protection Insurance: Specifically tailored to mortgage repayments, this form of cover ensures your mortgage is paid should you fall ill, become injured, or lose your employment unexpectedly.

 

How CRC Mortgages Can Help You Choose Protection Cover

Our experienced mortgage advisors understand how daunting it can feel to arrange protection when buying a house. At CRC Mortgages, we can guide you through the different options available, clearly explaining terms and conditions as well as policy exclusions. We listen to your needs and priorities to help you select suitable protection that meets your requirements and budget as closely as possible.

 

We recognise everyone has unique circumstances, which is why our advisors take time to understand your individual financial commitments and future plans. Our aim is always to simplify the process as much as possible, helping you make informed decisions that align with your long-term objectives.

 

The Benefits of Arranging Protection Early in the Home Buying Process

Arranging protection early helps ensure that you, your family and your assets are covered from the outset. Protection cover arranged proactively, alongside your mortgage agreement, offers peace of mind knowing you have suitable measures in place should unforeseen issues arise.

 

Additionally, securing suitable protection cover from the start can often be more affordable compared to arranging it later in life, as premiums can fluctuate depending on age and health status.

 

Why Choose CRC Mortgages for Protection Advice?

Located in Liverpool, CRC Mortgages pride ourselves on delivering friendly, professional and transparent mortgage and protection advice tailored specifically to you. Our approachable team provides high-quality guidance, clearly outlining every detail so you can confidently select appropriate protection alongside your mortgage.

 

We are committed to helping you safeguard your home and financial future effectively, maintaining the highest standards of customer support and care throughout your home-buying journey.

 

Frequently Asked Questions about Protection When Buying a House

When Should I Arrange Protection When Buying My Home?

While it’s possible to arrange protection at any time, doing so when arranging your mortgage is usually advisable. Early planning ensures appropriate cover from the start of your homeownership.

 

Can I Change My Protection Cover Later On?

Yes, protection policies can usually be adjusted over time to reflect life changes. However, changes to your policy may affect your premiums and coverage, so it’s essential to check your policy terms and consult with a financial advisor before making amendments.

 

How Much Does Protection Cover Cost?

The cost of protection policies varies depending on several factors, including your age, health status, lifestyle and the type of protection chosen. Our mortgage advisors will help you explore suitable options to match your financial circumstances and budget.

 

Do I Need Protection If I Have No Dependants?

If you have no dependants or family members financially reliant on you, some forms of protection may not be necessary. However, you might still consider critical illness or income protection to help manage financial commitments if unexpected circumstances leave you unable to work.

 

Do I Have to Buy Protection Insurance Through My Mortgage Advisor?

No, there is no obligation to arrange your protection insurance through your mortgage advisor. However, using CRC Mortgages can provide convenience, and we can help you ensure your policy aligns effectively with your mortgage commitments.

 

For more information on protection when buying a house or arranging your mortgage, please contact CRC Mortgages. We’re here to help you navigate your journey to homeownership as smoothly as possible.