Why you will need mortgage insurance

When you are happy and healthy, paying out extra money to protect you against unwelcome and seemingly unlikely events can seem like a needless expense. So why bother?

Regardless of your relationship with the lender, if you fail to make a payment for that length of time, you will be in extremely serious danger of having your home repossessed. Unless you have sufficient savings to see you through any hard times, it is well worth considering the options that are available for helping you get through such circumstances. Simply consider the following information and you may well be convinced:

• 90 families have their home repossessed each day, the the majority due to the financial problems associated with unemployment.
• One in three people aged between 25-34 have experienced unemployment for a period in excess of one month.
• Almost one in five working age households (3.4 million) have someone who is currently unemployed.
• Today in Britain there are almost 1,000,000 persons who are registered as unemployed.
• 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.
• Every adult in Britain is five times more likely to suffer a serious disability than die before the age of 60.
• Today in Britain, 2,900 people will start claiming state disability benefits.
• 1,800,000 people in Britain are already disabled and have been unable to work for 12 months or more.