You have to consider what would happen if you weren’t around, no longer providing an income and not able to support your family. While none of us like to contemplate illness or death, the reality is that the worst can happen. If tragedy strikes, it’s essential to ensure your home and your loved ones are financially protected. This can include clearing debts, supporting your families lifestyle and helping them continue with life as a single parent. This can be in the form of a lump sum, or as an going monthly income, to help your them get through the difficult time.
At Teesside Money, we understand that your mortgage is your largest debt, and we are here to help you protect it. You likely receive an annual statement from your lender, reminding you of this crucial financial responsibility. But amid the excitement of buying a new home, it’s easy to overlook the importance of financial protection—especially those scenarios we’d rather not think about.
What would happen if you or your partner became seriously ill, or even worse, passed away? How would the mortgage be paid each month? While it’s uncomfortable to consider, protecting yourself and ensuring your mortgage is repaid in the event of death or critical illness is simply common sense. That’s where mortgage protection comes in.
Our team at Teesside Money is committed to providing tailored family and mortgage protection advice, ensuring that your family remains secure, no matter what happens. We will approach this sensitive subject sympathetically, offering the right solutions based on your circumstances and budget. If after our advice, you decide that mortgage protection isn’t for you, at least you’ll have made an informed decision.
Your income doesn’t just cover the mortgage—it supports your entire lifestyle. It helps pay for everyday essentials, secures your future, and ensures your family’s well-being. Without it, you wouldn’t be able to cover your essential bills, put food on the table, save for retirement, or support your children through university.
These days, most households rely on the income of two people to pay the bills, including the mortgage. So, think for a moment: what would happen if your household lost one of its incomes due to illness or death?
While it’s hard to imagine, many people take the sensible step of planning for the worst. By doing so, they protect themselves and their families against the financial impact of illness or death. We recommend family and mortgage protection for all our clients. The decision on how to proceed is ultimately up to you, but at least you’ll be able to decide based on the facts and expert advice.
As a business owner or self-employed individual, you and your family are particularly vulnerable to the financial effects of illness or death. Unlike employees, who often have benefits like death-in-service schemes, sick pay, and private medical insurance, small business owners don’t have these protections in place.
We understand the challenges of running a business and the natural tendency to focus on the day-to-day operations. But it’s crucial to look at the bigger picture and plan for the unexpected. Ask yourself:
While paying for insurance may not be a priority for many, we know from experience how vital it is. We’ve seen the consequences when mortgage protection and family protection aren’t in place when they’re needed most. As your trusted advisers at Teesside Money, we’ll explain the various options available, make recommendations, and help you decide on the right course of action for you and your family.
At Teesside Money, we believe that the right protection plan can provide peace of mind for you and your loved ones. Whether you’re a homeowner, a business owner, or self-employed, we offer expert mortgage protection and family, and mortgage protection advice tailored to your individual needs.
Let us help you safeguard your financial future today, and if you’re a business owner, we can also advise you on Relevant life plans which is a tax efficient way of doing things.
The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK
Think carefully before securing debt against your home. Your home may be repossessed if you do not keep up payments on your mortgage or any other loans secured on it.
Teesside Money Limited Company Registration number 10991314. Registered Address at 80 Coleman Street, London, England, EC2R 5BJ, with a Trading Address at Fast Track House, Thornaby, Stockton on Tees, TS17 6PT. Teesside Money Limited is registered with the Data Protection Act 1998 registration No. ZA287646 and is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 799826.