Mortgages

Yes, although naturally it could be more difficult, we have helped many of our clients with a bad credit history find affordable mortgage deals.

 

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Absolutely not, we only charge on the successful completion of your mortgage application.

 

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Most lenders will conduct a thorough financial evaluation which takes into account your net income, regular outgoings, credit score and any loans or credit cards you currently have. The value of the property that is being put up for security will also be taken into account.

 

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Typically, a mortgage will last around 20 years although this can change depending on a whole variety of factors. You’ll know the exact length of your mortgage according to your repayment plan.

 

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There a various different types of mortgages available depending on your individual circumstances - read more about the various types of mortgage here.

 

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Yes, this kind of mortgage is known as a buy-to-let mortgage and can be interest only. The repayment plan is worked out based on the potential rental income of the property.

In most cases, yes. The majority of mortgage providers will charge an early repayment charge as you are losing the lender money in interest that you would otherwise be paying over the course of the term.

 

If for whatever reason you have trouble keeping up your mortgage repayments you need to contact your lender immediately. They may be able to offer you a “repayment holiday” pausing payments for a short while or start you on a new adjusted repayment plan. The worst thing you can do is miss any repayments as this could result in your home being repossessed.

 

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In most cases yes you can, we can typically find the right lender to suit your circumstances. 

 

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Life Insurance FAQs

It’s a personal preference, but life insurance is one of the best ways to provide financial protection for your family if you passed away.

 

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It depends on the policy, some offer “guaranteed acceptance” whereas others will require a general check-up to measure blood pressure, pulse, height and weight. Others take into account your family medical history and whether you are a smoker or not.

 

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Depending on the policy, your beneficiaries will either be paid a lump sum or as a regular income for a set period of time.

 

 

Experts suggest a cash sum equal to ten times your annual salary although this depends largely on your personal circumstances. If you have an outstanding mortgage, you’ll want to cover that as well as any other loans you have. Other things to consider are childcare expenses and university fees.

 

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How much life insurance do I need?

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Each provider has their own set of criteria that determines how much you’ll pay but it will be worked out by the sum assured, the length of term, the cover you want and any extra add-ons.

Yes, certain providers specialise in providing cover for people with specific conditions. Not disclosing any important medical information could mean your family wouldn’t be able to make a successful claim.

 

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Not necessarily, joint policies are available and are usually cheaper. However, it often makes more sense to take out separate policies as there is only one payout.

 

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No, life insurance payouts are not subject to income tax, but could be liable for inheritance tax at 40% if your estate is worth more than £325,000.

 

Some policies allow you to make changes but not all. If your policy doesn’t allow this then it may be more cost effective to take out “top-up” insurance with another provider.

Income Protections FAQs

Unless you are able to meet all your financial commitments should you be unable to work, income protection insurance is one of the best options available.

 

 

Depending on the policy, you can be covered for accident and sickness only or unemployment only. Some policies, known as an ASU, cover you against all three.

 

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No, you are not legally required to have any income protection insurance, but we do recommend it.  

 

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Absolutely, self-employed people are one of the most common groups to take out income protection insurance due to the potential risk of unemployed periods.

 

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Premiums are based on age, general health, occupation, fitness, smoker status and how much alcohol you consume.

 

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It’s possible that any means-tested benefits could be affected if you were to make a successful clai

 

 

On paper, it seems these two types of policies are the similar but the key difference is that critical illness protection usually pays out a one-off lump sum if you are diagnosed with an illness that would show a high risk of you not being able to return to work again.

 

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This depends on the deferred period set out at the start of your plan which starts from the first day you are unable to work. Self-employed people may be paid in 7 days otherwise it’s usually 3, 6 or 12 months. It’s also worth noting premiums are often cheaper the longer the deferred period is.

 

No, the policy is designed to only pay out if you’re unable to work. Once the policy is expired you won’t get anything back.

Car Insurance FAQs

Yes, everyone is legally required to have at least the basic level of car insurance

 

The three main types of policy are third party, third party fire and theft and comprehensive cover.

For the vast majority of policies, it’s cheaper to pay up front annually.

This refers to the amount you pay if you need to make a claim. This is made up of the voluntary excess which is the amount you choose to pay towards any claim and the compulsory excess which is specified by the insurance company.

A no claims bonus (NCB) is awarded for each year you hold car insurance in your own name without making a claim.

This policy allows motorists with two or more cars who live at the same address to cover their cars on the same policy, which can be cheaper than two individual policies.

Yes, if you have any points on your license it will raise the cost of your premiums. You may also have to renew your insurance if you incur any points while already covered.

Quite simply, insurance companies consider drivers under the age of 25 considerably more likely to be involved in accidents. You can lower premiums by adding a more experienced driver to the policy, earning you Pass Plus qualification or using a “black box”.

Home Insurance FAQs

It’s not required by law to have home insurance, but most mortgage lenders insist you have at least buildings cover in place to protect their investment.

 

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Buildings insurance covers the actual structure of your home as well as fixtures, fittings, kitchens and bathroom units. Contents cover includes anything else in your home such as TVs, jewellery and sports equipment.

 

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Depending on the situation, joint policies can often be the most cost-effective (and convenient) option available.

 

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Your landlord is responsible for taking out building insurance on the property but you may want to consider contents insurance to protect your belongings.

 

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Yes, although your premiums may be higher, the government run a scheme called Flood Re that means you can find competitively priced cover.

 

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Although accidental damage cover is optional, it’s often a good idea to take this out if you have young children.

 

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You should notify your lender about any significant changes such as letting a room out, making structural changes, changing locks or leaving your home unoccupied for more than a month. Notifying your provider means your policy won’t be compromised and it could even bring your premiums down.

 

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No, although you might find some providers include buildings cover in the package, you are under no obligation to buy cover from them.

 

You can claim at any time providing the situation is covered in your policy. For smaller items, you may need to weigh up the pros and cons before submitting the claim.

 

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Many policies do include cover for items such as your phone, tablet or Fitbit but you must check in your policy documentation to confirm this.

 

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We can help you compare deals from hundreds of insurers to find you the best deal but you can usually save money by regularly switching providers and paying your premium annually rather than monthly.

 

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Travel Insurance FAQs

You don’t need to be covered to travel, but without insurance you run the risk of being responsible for all emergency costs including medical care, repatriation expenses and replacement of valuables.

How much cover you need depends largely on where you’re going and what you plan on doing, but the The Foreign Office recommends £1m in Europe and £2m for the rest of the world.

 

Yes, premiums may be higher but it’s important to disclose any medical conditions or your policy could be void.

Normal travel insurance policies are unlikely to cover you against any activities deemed to be high-risk (e.g skiing) so you may need to look at deals that specifically cover this.

You can get dedicated cruise insurance which includes cover for more than sixty days and offers protection for a variety of activities throughout multiple countries in the world.

Yes, there are policies available that cover couples, families and other groups. There are usually strict rules surrounding these policies, so be sure to check all the smallprint.

UK travel insurance is available which can cover things like trip cancellation or losing any valuables.

The majority of policies will include cover for some of the costs involved with obtaining emergency travel documents but the price of replacing your passport when you are back in the UK is unlikely to be covered.