Insurances and what they could mean to you
Buying your house is often an exciting time and will probably be the largest purchase and financial commitment that you will make. It is a sad fact that many people get caught up in the excitement of their new home but very little thought goes in to how you will keep it if things go wrong!
We insure our cars, pets and holidays as we deem these to be valuable to us but what about our homes and ourselves? While buildings insurance is compulsory with a mortgage we don’t always correctly assess the value of our belongings or your own value.
Some of the important questions that you should ask yourself when committing to a mortgage are:
- Have you considered how to afford your mortgage if you are unable to work through illness?
- What if your partner or spouse died, how would this affect your ability to meet your ongoing monthly commitments?
- If you were widowed, would you need to pay for extra childcare?
- What would it cost to replace your furniture, clothing and other belongings if you had a fire in your home?
- How long could you survive on your savings if your income stopped?
At Shire Financial Services Limited we offer a holistic approach to assessing your needs. Your situation is unique to you; talking this through with one of our experienced Brokers will help you better understand the potential risks and how to protect yourself against them.
Whether you need Income Protection to replace lost salary if unable to work through illness, Life Insurance to repay your mortgage in the event of death, Family Income Benefit to provide an income for your family or Critical Illness Cover for life’s nasties that surprise us all too often. We can help you secure your future with financial protection when you need it the most.
For further information about topics covered on this page, please click the links below
Still Not Sure?
We can help you by searching insurance products based on a fair and personal analysis for the most suitable Defaqto 5 star rated cover for your circumstances. Contact Us to find out more.
JUST SOME OF THE INSURERS WE WORK WITH
Shire Financial Services Ltd
Surrey House, 41 High Street,
Newmarket Suffolk CB8 8NA
Registered Company No.
Country of Registration: England
Mon-Fri: 9:30am to 5:30pm
Sat and Evenings: By Appointment
We receive commission from the mortgage lender. Also, depending on mortgage type and complexity we usually charge a fee between £200-500 and for Expatriate mortgages, a fee of £800. Fees are payable upon Mortgage Offer.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
SHIRE FINANCIAL SERVICES LIMITED IS AN APPOINTED REPRESENTATIVE OF SESAME LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.
COMMERCIAL MORTGAGES, INCLUDING BUSINESS BUY TO LET, ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY. FOR COMMERCIAL MORTGAGES WE ACT AS INTRODUCERS ONLY.
THE FCA DOES NOT REGULATE ESTATE AGENTS, SURVEYS AND SOME FORMS OF BUY TO LET MORTGAGES.
FOR ESTATE AGENTS AND SURVEYS, WE ACT AS INTRODUCERS ONLY.
THE FCA DOES NOT REGULATE SOLICITORS AND WE ACT AS INTRODUCERS ONLY.
Equity release refers to home reversion plans and lifetime mortgages. To understand the features and risks ask for a personalised illustration.