Mortgage Protection

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Mark Notley, Mortgage Consultant at Total Home Loans discusses mortgage protection, the policies available and what they cover.

The above podcast includes information which was correct at recording, some information may have changed.  See the below page for up to date information.

Why is mortgage protection so important?

Mortgage protection is a protection is a group of products that gives you the confidence that your family will be looked after in the event of your death. You get the knowledge and reassurance that any mortgages could be paid off, your family’s household bills or living expenses can be paid, when you’re no longer there to support your family. 

As well as being very important, for most people, it is very inexpensive. It’s a lot cheaper than you realise. Speak to your Mortgage Broker or protection adviser to compare quotes, to see just how cheap it is for that peace of mind.

What about mortgages that have been completed without protection? 

If you’re a single person, it’s not as important to have mortgage protection, because it will go to your estate if you die, however it is still something to consider if you’re in a position to do so. If you’re on a joint mortgage, then, of course, the other person will be left with the whole of the mortgage to repay, and they may not be able to afford it.

Mortgage protection will help your partner and family to pay a lump sum off your mortgage or maintain their current lifestyle and cover mortgage payments, as well as protect them against potential future costs.

Do we need critical illness cover?

Critical illness cover can be an addition to Life Insurance or Mortgage Protection, and again, it can be quite inexpensive. Critical Illness cover is based on paying for child care, adapting your home to new ways of living, settling a mortgage or things that you need to consider when you’re planning for your financial future, if you become critically ill. 

If your family lost their main source of income, covering the bills might not be so easy. Critical illness cover is a protection for your family in the event you fall seriously ill. It provides a lump sum payment, providing your illness is on the list of qualifying conditions on the policy.

What is Income Protection?

Income Protection Insurance offers financial support against a loss of earnings, generally due to illness or injury. A great many workers per year are unable to work due to prolonged sickness or injury and most of them experience a sudden loss of income, which could be devastating for them and their families. It’s therefore another important protection that you may be surprised at how inexpensive it is. 

What is Family Income Benefit?

Family Income Benefit is a type of life insurance that will give regular financial support to the family of the policy older if they die or have a terminal illness. It secures an ongoing income for your families with a monthly payment, rather than a lump sum. This form of payment can ease the burden of your bills and help make things more manageable for those that have been left behind. 

Speak To An Expert

Total Home Loans are a national mortgage broker with whole of market access. Their combined experience of over 50 years in the mortgage and financial services industry means they have an enviable reputation and one which makes them well-placed to find the most suitable mortgage solution for you.

Can you combine policies?

You can combine some of the policies, it’s important to see a broker for financial advice, however, to see which policies can be combined with one another. Sometimes it will make it cheaper for you to have one policy, but certainly it depends on your health situation, your budget etc, therefore, which ones you should combine should be decided on a case by case basis. Speak to your adviser and get advice on which ones will be suitable for you.

What about planning for inheritance tax?

The inheritance tax limit changes annually, so you need to keep up to date with what you’re allowed to inherit without having to pay tax. It’s an important thing in today’s world because a lot of properties are now very expensive. 

You may have a relative that leaves you a property in their will, and if it’s valued above a certain amount of money, for example, with the properties worth £534,000, which would be average in London in January 2023 (source Office for National Statistics – uk house price index), you would have to pay a tax liability on that inheritance.

You can insure against that using a policy that will pay out in the event of the person’s death, to cover any tax that might be due from the inheritance tax situation.

How much should I budget on mortgage protection?

It is difficult to put a budget against this, as it’s very personal to each individual’s needs, and  any adviser or Mortgage Broker will be able to quote you for all these items. It’s not a good idea to take on a mortgage without protection, at least some of the protection. 

Many people see protection as wasted money because it’s not providing something tangible. With protection, you never see it until you need it. If anybody would like advice on this subject, navigate to the contact page and get in touch.

Estate Planning and Inheritance tax planning are not regulated by the Financial Conduct Authority.

Kevin Franklin

May 31, 2022


Very professional company. I’m 63 Years old and was having trouble sorting any kind of mortgage but Mark from Total Home Loans saved the day. please do not hesitate to contact them first as I wasted a lot of time hunting around for others.

Well done Mark and the team, the number 1 company.

Lolita Cooksley

May 16, 2022


Very professional fast efficient service and really caring and genuine people to deal with. They have helped us with our mortgage twice and been great both times.

We wouldn’t hesitate to use them again in future.

Karin Salmons

May 16, 2022


Thanks to Total Home Loans and their patience, care and understanding, along with their skill and kindness, my partner and myself are now home owners something I never thought would happen,

Please even if you think it’s not something you can achieve give Total Home Loans a call they will work for you.

Again thank you all at Total Homes Loans.

Arfan Ramzan

May 5, 2022


Great service, I tried so many brokers but no one could help but Total Home Loans were the only ones who found me a lender. It was really hard to find someone, I went to 8 brokers all found online with there so called promising words trying to bring customers in still no good for me but Total Home Loans got the job done, excellent service, will recommend 💯💯💯 and there was no fee till all applications was complete unlike some brokers.

Steve Greenfield

May 4, 2022


Very happy with my experience with Total Home Loans. Very professional company, were always quick to reply and action whatever was needed.

Will definitely be back! I’ve already recommended them to a friend and they had the same positive experience that I had.

Why Total Home Loans?