Insurance

Insurance

Life Insurance

Life insurance is a policy which pays out a tax free lump sum to your beneficiaries when you pass.
The policy is designed to provide peace of mind. Your loved ones won’t struggle financially in the event of your death and can use the pay out for paying off your mortgage.
We provide several different types of policies, and the right one for you will depend on your individual circumstances.

Types of cover

Level term assurance

The amount of cover you have remains the same during the term of the policy. This type of cover is often taken out alongside interest-only mortgages, as the capital you owe does not decrease over time.

Decreasing term assurance

The amount of cover you have reduces over time. Decreasing policies are often taken out at the same time as a repayment mortgage, meaning the amount of cover you have decreases along with the capital you owe.

Whole-of-life insurance

This protects you for your lifetime, however it does mean you’ll pay premiums up until the point you pass, with costs being increased because you’re guaranteed a pay-out

Helping Hand Mortgages are fully committed to provide a professional service, ensuring you have the most suitable option available for your circumstances and the requirements to protect your home and family.

Critical Illness

Life or critical illness cover gives you or your family a full pay out or a regular monthly income, in the event you; Pass unexpectedly, get diagnosed with a terminal illness, have one or more critical illness from a specified list provided by the insurer, or are permenantly disabled.

Our cover will help you, your partner, or your family to cope with the financial burdens caused by the critical illness or passing.

General Insurance / Buildings & Contents Insurance

Having buildings insurance is mandatory when taking out a mortgage. Regardless of whether you’re buying a property or remortgaging. If you are purchasing a leasehold property, then this may be covered by a maintenance charge. However, if you are purchasing a freehold property, the buildings insurance will usually need to be covered by you.

Every mortgage offer has a condition that buildings insurance is in place. If you are purchasing a freehold property, you will need buildings insurance before exchanging contracts.

Aside from the mandatory aspect, you should insure your property and contents. Our advice service helps guide you through the process, ensuring your property and contents are covered to the right level.

We offer bespoke, high quality, 5 star defaqto policies to ensure you have the best cover possible.

Income Protection & ASU

Do you think you could cope financially if you were sick or injured and unable to work for a while?

If you were sick or injured and unable to work for some time, how long do you think your employer would provide sick pay?

How long will your savings last if you’re self employed?

Income Protection is designed to help protect against the financial impact on you or your family’s lifestyle.

Commercial Insurance

We can carry out a free commercial insurance review. This means we can check your current cover to make sure it provides the level of protection you need and find better rates for you.  You can then use the savings to reduce the strain on your monthly budget. Allowing you to focus on growing the value in your business during these unprecidented times.

Business Protection

The importance of business protection is often overlooked. It helps business owners plan for the unexpected by providing cover to ensure the business can continue with minimal disruption following the loss of an key employee or business owners through death, critical illness or temporary disablement.

Key Person

  • Provides a financial safety net if a key member of staff dies or is diagnosed with a serious illness (if Critical Illness Cover is also selected)
  • The claim is paid directly to the company or partners, allowing breathing space to help keep the business trading with little disruption.
 

Relevant Life Cover

  • Allows companies to offer a death-in-service benefit to its employees (including salaried directors)
  • Is set up by the company and pays out a tax-free, lump sum on the death (or diagnosis of a terminal illness) of the person insured.
 

Share & Partnership Protection

  • Helps business owners keep control of the company if one of them passes or is diagnosed with a critical illness.

Pay Day Loans

Yes, you can still get a mortgage if you have had Pay Day Loans in the past. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.

 High Street Lenders do not mortgage like to see pay day loans on a credit file or bank statement as indicates to them of financial difficulties in the past or currently as short term finance to manage current repayments.

It will depend on certain criteria based on the Pay Day Loans showing as registered such as:

When the loan taken out
How much was borrowed
How many loans taken out
How quickly they were paid off
The story behind why you needed to take the loans
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Low or No Credit Score

Yes, you can still get a mortgage if you have a low credit score or no credit score. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.

High Street lenders are dealing with a high volume of cases each day so will credit score each application and if you do not meet that credit score then will decline the application on that basis alone. It is a computer says no situation with no appeal.

We will check with lenders who manually check your credit file so not dealing with a computer to find the best solution for you.

Repossession

Yes, you can still get a mortgage if you have been Repossessed in the past. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.

It will depend on certain criteria based on the Repossession such as:

The date you were repossessed
The reason why you were repossessed
Any other credit issues
You credit history since being repossessed

Late payments can be common and payments can be missed in certain circumstances and we understand this and can still help find a solution for you.

Late payments are not as bad as a missed payment as you still made that payment. Normally as long as you made the payment before the next monthly payment due then would not show as a missed payment or arrear on your credit file.

We would need to understand the reasons that led to the IVA, how long ago it was and the impact that had on your credit file.

Late & Missed Payments

Yes, you can still get a mortgage if you have had late and/or missed payments on credit. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.

Late payments can be common and payments can be missed in certain circumstances and we understand this and can still help find a solution for you.

Late payments are not as bad as a missed payment as you still made that payment. Normally as long as you made the payment before the next monthly payment due then would not show as a missed payment or arrear on your credit file.

We would need to understand the reasons that led to the IVA, how long ago it was and the impact that had on your credit file.

IVA

Yes, you can still get a mortgage if you have been in an IVA in the past. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.

We would need to understand the reasons that led to the IVA, how long ago it was and the impact that had on your credit file.

Debt Management Plans

Yes you can still get a mortgage if you have a Debt Management Plan or been in one in the past. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.

With a Debt Management Plan you would be in an arrangement via a company like StepChange and be paying a lower amount to the people you owe over a longer period of time. This can affect your credit file as the people you owe money to will normally report it as an arrangement on your credit file, in some circumstances it may be reported as a Default.

Even if you are withing a Debt Management Plan there are specialist lenders who will still lend to you based on the payment history of the plan.

Bankruptcy

Yes you can still get a mortgage if you have been bankrupt in the past. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.

 

We would need to understand the reasons that led the Bankruptcy, how long ago it was and the impact that had on your credit file.

Defaults

You can still get a mortgage with a Default. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.

Some of these lenders will ignore small Default’s if registered by a mobile phone company or other communication companies.

It will depend on certain criteria based on the Default’s showing as registered such as:

When they were registered
If satisfied or unsatisfied
The value of the Defaults
The number of Defaults
The story behind the circumstances

CCJ's

You can still get a mortgage with a CCJ. It may be more difficult and limit the amount of lenders and products available but there are Specialist Mortgage Lenders that deal with brokers like us to help.

It will depend on certain criteria based on the CCJ’s showing as registered such as:

When they were registered

If satisfied or unsatisfied

The value of the CCJ’s

The number of CCJ’s

The story behind the circumstances