Through our years of giving our customers expert Mortgage Advice in Birmingham, our Specialist Mortgage Advisors in Birmingham have found that enquiries from renters interested in becoming First Time Buyers in Birmingham are always on the rise. They can achieve this by purchasing their rental property from their landlord.
In the landlord’s eyes, selling a property to its existing tenant can be more manageable and straightforward. Because of this, some landlords may give the option for the tenant to buy the property off them before it goes on the open market.
If you are living in a rental property and would like to purchase it from your buy to let landlord, it is recommended that you seek, Buy to Let Mortgage Advice in Birmingham to discuss the offer with them directly on a priority basis.
In the current climate, many landlords are now required to pay more tax than they would have done before due to government tax relief clamps. This can result in many landlords finishing their housing ventures and seeking another investment in a different market.
Those who are investors and are looking at remaining in their role as a landlord which in turn keeps the property market going usually work around these legislative changes. In terms of buy to let landlords, they see their property as a long-term investment. However, amateur landlords are normally aiming to make a quick investment so will sell things if circumstances don’t benefit them.
Not only do landlords sometimes benefit from this option, but many sitting tenants also find it beneficial to buy from landlords. Some of these advantages include:
In the case where you both decide on the price and it is below the property’s value, a lender may choose to put the property’s equity towards your deposit. If there is enough equity, you may not require a deposit at all.
However, If a deposit is needed, you may be wondering how much deposit do I need? Here your open and honest Mortgage Broker in Birmingham will break down how much you might need given your situation.
Once you have gotten the hard part out of the way, that being saving up for your deposit (or if the equity has been utilised for a housing deposit), then the next step is to get yourself organised for a mortgage in Birmingham.
It’s better to prepare yourself in advance, making a collection of everything a mortgage lender might wish to see. Being organised can save you time and frustration further along the process, especially if it’s something that could’ve easily been arranged at the start.
If you are an individual who lives in a council property, you may have the opportunity to purchase your property through the Right to Buy Scheme in Birmingham. Regarding that you have lived there for a long period of time.
The Right to Buy scheme was introduced by the Government and provides the option to purchase your council property at a discounted price. Your deposit will be the proposed discount which gives you the chance to organise your savings left over to support you through the full process.
In the 80s, the Right to Buy scheme became a helpful option to many First Time Buyers in Birmingham because they were able to put their foot on the property ladder and become homeowners. However, not everyone agreed with the scheme which made it a controversial subject.
Many people saw the scheme as a way for the government to turn any home into privately owned properties meaning they will be taking off the public sector which wasn’t ideal when there was already not enough supply of housing. This resulted in a change among many council estates.
The process begins by seeing if the individual is eligible to purchase their property which is done by completing an RTB1 form.
Then you will need to see how much your property amounts to which will be done by your local council. By doing this, you will know the percentage discount you’re entitled to which can provide to with more of an idea of the figures involved with the mortgage.
You will then be required to fill out the appropriate forms included in a pack that you will get from your local authority. By doing this, you will be able to proceed. The lender will calculate the amount you’re able to borrow in the same way as any other mortgage: based on your income and expenditure.
Because lenders will be looking at these two financial factors, it’s important that you are sensible with your finances as well as checking your credit score. A credit score is a three-digit number that use to help decide whether you get accepted or declined for a mortgage. If your credit score is needs a boost, here are the different ways how to improve your credit score in Birmingham.
Like with many mortgage, there are fees involved as you go through the mortgage process. Below is just a few to consider:
The costs of buying a home can be expensive, which is why you need to understand this when it comes to property investment. If you want to speak to a Moving Home Mortgage Advisor in Birmingham, feel free to get in touch and book your free appointment online today.
The reason why the Right to Buy Scheme was introduced was to allow people to become homeowners. In the case where you withdraw your application further into your process, you may be issued a penalty fee because of withdrawing your application.
The fee will need to be actioned by repaying a sum of money linked to the original property discount that was provided to you at the start of the process. On the flip side, many people do take this opportunity to utilise the scheme as you are in charge of what you want to do with the home and don’t have to wait for additional services to carry out any repairs.
Here at Birminghammoneyman, we have a reputation for providing expert Right to Buy Mortgage Advice in Birmingham and helping you throughout your mortgage journey. Our Mortgage Advisors in Birmingham work hard to support customers achieve their mortgage goals, Right to Buy customers included.
Whether you are a First Time Buyer in Birmingham looking to buy your first home and deciding on the location or a looking at Moving Home in Birmingham in an area that is new to you, we are here to help!
Check out our helpful guide below where we have collated a list of the best places to live in Birmingham.
The name Bournville is infamous throughout the U.K as being known as the popular dark chocolate known as Bournville chocolate. Many people don’t know, however, that Bournville is a historic town that was home to the Cadbury family. In the town stands the Cadbury family’s famous business ‘Cadbury World’ which still stands in the area to this day.
Bournville is a ‘model’ village founded by Cadbury and was initially a place where the employees of Cadbury World would live. Today, it’s an area full of students attending the University of Birmingham that is within close proximity. The area is full of employment opportunities, perfect for young people looking for new opportunities in Bournville.
If you are a First Time Buyer in Birmingham or are looking to move into your dream home in the infamous village of Bournville, speak to a Mortgage Advisor in Birmingham today to see how they can help you towards your mortgage goals.
If you go southwest of Birmingham, not too far away from Bournville stands Stirchley. This area has a rich history with its earliest known settlement dating back to 1658.
According to Condé Nast, Stirchley was known as of the “Coolest Neighbourhoods in the UK”. The area has picturesque scenery showing off its Victorian terracing across properties as well as its River Rea which runs through the area. With a quiet rural atmosphere and a plethora of Victorian-style properties, Stirchley could be the perfect place for you.
Erdington is a suburb that borders the Royal Town of Sutton Coldfield which is north east of Central Birmingham. Similar to many of the areas mentioned in this list and the surrounding areas of Birmingham overall, Erdington shows off its history through its beautiful Victorian-style properties
Spaghetti Junction is located within Erdington and a part of the M6 Motorway which is located in the southern areas. This area is also the starting pointing point of Britain’s longest bridge, Bromford Viaduct. If you are looking at living in an area full of amenities, Erdington is the home of The Fort Shopping Park which is full of well known retail establishments.
If you are a home buyer looking at buying a property in Birmingham but would like to live in a more rural area outside the busy city landscape, Erdington could be your perfect match. An expert Mortgage Broker in Birmingham will be available to go through your mortgage options.
If you are a JJR Tolkein fan, it’s likely that you are familiar with Moseley, famous for being the inspiration behind the ‘old forest’ in his books The Hobbit and The Lord of The Rings.
As well as this, Moseley is full of popular shops, pubs and cultural scenes. The village community has been recognised for a lot of factors like schools, crime rates, house prices and transport links.
Moseley is known to be a popular and desirable area to live in due to its abundance of facilities like independent bars and restaurants. Along with this, there are a handful of boutiques and specialist retailers.
For fans of tea and custard (but not together), Digbeth could be the place for you! The area was known as the industrial hub due to its proximity to both the Grand Union Canal and Digbeth Branch Canal. Now, the area is the place for the creative industry, due to the area being home to Fazeley Studios and The Custard Factory hosting a wide variety of digital and cultural businesses.
Showing off Birmingham’s past and future, Digbeth is full of modern apartments built into the area’s former warehouses and culture and is known as one of Birmingham’s most adapted places to live.
Edgbaston is a leafy suburban area in Birmingham and is known for its picturesque green spaces and Botanical Gardens.
If you are a sports fan thinking of moving into the area, this could be the perfect place for you. Edgbaston is home to Edgbaston Cricket Ground and the Edgbaston Archery as well as the Lawn Tennis Society which is one of the oldest lawn tennis clubs in the world.
As well as its sporting reputation, Edgbaston has many other attractions. The University of Birmingham includes a stunning Victorian campus as well as a plethora of Michelin-starred restaurants. The area has a range of different types of properties at reasonable prices making it a brilliant place to take that first step on the property ladder.
Situated 11 miles northeast of Birmingham, Sutton Coldfield has a variety of both upscale and most sought living areas. Whatever homeowner you are, Sutton Coldfield could be the place for you. If you have a family or looking to start one, there are local schools available. Looking for things to do in the area? Sutton Coldfield is full of shops, bars, and restaurants. as well as brilliant transport links into the city of Birmingham being a good option for commuters.
Sutton Coldfield is also full of green space for your daily exercise! This includes the Sutton National Park which has a heathland of over 2,000 acres of woodlands, seven lakes, wetlands, and marshes. Each area has its own large selection of plants and wildfire, some rarely seen in the region – you may even see cattle and wild ponies that live on the land. This is just another reason why Sutton Coldfiels is the best place for First Time Buyers in Birmingham.
So, if you are looking at buying your first home or thinking of moving home in Birmingham and are in need of Mortgage Advice, Birminghammoneyman is here to help!
With over twenty years of experience in the mortgage world, we have had the opportunity of accessing some brilliant mortgage products. These deals have resulted in us helping thousands of customers with varying circumstances find a product that is fitting for their situation. Our goal as an expert Mortgage Broker in Birmingham is to take the stress away and provide support on your mortgage journey.
Whether you are a First Time Buyer or a looking at Moving Home in Birmingham, get in touch with our team today who can connect you with one of our hard working and friendly Mortgage Advisor in Birmingham. Here at Birminghammoneyman, we strive in providing you with a tailored service and work hard in relieving any stress you may find in the mortgage process.
If you are definitely up for taking a further step on the property ladder and moving to one of the following surrounding areas, you will need to think about how to sell your property and fast. There is always that ‘magic number’ and a seller will always have a minimum asking price for their property, but a big factor that plays in all this is how the property is marketed and presented.
When Moving Home to Birmingham or a surrounding area, you will have to make sure that all of your information is up-to-date and correct. You will need to check that all your accounts have the right address and not somewhere previous, we cannot highlight enough the importance of updating your address in Birmingham as this will help with your mortgage application.
Since the coronavirus pandemic where we were instructed to work from, this has now become something that is permanent in many workplaces and has become a popular option. This might have been something that people never thought they would do and have preferred it when it’s been the only option for working. This has resulted in many people fully converting their kitchen, living room, or even a bedroom into a home office.
In some cases, many people were already working from home before the pandemic and some businesses have now decided for employees to from the comfort of their home, instead of commuting to the office. By doing this, many people would be saving a lot in travel expenses and saving them a lot of money.
If you are working from home on a permanent basis, it’s good to have a space in your home for when you work as a way to split up your home and working life under one roof. This is where Remortgaging in Birmingham can be beneficial for making the home improvements. Below is a few more reasons may having a home office can be beneficial:
In a time of brilliant technological advancements, many homeowners look at Remortgage Advice in Birmingham for additional funding to go towards home improvements to transform a room or perhaps a garage to a new home office. For example, an interest rate of 2% is doable over 25 years it might cost you:
It’s likely that there is not too much more than what you are paying at the moment and it can be a better option to decide the route of improving their home, instead of moving, which can be less stressful and less costly which are involved when buying a home.
The amount you will need to pay back per month will depend on many characters as well as the amount you can borrow overall. It all comes down to what you are looking to do and how you are going to do it, like the size of the extension. If you are looking to remortgage, you will also need to consider that you will be required to undergo another affordability assessment, regardless of whether you go to the same lender and just switch deals.
In the case where you are looking to remortgage for any home improvements, now is the best time to look for a remortgage deal and there are some top reasons to consider a remortgage. Our Mortgage Broker in Birmingham have access to thousands of remortgage deals that our Mortgage Advisors in Birmingham can search through to find you the deal that is fitting for you and your situation.
With an expert team of friendly Mortgage Advisors in Birmingham we can provide expert Remortgage Advice in Birmingham, to explore all your options and lend a helping hand to get you through the remortgage process, saving your time and money.
Once you get to the end of your term, your will lapse straight onto your lender’s standard variable rate of interest (SVR). This rate, when compared to your current rate, will likely be higher and increase your mortgage payments. Moreover, if you were to have a mortgage review before your fixed term ends, you could end up saving money, this highlights the importance of having your mortgage reviewed in Birmingham.
As it’s coming up to the end of your mortgage term, you should start thinking about Remortgaging in Birmingham. Getting a remortgage review booked in with a Remortgage Advisor in Birmingham could help you access a better, competitive product.
Hopefully, you have accumulated a large amount of savings for a deposit on your first property and are ready to take that first step on the property ladder. What you are trying to achieve and how your financial situation looks determines How Much Deposit You Need to put down to purchase a property in Birmingham.
Whether you are First Time Buyer in Birmingham beginning the mortgage journey or you have gone through this before and are looking to at Moving Home in Birmingham, our fast and friendly service could help you. This helpful guide can provide you with the information you need to put yourself in a position where are you mortgage ready and in a serious position to begin your mortgage application.
The first thing you need to do is obtain Mortgage Advice in Birmingham is to obtain an up-to-date credit report. Having this with you can provide an insight of your financial situation which is something your dedicated Mortgage Advisor in Birmingham will need an idea of. Along with this, they will be able to see your overall credit rating which can help them match you to a range of mortgage deals when it comes to taking one out.
Don’t panic if you are unable to obtain an up-to-date credit report in time, your advisor will be able to help with getting one.
Prior to beginning the mortgage journey, it’s important that you Get an Agreement in Principle. It’s a document you will need to make an offer on a property! Having an AIP with you shows the estate agent that a lender will agree to lend you a set amount from them in principle by showing them sufficient evidence of your income, credit history etc.
Be aware that AIPs can expire usually within 30-90 days. In the event that your AIP does expire or you need help obtaining one, our team can sort this out for you normally within 24 hours of your mortgage application. Here at Birminghammoneyman, we have a passionate team who are ready to take your call.
Before starting the mortgage journey, you may have already worked out a rough estimate of your expected outgoing after you move house. As a result, you can get an idea of the amount of disposable income you have to pay your mortgage. You may have expenditures and regular outgoings like credit agreements and bills to your weekly food shop. If you are struggling with balancing out all these financial outgoings, our team will be more than happy to send you our versions of a Budget Planner to help you out.
Having a Mortgage Broker in Birmingham by your side is more than just helping you with the mortgage journey and moving home. We have a team of brilliant Mortgage Advisors in Birmingham who will provide a tailored service that can help you become prepared for the mortgage journey.
When it comes to beginning your mortgage application in Birmingham, it’s key that you have all of our documents prepared.
In order to prove that you are who you say are, you need to provide a form of ID. Usually, this is confirmed with a driving license or a passport. You are not allowed to use the same form of ID twice, therefore, if you use your passport for this proof of ID, you cannot use it for another proof of ID evidence and vice versa.
For applicants who are non-UK nationals working over here on a Visa, you’ll need to provide that too.
As well as this, you will need to prove where you live. In order to show this, you may need to give ID and a utility bill/bank statement. Remember to put your current address on all of your accounts and memberships so they are up to date. By doing this, you are preventing any harm on your application as incorrect or previous addresses linked with your name can cause this.
This is an important document and can massively contribute to determining whether you will qualify for a mortgage or not. This is something you will need to provide and will need to be at least three months’ worth. From a lender’s point of view, they will be able to see your spending behaviour as well as what goes in and out of our account.
Some outgoings lenders do not favour are frequent gambling transactions as well as bad spending habits in general. Regularly being in your overdraft or direct debits have bounced consistently can also put lenders off.
For Anti-Money Laundering purposes, it is key that you are to provide evidence of where your deposit has come from. It would be wise to keep all your savings inside the one account and try not to move them around. This also applies to gifted deposits; leave the money inside of the gifter’s account instead of transferring it into your own.
Building up your savings over time in a savings account is something lenders like to see. You can have assistance with this through a Helpt to Buy and Lifetime ISA. If you are getting a Gifted Deposit in Birmingham, the person gifting you the deposit will have to prove where they have got the funds from too.
Proving your income is a significant part of the process. For applicants who are employed, they will need to provide the last three months’ payslips as well as their P60. Additional earnings like overtime, bonuses, commission and shift allowance are usually taken into consideration too. Applicants that are part time employees will normally need to provide additional evidence of their income. However, it does vary between lenders.
Any applicants looking to take out a Self Employed Mortgage Birmingham will have their income assessed in a slightly different way. They need to provide a minimum of 2/3 years’ accounts and earnings from the revenue. One of our expert Mortgage Advisors in Birmingham can help you with this.
When it comes to the mortgage journey, it can be common for people to encounter some issues that can stall them and getting Declined for a Mortgage in Birmingham. It can sometimes become a challenge to overcome these obstacles, especially if you are in a complicated situation.
Here at Birminghammoneyman, our team has come across a variety of mortgage hurdles, especially with First Time Buyer or Home Movers in Birmingham with complex cases. Through our 20 plus years of experience in the industry, we have encountered a lot of challenging situations and know the ways to deal with them.
On the rare occasion that we face a situation we haven’t seen before, our team will work hard in overcoming this towards mortgage success. If you are a First Time Buyer in Birmingham, you might have little to no knowledge about these hurdles which is where we can help!
With an endless list of hurdles that people have encountered before out there, below are just a few that are more common and are hurdles that many applicants face in the midst of the mortgage process.
If you do have children, it is uncommon for you to be turned down for this. On the other hand, it may put you at a slight disadvantage when it comes to your offer as it may be a little lower because you have children.
From a lenders point of view, they want to ensure that you can afford all your mortgage payments along with your current expenses. These costs outgoing do include childcare costs. Lenders have to factor these in as childcare can usually be hundreds of pounds each month. Childcare costs rarely do down, they mostly increase! Therefore, lenders would see this in the same as they would with a loan or hire purchase.
You might have no nursery fees to pay, however, you may find that you still get offered less than buyers with no children. One factor that is good to know if you have children is that some lenders may take into account child benefits if you are in receipt of tax credits.
In the unfortunate event that you and your partner decide to go your separate ways, it’s likely that you will encounter some financially related issues, especially if you have a joint mortgage.
If you are financially linked with someone else, it may be difficult for lenders to accept you. This is because lenders don’t want you to have different sets of mortgage payments to meet each month, it could be a lot to keep up with.
Our team find we get asked the same questions when people approach us for Specialist Mortgage Advice in Birmingham when they are in need of help with their mortgage.
These types of mortgage hurdles can get it pretty complex, very quickly. Generally, there is a solution to these situations, and our team may be able to help overcome them. Having an expert Mortgage Broker in Birmingham by your side, we aim to take a lot of stress away as possible through these difficult times.
Benefit income can have mixed views with lenders. Child tax credits, working tax credits and disability allowances could be factored in as income with certain lenders. Get in touch with our team if you are looking for more information about mortgage and benefit income. Our Mortgage Advisors in Birmingham will review your situation and find you a lender who will consider your benefit income to match you. We aim to get it right the first time!
In most cases, applicants go into a new job with a larger salary. With this extra income, many put this towards a new mortgage. You may automatically think that this would mean you are more likely to get a mortgage but, this isn’t always the case.
Normally, starting a new job will come with a probationary period. These are usually fine, however, there will be a bit of uncertainty there. Many lenders might only accept you as soon as you have job security. This all depends on the lender and mortgage costs.
In order to determine your work patterns, lenders will also look at your employment history. This will show them if you are dipping in and out of work or not. Having gaps in your employment can harm your application. Many lenders will work from a newly signed employment contract even in your first month.
Every single mortgage lender and mortgage broker legally has to evidence where the borrowers’ deposit funds for any purchase have come from. This is to combat money laundering and show that the applicant has raised funds legally. You might find your solicitor and the estate agent will ask for evidence of your deposit also.
Regardless of where your deposit is from if it is savings, premium bonds, the sale of another property, gifted from a family member or friend, from family overseas, or a personal loan, you are required to have a paper audit trail for the accumulation of funds.
Congratulations, you have just passed your exams and are now a newly qualified teacher. You have found your dream teaching position and are ready to get started in the classroom, but it means you’ll be looking to Move Home to Birmingham. From this, you are now beginning the exciting yet stressful process of finding a place to move to whilst beginning your new teaching role. The good news is that you are not the only person in this situation.
It can be difficult to find a lender who is looking to offer a mortgage to newly qualified teachers. This is because newly qualified teachers have no work history, or have been on temporary contracts. Don’t worry though, it is still possible to get a mortgage as a newly qualified teacher. You might find that various lenders may lend with some even offering reasonable deals to those working in the education section.
Below is a list of various types of mortgages that are available to NQTs:
When it comes to obtaining a mortgage as a NQT, here is a list that as a Mortgage Broker in Birmingham we feel you should considered:
Here at Birminghammoneyman, we have a team of Mortgage Advisors in Birmingham who have extensive knowledge about the lending criteria and they have many years under their belt helping many people with their mortgage situations.
If you are a newly qualified teacher that’s looking to begin their mortgage journey, get in touch with us. We will take some details from you and look at the options available as well as see if you are eligible for a mortgage.
Buying a property can be the most expensive commitment of your life, therefore, it’s important that you know exactly what you’re paying for. All of the different costs of buying a home in Birmingham can blend into one if you’re not careful, and you may be paying more for some parts of the process than you originally thought, which is why we’ve broken down those costs into an article.
If you are a First Time Buyer in Birmingham, and recently have had an offer accepted on a property but, is the house actually worth what you’ve said you’ll pay for it? In order to establish the true value of a property as well as the overall condition, a property survey will be carried out. This survey will highlight any issues with the property like major/minor damages.
Buying a property can be the most expensive commitment of your life, therefore, it’s important that you know exactly The Costs of Buying a Home in Birmingham. If you’re not careful, you may be paying more for some parts of the process than you originally thought.
The different types of property surveys include Mortgage Valuations, Homebuyer’s Report and Full Structural Survey. In some cases, a property survey can be carried out free of charge depending on the lender that you use.
The type of survey differentiates depending on the outcomes of the survey report. You might want one that is more in-depth, whereas others will only briefly speak about certain aspects. The survey will be more pricey depending on how in-depth the survey is. In the event that you find something on your survey about your property that you weren’t informed about, by law, you are allowed to approach the seller and work out an alternative price, if necessary.
The simplest type of survey is Mortgage Valuations. This is carried out to determine how much a property is actually worth. It’s helpful for the lender as they need to be sure that the property price matches how much you are set to borrow from them. For instance, if you put in an offer above the property’s actual value, it’s likely the seller will accept your offer, but your lender won’t. Unless you have the funds to make up the difference the lender will put out of the deal. This is called a down valuation.
The one drawback with this type of survey is that it will only point out obvious repairs and damages so will lack depth. On the other hand, it does highlight any clear structural defects that will require a further look at. If you are wanting a more in-depth property assessment, you will need to pay more to upgrade your survey. It may be more expensive but, it may benefit you in the long run.
This type of report focuses on safety. A Homebuyer’s Report answers the questions of whether the property is safe and if it’s suitable to live in. The surveyor will look at any mould problems, damp issues or something that does not pass the current building laws. A property expert will carry this out. It’s their job to examine the property thoroughly to make sure it’s safe to live in.
When it comes to making an offer on an older building, as a Mortgage Broker in Birmingham, we strongly advise you to take up a Full Structural Survey.
Because the whole property is surveyed, this is the most pricey of property surveys. A Full Structural Survey will also provide an in-depth insight into the property compared to the three main surveys. The survey will highlight what condition the property is in and what changes need to be made if the property purchase goes through. It can take as long as a full day to carry out a Full Structural Survey, however, this does depend on the size of the property.
If you have accepted an offer on a new build, the survey will work slightly differently. There is a type of survey especially for new builds called a Snagging Survey. It points out both minor and major issues, like a missing hinge on a door to cracks in the ceiling.
When the new has already been built and it’s ready for you to move into, it’s wise for you to get a snagging survey carried out on it before moving in. By doing this, you are giving yourself the option to negotiate to price if there are any issues with the property.
Feel free to contact our mortgage team if you are unsure about what property survey is the right one for you. Our experience has given us the opportunity to help many first time buyers and Home Mover in Birmingham get onto the property ladder, we’ll help you recommend and choose the right property survey for you!
If you are looking for a surveyor to carry out a Homebuyer report or building survey, you can obtain these services through the Royal Institution of Charted Surveyors.
Whether you are First Time Buyer in Birmingham beginning the mortgage journey or you have gone through this before and are looking to to move home, our fast and friendly service could help you. We’ll provide a tailored service that can help you Get Prepared for a Mortgage in Birmingham.
A long-term insurance policy that covers an individual who has a severe illness listed within a policy is known as critical illness cover or critical illness insurance.
When you take out the policy, you will need to mention any underlying medical conditions. This could mean some illnesses being excluded from the cover. If you don’t disclose any underlying medical conditions, this could make the policy void in the event of a claim.
The way this illness policy works is through a one-off payment that provides financial support to pay for your mortgage, medical care or make modifications to your home if needed.
In the circumstance, where you get one of the specific medical conditions or injuries stated within the policy, this is when Critical illness insurance will pay out.
Remember, that not all instances of a specific illness will be covered. Within the policy, it will mention what particular conditions are covered along with defining these in the policy documentation.
Through our experience, we sometimes find that a number of customers mix up critical illness cover with life insurance. Even though they are purchased together, they are entirely different in terms of what they cover.
A number of policies will also consider permanent disabilities that could result from injury or illness and other illnesses that aren’t listed above.
Some illnesses may not be listed in the policy such as more severe forms of cancer and conditions. It’s unlikely that you won’t be covered for health problems you were aware of prior to taking out the insurance. Furthermore, this type of insurance doesn’t payout if you pass away.
The policy details will disclose what’s covered and what isn’t, therefore, you need to be fully aware of these by looking through all documentation to make sure they protect your needs.
The benefit of many insurance products is that they provide you with peace of mind should something go wrong. The links below can provide you with more information on this:
All our new/existing customers are offered a free no-obligation protection review where our hardworking team can look at any existing policies you have in place as well as assess their suitability.
Affordability is key with any financial venture. This is why we provide a tailored service to get you in touch with an experienced Mortgage Advisor in Birmingham from our team who can search for the most suitable combination to your family’s priority and budget.