Mortgage Insurance Products

You need to be certain that you will have enough money to make your repayments if you lose your job or suffer an accident or sickness. You also need to protect your home in the event of damage to the property, through flooding, fire or theft, etc…. Our advisors at Oak Loans & Mortgages will establish your demands and needs and recommend the most suitable policy for you from the one provider, Payment Shield , we use. This is a completely free service with no obligation!

Accident Sickness Unemployment Cover

We can arrange Mortgage Payment Protection Insurance which can help to protect your mortgage payments for up to 24 months if you cannot work due to unemployment, sickness or suffer a disability. You can also cover the cost of any life or buildings and contents insurance linked to your home.

Subject to the suitable policy our Mortgage Payment Protection Insurance provides:

• Unemployment & Disability cover for both employed and self-employed applicants. (Unemployment only or Disability only cover is also available at a reduced cost)
• Choice of single or joint cover if two people want to be covered for part of the benefit
• First 6 months cover free from the policy start date, on a new mortgage or re-mortgages
• First 3 months cover free from the policy start date, if you are taking out the policy to protect an existing mortgage
• The choice of the amount of monthly cover you need to protect your mortgage payment and related insurance premiums
• Cover the cost of any life or buildings and contents insurance linked to your home by taking out 25% additional benefit.

Buildings and Contents Cover

Buildings & Contents insurance provides you with peace of mind by protecting both the structure of your home and the contents located within it. Here at Loans & Mortgages are that we can provide a choice of; Buildings only cover, Contents only cover or Buildings & contents combined cover through our 4 star Defaqto rating insurance provider, Payment Shield.

Subject to the suitable policy our Buildings & Contents insurance provides:

• Straightforward policy limits: Buildings insured up to £300,000 as standard (additional cover up to £500,000 available if required). Contents insured up to £40,000 as standard (additional cover up to £60,000 available if required)
• First 3 months of your policy FREE but 100% covered
• 15% Introductory no claims for first time buyers
• Up to 5 years no claims discount
• Personal Possession cover
• Home Emergency and Legal Expenses cover
• Personal liability cover of up to £2 million

Subject to policy provided (and sum insured limits) your building and/or contents are covered if damaged by:

• Fire, smoke, explosion, lightning or earthquake
• Riots, civil commotion, labour and political disturbances or strikes
• Malicious damage or vandalism
• Storm or flood
• Impact or collision
• Subsidence or heave
• Escape of water or oil
• Theft or attempted theft