Helpful Mortgage Protection Information

The government of the United Kingdom has further refined details of its plan to enact legislation that allows mortgage holders to defer a portion of their mortgage payments, should the main household earner become unemployed. What few people realize however is that only a very small percentage of home owners could qualify for this benefit. Rather than wait for and opt for relief from government, it is recommended that anyone facing a tenuous employment situation purchase mortgage protection cover. Not to be confused with life insurance that pays off a mortgage in the event of death, mortgage protection cover is a simple policy that will pay your mortgage for you for a period of twelve months, should you become unemployed. Often, large mortgage companies, such as Abbey mortgages will allow homeowners to include the cost of mortgage protection cover as part of their monthly mortgage payment. There is no special equity position requires, as even those with 100% mortgages are eligible for mortgage protection cover. For complete information on mortgage protection cover and much more helpful mortgage information, visit creditchoices.co.uk the United Kingdom's leading online personal finance resource.