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Insurance  
   

AGA Mortgages are able to offer a number of insurance products to protect you, your family and your home. We can provide you with advice and guidance on how to best protect yourself.
What type of policy and the value depends on your circumstances.
Please contact us with any questions you may have.

 
 
WHAT TYPES OF POLICIES ARE AVAILABLE?  
The most common types of policy are:
·

Life Assurance - is an insurance policy which pays out a lump sum should you die prematurely. This can then be used by your partner to pay off the mortgage.

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 Level Term - This is a policy which pays out a fixed amount of money in the event of your death. The term is usually set to match the term of your mortgage.
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 Decreasing Term - This is a policy which reduces in value in line with your mortgage.
· Critical Illness - This type of policy pays out a lump sum if you were to be diagnosed with a critical illness.
· Income Protection - This type of policy pays a monthly amount should you be unable to work, for instance, have an accident or become ill.
· Mortgage Payment Protection (MPPI) - This type of policy pays out a monthly amount for typically a 12 month period if, for instance, you have an accident, become ill, become unemployed or are made redundant.
· Buildings & Contents - Buildings insurance is a pre-requisite to getting a mortgage. It is advisable to also have your contents insured in the event of any damage. By taking out a Buildings & Contents insurance policy you are protecting yourself should anything happen, for instance, fire, flooding, etc.
 
WHY DO I NEED INSURANCE?  

If you have a partner, spouse or children and have a mortgage it is highly recommended that you take some kind of protection should anything happen to you. For instance, should you die prematurely; your partner or family would be left to pay the mortgage and bills.

Even if you are single with no dependants it is advisable to take out some kind of protection as should you not be able to work for any reason, who would pay your mortgage and bills?

Questions you should ask yourself:
·
 If you or your partner were to die prematurely, how would the mortgage and bills get paid?
· If you or your partner were to become ill, disabled or unemployed and couldn’t work how would you pay the mortgage and bills?
· How would you provide for your family should you be unable to work?
 
For further information and advice on insurance please do not hesitate to contact us.
 
 
 
 

The overall cost for comparison is 8.7% APR. Please note that Buy to Let, Commercial, Bridging Finance and Secured Loans are not regulated by the FSA. On overseas mortgages, changes in the exchange rate may increase the sterling equivalent of your debt. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a £250 fee charged for mortgage advice although in many circumstances this will be waived. Being independent we also have a fee only option whereby we charge a 1% broker fee on the amount borrowed and any commission derived from the lender is rebated back to you. AGA Mortgages is a trading name of Alexander Groom Associates.
Alexander Groom Associates is an appointed representative of Mortgage Intelligence which is authorised and regulated by the Financial Services Authority (FSA registration number 305330). Registered Office: Roddis House, 12 Old Christchurch Road, Bournemouth, Dorset, BH1 1LG. 
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