Mortgage Payment Protection

What is it?

A Mortgage Payment Protection plan is designed to ensure that you are able to continue to make your mortgage (and other related expenditure) payments in the event of accident, sickness or unemployment. It is often referred to as Accident, Sickness and Unemployment cover or ASU. These plans usually pay benefits for up to two years however, if you are seeking a plan that pays for a longer period, then Income Protection Insurance is generally more suitable.

It’s worth noting that there is currently no legal requirement to have such cover and potential mis-selling of these products has generated much interest from the media and the industry regulator in recent years. However, this doesn’t mean that they are not right for some people and can provide valuable protection in the right circumstances.

Who is it for?

This type of plan is designed for those who are worried about being able to continue their mortgage payments in the event of losing income due to accident, sickness or unemployment.

It is extremely important that you take independent financial advice before taking out this type of plan as they are not always the best nor cheapest option.

Accident, Sickness & Unemployment insurance typically costs £4.10 a month for every £100 of monthly benefit. This is based on a 39-year-old customer choosing £1,000 of accident, sickness and unemployment monthly benefit with claims paid after a 30-day deferred period. The cost of this insurance depends on a number of factors, such as your age, where you live and your occupation. As a result, the cost you will pay is based on your own circumstances. There are other providers of Short-term Income Protection and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk


As with all insurances, conditions and exclusions will apply.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Quartz Financial Services Ltd is an appointed representative of New Leaf Distribution Ltd which is authorised and regulated by the Financial Conduct Authority Number 460421.

Registered Office 1st Floor Princess Caroline House, 1 High Street, Southend on Sea, Essex, SS1 1JE.

A typical fee for arranging your mortgage is £595, however, a fee of up to 1% of the mortgage amount may be charged.

Quartz Financial Services Limited, registered in England & Wales No. 09497195. Registered Office: The Base Dartford Business Park, Victoria Road, Dartford, Kent DA1 5FS. Telephone 01474 887948.  Financial Conduct Authority Number 591061.

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