Since 1995, the Government has stated that new mortgage borrowers will not be entitled to state help in the event of unemployment during the first 9 months of redundancy. Even then benefits are means tested. It is therefore quite important to know what you can and should do if you find yourself out of work.
Without question, the best option would be to insure yourself against such an event. We can discuss the different options with you regarding unemployment cover and arrange a policy to protect you in these circumstances. Call us today on 0118 9796687.
However, in the event of being made unemployed and NOT having protection you should take the following steps:
Immediately advise the lender of your situation. You are far more likely to get a sympathetic response if you provide advance warning BEFORE going into arrears.
“Paul assisted us with sorting out our mortgage when buying our current house and also arranging life & other insurance. He was dedicated in following our applications through to a successful end result in both cases.
- Geraldene Dobson - Owner, Hemisphere Accounting Ltd -