A remortgage isn't just an opportunity to review your mortgage, it's also the ideal time to review the protection that helps safeguard your home, your income and your family's financial future. In this chapter, we'll explain why protection matters and why a quick review could give you valuable peace of mind.
By the end of this chapter you’ll understand:
✓ Why a remortgage is the ideal time to review your protection
✓ The different types of personal protection available
✓ How your protection needs may have changed since your last mortgage
✓ Why reviewing existing policies can be just as important as arranging new ones
✓ How NHMB can help you protect what matters most
Estimated Reading Time: 7 minutes
When people think about remortgaging, they naturally focus on finding the right interest rate or reducing their monthly payments. However, your mortgage is only one part of protecting your financial future.
Life can change significantly between mortgage deals. Perhaps you’ve:
As your life changes, your protection should change too. The cover that was right for you five years ago may no longer provide the level of protection you or your family need today.
A remortgage gives you the perfect opportunity to review everything together, ensuring both your mortgage and your protection continue to meet your needs.
Everyone’s circumstances are different, which is why there isn’t a one-size-fits-all solution. During your protection review, we’ll explain your options in plain English and help you decide what is right for you.
Some of the most common types of protection include:
Life Insurance
Designed to provide a lump sum if you pass away during the policy term, helping your loved ones pay off the mortgage or maintain financial stability.
Critical Illness Cover
Provides a lump sum if you’re diagnosed with one of the serious illnesses covered by your policy, helping you focus on recovery without the added financial pressure.
Income Protection
If illness or injury prevents you from working, Income Protection can provide a regular monthly income to help cover essential household expenses, including your mortgage.
We’ll also review any existing policies you already have to make sure they still provide the right level of cover and continue to offer good value. Our aim isn’t to replace policies unnecessarily, it’s to ensure your protection still matches your circumstances.
Protecting your home means protecting your ability to keep it.
Many homeowners spend weeks comparing mortgage rates but never review the protection that could help them keep their home if life takes an unexpected turn.
A protection review isn’t about assuming the worst, it’s about making sure you have the right plans in place should the unexpected happen.
Assuming your existing protection is still suitable.
Many homeowners arranged their protection when they first bought their home and haven’t looked at it since.
A regular review helps ensure your protection continues to reflect your current circumstances.
✓ A remortgage is the ideal opportunity to review your protection.
✓ Your protection should evolve as your life changes.
✓ Life Insurance, Critical Illness Cover and Income Protection all provide different types of financial security.
✓ Reviewing your existing policies can be just as important as arranging new ones.
✓ A free protection review helps ensure your cover still meets your needs.
Next Chapter →
Planning for the Future
In the next chapter, we’ll explore how regular mortgage reviews and long-term planning can help you achieve your future financial goals.
