Mortgage and Life Protection Insurance
Mortgage & Life Protection Insurance

Mortgage & Life Protection Insurance

Mortgage & Life Protection insurance is a life insurance policy designed to pay off your mortgage if you die during the term. It runs for the same length of time as your mortgage. So, if you take out a mortgage over 20 years, your mortgage protection insurance must also be in place for 20 years.  If you have a mortgage on your property then the bank will require you to affect mortgage protection insurance.

Personal Term Protection Cover

Term Life Insurance is life insurance that covers you for a specified and agreed length of time. In the event of death during this time, a cash lump sum will be paid out.  This is a low cost way of ensuring your family is financially protected in the event of your premature death.  There are additional benefits that can be added to the cover for additional charge to enhance it such as dual life, convertible term, indexation, waiver of premium.

We can offer you:

  • Up to 15% discount on premiums for the full term of the plan
  • Price match to the lowest premium on the market
  • Instant Quotation
  • Access to Online Application
  • Online underwriting
  • Receive the original policy document by email
  • Access to all insurance companies and product choices

Examples:

Mortgage Protection

Joint Life
€200,000 Sum Assured
20 year term
€11.46 per month

Personal Term Protection

Dual Life
€200,000 Sum Assured
20 years
€18.63 per month

This type of insurance does not cover your repayments if you cannot work due to redundancy, sickness or disability. For this type of cover, you will need to consider other types of insurance such as income protection, serious illness or payment protection.

How the Mortgage Process works:

The mortgage process involves quiet a lot of documentation and we have set out below the different stages involved from arranging mortgage approval to closing your mortgage.

Stage 1
Stage 2
Stage 3
Stage 4
Stage 5
Stage 6

Make an Appointment

It is important to sit down or discuss with one of our Advisors your requirements.  They will need you to provide or confirm a number of details in order for them to assess your case accurately. Once the Advisor has checked that you meet the criteria the next stage is t submit an application for approval to the chosen bank.

Application Submitted to Lender

In order to submit an application to the lender, you must meet their documentation requirements and in this regard we have provided a checklist of the required documentation along with the necessary application forms, declaration etc.  The Advisor will then review all documentation, put together a lending report and submit your case for approval to the lender.

Approval in Principle

Once the lender has underwritten your application and they are satisfied it meets with their criteria they will issue Approval in Principle, which will include conditions of approval.  This will then allow you to secure your property, once the property is secured we will then have to arrange a valuation to be done on the property and sent to the lender.  Once all Approval in Principle conditions are meet the bank will then move your application to the next stage which is Loan Offer.

Loan Offer

The bank will issue the loan offer along with a legal pack to your solicitor, you must contact your solicitor to arrange time to meet to sign contracts and other legal documentation.

Arrange Insurance

The next stage of the mortgage process is to arrange mortgage protection and home insurance. At this stage we will contact you to arrange quotations.

Mortgage Closing

The final part of the mortgage process is to ensure that all conditions set by the bank have been met. Your solicitor will have returned the documentations to the lender for final sign-off. Once the lender is satisfied that all conditions of approval have been met by you, they will release the cheque to your solicitor to complete the buying process for your new home.

Peace of mind is a call away

With our trusted friendly staff, easy paperwork, and a quick response for your Mortgage & Life Protection Insurance option in all 26 counties of Ireland; we will guarantee that you will be walking away with a smile on your face after dealing with us.

or call us on +353 1 627 9495

Our walk in office provides access to qualified mortgage brokers covering mortgages in all 26 counties of Ireland.

Get Moving with Ireland Mortgages

We will endeavour to secure the best mortgage deal for you