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When you’re applying for a mortgage, thinking about what might happen to your income if your health suddenly changed probably isn’t top of your list.
But it’s worth considering how you’d manage if a serious illness stopped you from working or keeping up with your repayments. That’s where critical illness cover in Sheffield comes in.
This type of protection offers financial support during some of life’s toughest moments. Whether you’re buying your first home, moving, or remortgaging, this cover can offer peace of mind when you need it most.
Critical illness insurance pays out a lump sum if a doctor diagnoses you with a serious condition listed in your policy. Many providers include illnesses like heart attacks, cancer, strokes and similar long-term conditions.
You can use the money to help pay off your mortgage, cover everyday costs or make changes to your home if your illness affects your mobility. Unlike income protection, which provides a monthly payment, this cover gives you a one-off payout that you can use however you need.
As a mortgage broker in Sheffield, we often talk to customers about building this into their protection plan. It can help if you don’t have much in savings or if your income plays a major role in keeping your household running.
Life often catches us off guard. While no one likes to think about serious illness, it’s something that affects many families. The NHS takes care of treatment, but time off work, transport to appointments or extra help around the house can stretch your budget.
That’s where critical illness cover in Sheffield comes in. It gives you the option to ease financial pressure and focus on recovery instead of worrying about bills.
Many of our customers are surprised by how flexible this type of cover can be. It doesn’t just protect your mortgage, it supports your day-to-day life while you get back on your feet.
Each provider includes different conditions, but most offer protection for major illnesses like heart attacks, strokes, cancer and multiple sclerosis. Some policies also cover earlier-stage conditions, depending on the provider.
We’ll help you look through the fine print. Our mortgage advisors in Sheffield explain the details in plain terms so you know exactly what your cover includes.
This question comes up quite often. Life insurance in Sheffield offers a payout if you pass away during your policy term. Critical illness cover, on the other hand, gives you financial help if you’re diagnosed with a serious illness and continue living.
The two work well together. Many homeowners choose both, so they’re protected whether they pass away or experience a major health setback that impacts their income.
For prospective first time buyers in Sheffield, as well as home movers in Sheffield, credit scoring often appears as an unfair way for mortgage lenders to evaluate their applications. Conversely, from the perspective of these lenders, credit scoring is perceived as a cost-effective and consistent to minimise their risk.
If you’re feeling apprehensive about the credit scoring system when applying for a mortgage, there’s no need to worry. The good news is that a multitude of mortgage lenders out there, each with their own unique scoring systems and criteria.
To alleviate your concerns and improve your chances of accepted, it’s a smart move to obtain a copy of your credit report when applying for a mortgage.
By providing your mortgage advisor in Sheffield with an up-to-date credit report right from the start, you offer them a clearer insight into your financial standing, thereby increasing the likelihood of a successful application.
Keep in mind that having this credit report in hand will also enable your mortgage advisor in Sheffield to identify any potential issues or areas that could benefit from improvement, allowing you to address them before applying for the mortgage.
This proactive approach not only bolsters your chances of approval but also grants you with more confidence and peace of mind throughout the entire mortgage process.
Always remember, each mortgage lender has its own set of criteria, so don’t feel disheartened if one lender turns down your application. Your mortgage advisor in Sheffield will work with you to find the best fit among the various options available in the market.
When it comes to checking your credit report for mortgage purposes, you’ll find various credit reference agencies, including well-known names like Experian and Equifax. Our top recommendation is to go with CheckMyFile, as it provides a comprehensive overview based on information from multiple credit agencies.
The good news is that CheckMyFile offers a 30-day free trial, giving you ample time to review your credit report without incurring any costs during this period. The best part? You have the flexibility to cancel the trial whenever you like, if you so choose.
This approach allows you to make well-informed decisions regarding your creditworthiness, ensuring that your mortgage application rests on a solid foundation.
By using the link below, you’ll enjoy the added benefit of receiving a free, instant PDF download of your credit report. Take advantage of this opportunity to pave the way towards a successful mortgage journey!
Try it FREE for 30 days, then £14.99 a month – cancel online anytime.
Improving your credit score is a cricial step when applying for a mortgage, and there are several steps you can take to boost your creditworthiness. First and foremost, be cautious when using price comparison websites, as they may trigger credit searches that could have a negative impact on your score.
To avoid any potential red flags for mortgage lenders, it’s best to refrain from applying for other types of credit in the immediate future.
One effective method to positively impact your credit score is by registering on the electoral roll. Ensuring that your name and address are accurate and up-to-date can have a positive impact on your score. Address errors can inadvertently give the impression of multiple residencies, potentially affecting your creditworthiness.
Moreover, handling your credit card usage wisely can significantly impact your credit score. Maxing out your credit card every month may lead to a reduction in your score, so it’s advisable to use it responsibly and pay the balance in full each month.
Though closing unused store or credit card accounts might cause a short-term dip in your score, it can be beneficial in the long run and reduce your vulnerability to fraud.
Furthermore, financial ties to family members, friends, or ex-partners can affect your credit score, especially if their credit history is poor. If you no longer have active financial connections with these individuals, you can request that credit reference agencies remove these links.
When seeking mortgage advice in Sheffield, providing our trusted and experienced mortgage advisors with comprehensive information about your finances will enable them to offer the best possible guidance and support throughout the mortgage application process.
With their expertise and your improved credit score, you’ll be well-positioned to secure the ideal mortgage that suits your needs and financial situation. It’s a step towards achieving your homeownership goals with confidence!
Home Movers and First Time Buyers in Sheffield use a Mortgage Broker in Sheffield to help the process of purchasing a home go as smoothly as possible. Buying a home can be a very stressful experience, and our customers like to know they have got someone reliable on their side on hand to answer all their questions and queries.
Your Dedicated Mortgage Advisor in Sheffield will ensure you obtain the most suited mortgage to match your circumstances. We will recommend the most suitable mortgage for you and package your application to the Lender in such a way to give it the best chance of success. The same rules apply when you come to Remortgage too, we like to know our customers are on the most affordable deal for the entire term of the mortgage.
We think talking to a Mortgage Advisor in Sheffield early on in the process is a good idea. We can help you work out what you can afford to pay and also how much the different Lenders will let you borrow. You would be surprised by the vast differences between Mortgage Lenders when it comes to the maximum mortgage available. Knowing what you can afford well in advance of making an application helps you avoid disappointment.
Communication also plays a large part. We like to keep our customers informed about their application’s progress by email, so you know things are moving forward. It’s good to know that we are also at the end of the phone when you need us.
Mortgage Brokers work for the customer, not the Lender. This is important to note because we are in your corner sometimes having to argue the strengths of an application to ensure it goes through. We know our customer’s financial situation inside out, and by requesting and checking your proof of income and bank statements well in advance of a Lender seeing them, we look to avoid any potential hurdles before we hit them carefully.
If you need help you choose the right type of survey for your transaction and instruct a Solicitor on your behalf to carry out the legal aspects of your transaction. We are experts in completing application forms on behalf of our clients to ensure accuracy and give your application the best chance of completion.
Finally, a great Mortgage Advisor in Sheffield will love to build up an ongoing relationship with a client. It can often start with an affordability assessment and Agreement in Principle before even finding a house. Even after the purchase is complete, we keep regular contact via email and re-engage by phone running up to the initial mortgage product coming to its end. We then compare the market on your behalf once again to obtain the best remortgage deal available.
When you take out a mortgage, you’re making a long-term financial commitment. Naturally, you’ll want to feel confident that you can keep up with your repayments, no matter what life throws your way. That’s where mortgage protection insurance in Sheffield can make a real difference.
It’s all about giving you peace of mind, knowing there’s something in place if your income suddenly changes because of illness, injury, or worse.
As a mortgage broker in Sheffield, we often speak to customers who hadn’t considered how they’d manage their mortgage if their circumstances changed.
While it’s not always a requirement from your lender, having some protection in place could make a big difference to you and your family in the long run.
Mortgage protection insurance isn’t just one single type of policy. It’s a broad term that covers different forms of insurance that are all designed to support you if something happens that affects your ability to pay your mortgage.
These policies work in different ways, depending on the type of cover you choose. Some pay out a lump sum, others offer a regular income. The key thing they all have in common is that they’re there to help keep a roof over your head when the unexpected happens.
This is one of the most common questions we get from home buyers. The short answer is: it depends on your situation. If you’ve got dependants or a partner who relies on your income, or you know you’d struggle to pay the mortgage without your current salary, it might be something worth looking into.
It’s also worth thinking about how much support you’d get from work or the government if your income stopped. In many cases, people overestimate how long they’d be able to manage without extra help. Taking out mortgage protection can provide that extra layer of financial safety if things don’t go to plan.
There isn’t a one-size-fits-all policy when it comes to mortgage protection. Instead, there are a few key types of cover that can support you in different ways, depending on your circumstances.
As a mortgage broker in Sheffield, we regularly help customers work through these options to find what’s right for them.
Life insurance Sheffield is one of the most common types of mortgage protection. If you pass away during the policy term, the insurance pays out a lump sum that can be used to pay off your mortgage, giving your family one less thing to worry about during a difficult time.
We often find that customers already have some cover through their employer, but it might not be enough to fully cover the mortgage. That’s something we can help review and, if needed, suggest a more tailored plan to suit your situation.
This type of insurance provides a lump sum if you’re diagnosed with a serious illness included in your policy. Common examples include cancer, strokes, and heart attacks. Critical illness cover in Sheffield gives you the breathing space to focus on your recovery without the added pressure of monthly mortgage payments.
It works best when paired with life insurance, offering a more rounded safety net in case you’re unable to work or need to make big lifestyle changes while recovering.
Income protection Sheffield is designed to step in when you’re off work due to illness or injury, even if the condition isn’t considered critical. It offers a regular monthly income to help you keep up with bills, mortgage repayments and other everyday expenses.
This type of cover is especially useful if you’re self-employed or don’t get much support from your employer in terms of sick pay. Rather than worrying about how you’ll cope, you’ll have the reassurance of knowing that there’s help with covering the essentials.
Family income benefit is an option that offers ongoing monthly payments rather than a single payout. If you pass away during the policy term, your family receives a regular income to help cover everyday living costs, such as groceries, school uniforms or transport.
It’s a popular choice for families with younger children, as it provides consistency and structure at a time when things feel anything but stable.
Sorting out the right insurance can feel like a lot to take in, especially when you’re already dealing with the mortgage side of things. That’s where we come in. As a mortgage broker in Sheffield, we’re here to help with more than just the mortgage itself.
We also make sure you have the right cover in place to protect your home and your finances if things take an unexpected turn.
We break everything down so it’s easy to understand. Whether you’re exploring life insurance, income protection or critical illness cover, we’ll talk you through what each option means and how it could support you in real life.
No technical jargon, no pushy sales pitch, just clear information that helps you choose what’s right for you and your family.
We work with a wide range of providers, which gives us the flexibility to find cover that fits both your needs and your budget.
From young families wanting to protect their income to customers reviewing their insurance during a remortgage, we’ve helped people across Sheffield and surrounding areas put the right protection in place.
For us, it’s not just about ticking a box. It’s about giving you peace of mind that your home and your loved ones would be financially secure if something unexpected happens.
Our mortgage advisors in Sheffield will take the time to understand what matters to you and help you find cover that works with your lifestyle.
Life insurance is designed to pay out, usually in a lump sum, in the event of death. With regard to your mortgage, the sum assured should be enough to pay off your outstanding balance.
Here is some information about the most popular types:
The whole of life insurance does not have an end date. For one thing, providing premiums is being met the policy will payout. Generally speaking, this type of insurance is used for family protection and also as part of inheritance tax planning.
Term assurance is the most popular type of family insurance used to cover a mortgage.
For instance, our Mortgage Advisors in Sheffield will recommend the sum assured and term of the policy. Usually to run in line with your new mortgage. Providing that all premiums are maintained. The sum assured will be paid out if you were to die during the term.
There are various types of Term Assurance available, such as decreasing and increasing cover. As part of our personal protection review, the most suitable policy for your needs will be recommended.
This is another version of Term Assurance. Where instead of the sum assured is paid as a lump sum on death. It’s paid as an agreed monthly payment. In this case, it’s very good for families looking to insure an income.
A good advisor will usually recommend a mixture of insurance types tailor-made to match your personal and family requirements.
If you are part of a couple. You could consider taking out a single life policy that will payout in the event of one of you dying.
This can be cheaper than paying the premiums on two separate policies. However bear in mind that joint policies only payout on the first death, after that the cover ends.
If you had two separate policies. The second policy would remain in force even after a claim had been made on the first.
Many companies offer their employees family a lump sum payment. If the staff member dies while they are employed by the firm.
Although this doesn’t mean the death has to be at the workplace. Or in any way related to the job done. This cover will most likely end as soon as you leave the company.
Furthermore, it’s very important to us. That all of our customers are given an equal opportunity to take insurance our through ourselves. We wouldn’t be doing our job right if we didn’t mention it!
We offer all of our customers a free, no-obligation protection review. Where we’ll have a look at any existing policies you have in place and assess their suitability. We’ll then recommend which products, including critical illness and income protection that meet your needs. If required, we’ll then tailor the plan to match your available monthly budget.
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Sheffieldmoneyman.com & Sheffieldmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© Sheffieldmoneyman 2025.
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Sheffieldmoneyman.com & Sheffieldmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© Sheffieldmoneyman 2025.
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