The BAPB
was set up to offer much better rates to clients for their mortgage payment
protection insurance. Currently less than a quarter of current UK home owners
have taken out any type of mortgage protection.
State help for mortage
help has been significantly reduced in the past few years for anybody made
redundant or off sick. If you took out your mortgage out after 2nd October 1995
and you loose your job or are claiming sickness or disability benefit you will
receive nothing for the first nine months towards your
repayment. If your mortgage started before then you will receive mortgage
payment contributions of half your interest payments after eight
weeks for the next four months, after that you will receive full
interest contributions but only on mortgages below £100,000
provided the borrower qualifies for income
support.
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