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Mortgage protection

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Safeguard Your Home — Whatever the Future Holds

For most people, their mortgage is the largest financial commitment they’ll ever make. That’s why it’s essential to ensure that, if the unexpected happens, your home — and your family’s security — is protected.

Mortgage Protection Insurance is a type of life cover specifically designed to pay off your mortgage if you were to pass away during the term of the loan. At Park Hill Financial, we help homeowners set up tailored protection that offers financial peace of mind and protects what matters most.

What Is Mortgage Protection?

Mortgage Protection is a life insurance policy that pays out a tax-free lump sum if the policyholder dies while the policy is in force. The payout is intended to cover the outstanding balance of your mortgage, so your loved ones can remain in the home without the financial burden of monthly repayments.

This type of cover is typically set up as Decreasing Term Assurance, meaning the amount of cover reduces over time in line with your mortgage balance — making it more cost-effective than a level term policy.

Why It’s Important

  • Ensures your family can stay in the home, even if you're no longer there
  • Clears the mortgage debt, preventing financial hardship for survivors
  • Lower premiums due to the decreasing benefit over time
  • Required by many lenders as a condition of mortgage approval
  • Can be combined with critical illness cover for broader protection

Whether you have a repayment mortgage, a buy-to-let, or a joint mortgage, we’ll help you find the right policy and structure it appropriately.

Level Term vs Decreasing Term — What’s the Difference?

Decreasing Term Assurance

The cover amount reduces in line with your mortgage. Ideal for repayment mortgages and offers lower monthly premiums.

Level Term Assurance
The cover amount stays the same throughout the policy term. Suitable for interest-only mortgages or when you want a fixed benefit.

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Why Choose Park Hill Financial?

As experienced and fully independent brokers, we:

  • Search the market for the best-value policies
  • Tailor advice to your mortgage and family situation
  • Help you combine cover with critical illness if needed
  • Provide ongoing policy reviews and renewal support
  • Ensure all terms are explained clearly, with no jargon

We’re here to make the process simple, transparent, and focused on what’s right for you.

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