Bluebell Mortgages
  • First Time Buyer

    Bluebell Mortgages are expert mortgage brokers and have a detailed knowledge of mortgage lenders’ and first time buyer mortgages.

    Moving Home

    We can inform you of all the likely fees associated with a house move, identify your current position and calculate your likely required loan amount.

    Remortgaging

    If you already have a mortgage and your current deal is due to expire in the next 6 months, we can help find you the most effective deal for you.

    Buy To Let

    We have a vast experience of the Buy To Let market and are able to offer our clients detailed advice on the correct method of funding potential purchases.

    Shared Ownership

    An effective way for first time buyers to get on the property ladder, it can considerably reduce the amount needed for a deposit.

    Specialist Finance

    Bluebell Mortgages have specialist advisors who can assist you with your first or next commercial or self-build development.

    Older Borrower

    The days of retiring at 65 are disappearing fast, people are living longer and borrowers are getting older.

    Insurance

    This can range from Life Assurance to protect your mortgage or family, Critical Illness cover, Income Protection and General Insurance.

  • FAQ's

    We’ve collated our most frequently asked questions below, but if there’s a question on your mind that we haven’t covered, please get in touch.

    Success Stories

    We’re passionate about helping people get to where they want to be on the property ladder. Our customers share their stories of how we helped them.

    Knowledge Base

    Here we can share with you our many years of industry experience & knowledge so that you can feel confident and prepared for your mortgage journey.

    News

    We regularly post about all things in the Mortgage world and other industry information. We also post about what's going on at Bluebell Mortgages.

Bluebell Blog & News

Three things you can do to help to protect everything that matters

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Could your family pay the mortgage should the worst happen or if you are sick and unable to work?

Lenders will try and help you if making payments becomes difficult or impossible, but in the longer term in most cases, they will move to repossess your home.

  1. Take out Life Insurance

You’re not legally obliged to have life insurance for a mortgage, but some lenders may consider it as a precondition for letting you borrow money to buy a home.

The amount of life cover you need will depend on the size of your mortgage and the type of mortgage you have. Having life insurance in place can help minimise the financial impact that your death can have on your family and offer peace of mind to those you care about the most.

Naturally, all of us want to see our loved ones looked after once we are gone and many of us put insurance in place that gives them a strong financial future to continue doing the things that have created a strong family.

Most life insurance policies pay out a cash lump sum to your loved ones if you should die during the time that the policy is in force.

The range of Insurers who provide this cover is also very broad, with many detailed choices to be made on what is covered, how long you would like the policy to last, through to details such as who should be included on the insurance and how often you want to pay the premium. Today’s policies also bring with them a range of value-added services which means you don’t have to die to take advantage of the cover you put in place, and some even pay out early if you are diagnosed with a short time to live, making the final months of your life more bearable.

We can talk you through the range of options available and make recommendations as to which kind of policy may be most appropriate for your individual circumstances.

  1. Take out Critical Illness Cover

Life insurance covers the worst case scenario, but it’s also important to consider how you might pay your mortgage if you couldn’t work because of illness. Critical illness cover insurance is designed to protect you and your loved ones from the financial impact of you being diagnosed with and suffering for a period of time from a specified critical illness.

To help mitigate the financial risk, provide breathing space to get better and potentially life saving money for treatments not available on the NHS, critical illness insurance works by paying out a cash sum if you are diagnosed with or undergo a medical procedure for one of a number of predefined ABI conditions such as cancer, stroke or a heart attack added to other less common conditions that might affect you at any time. This money could then be used to help with childcare costs, household bills or maintaining a standard of living if you’re forced to take time off work to recover from the illness.

  1. Take out Income Protection

Income protection insurance pays you a regular income if you can’t work because of sickness, injury or disability and continues until you return to paid work or you retire. Income protection insurance is also known as permanent health insurance.

The amount of income you are allowed to claim will not replace the exact amount of money you were earning before you had to stop work. You can expect to receive about a half to two-thirds of your earnings before tax from your normal job. This is because some money will be taken off for the state benefits you can claim, and also the income you get from the policy is tax free.

You can’t claim income protection payments straightaway if you fall ill or become disabled. You usually have to wait a minimum of four weeks but payments can start up to two years after you stop work. This is because you may not need the money straightaway as you may get sick pay from your employer or you may be able to claim statutory sick pay for up to 28 weeks after you stop work.

We are here to help

When things do go wrong, insurance can go a long way to providing the financial support and emotional wellbeing to you or your family at the times when it is needed most.

If you have any questions about protecting your family and your biggest asset or just want to understand about the risks you face, book an appointment to talk with us today.

Sources

1 – Legal & General (2022) Do I need life insurance?. Available at: https://www.legalandgeneral.com/insurance/life-insurance/guides/do-i-need-life-insurance/ (Accessed 24th May 2022)

2 – Legal & General (2022) What is Critical Illness Cover?. Available at: https://www.legalandgeneral.com/insurance/life-insurance/critical-illness-cover/ (Accessed 24th May 2022)

3 – Legal & General (2022) Income Protection Insurance. Available at: https://www.legalandgeneral.com/insurance/income-protection-insurance/ (Accessed 24th May 2022)

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How can we help?  Call us on 01473 213312