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This is how we do it!!!

Dear Customer

I’ve now concluded my research and, am in a position to recommend a suitable mortgage together with a protection recommendation for you to consider.

Requirements

Mortgage Repayment method - Capital repayment

Term 35 years

Short term stability from a 2 year Fixed Rate (so we can review in 2 years as on a 95% rate)

No Lender Fees

Mortgage Recommendation with Santander

Borrowing £185,000. Monthly Mortgage Payment is £912.54 Fixed at 4.82% for 2 years over the term of 35 years

Personal & Home Insurance Protection Recommendation 

  1. I recommend that you protect your mortgage debt against Death or Critical illness e.g. cancer, stroke, heart attach etc. I have researched a large panel of providers and Zurich are coming up with the cheapest most comprehensive quotationsThis will cover the mortgage loan amount and term with a Tax Free Lum Sum on Diagnosis of Death and Critical Illness. The premium is guaranteed for the term and will not increase. Zurich offers one of the most comprehensive critical illness plans with excellent service levels and claims records. Included are Total permanent disability and Waiver of Premium. This is a joint policy payable on first instance of an event occurring.

Sum assured £185,000. Decreasing Joint Policy. The monthly premium is £73.34.Term 35 years.

  1. I also recommend that you protect your income should you be unable to work due to illness or accident. This policy will pay the mortgage monthly payment and is to match the term of the mortgage. 

 Mr Level Term Income Protection Policy. Monthly Benefit £913 payable after 52 weeks of sickness. Monthly premium £8.63.

Miss – Level Term Income Protection Policy. Monthly Benefit £913 payable after 13 weeks of sickness. Monthly premium £8.58.

 Waiver of premium included. More information about your Waiver of Premium (Sickness) premium. This premium is guaranteed, which means it won't change during the term of the cover (other than for changes in line with changes to the total monthly premium you are protecting, or changes to the cover that you may choose). 

  1. I have also prepared a recommendation for insurance to cover your building and contents from LV. This will insure your building and contents. On both Building and Contents I have selected Standard Accidental Damage which offers comprehensive cover in fire theft flood and storm. If you wanted to upgraded to The extended AD option it would cover extras such as a workman damaging the property or for contents, breaking an ornament to spillages on carpets and costs extra.

This is an annual policy and can be paid monthly or as a one off annual payment and you renew it each year. Monthly premium is £17.75.

Total monthly payment for the full recommendation is £1,02.84 which equates to 26% of your overall net income of £3.894 and well below industry standard.

Please let me know if you’re happy to proceed or have any questions and I’ll send further information in order to apply.

Best wishes

Julie Welsh 

Border Mortgage and Insurance Services 

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