Finding yourself out of work unexpectedly through illness or from an accident can be a stressful and daunting prospect for many of us – and whilst initial feelings may be of panic and worst-case scenario thoughts such as ‘how will I pay my mortgage?’ or ‘I’m going to lose my home’ – ‘it is important to keep calm and level-headed; most crucially, take immediate action to get the help you require.
What help is available if I suddenly can’t work due to illness or an accident?
The first thing you may want to do, is to see what help is available to you. Double check with your employer on any allowances you may be entitled to – you might be able to claim Statutory Sick Pay (SSP).
Further to this, various support may be available in terms of benefits and entitlements – often having one benefit up and running, will qualify you to further financial help.
Review and cancel all non-essential agreements to minimise the impact of your future monthly outgoings.
Subscription services such as the gym or entertainment packages are small luxuries that all add up! Cancelling these can save you money whilst you’re not earning – and the extra money can help with paying critical bills such as your mortgage.
Contact your mortgage lender early on.
Most mortgage lenders will be understanding of your situation and may be able to offer various solutions such as a repayment holiday to help in the short-term – so do reach out to them as soon as possible to see what help is available.
Of course, the best protection for yourself, your income and your mortgage from an unexpected loss in finances, is to prevent it.
Our Advisers are experts in their field and can help with a review! We’ll take the time to fully review your current circumstances and needs, then recommend an appropriate, insurance protection package that’s right for you and your family.
We also won’t charge you a fee for our services, so it really is worth getting in touch to see whether we can save you money on insurance protection products relevant to your current needs.
Most will agree, that losing money being off work through illness or an accident can be a stressful and worrying time. Forward planning can take the pressure off any future risk of losing your home and offer you the reassurance and peace of mind that you’re fully protected should the worst happen.
Call us today for free advice on 01473 603211 or drop us an email on [email protected]
Your home may be repossessed if you do not keep up repayments on a mortgage.
Important information
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £395.