Mortgage protection insurance annual premium vs monthly

A

abbey

Registered User
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55
Hi,

We have received our loan offer from the bank and have to organise mortgage protection insurance (we just want this).

Most of the quotes seem to be for a monthly amount. Can you pay annually and what are the pros of cons of doing so? Do you sign up to pay the mortgage protection for just 12 months and could you then review it to ensure it is competitive as the amount of the mrotgage reduces?

I hope I am making my query clear?!

Thanks
>
 
I am surprised that they don't quote you for an annual amount.

Yes, you can and should review it every couple of years.

Brendan
 
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