i currently have a joint policy split 50/50 with my wife with our lender ,can i take out another policy with a third party for cover for myself as a top -up as i make morgage payment every month ?

Hi --- As far as I am aware, you can have as many life policies in force as your pocket can stand....joint or single. !!!

You can also take out income protection insurance ( MS guide below ), that gives you more flexibility and replaces a percentage of your lost income. That is often cheaper and better value rather than specific mortgage protection policies which just pay to your mortgage provider.

http://www.moneysupermarket.com/ASU/IncomeProtectionDefault.asp