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Redundancy - mortgage protection / housing benefit ?

Last post Mon, Jun 29 2009, 6:13 PM by maxsteam. 3 replies.
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  •  Mon, Jun 29 2009, 6:13 PM

    Re: Redundancy - mortgage protection / housing benefit ?

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    NJR:Okay but how does this work if Ive got an interest only mortgage ?

    There is not a lot of point in asking if you're already only paying the interest.
    • Post Points: 5

  •  Sat, Jun 27 2009, 11:11 PM

    Re: Redundancy - mortgage protection / housing benefit ?

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    Okay but how does this work if Ive got an interest only mortgage ?
    • Post Points: 20

  •  Sat, Jun 27 2009, 8:19 PM

    Re: Redundancy - mortgage protection / housing benefit ?

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    You should check the insurance policy but some policies will pay out for the first few weeks of unemployement, which isn't covered by benefits, and then you are expected to use your claim to pay the interest on the mortgage. You may need to contact your lender to ask to move to just paying the interest each month.
    • Post Points: 20

  •  Thu, Jun 25 2009, 9:37 AM

    Redundancy - mortgage protection / housing benefit ?

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    Hi

    Im about to be made redundant - probably next week. Ive only been there 9 months so wont qualify for any redundancy money. Ive got an unemployment protection policy which I never planned on using and Ive only had for 4 months. What is the difference between getting the insurance company to pay your mortgage and claiming housing benefit which you would use to pay your mortgage ?
    • Post Points: 20