With a Term Assurance policy you choose the term and the level of cover you want from the outset. These are commonly used by people with mortgages or debts to ensure that, should the life assured usually the borrower) die within the term, the cover provided under the policy becomes payable and can be used to help settle the loan.
Critical Illness Cover
Critical illness cover pays a tax-free lump sum if you are diagnosed with certain conditions listed on your policy. Cancers, strokes and heart attacks are the most common claims, but most insurance providers will cover dozens of conditions ranging from permanent blindness to organ transplants.
Critical illness cover can be taken out on its own, or as part of a life insurance policy. Just like term assurance policies are often used to cover mortgages and other liabilities.
Business Loan Protection (Portfolio Landlords)
This type of policy could be used to help a business clear its debts. If you have a business loan, overdraft, commercial mortgage or director loan account, being able to make the repayments is crucial to your continued success – and survival. A policy could provide a lump sum which could help you pay off the loan. Without it, the remaining partners or directors – or even your family – could be held responsible for any outstanding financial commitments.
Buy to Let Portfolio Mortgages
As a company we specialise in buy to let and portfolio mortgages.
Whether you are a portfolio landlord with four or more, mortgaged Buy to Let UK rental properties, or this is your first buy to let purchase as a one off or to start to build your portfolio, we can find the right mortgage for you and your circumstances.
For a portfolio, this includes properties owned through a limited company, holiday lets, ‘consent to let’ properties and all BTL mortgages, owned solely or jointly by the applicant(s).
For portfolio landlords the standard lender criteria includes:
At least 24 months’ experience of letting properties is required at the time of application.
Maximum 75% LTV on the property to be mortgaged.
In line with the latest regulation, portfolio landlords will be assessed against additional criteria, stress tests and will need to provide extra documentation.
Example rates available: (correct at 12/09/2018, subject to change at lenders)
|2 year fixed||75%||1.79%|
|2 year fixed||70%||1.78%|
|2 year fixed||60%||1.54%|
|3 year fixed||75%||2.22%|
|3 year fixed||70%||2.21%|
|3 year fixed||60%||1.69%|
|5 year fixed||75%||2.74%|
|5 year fixed||70%||2.69%|
|5 year fixed||60%||2.22%|
Key Person & Shareholder Protection
Key person protection can basically help keep a business trading, as losing a key person through death or serious illness could have a detrimental effect on your business.
A key person can be:
- A Business Founder
- A Senior Manager
- A top Sales Person
- A Technical Specialist
Losing a shareholder or partner through death or a serious illness could have a detrimental effect on your business and family.
- The shareholder’s family may want a quick sale; if the remaining stakeholders can’t raise the funds, the share of the business may be sold to an unsuitable buyer.
- The shareholder’s family members could become involved in running the business, even if they don’t have the relevant expertise.
- Banks and creditors may want to renegotiate terms or call in debts if the ownership changes.
You can use Shareholder/Partnership protection to avoid these kinds of problems, giving the remaining shareholders the funds to help buy back the share of the company or the partnership as well as provide extra money to cover any loss of profits which results from the death or illness of a shareholder.