Last December saw UK average house prices fall by another 2.5% taking the average house price down to £153,048 which amounts to £29,000 less than 1 year ago. However the number of new mortgages offered and approved in November was at it lowest since at least 1997, according to recent statistics from the British Banking Association (BBA).
The banks and building societies have taken a hit on the interest rate income and continuing to stifle liquidity and extenuate the crisis that they created. Despite Government measures the crisis appears to be deepening as the supply of money shrinks.
With unemployment growing daily and the outlook for the first half of the year bleak, it really is time you took a look at mortgage payment protection insurance.
This cover is specifically designed to meet your mortgage outgoings should you become unemployed. Award winning British Insurance offer various payment protection policies with mortgages covered up to £2000 per month. A typical premium will be in the £30 – £40 per month range – excellent value for peace of mind in these times when no ones job is secure.