| Over one-third of mortgage holders have no protection in place, leaving them exposed | Nearly half would struggle to meet repayments within six months of losing income | Income protection and life cover can help safeguard mortgage payments and long-term home security |
Getting a mortgage is often seen as a major milestone on the path to financial independence. However, new research1 suggests that many homeowners are taking on this significant commitment without putting the right protection in place.
A missing safety net
According to the findings, more than one in three UK mortgage holders have no life insurance, income protection or critical illness cover. This leaves millions of households uncertain about how they would manage their mortgage payments if their income was suddenly disrupted.
The situation is even more concerning given that almost half of mortgage holders say they would struggle to meet their monthly repayments within six months of losing their income. Many admit they would need to rely on borrowing or selling personal belongings to stay afloat.
Protecting what you’ve built
Having a mortgage can create a sense of financial stability, but without protection in place, that security may be more fragile than it seems. If you were unable to work due to illness or injury, the financial position you’ve worked hard to achieve could quickly come under pressure. Income protection can help provide reassurance that your payments remain covered.
The research also shows that one in five mortgage holders would turn to family or friends for financial support if they fell behind on repayments. A similar proportion would consider selling valuable possessions such as a car or jewellery, while 8% would look to take out a bank loan.
Taking a more proactive approach can make a significant difference. Arranging appropriate cover, such as income protection and life insurance, can help ensure you and your loved ones are able to maintain mortgage payments and financial stability, whatever happens.
1LifeSearch and HomeOwners Alliance 2025
It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored advice and is for guidance only. Some rules may vary in different parts of the UK.
