Mortgage protection is life cover that pays off your mortgage if the worst happens. It’s not just a requirement from lenders, it’s peace of mind for you and your family.
Don’t worry, you’re in safe hands with Sherry FitzGerald Mortgages. We’ll guide you through the options, shop the market on your behalf, and help you secure the right cover at the right cost.
As a homeowner or someone looking to buy your first home, you might have encountered the term "mortgage protection" and found yourself curious about its importance.
Let’s break it down simply:
Mortgage protection is a type of life insurance that’s linked directly to your mortgage. If you or your partner were to die during the term of the loan, the policy clears the outstanding balance. That means your loved ones won’t be left with the repayments, and most importantly, they keep their home.
In Ireland, lenders require you to have mortgage protection in place before releasing the funds for your mortgage. But beyond being a box to tick, it’s real peace of mind: knowing your family is financially secure no matter what happens.
As your broker, we shop the insurance market on your behalf. Because we’re not tied to any one provider, our team of qualified experienced financial professionals can recommend the policy that best suits your needs and budget. In some cases, you may also want to add benefits such as Serious Illness Cover (sometimes called Specified Illness Cover), which pays off your mortgage if you’re diagnosed with certain illnesses.
At Sherry FitzGerald Mortgages, our job is to make life easier for you. We’ll guide you through every step, from choosing your cover to securing your mortgage, so you can focus on your home, knowing you’re in safe hands.
The amount you pay will depend on:
You have three options for cover:
We're here for you and your next move!
Mon - Fri from 9am - 5pm
Yes, in most cases. Mortgage protection insurance is a legal requirement for most residential mortgages in Ireland. There are some exceptions — for example, if you're over 50, the mortgage is not on your main private residence, or you already have sufficient life cover in place. We can talk you through your options.
Mortgage protection is a type of life insurance that runs for the same length as your mortgage. If you or your joint policyholder dies during this time, the policy pays off the remaining mortgage balance with the lender. Most policies are set up on a “joint life, first death” basis, meaning the mortgage is repaid when the first policyholder passes away.
Sometimes. If your existing life insurance policy provides enough cover to repay the mortgage in full, it may be accepted in place of a new mortgage protection policy. However, your lender must agree to this, and the policy must meet specific conditions.
No, standard mortgage protection only covers death. It does not cover your repayments if you become ill or lose your job. For that, you would need additional cover such as income protection or serious illness cover (also known as specified illness cover), which are optional and depend on eligibility. We can help you explore these options if you’d like extra peace of mind.
If you change lender, you’ll need to let your mortgage protection provider know. Your existing policy can usually be reassigned to the new lender, but you may also choose to take out a new policy. It’s important to ensure you have continuous cover during the switch.
Advice, not sales
Our brokers are qualified financial advisors and will thoroughly assess the mortgage market, until we find the right options for you.
Experience you can trust
Since 1998, we’ve been providing mortgage advice on every aspect of the Irish property market and can support you through the process, from first chat to keys.
Tailored advice and market choice
As one of Ireland's leading brokers, we compare all lenders and life companies to secure the best deal for you and your future.
Expert mortgage advice - without the pressure
Whether you’re buying your first home or switching your mortgage, our team finds the right lender, rate, and terms for your needs.
Flexible life cover, tailored to your future
We compare policies from leading providers so you get the life insurance you need - scaled to your life stage and budget.
Smart retirement planning made simple
Let us create a tailored retirement portfolio for you. It's smart and sophisticated, aimed at helping you reach your goals.
You can choose to meet either virtually or in person, at a time that is most convenient for you.
Send us a message or call us now on 01 6431402, Mon - Fri 9am - 5pm