Read our latest article on how Nicholas Humphreys (Sheffield – Broomhill & Crookes) can help you keep the keys to your home in your pocket with a Rental Protection Plan that could help you pay the rent on your home when you can’t.
Did you know the average UK employee has enough savings to last them just 32 days on their current lifestyle if their income stopped? Do you have the financial security for you or your family should the worst happen to help pay the rent?
WHY IT’S SO IMPORTANT TO BE PROTECTED
Taking out a Rental Protection Plan is a great way to protect yourself, or the ones you love should the unexpected happen during the length of the plan. But don’t take our word for it, take a look at the facts below:
- If you have a fixed term Tenancy Agreement, you are committed to it with little chance of breaking away mid-term
- Rental arrears could affect your ability to secure a new tenancy agreement or mortgage in the future
- Employers are only obliged to pay Statutory Sick Pay for up to 28 weeks
- On average, only 30% of employees have a financial back-up plan if they couldn’t work due to long-term critical illness, disability or loss of salary
- In 2017, the average rent for a 2-bedroom property in England was £650 per month
(in London it was £1,473)*
How long could you afford to pay your rent if your income unexpectedly stopped?
* Information supplied by The Money Charity 2018
WHAT CAN A RENTAL PROTECTION PLAN DO FOR YOU?
A Rental Protection Plan can provide financial support to cover rent payments in the event of an illness or incapacity leading to the inability to work and loss of income. It can help towards covering living expenses such as utilities, medical bills, childcare, and any other monthly outgoings.
At Nicholas Humphreys (Sheffield – Broomhill & Crookes), we have recently teamed up with Mortgage Advice Bureau and can now introduce you to their services should you need advice in this area.
Everybody has different needs and circumstances so, they can provide assistance with:
- Explaining the benefits of taking out a Rental Protection Plan
- Understand the limits and Terms & Conditions that a Rental Protection Plan can offer; and
- Help choose the cover that best suits you
Whether you are already renting your home through Nicholas Humphreys (Sheffield – Broomhill & Crookes), renting through another estate agent, renting directly with your landlord or even thinking about making the big step to buy your own home, you can call us on 0114 470 4715 and we will be happy to refer you to our friends at Mortgage Advice Bureau who can provide you with the advice and assistance you need.
Our office is open 7 days a week from 8am to 8pm.