Who We Are
Robin Mortgage Design is a whole of market mortgage & protection brokerage. Mortgage brokers who are whole of the market have access to the largest pool of mortgage providers such as banks, building societies, and pure mortgage lenders. When you choose us, you’ll be treated as an individual from the very start. We’ll take the time to understand your situation and propose suitable options for your mortgage & protection needs.
On this page, we’ll share information to help you as First-Time Buyers understand how you could get a mortgage and what you can do to prepare for your application. If you’d like to speak with an actual human at any point, then we can get you in touch with your personal mortgage consultant who will be on hand to guide you through every stage of your journey.
At Robin Mortgage Design, we don’t charge a fee for arranging Critical Illness cover, making the important things more affordable for everyone.
What is Critical Illness Cover?
Critical Illness cover is taken to protect you and your loved ones if you get diagnosed with one of a number of specified conditions. If you are diagnosed with one of the covered conditions, then the policy will make a lump sum payment to you to spend how you wish. This could be used to repay debts or help with any costs associated with the condition.
What is the benefit of Critical Illness Cover?
This will depend on personal circumstances, but let’s take a look at an example. Take a family with 2 parents and 3 children. If one of the parents was diagnosed with an illness it might have an impact on finances, such as loss of employment. What happens to the family? Does the other parent have enough money to pay for the bills, the mortgage, and still pay for the children's after-school clubs? This is where Critical Illness cover comes in; with a lump sum of money, the family would be able to reduce their commitments to meet their new financial situation.
How does Critical Illness work?
Critical Illness is a great product, but before you go online and take the cheapest cover you can, you might want to consider how the different options work.
There are few types of Critical Illness cover, but let’s cover the 2 most common types:
Level Term Assurance: This type of insurance is an amount of cover that remains consistent over the term of the policy. So, if you take £100,000 of cover over 25 years, then you could claim this value at any time if a claim were needed.
Decreasing Term Assurance: This type of cover can be cheaper than level term but this is because the level of cover reduces at a set rate of interest. This means that if you took £100,000 over 20 years when you get year 10, you might only be able to claim between £50 - £70,000 on your policy.
Level of Conditions: Different providers offer different levels of cover, this can range from as little 20 conditions to over 100 and some policies will also cover children.
Are my premiums guaranteed?
This is an excellent question and worth double-checking before you commit to any type of insurance.
Most types of cover offer guaranteed premiums, but this term can be used for a variety of policy types. Let’s look at some of these now:
Guaranteed Premiums: Your premiums will remain the same throughout the term of the policy.
Guaranteed Age Costed Premiums: This is where your premiums will increase with your age at a guaranteed rate, usually increasing yearly. They tend to start off cheaper but can become rather expensive as the years go on.
Reviewable Premiums: This is where your premiums are reviewed, usually every 5 years. The review can consider a variety of things, claims, and medical history being some of these. If your policy has reviewable premiums, make sure you understand the full terms of the policy before committing.
How much does Critical Illness Cover cost?
This is a good question. If you’re 18 and have a perfect bill of health, it can be as little as £6.00 per month. As your age creeps higher, the more extreme your hobbies or occupation, or if any hiccups in your medical history occur, then you can pay in excess of £100 per month.
When considering any type of insurance, it’s important to remember why you’re taking it and only take what you need. This will help to make sure that the level of cover you have and the cost of the cover is worth it.
Think... Does the benefit of having the cover outweigh the savings if you didn't have it?
How likely is Critical Illness Cover to pay out?
There is a misconception that insurance companies don't like to pay out when the time comes. However Critical Illness has a good record of paying on claims with some providers paying out on over 90% of claims.
Always make sure you’re truthful on the application, any false information can cause the insurer to decline the claim.
Can I get Critical Illness if I have a troubled medical history?
This is an excellent question and yes, there could still be options, but this does depend on your personal medical history. The best thing you can do is to seek advice from a protection adviser and make sure you share every part of your medical history. Your dedicated adviser will then be able to let you know the options and when you'll be able to apply for protection. If required, there are specialist providers that can help, although unfortunately, they won’t be able to cover everyone.
Some of the common areas for insurance to be declined or rated for increased premiums are:
Height and weight, otherwise known as your BMI rating
High blood pressure
Conditions such as cancer or heart attacks
Smoking / Vaping
There are many reasons why your insurance application may be declined or rated for a higher premium including sports you play and your occupation. To make sure you have the right protection with the right provider, it’s best to seek advice before taking Critical Illness cover.
My premiums increased, what does that mean?
If your premiums increased after your application, it’s likely that the provider sees you as an increased risk. This could be because of a number of things including your age, occupation, hobbies or medical history.
If you’ve had your premiums increased, then you consider the reasons why and see if another provider is more suitable for you.
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON YOUR MORTGAGE
The information contained in this website is subject to UK regulatory regime and is therefore intended for consumers based in the UK.
Not all forms of mortgage lending such as certain Buy to Lets are regulated by the Financial Conduct Authority along with some additional related services, such as Conveyancing. A full disclosure document will be provided to you.
If you are considering securing additional debts against your home: Think carefully about securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.
Some links on this website will take you to third party websites. Robin Mortgage Design have no control over and are not responsible for the content of other sites.
*some services are by provided as a referral to a third party company. No personal information will be shared with such companies without your prior permission. Robin Mortgage Design have no control over these companies and cannot be held accountable for their service or advice.
Robin Mortgage Design is a trading style of Robin Partnership Ltd whom is an appointed representative of HL Partnership Limited, which is authorised and regulated by the Financial Conduct Authority. The registered Office of Robin Partnership Ltd is 22 South Street, Castlethorpe, Milton Keynes, Buckinghamshire, MK19 7EL. For more information please refer to the FCA register https://register.fca.org.uk
Robin Mortgage Design charge a broker fee which is only payable on mortgage offer. The precise amount will depend upon your circumstances however a typical fee is £395.00 and the maximum that could be charged is £1,495.00