Income loss would cause 14% of young mortgage holders to struggle

The research, which surveyed 1,269 homeowners including 511 mortgage holders in the UK, also found that 57% of young mortgage holders would be in difficulty within six months following an income loss. Nearly one third (30%) of young mortgage holders had no protection cover in place, including life insurance or critical illness cover (CIC). Although 54% of this demographic reported having life insurance, LifeSearch said that this may present a more positive picture than reality as its experience has suggested that actual take-up may be "significantly lower". Meanwhile, 15% of young ...