Do you know about Scottish Widows’ price lock promise?

When your clients are applying for their mortgage protection, they won’t always know when their mortgage will start. This has been especially true during the Covid-19 pandemic, due to the strains and backlogs with solicitors, estate agents, lenders etc.

With the price lock promise from Scottish Widows Protect, from the time you submit your client’s application to when the policy goes in force, Scottish Widows guarantee the price won’t change for up to 12 months.

This means that:

  • there will be no increase in price as a result of any delays to your client’s mortgage starting
  • if Scottish Wdows have to gather further underwriting information after you’ve submitted your client’s application, there will be no increase in price during this period
  • there will be no increase in price even if your client passes a quarter birthday.

This is only available on policies which are set up on a term basis (not “to age” policies) and is subject to any underwriting terms being applied.

You can find out more about Scottish Widows’ price lock promise and other features of Scottish Widows Protect in their interactive pdf.

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