Frequently Asked Questions

Here are some of the most often asked questions we get here at Pride Protect. To make it easier to navigate, we have split the FAQs into categories. If there's a question you have that you can't see the answer to, or you need more information, please don't hesitate to get in touch - we're always happy to help!

Mortgages

As a general rule you will need to provide the last three months’ payslips. If you are in a new post/role, then you will need to show your signed contract and the first one or two payslips. You may need prior experience in the same occupation if you are in a new role. We will look to find suitable lenders based on length of time in employment.

Of course! We can help self-employed clients find a mortgage, whether you are a sole-trader, or the Director of a Limited company. You will need to provide evidence of self-assessments and/or company accounts.

Typically, lenders require at least two years of accounts, but please get in touch with us so we can discuss your individual circumstances.

A sole trader needs to provide Tax Year Overviews and Tax Calculations, and in most cases for Limited Company, Directors Company Accounts, depending on whether you wish to use Salary and Share of Net Profits for affordability purposes or Salary and Dividends. We can discuss your options with you.

Some mortgage providers may grant a mortgage with just a 5% deposit. At the time of writing this there is a product that doesn’t require a deposit but you would need to meet other criteria.

If you are wanting to secure a Buy-To-Let mortgage, you generally need a 25% deposit, although there are some providers that may grant a mortgage with just 20% deposit.

We love to help first-time buyers! In fact, it’s one of the things we like to do most and we’re very proud of our record of helping first-time buyers to get on the property ladder. We have a First-time Buyer Guide and explain every step of the process.

Private Medical Insurance

It does depend on the type and level of cover you take out, but typically Private Medical Insurance covers any healthcare costs that develop after the start of your policy. This is for Acute conditions only, Chronic conditions are not included.

Most insurers do not cover pre-existing conditions. However, the rules around this can vary and will depend on the Underwriting around the policy you choose. For example, insurers can cover them if you are symptom and treatment free for 2 years after your cover has started.

Having a disability does not exclude you from getting Private Medical Insurance. The rules tend to be the same as for those with a pre-existing condition and so you may find that you are not covered for any treatment needed as a direct result of your disability. However, the law does require insurers to be fair and reasonable when looking at these types of claims.

Most Private Medical Insurance plans only cover you for treatment within the UK and so you would not be able to claim for treatments abroad. To ensure that you are covered for medical costs whilst abroad for a short period of time, it is recommended that you buy travel insurance. If you are planning to stay abroad for longer periods of time (e.g. for work or as a student), then we suggest you look for an international medical insurance plan.

Life Insurance

Providing you are over 18 years old, you can take out a Life Insurance policy whenever you like, although some providers have an upper age limit.

Yes, you can, but please be aware that should the combined amount of your policies add up to a high amount, your providers may wish to do additional checks to ensure that you are insured correctly.

It varies, but most policies start at 5 years as a minimum. If taken out to cover a mortgage, for example, it is usually recommended that you take out a Life Insurance policy to cover the term of the mortgage. You may choose to provide long term family protection to age 90 with a term policy or on a whole of life basis.

Yes, you can and it is a good way to ensure the right people benefit and in a timely manner. We can help you do this during or post application.

Estate Planning

You can make a Will at any time after you have turned 18, providing you have the mental capacity to do so. Generally speaking, people tend to make a Will after key life events, such as having children, or getting married/divorced.

No, Wills are not final. Wills only become final upon your death. You can make changes and update your Will at any time, provided you have the mental capacity to do so. However, Wills that have been signed and witnessed cannot be altered. You can instead opt to make a new Will if there are major changes or have them updated by the company who has prepared your existing Will. Please feel free to get in touch with us if you think you need to make changes to your Will.

Deprivation of assets happens when someone deliberately gives away, transfers, or reduces their assets—such as money, property, or investments—with the intention of avoiding certain costs or responsibilities. In estate planning, this often comes up in relation to care home fees or means-tested benefits.

For example, if a person gifts their home to a family member shortly before needing long-term care, and the main reason for doing so was to avoid paying care fees, this could be considered deprivation of assets. Local authorities have the right to investigate and may still treat those assets as if they belong to the person when assessing eligibility for financial support.

Why is this important?
Estate planning should always be done with transparency and foresight. While gifting assets can be part of a legitimate plan, it’s essential to consider timing, intent, and legal implications. Acting too late or without proper advice can lead to complications for you and your loved ones.

We recommend you seek professional advice and guidance before making significant transfers or gifts. For more information please get in touch with us.

It’s a good idea to review your estate plan regularly to make sure it still reflects your wishes. Life changes quickly, and events like getting married, divorced, having children, moving home, or changes in your finances can all affect your plan.

As a rule of thumb, check in every few years — or sooner if something significant happens. Keeping your plan up to date gives you peace of mind that everything is in order for you and your loved ones.

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