With UK mortgages now averaging around £175,000 it is a highly competitive market for banks. The onus of payment is entirely on the purchaser and with so much money at stake financial institutions are as serious as ever about receiving the money owed. This being said there are grave consequences for those that miss payments etc with houses often confiscated to cover the debt. An insurance policy related to this is mortgage protection insurance which protects solely against people who experience lifestyle changes as a result of losing their jobs. Jenny Howles of Mortgage Protection specialists Ant Insurance states that “Whilst most people who purchase never have to use it, the feeling of protection is the main influence for people. This policy takes away the stress for people who fear being made unemployment for some reasons and allows them to focus on regaining employment in an area they want as opposed to taking any role for the sake of financial reasons. ”