Many lenders will only offer a loan if you take out payment protection insurance. This is a policy that will enable you to meet your monthly repayments should you fall ill or become unemployed.

Payment protection insurance may seem like an added expense, but it is a sensible precaution. But you don't need to take the insurance offered by the lender. Again, shop around - there are many firms that offer payment protection insurance and their rates may be lower than those offered by your lender.