Mortgages & Cancer Diagnosis

unsureofthings

Does anyone know how having a cancer diagnosis would affect us getting a mortgage. From what I can gather it will but will it totally stop us ???
My partner works full time and I am on contribution based ESA and hoping to start part time work soon. Partners wage alone wont quite get us the small mortgage we need and we would need to have my small wage considered. The type of cancer I have is non-terminal and is managable but probably not curable in the longterm. Question is would they consider a mortgage if one applicant has uncertain health?

Also is mortgage protection insurance compulsory for all mortgages (have a feeling it is?!) Am assuming you wouldnt be eligible for this is you have an ongoing cancer diagnosis ?! bit confused - any feedback appreciated.

_Andy_

The insurance isn't compulsory. Pre-existing conditions woud be excluded.

TEDDYRUKSPIN

Mortgage is mortgage (loan) - insurance is insurance.

As long as the mortgage is affordable and considered to be passed by the lender, you should be fine. As for taking out critical illness cover etc, they will most likely decline the cover - however, you can still go through the process if you want.

As for ESA - lenders may not include this in the total earnings - reason being that ESA can be stopped anytime.

Rafter

Best thing is to speak to a mortgage advisor - if you 'Loan to value' ratio is very low, some lenders may be prepared to relax the multiple of earnings they are looking for.

If you have existing life cover on a previous mortgage or loan prior to your diagnosis, keep up payments as the cover will still be valid.

Good luck

R.