didnt tell remortgage company that wife is pregnant... Help!!

Sheep

I didnt tell the company that im remortgaging with the my wife is pregnant as i didnt want it to fall through. We were only just in affordablilty. Today the bank called to say as part of the app they need to give us a quote on life insurance. it was a third part company that took all the medical questions but one of the questions was about pregnancy! my wife said she was pregnant, after app the company said they will send a copy to bank to get a price. will they pick up on the pregnancy? or is it just the insurance people that deals with those questions?..... please help

nw_man

The bank needs to give you a quote on life insurance??

Yes, its a worthwhile product to have, but what they meant to say was they want to sell you some life insurance. It should have no bearing on the mortgage application at all.

Go and see an IFA, or even go online and get a quote.

dimbo61

You are buying a property and taking out a mortgage on that property, your wife is pregnant and you will soon be a dad so yes you do need Life Assurance to at least cover the mortgage if not a bit more on top.
The bank want to make money out of you by selling you life assurance but you dont have to take it out from them ( most offer poor value)
Take out a level term cover ( not decreasing term)
Martin has an article on this website about life assurance which mentions Cavendish online ( they cannot give advice!!!!) But I will save nearly £5000 over the next 22 years on premiums