FTB, question about mortgage & health issues

LilacPixie

Goodluck mrswoolfe.

poppysarah

Would your current insurance pay off your new mortgage taken out after a pre-existing condition caused you ill health?

zzzLazyDaisy

I have a number of illnesses/disabilities, and I have never had any problem obtaining a mortgage. I can see that it might affect insurances, but that is a side issue.

nell53

Sorry to hear that. Just a thought, have you tried checking your credit score yourself to see what it comes back with?
A couple of years ago I was confident I would have no probs but was declined for a credit card and having checked with Experian, I discovered an outstanding debt I know nothing about. Took ages to get it sorted, but managed to get it removed in the end.
Worth a try.

GavB79

I was in the process of moving last December when I was hospitalised for a lengthy period. The mortgage company (Abbey/Santander) withdrew their mortgage offer until I was back at work on full pay, even though I was on full rate sick pay at the time. The purchase fell through and I am now back living at home!

betmunch

Accord have a particularly tight credit scoring system in my opinion. And for the guy to be surprised by this will just be added to the list......

I hope you have better luck with the second opinion guy.

On a side note, for PoppySarah, current insurance should be fine to pay off a mortgage taken out after diagnosis of a problem, as long as the insurance was taken before the onset of the problem.
The thing to bear in mind, and this is where a good adviser earns his crust, is: Is the current insurance relevant to the clients needs?

MrsWoolfe

Hello again,

I have actually checked my credit report- I did it yesterday in fact- and it was all good nothing bad on it no outstanding debts everything looking good....it really does look like it can only be down to not having any current credit - with the last loan we had being paid off 5mths ago....

As for insurance covering me, this is more of a side issue- as I mentioned earlier all of the test results came back good- so other than high blood pressure- which is being treated and monitored- there are no pre-existing conditions, and the blood pressure is a recent development- as I've had my current cover for over a year I'm not concerned about that right now.

So, in the meantime I'm waiting for a call back from the other MA, have looked online for different deals and have seen one with Halifax which looks good so far , does anyone know if Halifax are likely to have as harsh requirements as Accord???

thanks for reading- and for the messages am sure I'd have developed a full blown rage by now if it wasn't for all of your helpful advice!

MrsWoolfe

Yorkie1

Just to caution against making too many phone calls to too many different institutions. If you're not careful, they may end up doing credit searches against you, and the more of those there are, the more problems that causes in itself.

puddy

i doubt someone can do a credit search on someone just because they ring up?

in any case, who are accord?? ive never heard of them, are they a bank or a broker or something

cant you find a mortgage on a comparison site and apply direct? thats what ive always done, ive never had a mortgage broker

betmunch

Halifax are quite lax in comparison to Accord, one thing to watch out for with them though is at the Agreement in Pricipal stage (or Mortgage Promise as they like to call it) they DO NOT do a full credit check on you.

If you have had more than 2 addresses in the last three years they wont bother checking the after your second address!!! I was fuming when this caught me out! Having said that if you havent moved about much their Mortgage Promise is as solid as any other lenders AIP.

Even so I would wait for the Expert to come back to you rather than just getting impatient and picking a bank at random