We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
mortgage protection?
Options
primera786
Posts: 30 Forumite
My daughter is taking out a mortgage is 84k is is work the extra £15 a month on mortgage protection or are these just not worth it.
0
Comments
-
Ask your daughter how she plans to repay the mortgage if she is unable to work through accident, sickness and redundancy and you have your answer.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Other than sickness surely she will have at least 6-9 mths before mortgage company threatens her and I work on principle if you cant get another job within 6 months you have a major problem. so it sounds like only sickness cover may be required.0
-
mortgage mamma is bang on but be advised that you can shop around for this insurance as usually you can get it cheaper from another company' a few quid over 25 years works out a lotta dosh0
-
it can be a lot quicker than 6-9 months if the lender doesnt think you stand much chance of catching up again.
I am not a fan of ASU policies as there are too many get out clauses and they are not underwritten to your circumstances. I prefer PHI which can be much better value for people over the long term (especially the self employed).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.7K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.4K Spending & Discounts
- 243.7K Work, Benefits & Business
- 598.5K Mortgages, Homes & Bills
- 176.8K Life & Family
- 256.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards