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Australian Life Insurances Uk resident
bluechilli2010
Posts: 8 Forumite
Hi there,
Am a newbie! having returned from Overseas last year & back in UK now looking at buying a house.
We have life insurances/total disability/critical illness cover etc still running from when we lived in Oz. The Oz insurance company knows we are now residing in the Uk but was wondering whether when we come to get a mortgage, it will be a problem given they are not UK insurers?
Have spoken to a couple of IFÁ's a few months ago & said they couldnt do a better deal than we had, but then that is because our monthly payments are being paid out of our Aussie superannuation.
Any advice would be greatly appreciated! thanks:j
Am a newbie! having returned from Overseas last year & back in UK now looking at buying a house.
We have life insurances/total disability/critical illness cover etc still running from when we lived in Oz. The Oz insurance company knows we are now residing in the Uk but was wondering whether when we come to get a mortgage, it will be a problem given they are not UK insurers?
Have spoken to a couple of IFÁ's a few months ago & said they couldnt do a better deal than we had, but then that is because our monthly payments are being paid out of our Aussie superannuation.
Any advice would be greatly appreciated! thanks:j
0
Comments
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Your life assurance arrangements have no impact on your ability to get a mortgage.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
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These are not qualified policies so any payment would be UK taxable.
The super is also annually reportable on your UK tax returns as it is not a UK registered plan.0 -
Lenders have not insisted on life assurance being assigned to them since around the early to mid 90s. So, product wise, it is not an issue.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
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