OH refuses to have anything to do with finances

choccybuttons

Hi

I think your being sensible. Have you looked into mortgages yet? Your probably going to have to pay quite high premiums on your life insurance that the mortgage company will insist you take, which will need to factor in.

I would go and see a financial adviser with your wife and talk through the options. She might be more realistic with an professional outside person

JimmyTheWig

choccybuttons wrote: »

Your probably going to have to pay quite high premiums on your life insurance that the mortgage company will insist you take

I don't think mortgage companies tend to insist on life insurance, these days. Might be wrong, though.

Gra76

To be fair, the first thing I did before we started looking was to call my previous mortgage providers to ask if my cancer and subsequent treatment would have any bearing on any decision in the future and was told that it wouldn't.

My IFA didn't think it'd make a lot of difference either.

My previous providers response was along the lines of "If you die, we'll just repo your house...." which was reassuring.... :eek::)

We have 2 more at the moment to look at but unless they're seriously spectacular I think one of the ones we saw on Saturday is going to be a winner....provided it's still on the market when we sell of course...

barbiedoll

You may well get a mortgage after your illness but I doubt that you would get affordable life cover, at least for the next few years.

Ask your wife how she would cope with a large mortgage with 3 children and a part-time job should anything happen to you....and I don't mean a recurrence of your illness, you could be run over by a bus!

It's good that she likes the cheaper houses though!

Errata

re Life Insurance, HTH and wishing you well.
From the Macmillan website -

You may find it difficult to get life insurance for 2-3 years after a cancer diagnosis. This will depend on the type and extent of the cancer you had, and the length of time since your treatment. When life insurance is granted, the first premiums are likely to be high. If you're already covered, you may find it difficult to increase the value of your policy for some years.

Gra76

Errata wrote: »

re Life Insurance, HTH and wishing you well.
From the Macmillan website -

My IFA said pretty much the same thing. He told me not to apply for it till 2 years after my treatment had finished and I'd been clear. So far it's 8 months and counting! For all I know we'll still be selling the house in 14 months so that'll be the 2 years up!

In this market it's hard to tell!