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advice re mortgage guarantee
kally48
Posts: 16 Forumite
Hi, my ex husband covers my mortgage as a condition of our divorce agreement, but I am worried in case something was to happen to him as I would not be able to pay the mortgage on my own. Is there a policy I can take out in the event of his death, redundancy etc that would cover the payments?
Thanks
Thanks
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Comments
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You can take out life insurance on a life of another basis, the same goes for income protection insurance. Im not sure about unemployment cover though.
This is something you might need to speak to a mortgage or financial advisor as these will not be openly available on the internet etc as theyre quite specific products.I am a Mortgage AdviserYou 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 -
Is there some kind of advice I can seek that won't cost me the earth regarding this, as I am on very low salary and can't afford the hundreds of pounds that a financial advisor will charge?. many thanks.0
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Yes, pretty much any mortgage or financial advisor can do this without your paying any upfront fees. The commission from the provider will pay for the advisor.
All it will cost you is the monthly premiums, there are not usually any upfront costs.I am a Mortgage AdviserYou 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
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