Mortgage offer

Huggy_Bear

Hello

I've had a mortgage offer (through a broker) which was straightforward enough (thankfully) but my broker is repeatidly asking about life insurance or mortgage protection.

Is it a conditional to get some sort of protection, I'm a bit confused.

Thanks for any help

chanz4

Not a condition , but listen what is on offer then shop around

Yorkie1

Which insurance policies may, or may not, be appropriate for you to consider depends on your personal circumstances.

But it is not obligatory to take any of them out (except buildings insurance) when taking out a mortgage, and completely not obligatory to take it from your broker.

ethank

It is down to your personal choice, would you like someone to inherit your home if you should die, or are you happy for the your family to sell, or mortgage company to repossess your flat & sell?

With mortgage protection, will you be able to pay the mortgage if you are sick, or become unemployed?

If none of these are a concern for you, don't go for protection. It is not a requirement of your lender.