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Mortgage offer

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

Comments

  • chanz4
    chanz4 Posts: 11,057 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Xmas Saver!
    Not a condition , but listen what is on offer then shop around
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • Yorkie1
    Yorkie1 Posts: 12,184 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    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
    ethank Posts: 2,197 Forumite
    Holiday Haggler I've been Money Tipped!
    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.
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