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Mortgages insurance... Help!
Linz86
Posts: 1 Newbie
Hi,
I'm a bit new to this!
I've been looking at mortgage insurance for lose of earnings for my husband. He is currently a contractor for the nuclear industry and they have just been told they maybe laying people off at Christmas. We've realised we need to try and get our mortgage protected but I'm finding all the information a bit overwhelming. Some places are saying as my husband is a contractor we don't qualify and others are saying we do. Has anyone else been in this situation and got any advice, anything big or small would be brilliant. Thank you in advance 😊
I'm a bit new to this!
I've been looking at mortgage insurance for lose of earnings for my husband. He is currently a contractor for the nuclear industry and they have just been told they maybe laying people off at Christmas. We've realised we need to try and get our mortgage protected but I'm finding all the information a bit overwhelming. Some places are saying as my husband is a contractor we don't qualify and others are saying we do. Has anyone else been in this situation and got any advice, anything big or small would be brilliant. Thank you in advance 😊
0
Comments
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You're looking for redundancy cover after they have announced there's going to be redundancies?
I'm afraid that's not going to work. He will need to make a declaration that there are no redundancies planned at his place of workI am a Mortgage Adviser
You 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 -
As betmunch says, you need to take out a policy before redundancies are announced.
Being a contractor is an issue with some insurers but in any case the above is the bigger issue.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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