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Life insurance
Comments
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I bought three houses - in 1983, 1988 and 1992 - with mortgages from building societies, and none of them insisted (or even mentioned) life insurance. But the last one did try to flog me payment protection."There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0
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We didn't need life insurance on a mortgage taken out in 2014. I believe it is only certain people who this would apply to. Your age or health may be a factor, if they have reason to believe you may not be able to repay the full amount, life insurance would cover it. It's not personal, they just have to cover themselves or none of them would be in a position to lend if they didn't get their money back.
It's more than likely a condition of the mortgage and all above board.Money Saving since 2016 and determined to be debt free by 2020.0
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