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Writing a will

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  • davidmcn
    davidmcn Posts: 23,596 Forumite
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    MEM62 wrote: »
    Really? If you have a high LTV then a mortgage underwriter may want some assurance that they are not going to be looking at a loss should something happen.

    I would understand that if there was a ban on forcing you to take their insurance but asking you to have adequate cover with a provider if there is a perceived high risk to underwriting the mortgage is surely not unreasonable.
    Yes, but does it actually happen? It's been ages since I've heard of anyone being required to put life cover in place for a mortgage.
  • kingstreet
    kingstreet Posts: 38,780 Forumite
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    davidmcn wrote: »
    Yes, but does it actually happen? It's been ages since I've heard of anyone being required to put life cover in place for a mortgage.
    It hasn't been a requirement for years on a residential mortgage.

    I'd say mid-90s if I was pushed.
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • ThePants999
    ThePants999 Posts: 1,748 Forumite
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    Keep_pedalling wrote: »
    Agree in your situation you don't need life insurance, but you might to wise to look at critical illness cover so you dont find yourself being in the position of being unable to work and unable to pay the mortgage.
    If paying the mortgage is the concern, income protection is surely the right product rather than critical illness cover.
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