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Compulsory Life Assurance?
tcall
Posts: 222 Forumite
Does anyone know lenders' views regarding life assurance for mortgages? We are first time buyers and I can't see anything in the C&G brochure regarding compulsory life assurance. We've had an agreement in principle for the mortgage but haven't applied yet. Just wondering if they'll spring it on us when we apply.
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Comments
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C&G have never insisted on any compulsary insurance sold by them. House insurance will be compulsary, as it is with all mortgages, but it doesnt need to be with them.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Don't know if it is compusory but I would strongly recommend it though!
I know of instances where people decided not to go for Life Cover because they had death in service benefits with their employer but then needed to get in a panic when they were made redundant! (surprisingly it was one of the things they had 'forgotten' about until it was casual mentioned to them!)2014 Target;
To overpay CC by £1,000.
Overpayment to date : £310
2nd Purse Challenge:
£15.88 saved to date0 -
Quite right, would you drive your car without insurance, would you buy TPFT or Fully Comp?
If you cut corners you end up in double trouble.If you don't know what you are talking about keep quiet0
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