Getting Mortgages if Ill

fleetingmind

Do mortgage providers check your medical records when you are getting a mortgage?

I can't remember if you have to declare a past illness, current illness or if you are being investigated for a illness?

Thank you

glosoli

Many years ago (I mean back in the 1990s), mortgage advisors did indeed have to ask health related questions - including whether people had Sexuality Transmitted Diseases. Luckily however, we live in more sensitive times, and these questions will only arise should you apply for insurances, such as Life and Critical illness cover.

fleetingmind

glosoli wrote: »

Many years ago (I mean back in the 1990s), mortgage advisors did indeed have to ask health related questions - including whether people had Sexuality Transmitted Diseases. Luckily however, we live in more sensitive times, and these questions will only arise should you apply for insurances, such as Life and Critical illness cover.

That surprises me that a lender wouldn't ask about health when lending so much money as it surely could affect them getting their money back if a person died of cancer (knowing they were ill before) or was off work for months/years with a illness.

glosoli

Certainly if you told a mortgage advisor that you anticipated a change in your circumstances, whether it be a reduction in income through a cancer diagnosis or something like that then the advisor would have a moral obligation to question whether it was in the customers interests to continue with the application process.

I suppose the onus is more on the borrower themselves having adequate insurances so should anything happen to them, their home/income is protected and the mortgage could be repaid. The chances of the lender not recuperating their funds is minimal due to it being a secured loan against the property.

amnblog

Lenders do not ask about your past present or expected future health.

They do ask if you are aware of anything that may change your circumstances in future.

A 'catch all' question that would pick up health issues that may affect your ability to pay.

kingstreet

glosoli wrote: »

Many years ago (I mean back in the 1990s), mortgage advisors did indeed have to ask health related questions - including whether people had Sexuality Transmitted Diseases.

I started in 1984 and I don't remember such questions on an intermediary mortgage application.

If there ever were, they were probably there on direct applications to help lenders sell insurance.

amnblog

As you say KS. On insurance questionnaires, including the famed HIV Question, but not on mortgage questionnaires.

Dandytf

thankfuly i wasnt ill until 2012 ms

mtg since 2011 and 2 short lost jobs

amazing how you manage a mtg when you have a home to go home to