Mortgage life assurance

angel379

Hi
I was just wondering if being told we had to take out a life assurance policy with our mortgage would also be classed as mis-sold.
Thanks so much

[Deleted User]

Not if you had to, no.

The_squirrell

It is usually seen as good advice (Unless you already had sufficient cover in place) Even if it was a condition of the mortgage, you could usually take a policy out anywhere. If it was a condition of the mortgage and you didn't like it, then you could have chosen another mortgage.
So....a short answer is NO. Almost certainly not!

SonOf

Most lenders had life assurance as a mandatory requirement until it started to decline in the mid 90s. By the early 2000s it was only a small handful that needed it on retail mortgages (still common on commercial borrowing though).

That aside, it is common sense to have life assurance with a mortgage and the default position is that a couple (married or otherwise) should have life assurance.

angel379

Thanks so much for your advice.