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Critical Illness compulsory with Mortgage?
QBdoo
Posts: 41 Forumite
I have applied for a mortgage through a broker and wondered whether it is compulsory to take out a critical illness insurance policy along with a mortgage?
I experienced an MI in 2003 due to an undiagnosed at the time, blood disorder however all has been fine since. I take daily medication and I have had no major issues since.
If my application for CI is refused will I be refused a mortgage?
I experienced an MI in 2003 due to an undiagnosed at the time, blood disorder however all has been fine since. I take daily medication and I have had no major issues since.
If my application for CI is refused will I be refused a mortgage?
0
Comments
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I have applied for a mortgage through a broker and wondered whether it is compulsory to take out a critical illness insurance policy along with a mortgage?
No. Never has been. Life assurance used to be mandatory though.If my application for CI is refused will I be refused a mortgage?
no you wont.0 -
It's not compulsory as far as Lenders are concerned.
But some mortgage brokers that are not charging fee for the mortgage, might require you to take LI/CIC through them, to make it worth while for them.
The more important question is, how much are you willing to risk it, not having insurance with your medical history0
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