Possible to Choose Will before Mortgage Term Complete's

Dandytf

Is it possible to purchase a Will during Mortgage years.
My only verbal advice from a bank person, is that Will's are only setup once Mortgage Term expires (Home Ownership).
I ask though 14 Years of 25 to complete, though would like to request a will to be setup soon if possible.
thanks

[Deleted User]

You can write a will any time you want.  They're not connected to mortgages in any way.

Dandytf

Deleted_User said:

You can write a will any time you want.  They're not connected to mortgages in any way.

Excellent thanks.
I'll search online and hopefully select a will writing service.
Appreciate your kind advice.

JGB1955

Please select a STEP solicitor rather than a will writing service... solicitors have professional indemnity... the others may/will not.  It won't be a problem for you once you have gone, but could be a huge headache for your beneficiaries.

Mojisola

Dandytf said:

My only verbal advice from a bank person, is that Will's are only setup once Mortgage Term expires (Home Ownership).

If you were told this, then complain.  It's just plain wrong!  Whoever is giving out this 'advice' needs retraining.

Dandytf

Mojisola said:

Dandytf said:

My only verbal advice from a bank person, is that Will's are only setup once Mortgage Term expires (Home Ownership).

If you were told this, then complain.  It's just plain wrong!  Whoever is giving out this 'advice' needs retraining.

Way past complaint considerations, it was during PPI years.
Money advise service seems to include steps, I'll contact a local solicitor early21'
Hopefully solicitor that arranged my home purchase, when I moved from another town.
Thanks all reply's and advice, appreciated.

Marcon

JGB1955 said:

Please select a STEP solicitor rather than a will writing service... solicitors have professional indemnity... the others may/will not.  It won't be a problem for you once you have gone, but could be a huge headache for your beneficiaries.

Agree entirely with choosing a solicitor, but a STEP solicitor isn't necessary for what might be termed 'everyday' wills. STEP solicitors really come into their (and earn their fees) when a will needs to deal with complicated issues, especially those where establishing trusts and/or advanced tax planning need to be taken into consideration. 

TBagpuss

I agree with the recommendation to speak to a solicitor, not a will writing company.
Wills and mortgages are totally unrelated and the bank staff member either didn't know what they were talking about, or there was a miscommunication and you didn't fully understand..

Obviously where you have a mortgage, the debt is still payable after your death, so if you haven't out other arrangements (such as life insurance) in place to clear the mortgage then the house may need to be sold in order to pay it off, which you would need to take into account when deciding what you are leaving to whom, in your will, which may be what they were thinking of. 

Dandytf

Thanks each reply.
I seen offer for will writing service via MS website, which can be trusted,
Their providing Scottish Solicitor details, for one off one hundred pounds donation.
This seems a decent option which I'm going ahead with.
I still have a number of weeks with LG decreasing life insurance.
This includes MS details, and is possibly one of a very few Insurances I can take with MS,
Going to work 2-3 months in new job before accepting LG Policy.

Appreciate mser's advice.
Thanks!