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Can you take income protection insurance only when remortgaging?
to_be_FTB
Posts: 52 Forumite
I am applying for a mortgage (FTB) and I am trying to decide whether to take income protection insurance (I plan to remortgage after my fixed term as I should be able to significantly improve my LTV). If I don't take the insurance now, is it possible to do it when remortgaging? Would it be more expensive?
I understand that there would be 3-6 months-long period from when you start the insurance when you cannot claim, but is there anything else to consider?
I understand that there would be 3-6 months-long period from when you start the insurance when you cannot claim, but is there anything else to consider?
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Comments
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You can apply for IP/PHI when you like. It isn't mortgage related.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.3
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Great - thanks!
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The older you are, the more it costsI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.1
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