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Should I pull out or wait? Health issues. Advice would be really appreciated.

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Comments

  • MovingForwards
    MovingForwards Posts: 17,164 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    @bflare the way I've done it, and I admit my mortgage isn't large, is rely on the death in service benefit. On top of that I overpay the mortgage each month and am also building up savings. 

    DIS is enough to cover the mortgage, mortgage overpayments free up more equity, savings cover a funeral. Then pensions (named beneficiary) provide breathing space for grieving without having to work if unable.

    If I don't die early, I will be mortgage free with freedom to work less or retire early.

    Work your numbers out and make sure you've got a will.
    Mortgage started 2020, aiming to clear 31/12/2029.
  • london21
    london21 Posts: 2,196 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Sorry to hear about your health.

    Can be really scary at first, do take a break when necessary.

    Going ahead with the property is a good idea because the mortgage repayment likely be less than your current rent payment and you have some stability.

    Your death in service benefit is also there just in case, you likely have many many years left. We sometimes think the worst but things do get better.

    Look after yourself, hopefully all goes well.

    If you do need to delay property purchase for now hopefully you find something later. 
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