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Mortgage protection
monaymadlol
Posts: 493 Forumite
Hi
Getting a call from our broker on a recently completed mortgage about mortgage protection for me and OH
Is this worth looking at / getting? I'm s/e OH is employed
Tia
Getting a call from our broker on a recently completed mortgage about mortgage protection for me and OH
Is this worth looking at / getting? I'm s/e OH is employed
Tia
0
Comments
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@monaymadlol Mortgage brokers usually advise on Life, CIC and income protection. It's definitely worth looking into for most people, you may or may not benefit from it.
It's not compulsory as far as the lender is concerned and you may be able to get it from the mortgage broker, from an insurance broker, direct from insurers or on a non-advised basis online (life and CIC, not income protection normally).monaymadlol said:Hi
Getting a call from our broker on a recently completed mortgage about mortgage protection for me and OH
Is this worth looking at / getting? I'm s/e OH is employed
Tia
I am a Mortgage Adviser - 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.
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Is this worth looking at / getting? I'm s/e OH is employedRun some scenarios in your head. If you died, what would your partner do financially? and vice versa.
i.e. could they afford the mortgage without you (or vice versa).
Then do the same with illness and inablity to work etc.
Protection is there to cover shortfalls. Most people do life assurance. Some go further and do income protection.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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