mortgage payment protection

MRSTITTLEMOUSE

Can anybody tell me if when you switch to a new product with your mortgage company,is the mortgage protection insurance policy for the old product still valid or do you need to cancel and change to a new policy.Thanks.

dolly74_2

They all vary but usually it would change because usually it protects a specific amount and if it is a new product, then that new amount would change. Check with mortgage protection people. Generally, the new product arrangers would sort out the protection changes and dont need much persuading because they are on commission as it is classed as a new policy. They can be a bit slack though so it is definitely worth checking. I have worked dealing with Policy and claims queries for Mortgage Payment protectors for a well known high street bank and i know that sometimes they can be so greedy for sales that they cancel cover and rearrange it leaving people with gaps in their cover. Dont trust em. Check with the insurance directly. Hope this helps.