Cancelled mortgage insurance - can I get a new one

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ocullie24

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I cancelled a mortgage protection unknowingly a number of years ago. My mortgage has significantly reduced since but I only discovered this recently as this is a property I own with my brother. It’s not our primary residence it’s a joint mortgage.

Can I reinstate it get a new one. No health issues

I don’t remember doing it but I must have as I have no comms relating to it
 
You'd have to apply for a new one, have you other life cover? Maybe you don't really need another one.
 
It's not absolutely necessary to have mortgage protection on an investment property mortgage.

However the premiums can be deducted as an expense against the rent received, so it can work out as very good value life insurance.
 
I would get this sorted ASAP. It’s likely that the untimely death of either of you without a policy in place would cause financial complications at a difficult time. Far simpler if a life policy would just pay off the mortgage.

Try a broker for best value. Prices have fallen a bit recently in my experience.
 
Knuttell said:
How did that happen? It's usually a very conscious decision requiring you to write a specific letter to instruct insurer to end a policy.
Click to expand...

Lots of people stopped paying their mortgage protection premiums when they lost their jobs and were going into arrears.
 
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