Life Cover required for Buy-to-Let

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nt00deep

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Just received a loan offer for a buy-to-let mortgage.

I was not expecting one of the conditions to be the taking out of life cover. Two unrelated buyers in this case. I understood that life cover is not generally required for buy-to-let, given that in the eventuality that one member of the partnership died, the ongoing rental income and/or proceeds from sale of property would cover the bank's risk.

Am I unfortunate to be the exception to the rule, or is this requirement for life cover common for buy-to-let?
 
nt00deep said:
Just received a loan offer for a buy-to-let mortgage.

I was not expecting one of the conditions to be the taking out of life cover. Two unrelated buyers in this case. I understood that life cover is not generally required for buy-to-let, given that in the eventuality that one member of the partnership died, the ongoing rental income and/or proceeds from sale of property would cover the bank's risk.

Am I unfortunate to be the exception to the rule, or is this requirement for life cover common for buy-to-let?
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Mortgage protection policies are not always mandatory for BTLs unlike for PPRs, however the lender is well within its rights to insist on you getting it if that's what they want.
 
I challenged the need for it and they have sent me a form in which I can register my desire to waive the life cover.
 
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