Mortgage Protection Insurance refused by 2 large Insurance Companies.

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Night

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Myself and my boyfriend have mortgage approval in principal with a bank in Dublin and we have our 20% cash deposit sitting in a bank account. My boyfriend had a kidney transplant about 21 years ago and thank fully everything has been fine so far. We are both in our early forties. We figured that we would be charged a high price for Mortgage Protection Insurance based on the transplant so we decided to shop around ourselves and see if we could get a good deal. We contacted 2 Insurance companies. My boyfriend was refused mortgage protection insurance by both insurance companies based on his medical report.
What I would like to know is if we have any comeback? or is there any organisation that we can appeal to? Should we try other insurance companies? Any advice would be really helpful.
 
Is your main aim to get the mortgage or get the mortgage protection? If it just to get the mortgage then check with your bank if they will accept a waiver of mortgage protection on him as they are allowed to do in a case like this although not all operate this policy.

If you really want to have the mortgage protection in place too then I think there is some specialist company that may be able to get you a quote, don't know the name but saw it mentioned here before so someone will probably be along with that info.

It's not a given that he will be able to get cover at any cost, companies have their own underwriting rules and if they refuse there is nothing much you can do other than go ahead without the cover if the bank is agreeable to the waiver.

Does he have any life cover through work that would at least be there should anything happen? The bank won't accept this but it would a bit of security from your point of view for the mortgage.
 
Ravima said:
try a broker, who deals with all the companies.
Click to expand...

If he has been refused by two companies, it is likely that he will be refused by others too.

If his kidney transplant was 21 years ago and he was still refused, I would suspect there is ongoing issues, it is not uncommon.

The alternative provider is Pulse insurance, the use Lloyds of London to underwrite the risk. In my experience, people aren't prepared to pay the premium that they quoted for the cover.

Steven
www.bluewaterfp.ie
 
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