mortgage protection life assurance policy query

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bobo

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Q1: Does anybody know off the top of their head if the Hibernian Mortgage Protection Policy can be transferred to other lenders should i decide to switch mortgages later?

Q2: Also if my partner stops smoking will hibernian reduce future premiums after a year or so?
 
The mortgage protection policy is assigned to the lender, you would need them to release it before you can reassign.

I would recommend you review your cover if details change, it doesn't necessarily stand that Hibernian will still be the cheapest now that your partner has stopped smoking, other companies might now offer you better terms.

Michael

[broken link removed]
 
There is no problem moving your policy to another lender however if you are increaring the mortgage or the term then the policy more than likely would not be suitable and these contracts cannot be amended.
 
Your life policy can be assigned to any lender once the original lender advises the life co. they no longer require an assignment over it.

Have a look at this thread re your smoking query but you should check with Hibernian when you're taking out the policy as basic protection policies cannot usually be amended and may require a new policy to be taken out with non smoker rates.

http://www.askaboutmoney.com/showthread.php?p=376425#post376425
 
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