I took out a 25 year mortgage in 1992 so now there is only 10 years remaining, however this year I paid off a lot of it and now there is only €8,000 outstanding. My question is how come the figures for the Mortgage Protection and the Repayment Protector are still the same, surely if myself or my husband died most of the mortgage is already paid, or if one of us was ill the monthly mortgage is a lot less than it was originally. I rang the building society that we have a mortgage with but they waffled on for ages without giving me a direct answer as to why these fees are still the same. Can anyone explain if this is correct.
Thanks in advance
Thanks in advance