R
You'll appreciate that I want to be as discreet as possible and would rather not have to tell my bank about my situation but I just don't know how to go about it. Any help or advice much appreciated.
Some banks accept waivers in place of life cover if you fall into allowed categories, briefly these are 1. if you are over 50, 2. if it is not your principal residence, 3. if life cover is prohibitively expensive and 4. if you cant get it at all. Now the bank you have approval from may not be one that accepts a waiver, it is down to the banks own policy on this so you should check with them. I think also it is unlikely you will be able to get cover so you will fit in under No. 4, you will need proof of this so you probably have to apply for it and be refused, the letter of refusal wont specify why other than maybe vaguely, it certainly wont say what condition you have. Maybe ask a broker about how this can be done, no need to tell the bank the exact details other than vague reference to a medical condition. However if you end up filling in a life cover form through the banks insurer then they will more than likely know.
Firstly anyway check with your bank whether they accept these waivers, if they dont then maybe try another lender, if they do then go ahead and apply and if turned down you can go with the waiver.
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