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?