Hi,
I've bought an apartment with a friend - equal deposits, mortgage will be paid 50/50 etc. I am looking for life insurance quotes for myself. Our mortgage is €380,000 so effectively we have a mortgage of €190,000 each (although I know that we are both liable for the full mortgage should one person default on payments!).
I filled in an online quote request with one of the brokers mentioned on this site and asked the question 'would I need life cover for the full mortgage amount of €380,000 or just my share which is €190,000?'
I got a reply saying they were unable to quote as I required a level of advice they were unable to provide. They suggested contacting a financial adviser.
Does anyone have any ideas? Surely, I only need cover for my share of the mortgage i.e. €190K, as if she dies, her half of the mortgage will be covered by her own life insurance and vice versa?
Thanks
I've bought an apartment with a friend - equal deposits, mortgage will be paid 50/50 etc. I am looking for life insurance quotes for myself. Our mortgage is €380,000 so effectively we have a mortgage of €190,000 each (although I know that we are both liable for the full mortgage should one person default on payments!).
I filled in an online quote request with one of the brokers mentioned on this site and asked the question 'would I need life cover for the full mortgage amount of €380,000 or just my share which is €190,000?'
I got a reply saying they were unable to quote as I required a level of advice they were unable to provide. They suggested contacting a financial adviser.
Does anyone have any ideas? Surely, I only need cover for my share of the mortgage i.e. €190K, as if she dies, her half of the mortgage will be covered by her own life insurance and vice versa?
Thanks