mort protection ins with council loan

J

jen1110

Guest
Hi there,

We are applying for a loan through DCC and I just noticed that mortgage protection insurance is added into the monthly repayments as a % of the loan amount.

I'm just wondering, if this is the case, do they just automatically do this or would we need to be underwritten?

The % seems to be set so I can't see what would happen if it would need to be loaded?

Anyone any info on this?

Many thanks
 
hi,

it was added on my KCC ownership loan at a certain rate. couple of years back i got a brilliant quote for mortgage protection privately which was a lot cheaper than what KCC forced upon me, i tried to get out of it but was refused by the council. don't know how lenient are DCC on this one.
 
DCC are the same I'm afraid. Had the same situation myself and found a private policy much cheaper but was told by DCC that I have to stick with their one...
 
Hi thanks for replies.. Just wondering if this was automatically added on rop of your mortgage or did u still have to fill out forms etc?

I'm asking this because my partner has an underlying condition and we will probably struggle to get insurance if we were to be underwritten!!

thanks
 
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