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?
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...