johnny_adida
Registered User
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- 21
Apologies, it's the mortgage life policy which is in questionSeparate from your own standalone "life protection" policy is there also a mortgage protection life insurance policy assigned to the lender which would pay out here thereby leaving the mortgage cleared AND you with the lump sum from the other policy?
Apologies, it's the mortgage life policy which is in question
How come it's not assigned to the lender?Apologies, it's the mortgage life policy which is in question
So, if I have a few extra quid handy every now and then (I'm expecting a few grand in the next few months for example) and I want to put it against my mortgage, your advice is to lodge it against the mortgage as a sort of advance monthly payment but I can still opt to maintain my monthly payments (which are quite manageable, in fact I could probably comfortably pay a bit more!) that is the way to go? As opposed say to requesting that the lump sum is put against the capital sum of ones mortgage to reduce the monthly interest portion of ones repayment?I spent many years as a mortgage adviser and this is the advice I would give any customer in your situation whether the bank liked it or not
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