Mortgage protection cover

I am buying a house soon and I recently went and spoke to the mortgage protection insurance person....

It was a 30 minute interrogation really where she asked all sorts of queries about my working life and personal life. Then I had to do another 20 minute phone call with a medical person. I was asked more questions for the mortgage protection cover than I was for the actual mortgage!

Is this the same level of detail everyone is going through at the moment?

That seems very unusual. In my time many years ago when i took out such cover i merely signed on the dotted line!

Many years ago there wasn't the regulation there is now, fact finds have to be filled in now to ensure you are being sold the right product, if anything other than basic mortgage protection then your financial position needs to be looked at again to ensure what you are getting suits your need.

There was always loads of medical questions on a mortgage protection form, it's basically several pages of them, depending on how you answer some there may be even more sections to be filled.

Not saying you weren't getting the hard sell and possible upselling of the product but basically nothing unusual in what you had to do.

You probably know this already but you do not have to purchase the mortgage protection policy being sold by the bank you are getting the mortgage with.

Might be worth shopping around.

Yeh i think i was on the phone for 30+ mins and we also got a quote from the bank which took about 40 mins.

I fully accept things have changed, hopefully for the better, with cooling off periods etc.

@dingding

yeah i knew i could go with another company, but its only about 200 for the year. The cheapest i found was 170 so in the interest of speeding it up, i stuck with the bank i am getting the mortgage from.

next time round, i'll change to the cheaper one.