Mortgage protection , health issues

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coolaboola12

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Hi all

Im in the process of getting divorced so looking at buying a house and my family would live in the family home

I can afford the mortgage but s it possible to get a waiver for mortgage protection for a single applicant? I have health issues so would struggle to get protection but the LTV of my mortgage would be less than 50% and I have a death in service policy that pays out a million euro.


Would that suffice ? Or would I be better renting and saving up as much cash as possible and buying in the future (could have enough cash in ten years if I stopped pension contributions)

I'm tempted to lie on the application, get the cover and sort it out properly later
 
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You'd need to ask the lenders, they don't all have the same policies on waivers, unfortunately Ulster Bank were one of the best/easiest to get a waiver from.

Do you have 'death in service' benefit? While it can't be assigned to the bank they might consider it a 'comfort' as such to have something there.
 
Monbretia said:
You'd need to ask the lenders, they don't all have the same policies on waivers, unfortunately Ulster Bank were one of the best/easiest to get a waiver from.

Do you have 'death in service' benefit? While it can't be assigned to the bank they might consider it a 'comfort' as such to have something there.
Click to expand...
Yes my work death in service benefit pays out almost a million if I die
 
It’s never a good idea too give misleading information on such a policy.
However I understand the frustration you face as we had similar.
You could ask about loading the policy if applicable.
 
Pinoy adventure said:
It’s never a good idea too give misleading information on such a policy.
However I understand the frustration you face as we had similar.
You could ask about loading the policy if applicable.
Click to expand...
But what can happen if I lied? The policy would be useless but my death in service would pay out to my next of kin and they would pay off the rest of the mortgage with that, it would cover it ten times over

I don't see any negative here
 
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