Mortgage Protection insurance

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Numberten

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I have a relation who cannot get Life Insurance due to a certain diagnosis. Does anyone know if this prevents this person from getting mortgage protection insurance if they try to buy a house in the future. If this is not possible are there any other solutions or does this lock them out of the mortgage market? Really appreciate some insights here.
 
Not necessarily, there are provisions in the Consumer Credit Act requiring lenders to have MP that allow for this however it does not compel them to offer it. There is a Waiver system for people who can't get MP or it is too expensive but it's up to each lender whether or not they offer this option so best to shop around when the time comes. Any other death in service/partner's income/loan to value etc will influence the lenders position at the time but some are better than other, UB were always very good with waivers but they won't be here!

Consumer Credit Act, 1995, Section 126

The electronic Irish Statute Book (eISB) comprises the Acts of the Oireachtas (Parliament), Statutory Instruments, Legislation Directory, Constitution and a limited number of pre-1922 Acts.
www.irishstatutebook.ie
 
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