Which bank is that? Most banks have a waiver on life cover for clients aged over 50. perhaps rules in some have now been changed but I am surprised as it is not realistic to expect clients over 50 to obtain MPC.My concern is that the bank won't accept my life insurance as mortgage protection as its not the full amount I need to borrow and that I might not get mortgage protection even though I am cancer free for 10 years.
The bank is AIBWhich bank is that? Most banks have a waiver on life cover for clients aged over 50. perhaps rules in some have now been changed but I am surprised as it is not realistic to expect clients over 50 to obtain MPC.
The refusal sounds absolutely ridiculous if you meet all of the other criteria. This sounds like a "computer says no" decision. If I were you I would lodge a complaint with the Bank's CEO. As a banker it is mindless decisions of this type that give us a bad name and undermines any kind of credibility as being customer focused. I would make a big fuss about this as you appear to have been treated extremely harshly by some mindless cretin!!!!!and a life insurance policy to value of 185k.
The bank haven't refused. The OP is raising the issue as their own concernThe refusal sounds absolutely ridiculous if you meet all of the other criteria.
My concern is that the bank won't accept my life insurance as mortgage protection.
This means that my long suffering GP will probably get 3 requests for medical reports from 3 different companies. I did quote the Consumer Credit Act to them but they still came back with the 3 declines or 3 letters showing that the cost is excessive. Another question, who decides what's excessive or not?
Another point is that if a request is declined from one of these companies it will affect any further applications I might need into the future
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