By you maybe (why exactly?) but the lender will want to be covered and so will generally insist on mortgage protection life assurance for all joint owner occupier purchasers.Helen said:however cover is only desired in the event of one applicant dying.
The situation which prompted me to post the question was on behalf of a friend who is divorced but still part of a joint mortgage on the family home and also has a mortgage for himself.why exactly?
Then surely he is an only an owner occupier in relation to his own home and is effectively an investor on the other property? As such the lender should be made aware of this and may waive the requirement for life assurance since it is not mandatory for investment mortgages. Of course this could have other implications...Helen said:The situation which prompted me to post the question was on behalf of a friend who is divorced but still part of a joint mortgage on the family home and also has a mortgage for himself.
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