Thanks Bacchus. Wrt Point 1, we had this requirements somehow waived when we purchased our first PPR. Now however, we expect to soon begin a self-build and rent the first property. Mortgage for the self-build will be higher than the existing mortgage. My question is can I now buy mortgage protection even though I'm 12+months into my current mortgage and if yes, should I look for an amount equal only to my current mortgage or my anticipated mortgage for self-build?
Thanks RS2K. Is it possible though to now take out a policy in between being granted and drawing down one mortgage and applying for the next?
Hi,
Two years ago we (my wife and I purchased) our PPR and the requirement to have Life Assurance was waived. Two years later, we still have no life assurance and will soon hopefully embark on a self build for a property of significantly higher cost & value. The more I think of it however, the more concerned I get about the implications for my wife should anything happen to me prior to taking out a policy for the new build (possibly several months away). My question therefore is firstly, can I now purchase a Life Assurance policy albeit not knowing exactly how much of a mortgage I would need covered, and secondly what type of policy should I purchase? Thanks in advance, fmmc
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