Hi.
A bit of a scenario here.
Myself and other half are in the late stages of buying a house, deposits paid, our side of contract signed, engineer inspection complete..etc.
Now we applied for mortgage protection however 2 years ago her mother had a stomach problem which required surgery(not cancer and problem solved now) and after speaking with her gp, the other half requested a gastroscopy as there is a slight chance the condition was genetic. She is now awaiting this test which will be possibly another 3 months.
We initially applied for mortgage protection but she was told she could not sign up until they have the results of the test.
Taking into account that she is perfectly healthy and requested this test herself, we are now thinking of applying to a different company, not disclosing that she is awaiting the test.
We then plan to pay the monthly repayments just to get basic cover to satisfy the lender. However obviously we are aware the policy will be void. We are doing this with the sole intention of just ticking a box to complete the house purchase.
By doing this we stand to make no gain and we will cause no loss.
When the test has been completed we then plan to cancel this policy and approach the original company, declare everything truthfully and take out full and proper cover.
I'm satisfied that this is not illegal unless we attempted to claim.
1) how likely is it the insurance company will contact the gp?
2)if we go ahead with this plan, will it have any affect on the new policy we intend to take out in 3 months?
3) Is this a bad idea, is there a better way of doing it.
Keeping in mind it's 3 months and we are fully confident the test is clear. We are too deep in the house purchase and stand to lose a couple of thousand if we don't think of something.
Thanks
A bit of a scenario here.
Myself and other half are in the late stages of buying a house, deposits paid, our side of contract signed, engineer inspection complete..etc.
Now we applied for mortgage protection however 2 years ago her mother had a stomach problem which required surgery(not cancer and problem solved now) and after speaking with her gp, the other half requested a gastroscopy as there is a slight chance the condition was genetic. She is now awaiting this test which will be possibly another 3 months.
We initially applied for mortgage protection but she was told she could not sign up until they have the results of the test.
Taking into account that she is perfectly healthy and requested this test herself, we are now thinking of applying to a different company, not disclosing that she is awaiting the test.
We then plan to pay the monthly repayments just to get basic cover to satisfy the lender. However obviously we are aware the policy will be void. We are doing this with the sole intention of just ticking a box to complete the house purchase.
By doing this we stand to make no gain and we will cause no loss.
When the test has been completed we then plan to cancel this policy and approach the original company, declare everything truthfully and take out full and proper cover.
I'm satisfied that this is not illegal unless we attempted to claim.
1) how likely is it the insurance company will contact the gp?
2)if we go ahead with this plan, will it have any affect on the new policy we intend to take out in 3 months?
3) Is this a bad idea, is there a better way of doing it.
Keeping in mind it's 3 months and we are fully confident the test is clear. We are too deep in the house purchase and stand to lose a couple of thousand if we don't think of something.
Thanks