J
jackmak
Guest
Hi. I have a query somebody might be able to help with and forgive me if this is a long post. Due to severe personal cash flow problems last year - largely as a result of my business almost collapsing - I stopped paying mortgage protection payments about a year ago although I maintained the monthly mortgage payments and I am not in arrears. Due to a heart murmur and an underlying heart condition called mitral valve regurgatation, my monthly mortgage protection payment was around €680 per month on a mortgage of €570k. Since I stopped paying the monthly payment to the life company, I have needed heart surgery to repair the heart valve (3 weeks ago) and I have been told by the cardiologist that the operation to repair the valve was a success and that it is as good as new. Since I have come out of hospital the bank with whom I have my mortgage is now looking for details of my mortgage protection policy to have it assigned. So I have a few questions
1. Given that I am only out of hospital a few weeks and in recovery mode, how difficult will it be for me to get mortgage protection?
2. Given that the underlying heart valve issue has been repaired, will this lower or increase my monthly payments (assuming I get the cover required).
3. What are the implications for my relationship with the mortgage bank?
I fully understand that this was a silly thing to happen. However my business suffered considerably over the last two years and it was a question of living day to day. I think the worst is over and I am in a position to resume monthly mortgage protection payments if there is a life company that will give it to me.
thanks in advance for any advice
1. Given that I am only out of hospital a few weeks and in recovery mode, how difficult will it be for me to get mortgage protection?
2. Given that the underlying heart valve issue has been repaired, will this lower or increase my monthly payments (assuming I get the cover required).
3. What are the implications for my relationship with the mortgage bank?
I fully understand that this was a silly thing to happen. However my business suffered considerably over the last two years and it was a question of living day to day. I think the worst is over and I am in a position to resume monthly mortgage protection payments if there is a life company that will give it to me.
thanks in advance for any advice