Springsteen
Registered User
- Messages
- 34
Hi All,
A quick question to help decide if Mortgage protection is needed on BTL's(Buy to let).
A married couple. Joint ownership of the family home. They have life insurance on the familiy home. They are trying to decide if mortgage protection is needed for the buy to let as the BTL is solely in the husbands name, say for example he dies.
1. Does the debt die with him?
2. What happens the property? Does the bank get it to cover the loan outstanding?
3. Do the bank have any recourse to the family home or his estate?
Best Regards,
S
A quick question to help decide if Mortgage protection is needed on BTL's(Buy to let).
A married couple. Joint ownership of the family home. They have life insurance on the familiy home. They are trying to decide if mortgage protection is needed for the buy to let as the BTL is solely in the husbands name, say for example he dies.
1. Does the debt die with him?
2. What happens the property? Does the bank get it to cover the loan outstanding?
3. Do the bank have any recourse to the family home or his estate?
Best Regards,
S