I have got a 150k mortgage which I sign for tomorrow. The house is valued at 300k. We have taken out a mortgage protection policy for 160k and buildings insurance for 150k which is the cost of rebuilding the house etc.
We think the mortgage broker is trying to scare us by saying the mortgage protection policy is not enough and needs to be increased in value.
Will the solicitor explain this to us or is this just an attempt to generate commission on insurance products.
Any advice would be appreciated.
Regards
007
We think the mortgage broker is trying to scare us by saying the mortgage protection policy is not enough and needs to be increased in value.
Will the solicitor explain this to us or is this just an attempt to generate commission on insurance products.
Any advice would be appreciated.
Regards
007