Bronco Lane
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I have a family member who is taking out a 50% loan to upgrade an existing property that is mortgage free.
The bank is asking for an Income Protection Policy to be taken out as well as a mortgage protection policy.
Is an income protection policy now the norm with all new mortgages or is the bank chancing it's arm? Both are in good employment.
They have an existing life policy about 10 years old. Should they use this or just take out a bog standard Mortgage protection policy and keep their own life policy separate?
The bank is asking for an Income Protection Policy to be taken out as well as a mortgage protection policy.
Is an income protection policy now the norm with all new mortgages or is the bank chancing it's arm? Both are in good employment.
They have an existing life policy about 10 years old. Should they use this or just take out a bog standard Mortgage protection policy and keep their own life policy separate?