help mortgage protection cover postponed

J

jonq74

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am at my wits end. I have been approved for a mortgage but the mortgage insurance company have decided to postpone my cover for 6 months because i have a 24hour blood pressure monitor exam at the end of january. anyone please help me as to how i can get cover or prove to them that its only routine. Will AIB issue me a mortgage without the mortgage protection insurance?
 
AIB are tied agents of Ark life, which means that they only deal with Ark and don't have the ability to shop around different companies. Some other companies may look at your situation differently (Caledonian life are particulary good at medical underwriting), so contact a broker and ask them to call some underwriting departments for you. If all else fails and no insurer will take you on until after your monitor exam, AIB may still give you the loan. On a case by case basis they may waiver the life policy, there are also circumstances where you don't need to have a life policy (If the house is an investment property for example). Get independent advice & good luck.


www.powerinsurances.ie
 
If you are still having trouble after Jim's advice. Point out that in the UK no mortgage protection is required for mortgages and ask them to allow it to go through on this basis (its worth a try). Its definately worth proposing to another company though as you can then demonstrate you have done everything in your power to get cover.

Good luck

ps Jim I think AIB use Hibernian now for mortgage protection cover.
 
it was actually caledonian life that turned me down for 6 months. AIB have said they will not issue a mortgage to me without the protection just off the phone with them. Would i be able to contact you be pm with the details to see if you could help with advise on other insurers?
 
You're correct StevieC it is my understanding that all of Ark's policies are underwritten by Hibernian.

No problem jong74. If you would like to email me, I will do all I can to help


www.powerinsurances.ie
 
thanks jim. email sent to you at your office address per the website with my details.
 
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