Hello,
In what circumstances can a waiver be obtained, with regards to the requirement for life cover, to secure a Homeloan?
Can a waiver be obtained if one of the joint borrowers has been declined for life cover, for example ? In this instance, one borrower has been approved, but one declined for cover.
Assuming the answer is yes, that a wavier can be obtained, is it automatically granted by the lender, or is there a risk that they'll withdraw the homeloan?
The reason for the life cover having been declined was on medical grounds, but there is no immediate risk to life, the condition is just being monitored, with slow signs of recovery. The person is active, working full time etc.
Many thanks,